Automotive Engine & Exhaust Sound Modulation System Market: Introduction
- Automotive engine & exhaust sound modulation system controls the sound generated by the inner structure of the silencer and exhaust pipes in order to comply with legislative laws and to minimize sound pollution in the environment
Key Drivers of Automotive Engine & Exhaust Sound Modulation System Market
- Electric vehicles are equipped with sound exhaust system to generate a basic sound from the vehicle, which aids pedestrians on the road in detecting an approaching electric vehicle. Ambitious policy announcements and technological progress in the electrification of cars, buses, and trucks has been stimulating the rollout of electric vehicles in major vehicle markets for the last few years. Electric cars accounted for 2.6% of total global car sales and about 1% of global car stock in 2019, which registered a 40% year-on-year increase, eventually boosting the automotive engine & exhaust sound modulation system market.
- Automotive OEMs across the globe are focused on decreasing the noise generated from vehicles. This is due to consumer demand for quieter cars. Increasingly, automotive users are associating low sound with comfort and luxury, making it a priority for automakers to lower every possible generated decibel. This trend is driving the automotive engine & exhaust sound modulation system market.
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Challenges in Automotive Engine & Exhaust Sound Modulation System Market
- The recent outbreak of COVID-19 pandemic has affected national as well as international automotive supply chains, manufacturing and R&D operations, and consequently, hampered the automotive industry. Post first wave of COVID-19, global economies have started opening automotive manufacturing and supply chain operations, thus the COVID impact on the industry seems to have reached a state of normalcy; however, a resurgence in COVID-19 cases in countries across Europe has prompted governments to impose a second round of lockdown restrictions and hence, the uncertainty in the automotive industry continues. A gradual recovery in the demand for automotive and ancillaries is anticipated in the next few months, despite concerns around risk of second wave of infection in several countries and other geopolitical risks.
Opportunities in Automotive Engine & Exhaust Sound Modulation System Market
- Automotive manufacturers are identifying a typical sound characteristic for a vehicle, moreover a unique brand sound for the vehicle. Furthermore, vehicle OEMs can also use this as an opportunity to increase the recognition of their brand. Therefore, sound design is increasingly becoming an important factor in vehicle sales. This scenario is further estimated to offer significant opportunity for the automotive engine & exhaust sound modulation system market.
Europe holds Dominant Share of Global Additive Manufacturing Processes Market
- Europe is a lucrative region of the global automotive engine & exhaust sound modulation system market owing to the implementation of automotive noise regularization laws to minimize the noise emitting from vehicles, which in turn has been driving the automotive engine & exhaust sound modulation system market in Europe. The European Commission has proposed to reduce the noise produced by passenger cars, light commercial vehicles, buses, light trucks, coaches, and trucks as numerous people are being affected by high traffic noise pollution. Consequently, in April 2014, a new regulation was adopted for this, thereby driving the automotive engine & exhaust sound modulation system market. Additionally, rising penetration of electric vehicles is estimated to further propel the automotive engine & exhaust sound modulation system market. Sales of electric vehicles are increasing in Europe, in line with the EU’s policy objective of reducing greenhouse gas emissions from transport. Electric car registrations were close to 550,000 units, having reached 300,000 units in 2018. This represents an increase from 2% to 3.5 % of total car registrations.
Key Players Operating in Automotive Engine & Exhaust Sound Modulation System Market
The global automotive engine & exhaust sound modulation system market is moderately consolidated. A few of the key players operating in the global automotive engine & exhaust sound modulation system market are:
- Tenneco Inc
- HKS CO., LTD.
- Johnson Matthey
- Basf Se
- Benteler International
- Sejong Industrial Co.,Ltd.
- Klarius Products Ltd
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Global Automotive Perception Sensor Mark: Research Scope
Global Automotive Engine & Exhaust Sound Modulation System Market, by Vehicle Type
- Passenger Vehicle
- Utility Vehicles
- Light Duty Vehicle
- Medium & Heavy Duty Trucks
- Buses & Coaches
Global Automotive Engine & Exhaust Sound Modulation System Market, by Sales Channel
Global Automotive Engine & Exhaust Sound Modulation System Market, by Technology
- Diesel Oxidation Catalyst (Doc)
- Diesel Particulate Filter (Dpf)
- Selective Catalytic Reduction (Scr)
- Exhaust Gas Recirculation (Egr)
- Gasoline Particulate Filter (Gpf)
Global Automotive Engine & Exhaust Sound Modulation System Market, by Fuel Type
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.