Light vehicle exhaust system reduces noise created by the vehicles, which in turn increases the fuel economy, drivability, and overall power of the light vehicles. Earlier, exhaust system was previously a simple duct system designed to avoid toxic exhaust gases from entering the light vehicles. Change in the government regulation and consumer demands are some of the major factors driving the demand for light vehicle exhaust & emissions systems. Federal, state, and local government in the countries such as the U.S. have introduced several noise pollution control standards. Federal Noise Control Act was one of the major nationwide law introduced by the U.S to regulate the noise levels of light vehicles. In the U.S. sound measurement is taken at 50 feet for speeds less than 35 mph, whereas in Australia measurement is taken at 24.61 feet for speeds of 31.07 mph. Repair of leaking connections, replacement of failed components, and visual inspection are some of the solutions to reduce the noise levels of light vehicles.
Light vehicle exhaust & emissions systems market can be segmented based on type and components of exhaust systems. Single exit pipe, dual rear exit, opposite dual exhaust, and d ual side exhaust are some of the types of exhaust systems in light vehicles. Single exit pipe is a standard type exhaust system that has one exhaust pipe to release the exhaust gases away from the engine. Dual rear exit vary in terms of quantity of exit pipes installed in the light vehicles. Furthermore, after treatment devices including particulate filters and catalytic converters, mufflers, decoupling elements, and hangers are some of the components of exhaust systems in light vehicles.
Light vehicle exhaust & emissions systems are expected to be majorly implemented in the regions such as Europe, North America and Asia Pacific. U.S. is expected to remain one of the emerging Light vehicle exhaust & emissions systems markets. Furthermore, China is projected to experience significant growth rates in upcoming years. Economic growth in countries such as Germany, South Korea and others is one of the major factors driving the demand for light vehicle exhaust & emissions systems market. In addition, increased spending capacity and rising automotive industry growth in countries such as Japan and China are some of the major factors driving the for light vehicle exhaust & emissions systems market.
Reductions in operations & management costs, improved security, improved implementation of software and hardware components in the regions such as Asia Pacific and Europe are some major benefits that are projected to drive for light vehicle exhaust & emissions systems market. Experienced with growing economic and environmental pressures on city transportation, cities are formulating innovative strategies to provide a balanced view of parking that offers better management of supply & demand of visitors. Reduced operating expenses, improvement in the capital productivity, willingness to take risks, ability to manage partnerships and facility to minimize the cost and complexity of maintenance are few requirements that will have to be met to capture the light vehicle exhaust & emissions systems business.
Some of the major players in light vehicle exhaust & emissions systems market are Flowmaster, Inc., Magnaflow, MBRP Inc., Borla, Gibson Performance, Inc., Gale Banks Engineering. INC., advanced FLOW engineering, Inc., JBA Performance Exhaust, and Gibson Performance, Inc. among others.
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.