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Forage Seeds Market Growth Analysis, Varieties And Analysis Of Key Players – Forecasts To 2033

The global forage seeds market is forecast to reach a valuation of US$ 12,132.9 million in 2023 and further accelerate at a robust CAGR of 9.8% between 2023 and 2033.

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Latest Update of the Forage Seeds Market is expected to reach US$ 12,132.9 million by 2023, growing at a CAGR of 9.8% during forecast 2023 to 2033 | FMI Study

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The global automotive exhaust systems market is expected to reach a market valuation of US$ 106.98 Billion by the year 2022, accelerating with a moderate CAGR of 6.07% by 2022-2032. Aautomotive exhaust systems market size is anticipated to be valued at about US$ 192.86 Billion by 2032 end.

Key Takeaways

Asia Pacific region is expected to account for more than 60% of the global growth in demand for automotive exhaust systems.
More than 6.8% CAGR growth is predicted for Latin America throughout the forecast period, making it the second fastest growing area.
The expansion of the regional automotive exhaust systems market is anticipated to be bolstered by the rising output and demand for automobiles in nations like Brazil and Mexico.
From 2021 to 2028, the market for commercial vehicles is expected to grow at a CAGR of about 8.0%. This expansion is a direct result of rising demands in the transportation and logistics industries for large vehicles.
One of the most important automotive exhaust systems market is the logistics sector. In 2020, gasoline sales made up almost 80% of total sales, and this trend is expected to continue during the projection period.
Passenger cars generated over 70% of total market revenue in 2020, and this trend is expected to continue over the forecast period. Around the predicted time period, the automotive exhaust systems sector is expected to grow at a CAGR of over 5.0%.
The sales and manufacture of automobiles in developing countries like China and India are on the rise due to the rapid urbanization of these regions and the rising personal disposable income of their citizens. Growth in the automotive exhaust systems market is anticipated to be driven by rising demand for, and production of, automobiles with high-efficiency exhaust systems.

The advent of car companies adopting cutting-edge, environmentally friendly technologies to produce low-emission vehicles is expected to fuel the automotive exhaust systems industry's expansion. Demand for these low emission automobiles with an upgraded exhaust system is expected to be bolstered by customers' growing awareness of pollution's toll on human health and the natural world.

Revenue growth is expected to be propelled by strict government pollution rules, which are leading to increased development of exhaust system technologies such as exhaust after-treatment systems and exhaust gas recirculation (EGR) systems. In order to conform to upcoming regulations on vehicle emissions, the automotive industry is developing exhaust systems for diesel engines to reduce NOx emission. Demand for automotive exhaust systems is expected to rise as a result of all the issues.

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Competitive Landscape for the Automotive Exhaust Systems Market

There are just a handful of major players in the automobile exhaust systems market. Because of their dedication to innovation and the creation of a wide variety of items for use with exhaust systems, these businesses have risen to the top of respective industries. Companies like these are anticipated to expand their automotive exhaust systems market share throughout the forecast period.

Global Automotive Exhaust Systems Market Key Players

Faurecia S.A., Tenneco Inc., Eberspächer Group, Friedrich Boysen GmbH & Co. KG, Benteler International AG, Futaba Industrial Co. Ltd., Yutaka Giken Co. Ltd., Bosal International N.V., Harbin Airui Automotive Exhaust Systems Co. Ltd., Sejong Industrial Co. Ltd.,

Recent Developments

Futaba Industrial Co., Ltd. stated in May 2021 that they would be participating in the Automotive Engineering Exposition 2021 Online. With an eye on achieving SDGs, the business plans to deploy new exhaust and body system components that enhance fuel efficiency, cut weight, and reduce emissions (Sustainable Development Goals).
Faurecia's Clean Mobility Division has its headquarters in the Koriyama Plant in Koriyama City, Fukushima Prefecture, and in April 2021, the company announced that production would begin there in the second half of that year. Although the Koriyama Plant was supposed to begin operations in September 2020, the spread of the coronavirus has temporarily slowed production at the automakers to whom it delivered products (COVID-19).
In March of 2021, Eberspächer revealed that it has begun serial manufacturing of tunnel mixers, a technology used to convert exhaust emissions from automobiles and commercial vehicles. The mixer guarantees that the aqueous urea solution is evaporated and mixed with the exhaust gas to the best of its ability.
In March of 2021, Tenneco's Clean Air business group partnered with Eaton's Vehicle Group to develop an integrated exhaust thermal management system for commercial trucks and light cars. This technology is anticipated to help manufacturers comply with new emissions rules.

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