LONDON--(BUSINESS WIRE)--The global automotive resonator intake ducts market is projected to grow to 104.15 million units by 2021, at a CAGR of close to 3% over the forecast period, according to Technavio’s latest report.
In this report, Technavio covers the market outlook and growth prospects of the global automotive resonator intake ducts (ARID) market for 2017-2021. By end-users, the market is divided into original equipment manufacturers (OEMs) and aftermarket segments.
|An intake duct resonator is a device used to eliminate the pressure waves that form inside the air intake duct of automotive engines to reduce the noise emitted from the engines. The reduction in price becomes a challenge for the manufacture of automotive resonator intake ducts as the integration of the resonators with intake manifolds is one of the key driving factors of the market.|
Technavio’s research study segments the global automotive resonator intake ducts market into the following regions:
“APAC is the largest regional segment in the global automotive resonator intake ducts market, responsible for generating almost 52% of the overall market revenue. The increasing demand for automobiles from the emerging markets such as India and China will contribute to the market growth,” says Neelam Barua, a lead analyst at Technavio for automotive components research.
Some of the key factors responsible for the market dominance of APAC include the high number of domestic automakers, mass plastic manufacturing facilities in China, high population and the resulting demand for vehicles, and the presence of a high number of entry and mid-segment level vehicles.
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The Americas are the second largest segment of the global ARID market, with a majority of the revenue generated from the US in North America. The significant domestic presence of OEMs and suppliers and the stringent government regulations in North America also drive the increased adoption of ARIDs in the region. The South American market is displaying steady growth, driven by the low labor and production costs, which are encouraging many OEMs to set up their manufacturing plants in countries such as Brazil and Mexico.
“EMEA is the fastest growing segment of the automotive resonator intake ducts market, driven by the presence of a very strong automotive industry in the region. The economic recovery post the Euro debt crisis is responsible for the growth of the market segment,” says Neelam.
The automobile sector in the EU is focusing on both weight reduction and the use of eco-friendly products, making them the largest automotive R&D investor in Europe. Countries such as Italy, Belgium, France, the UK, and Germany are the largest contributors to the ARID market in the region.
The top vendors in the global automotive resonator intake ducts market highlighted in the report are:
- Bolton Plastics Components
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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