The global automotive ceramics market is forecast to grow at a compound annual growth rate (CAGR) of 8.52% from 2017-2022.
According to a report available from Research and Markets, the global growth in automotive ceramics is forecasted at a compound annual growth rate (CAGR) of 8.52% from 2017-2022. This is due to a rising in worldwide environmental awareness. Increasing government regulations when it comes to greenhouse gas emissions and various other hazardous pollutants, may have led to the growth of the automotive ceramics market. As well as the growing focus on electric and hybrid vehicles,
Ceramic engine accessories are expected to see strong growth. Ceramic sensors are also anticipated to have ample growth, due to some technological advancements leading to a higher adoption rate.
While developed regions have been predicted to dominate the market in terms of revenue, emerging nations are also expected to respond optimistically. As a result of rising vehicle production and the increasing government norms concerning air pollution. Still the region of North America remains the major market. However, the Asia-Pacific region will also witness strong growth driven by countries such as Japan, India and China.
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