In order to minimize harmful emissions from automobile industry government authorities and other environmental pollution protection industry associations have issued emission control standards. Under which industries such as automobile manufacturers, power generation and chemicals are compelled to apply emission control systems to their vehicles and manufacturing plants in accordance with emission standards. As these standards get stricter, businesses have to constantly upgrade to new emission control systems. This has a positive impact on the emission control systems industry and its supply chain. Thus the number of manufacturers have started adopting substrates and filters for catalytic converters that help in controlling emissions from small and industrial automobiles which in turn has increased the demand for automobile substrates.
The article cited AMA's "Global Automotive Substrates Market Study" explored substantial growth in North America and of %. According to the report, Growing Use of Ceramic Substrates over Traditional Metal Substrates
is one of the primary growth factors for the market. Alloy Substrates Comparatively Light Weight than the Conventional Metals
is also expected to contribute significantly to the Automotive Substrates market. Overall, Automotive
applications of Automotive Substrates, and the growing awareness of them, is what makes this segment of the industry important to its overall growth. The Distribution Channel, such as Direct, is boosting the Automotive Substrates market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.The Material, such as Metallic Substrates, is boosting the Automotive Substrates market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.
AMAs Analyst on the Global Automotive Substrates market identified that the demand is rising in many different parts of the world as "Growing Adoption of Non-Metallic and Light Weight Substrates
". Furthermore, some recent industry insights like "On 20th February 2019, LG Innotek has begun to mass produce ToF (Time of Flight) module for a smartphone to secure the leading position in the high-tech 3D sensing component market that also enables measuring of flight-time distance. G8ThinQ, a new LG Electronics flagship smartphone to be released on the 24th, houses this ToF module on the front. This module is a high-tech 3D sensing component which perceives three-dimensionality, spatial information, and movement of an object by using the distance calculated based on the return time of the light shot towards and bounces off of a target object." is constantly making the industry dynamic.
The report provides an in-depth analysis and forecast about the industry covering the following key features: o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies o Analyses the Global Automotive Substrates market according to Type, Application, and regions o Analyzes the top 10 players in terms of market reach, business strategy, and business focus o Provides stakeholders insights and key drivers & trends of the market
**The market is valued based on weighted average selling price (WASP) and includes any applicable taxes on manufacturers. All currency conversions used in the creation of this report have been calculated using constant annual average 2022 currency rates.
Market Size Estimation In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the Automotive Substrates market and other related sub-markets covered in the study.
o Key & emerging players in the market have been observed through secondary research. o The industrys supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes. o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation The overall Automotive Substrates market size is calculated using market estimation process, the Automotive Substrates market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the Global Automotive Substrates market size has been validated using both top-down and bottom-up approaches.