Impact of new norms on demand for crucial emission-reducing components

Among all regions, Europe is expected to witness the highest decline in the demand for exhaust manifolds, with a decline of 6.34%.

Countries and governments worldwide are passing laws and implementing legislations to phase out internal combustion engine (ICE) vehicles and shift to carbon-neutral zero-emission vehicles (ZEVs) to mitigate climate change and decarbonize the economy. Recently, the EU passed a law which from 2035 will allow sales of new vehicles that will have zero CO2 emissions. The EU was set to ban ICE vehicles from 2035, however last moment opposition from a coalition comprising Germany, Italy, Poland and the Czech Republic, led the EU to pass a law allowing sales of new ICE vehicles from 2035 only if they run on carbon-neutral or zero-emissions fuel.