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"Overview of Automotive Exhaust System Market"
The automotive exhaust system is a piping system, which is designed in order to monitor reaction exhaust gases away from a controlled combustion inside an engine. The advancement in material technology, increasing advances in automation and increasing demand for fuel-efficient vehicles are pushing the growth of the automotive exhaust systems market. The major factor that drives the growth of the global automotive exhaust system market includes environmental issues. There are a number of environmental problems caused by the harmful exhaust gases. Due to this the government of countries has initiated strict emission rules in order to keep the environment safe and free from such harmful gases. Considering these strict emission rules stated by the government, the automotive exhaust system manufacturer has invested largely in research and development activities for the establishment of a more effective exhaust system to control the environment pollution which is ultimately driving the growth of the global market.
Light-duty vehicles (LDV) are estimated to be the fastest-growing aftermarket in the forecast period.
LDVs are comprised of passenger cars and LCVs. In LDV, passenger cars hold the largest market share for post-treatment devices due to the maximum vehicle parc. The contribution of passenger cars to the total vehicle parc was almost 70% in 2017, which is expected to increase significantly in the coming years. Emissions regulations are also becoming tighter for all vehicles.
The SCR segment is projected to be the largest contributor to the exhaust system industry, by means of after-treatment devices, during the forecast period.
SCR technology offers benefits; including improved nitrogen oxide (NOx) reduction of almost 90 percent compared to LNT, and is therefore often used in diesel vehicles around the globe. SCR has a high deployment rate in both European and North American nations. Europe has a high rate of acceptance of diesel passenger cars and LCVs. As a result, the deployment rate of SCRs is higher compared to other regions such as Asia Oceania and North America for these types of vehicles. In addition, newer trucks and busses from developed countries must withstand the NOx limits permitted and must be equipped with SCRs.
Muffler segment triggering the growth of the global automotive exhaust systems market.
In the category of product type, apart from catalytic converter, oxygen sensors, exhaust pipes, and manifolds, it is predicted that the muffler segment will represent a high market share in the coming years. The muffler segment was estimated to be slightly below US$ XX Billion in 2019 and is estimated to have reached a value of more than US$ XX Billion by the end of the assessment year (2028). The muffler segment is projected to grow at a CAGR value of 3.4% during the forecast period. This muffler segment led the global market during the past years and is expected to continue the trend in the years to follow.
The increase in adoption of technologies creating various opportunities to the growth of global automotive exhaust systems
With the increasing adoption of technologies to manufacturer, efficient exhaust systems can offer several benefits such as improved fuel consumption and reduced carbon dioxide emission. This is expected to drive the growth of the global automotive exhaust systems market in the coming years. In addition, product innovation has been at the lead of success for key players in this automotive exhaust system field. Technical advancement and high automobile production are factors that contribute to the growth of the Asia Pacific market. The growing focus of automotive OEMs on controlling the emission level of vehicles is supporting them to expand the offering of active exhaust systems among other models. This will trigger the automotive exhaust system market to grow at a CAGR of almost 4% during the forecast period.
APAC triggered the demand for the global automotive exhaust system market during the forecast period.
In the case of a geographical region, the Asia-Pacific region is expected to account for a significant share of the global market for automotive exhaust systems. Developing countries such as China and India are expected to see significant growth rates in Asia-Pacific. The Asia-Pacific market is followed by North America and Eastern Europe.
High automotive production and technological advances are factors that contribute to the growth of the Asia-Pacific market. In addition, favorable working conditions coupled with low-cost labor are key factors that encourage OEMs to develop manufacturing industries in Asia-Pacific. On the other hand, rising demand in countries such as Japan is also driving the growth of the global market.
Tenneco (US), Continental (Germany), Eberspacher (Germany), Faurecia (France), Futaba Industrial (Japan), Benteler International (Austria), Yutaka Giken (Japan), Friedrich Boysen (Germany), Bosal (Belgium) are some of the key players of the global automotive exhaust systems market. Faurecia is expected to be a dominant player in the market for exhaust systems. Faurecia has adopted strategies for expansion, new product development, partnership, and merger and acquisition in order to retain its leading position in the exhaust system market.
By Engine Type:
By Vehicle Type:
- Heavy Commercial Vehicle
- Light Commercial Vehicle
- Passenger Car
By Product Type:
- Oxygen Sensor
- Catalytic Converter
- Exhaust Pipes
- Exhaust Manifold
Off-Highway Exhaust System After-Treatment Devices:
By Sales Channel:
- Original Equipment Manufacturer (OEM)
- North America
- Asia Pacific
- Middle East & Africa
- Latin America