During the forecast period, Asia Pacific is expected to account for more than 50% of the global demand for automotive exhaust systems.
Automotive Exhaust System Market
Global Automotive Exhaust System Market:Overview
The purpose of an exhaust system is to direct reaction exhaustgases away from regulated combustion within an automobile engine.The whole system transfers burnt gases from the engine and compriseone or more exhaust pipes. The exhaust gas can pass via a catalyticconverter to minimize pollutants and a muffler or silencer tominimize noise, depending on the overall system architecture.
|2016 - 2020
|2022 - 2028
|By Product Type, By Application, and By End Use
|Value (USD Billion), and Volume (Units)
|Revenue in USD million/billion and CAGR from 2022 to 2028
|North America, Europe, Asia Pacific, Latin America, and MiddleEast & Africa, and Rest of World
|U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain,China, India, Japan, South Korea, Brazil, Argentina, GCC Countries,and South Africa, among others
|Number of Companies Covered
|10 companies with scope for including additional 15 companiesupon request
|Market growth drivers, restraints, opportunities, Porter’s fiveforces analysis, PEST analysis, value chain analysis, regulatorylandscape, market attractiveness analysis by segments and region,company market share analysis, and COVID-19 impact analysis.
|Avail customized purchase options to meet your exact researchneeds.
Global Automotive Exhaust System Market: GrowthFactors
The global automotive exhaust system market is growing at anexponential rate. Major factors that are contributing to the growthof the global market include an increase in automotive sales &manufacturing units as well as strict government rules imposed bythe government of several countries on carbon emission. Governmentsall around the world are enacting stronger rules for vehicleemissions in an effort to mitigate the negative environmentaleffects of the automobile sector. Component providers are beingforced to develop high-efficiency, environmentally sustainableautomotive exhaust systems for both local and foreign markets as aresult of these rules.
In addition to this, the rise in disposableincome in developed countries has led to an expansion of automotiveindustries as the demand for personal vehicles has seen a surge inits demand. Further, the demand for commercial as well as publictransport vehicles is also increasing in developing countries whichin turn is fostering the growth of the global market. In additionto this, growing awareness among the population regarding theadverse effects of air pollution on the environment as well ashealth will lead to an increase in a shift towards low emissionvehicles facilitated with exhaust systems thereby propelling themarket growth.
However, an increase in development and inclinationof the customers towards electric vehicles owing to increasing fuelprices may impede the growth of the global automotive exhaustsystem market. On the other hand, an increase in technologicaladvancements in exhaust systems including exhaust gas recirculationand exhaust after-treatment systems may open ample opportunitiesfor the growth of the global automotive exhaust system marketduring the forecast period.
In 2020, the COVID-19 pandemic had an influence on demand forcar exhaust systems. Lockdowns and social distance have occurredthroughout the world as a result of the virus's spread, resultingin losses in businesses like manufacturing, automobiles, andhospitality.
This downturn in business is expected to have a severeinfluence on both car production and supply for automobile exhaustsystems. On a year-over-year basis, worldwide automobile productionvolumes dropped, owing mostly to lower production volumes in Europeand North America, among other geographies. However, in a race fornew product launce and advanced digital marketing techniques theautomobile sector is set to return with its full potential in theforecast period.
Global Automotive Exhaust System Market:Segmentation
The global automotive exhaust system market is bifurcated intocomponent, fuel type, vehicle type, and region. By component, themarket is split into the muffler, exhaust manifold, catalyticconverter, exhaust pipes, and oxygen sensor. The fuel type segmentis bifurcated into diesel and gasoline. Vehicle type is categorizedinto passenger car and commercial vehicles.
Global Automotive Exhaust System Market: RegionalAnalysis
During the forecast period, Asia Pacific is expected to accountfor more than 50% of the global demand for automotive exhaustsystems. This can be linked to customers in the region becomingmore technologically informed and having more spending power.Furthermore, the market is predicted to develop due to the evolvingautomotive sector in emerging economies like India and China. TheMake in India initiative is projected to attract significantinvestments in the automobile sector, since India provides a numberof advantages, including low-cost labor and lower-cost rawmaterials. China and India have extensive supply chains andlogistical networks, also they are among the world'sfastest-growing economies.
Global Automotive Exhaust System Market: CompetitivePlayers
Market leaders in the global automotive exhaust system includeContinental AG, BENTELER International, Tenneco Inc., Bosal,Eberspacher, Faurecia, FUTABA INDUSTRIAL CO., LTD., SejongIndustrial Co., Ltd., Friedrich Boysen, and Yutaka Giken CompanyLtd.
Global Automotive Exhaust System Market: RegionalSegment Analysis
What Reports Provides
The global automotive exhaust system market is growing at an exponential rate. Major factors that are contributing to the growth of the global market include increase in automotive sales & manufacturing units as well as strict government rules imposed by the government of several countries on carbon emission. Furthermore, an increase in technological advancements in exhaust systems including exhaust gas recirculation and exhaust after-treatment systems may open ample opportunities for the growth of the global automotive exhaust system market during the forecast period.
Continental AG, BENTELER International, Tenneco Inc., Bosal, Eberspacher, Faurecia, FUTABA INDUSTRIAL CO., LTD., Sejong Industrial Co., Ltd., Friedrich Boysen, and Yutaka Giken Company Ltd.
During the forecast period, Asia Pacific is expected to account for more than 50% of global demand for automotive exhaust systems. This can be linked to customers in the region becoming more technologically informed and having more spending power.