Global Automotive Exhaust Systems Market: Industrial Analysis
Global Automotive Exhaust Systems Market was valued $xx Mn in 2019 and is expected to reach $xx Mn by 2026, at a CAGR of 7.47% during the forecast period.
Global Automotive Exhaust Systems Market Introduction
Automotive exhaust systems are an important part of the vehicle's design. The vehicle manufacturing industry's usage of exhaust systems is projected to be influenced by the growing focus on developing solutions to fulfil international emission criteria. The engine, automotive exhaust manifold, automotive exhaust valve, automotive exhaust pipe, silencer, and muffler are all important components of an automobile exhaust system.
Global Automotive Exhaust Systems Market Dynamics
Due to an increase in the number of environmental concerns caused by toxic exhaust emissions, the global automotive exhaust systems market is predicted to rise at a remarkable rate throughout the forecast period. As a result, the government has enacted strict emission regulations in order to ensure that the environment remains safe and free of dangerous substances. A pipe system designed to monitor reaction exhaust gases away from controlled combustion within an engine is known as an automotive exhaust system. Environmental concerns are a crucial aspect driving the global automotive exhaust systems market forward. Automotive exhaust systems manufacturers have invested heavily in research and development operations in order to build more effective exhaust systems to minimize environmental pollution, which is eventually driving the global market growth.
Advanced After-Treatment Devices are expected to boost the Exhaust Systems Market's capabilities. The growing demand for efficient after-treatment devices is expected to boost demand for exhaust systems significantly. Several automakers have been seen proactively engaging in considerable R&D initiatives in order to provide improved exhaust after-treatment equipment. One such noble after-treatment technology is the gasoline particulate filter, which provides high-end efficiency in terms of noise reduction and exhaust pollution from GDI engines.
The competitive landscape of the exhaust systems market depicts the competitive dynamics in terms of critical criteria such as relative market presence, product offerings, and differentiating tactics employed by the major competitors in the exhaust systems market. BENTELER Group, a major player in the exhaust systems industry is concentrating heavily on internationalization in order to grow in new countries, increase production volumes, and improve profitability via improved differentiation. In addition, Eberspaecher, a major competitor in the exhaust systems industry has partnered with China Yuchai International Limited to create a joint venture. The goal of this partnership was to develop and sell innovative commercial vehicle exhaust pollution control technologies.
Global Automotive Exhaust Systems Market Segment Analysis
Exhaust mufflers are expected to account for the bulk of exhaust component sales until 2031, with a CAGR of over xx% throughout the forecast period. Automobile manufacturers are adopting extremely effective silencer systems to avoid toxic emissions leakage and reduce noise pollution levels as emission standards become stiffer. Hyundai said in January 2020 that the Creta mid-SUV with a dual-exhaust muffler system will be available in India the following month. The vehicle complies with BS6, which is a big step toward lowering carbon emissions. The device is anticipated to improve fuel efficiency and mileage by lowering back engine pressure.
Demand for passenger vehicle automotive exhaust systems are expected to increase, followed by the demand for light and heavy commercial vehicles, respectively. Governments are implementing strict requirements on the adoption of improved exhaust systems as auto ownership rises in tandem with rising earnings, boosting growth possibilities. Furthermore, if the global transportation sector improves in the future, there is expected to be greater demand for elaborate logistical preparations, which is expected to result in a rise in the fleet of commercial trucks and vehicles. As automobile manufacturers try to implement environmentally friendly ideas, the electric trucks and buses industry has a lot of potentials.
The vehicle exhaust systems market is expected to grow at a rapid pace due to continued reliance on gasoline-powered internal combustion engines. As of 2019, ICE-powered cars accounted for nearly nine out of ten automobiles worldwide. This is particularly evident in emerging markets. While EV popularity in Europe and North America has slowed conventional car sales, the developing world's lack of infrastructure for EV adoption is keeping demand for gasoline-powered cars alive.
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Global Automotive Exhaust Systems Market Regional Insights
Global Automotive Exhaust Systems MarketAsia Pacific region is expected to account for a large share of the global market for automotive exhaust systems. Developing countries such as China and India are likely to grow at significant rates in the Asia Pacific area. Eastern Europe and North America come in second and third, respectively, in Asia Pacific market. High automotive manufacturing and technological improvements are two aspects that contribute to the Asia Pacific market's growth. Furthermore, acceptable working conditions along with low-cost labor are important elements that encourage OEMs to establish manufacturing sectors in the Asia Pacific. On the other hand, rising demand in nations like Japan is propelling global macroeconomic development.
China has the largest automotive market in the world, accounting for more than 32% of global passenger car sales and 15% of global commercial vehicle sales.
China aims for a 50% reduction in hydrocarbons, a 40% decrease in nitrogen oxides (NOx), and a 33% decrease in particulate matter over Euro 6 levels. In China, new gasoline automobiles are required to comply with rules. The Chinese automobile exhaust systems landscape is expected to improve, with the existence of a diverse variety of regional level producers. Qingdao Cartier Industry and Trading Co. Ltd., Nantong Fengyun Auto Parts Co. Ltd., Cixi Jinbei Machinery Fittings Factory and Zhejiang Yueding Corrugated Tube Co. Ltd. are a few of the prominent faces.
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Global Automotive Exhaust Systems Market, by Region
• North America
• Europe
• South America
• MEA
• Asia Pacific
Global Automotive Exhaust Systems Market Key Players
• Faurecia S.A.
• Tenneco Inc.
• Eberspächer Group
• Friedrich Boysen GmbH & Co. KG
• Benteler International AG
• Futaba Industrial Co. Ltd.
• Yutaka Giken Co. Ltd.
• Bosal International N.V.
• Harbin Airui Automotive Exhaust Systems Co. Ltd.
• Sejong Industrial Co. Ltd.
• Chongqing Height Automobile Exhaust System
• Harbin Airui Automotive Exhaust System
• Katcon
• Sejong Industrial
• Marelli Holdings Co. Ltd.
• Tenneco Inc.
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