Global Exhaust System Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Exhaust System Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global exhaust system market report has been segmented on the basis of after-treatment device, component, vehicle type, and region.
Global Exhaust System Market: Overview
Exhaust system is widely used for removing toxic fumes and gases that are emitting from vehicles. Exhaust systems collects gases from the cylinder head of an engine by an exhaust manifold. This exhaust manifold acts as a funnel which diverts exhaust gases from cylinders and then releases through an opening called front pipe.
Global Exhaust System Market: Dynamics
Increasing concerns associated with fuel emission from different types of vehicles is a key factor expected to proliferate adoption of exhaust systems across the globe. Growing demand for advancement in exhaust systems in automotive sector due to increasing emission regulations and fuel economy standards. This is a major factor expected to boost growth of the global exhaust system market.
Increasing trade activities is resulting into high production of on-highway vehicles and this production is leads to increased emissions from these vehicles. This production is another factor expected to fuel growth of the target market due to benefits offered by exhaust systems such as more power, improved fuel economy, and improved performance.
Moreover, increasing partnerships between original equipment manufacturers and exhaust system manufacturers is expected to support growth of the global market. For instance, 50-50 joint venture agreement was signed between companies named Tata AutoComp Systems (Tata AutoComp) and Katcon Global to offer various types of emission and exhaust after-treatment systems to Indian automotive manufacturers. The Tata AutoComp Systems (Tata AutoComp) offers various services and products in India and is a global automotive original equipment manufacturer, and Tier 1 suppliers; the Mexico-based Katcon is a manufacturer and supplier after-treatment and exhaust systems.
However, high cost associated with lightweight exhaust components and increasing sales of battery electric vehicles are major factor expected to restraint growth of the global exhaust system market to a certain extent.
In addition, global harmonization of various emission regulations and complexity associated while improving low-cost diesel and performance after-treatment systems are among some other challenging factors expected to hamper growth of the potential market in the near future.
Global Exhaust System Market: Opportunities and Trend
Increasing technological advancement in exhaust heat recovery systems, increasing utilization of gasoline particulate filter (GPF) with advanced gasoline direct injection (GDI) engine are major factors expected to contribute high revenue growth opportunities for players in the global market.
Increasing industrial change towards selective catalytic reduction technology and increasing development of high-flow automotive catalytic converter by automotive manufacturers for efficient fuel consumption. These are key trends observed in the global market which in turn is expected to proliferate growth of the target market in the coming 10 years.
Global Exhaust System Market: Segment Analysis
Among the vehicle type segments the light duty vehicles segment is expected to register highest revenue share in the global exhaust system market
Global Exhaust System Market: Regional Analysis
The exhaust system market in Asia Pacific is expected to register highest CAGR and is expected to dominate in the global market, owing to high production and sales of automobiles, increasing GDP, increasing per capita income, rising urbanization, and increasing industrialization. In addition, growing focus towards environment friendly products is another factor expected to support growth of the target market in this region.
Moreover, market in North America is expected to register second highest CAGR in the global market during the forecast period, followed by the market in Europe region. Increasing adherence to emission regulations such as Euro 4 to Euro 6, which in turn reduced PM and NOx levels significantly is a factor expected to support growth of the potential market over the forecast period.
Global Exhaust System Market Segmentation:
Segmentation by After-Treatment Device:
- Lean NOx Trap
- Diesel Particulate Filter
- Diesel Oxidation Catalyst
- Others (Gasoline Particulate Filter and Selective Catalytic Converter)
Segmentation by Component:
- Downpipe (Exhaust Manifold and Catalytic Converter)
Segmentation by Vehicle Type:
- Light Duty Vehicle
- Heavy Duty Vehicle
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Estimated Year 2020 Actual Year 2021 Forecast Period 2021–2030 Revenue in US$
- Faurecia S.A.
- Tenneco, Inc.
- Bosal International N.V
- Benteler International AG
- Futaba Industrial Co., Ltd
- Yutaka Giken Co., Ltd.
- Sejong Industrial Co., Ltd
- Friedrich Boysen GmbH & Co. KG
- Continental Aktiengesellschaft
- Eberspächer Gruppe GmbH & Co. KG company
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