The global automotive exhaust system market size was valued at $77.33 billion in 2018 and is projected to reach $130.17 billion by 2026, registering a CAGR of 6.7% from 2019 to 2026. Asia-Pacific accounted for the highest share in 2018 and is expected to be the highest contributor to the global automotive exhaust system market, in terms of revenue, during the global market forecast.
The automotive exhaust system is installed in the vehicles to collect the exhaust gases from the cylinder, removes harmful substances & impurities, reduces the level of noise and discharges the purified exhaust gas. The exhaust system consists of one or two channels depending on the engine and the flow resistance is selected so that the exhaust backpressure should not degrade the engine performance. In addition, exhaust manifold, exhaust pipes, catalytic converter, muffler, and the tail pipe are the major components of exhaust system. Also, the automotive exhaust system is majorly installed for to reduce the emission of harmful gases into environment and increase the efficiency of the engine.
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Major Market Players:
- Johnson Matthey
- BASF SE
- Tenneco Inc
- Eberspächer
- Umicore
- BENTELER International
- BOSAL
- Sejong Industrial Co.,Ltd
- Klarius Products Ltd
- Faurecia
Factors such as stringent government regulations for emission control and increase in automobile production are driving the growth of automotive exhaust market. In addition, adoption of nanotechnology in catalytic converters is anticipated propel the growth of market. However, growing electric vehicle production and high cost of automotive catalysts hinders the growth of automotive exhaust system market. Further, innovations in automotive catalysts and government initiatives in developing nations for emission reduction holds remarkable growth opportunity for the key player operating in the market.
The global automotive exhaust system market is segmented based on technology, fuel type, vehicle type, and geography. Based on technology, the market is divided into Diesel Oxidation Catalyst (DOC), Diesel Particulate Filter (DPF), Selective catalytic reduction (SCR), Exhaust gas recirculation (EGR), Gasoline Particulate Filter (GPF), and others. Based on fuel type, it is bifurcated into gasoline and diesel. Based on vehicle type, market is categorized as Passenger Cars and Commercial Vehicles. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Market Segments
- BY VEHICLE TYPE
- PASSENGER CARS
- COMMERCIAL VEHICLES
- BY TECHNOLOGY
- Diesel Oxidation Catalyst (DOC)
- Diesel Particulate Filter (DPF)
- Selective catalytic reduction (SCR)
- Exhaust gas recirculation (EGR)
- Gasoline Particulate Filter (GPF)
- Others
- BY FUEL TYPE
- Gasoline
- Diesel
Government has established stringent regulation for pollutant gas emission from the vehicles because of combustion of fuels such as diesel fuel, fuel oil, petrol, gasoline, biodiesel, and others. Euro 6 is a latest emission regulation by European union directive to reduce harmful gases such as carbon monoxide (CO), nitrogen oxide (NOx), hydrocarbons, and others from exhaust system of the vehicle. Similarly, automotive catalyst is used in automotive exhaust systems such as catalyst converters, diesel particulate filters (DPF), diesel oxidation catalyst (DOC), and other emission control devices used to convert toxic and harmful gases from engines into less-toxic pollutant and help to meet the government emission standards. Thus, such stringent government regulations to control the emission from automobiles fuel the growth of the automotive exhaust system market.
Developing nations witness a rise in demand and production of automobile. For instance, India became the fourth largest automobile industry in the world with the increase in sales of 9.5% year-on-year to 4.2 million units. This rise in automobile production in the developing nations automatically leads to increased production in demand for automotive catalysts for emission control devices in automobile exhaust systems. Therefore, increase in automobile production is anticipated to boost the growth of the automotive exhaust system market.
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Key Benefits for Stakeholders:
- This study presents the analytical depiction of the global automotive exhaust system market analysis along with the current trends and future estimations to depict the imminent investment pockets.
- The overall automotive exhaust system market opportunity is determined by understanding the profitable trends to gain a stronger foothold.
- The report presents information related to the key drivers, restraints, and opportunities of the global market with a detailed impact analysis.
- The current automotive exhaust system market is quantitatively analyzed from 2019 to 2026 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers in the industry.
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