Automotive Exhaust System Market: Global Industry Analysis and Forecast (2023-2029)

Automotive Exhaust System Market was valued at US$ 44.82 Bn. in 2022. Global Automotive Exhaust System Market size is expected to grow at a CAGR of 6.2% through the forecast period.
Automotive Exhaust System Market Overview:
Automotive manufacturers are being forced to create solutions to reduce emissions from conventional fuel cars by strict vehicle emission laws. This should reduce the serious health issues that individuals experience as a result of car emissions. Vehicles in industrialised areas with emission regulations have gotten cleaner. Approximately 60% of premature fatalities in China and India are related to the growing number of cars. Furthermore, the majority of nitrogen oxide and fine particle emissions are caused by on-road heavy-duty vehicles. Advanced exhaust systems are being developed by automakers to reduce and control vehicle emissions. Heavy diesel engine NOx emissions and fine particle emissions have been decreased because of the use of cutting-edge components like selective catalytic reduction and diesel particulate filters. These elements are probably going to fuel the demand for vehicle exhaust systems.To know about the Research Methodology :- Request Free Sample Report

2022 is considered as a base year to forecast the market from 2023 to 2029. 2022’s market size is estimated on real numbers and outputs of the key players and major players across the globe. Past five years' trends are considered while forecasting the market through 2029. 2021 is a year of exception and analysis especially with the impact of lockdown by region.

Automotive Exhaust System COVID 19 Insights:

The epidemic had a significant impact on all parties involved in the automobile exhaust sector since all factories, production lines, and other operations were shut down. The car sector is experiencing a severe decline as a result of travel restrictions throughout the world. The automobile industry lost 291.3 million USD each day during the epidemic. Lack of raw materials, travel restrictions, and chain interruptions all hurt the sector. Due to ongoing travel restrictions following the epidemic, there is little demand for automobile exhaust.

On the other hand, governments have implemented ineffective regulations to maintain a clean environment since the outbreak. All public transportation services, including trains, buses, and others, have not yet resumed full operations after being restarted. The public's preference for driving will probably increase the market for vehicle exhaust.
Automotive Exhaust System Market Dynamics:
Market Trends: New passenger automobiles are required to generate no more than 168 milligrams of nitrogen oxide per kilometre in accordance with European Regulation (EC) No. VI. To combat environmental risks, rules are also anticipated to get stricter and the maximum emission threshold to drop to 120 milligrams per kilometre in the years to come. One of the major industry trends is that many exhaust manufacturers are heavily investing in R&D to create and construct exhaust systems that are consistent with these constraints. Additionally, as public awareness of car pollution increases, so does the desire for low-emission automobiles with cutting-edge exhaust systems.

Market Drivers: Due to strict government pollution rules, there have been rapid developments in exhaust system technologies such as exhaust after-treatment systems and exhaust gas recirculation (EGR) systems, which are expected to drive market revenue. To comply with upcoming car pollution standards, automakers are creating diesel engine exhaust systems that cut NOx emissions. The demand for advanced exhaust systems for automobiles is forecast to increase as a result of all these aspects related to the evolution and improvement of the automotive exhaust system.

Vehicle sales and production are increasing in emerging nations like China and India due to rapid urbanisation and increased personal disposable income. The sector is forecast to develop as more automobiles with effective exhaust systems are sold and produced. The rise of manufacturers using cutting-edge, environmentally friendly technology to create low-emission automobiles is projected to fuel the market's growth. The demand for low-emission automobiles with cutting-edge exhaust systems is also projected to rise as customers become more conscious of the harmful impacts of pollution on their health and the environment.

Market Restraints: Demand for electric vehicles is rising as people become more conscious of how air pollution from vehicles affects the environment. Additionally, it is predicted that the growth of the automotive exhaust system market will be constrained by the increasing adoption of electric vehicles globally as a result of government subsidies and tax exemption policies throughout the upcoming years.

Global trends indicate that a variety of vehicles, including city buses, taxis, utility trucks, and other vehicles with a short driving range, will switch to electric power in the upcoming years. Compared to traditional fuel vehicles, the initial cost of an electric car is high. Administrative authorities find these cars to be an appealing investment because their operating expenses are significantly lower than those of diesel or gasoline-powered vehicles. The market for exhaust systems is forecast to suffer as a result of these reasons.
Automotive Exhaust System Market Segment Analysis:
Based on Vehicle Type: According to estimates, the passenger automobile category, which now holds the largest market share, will continue to rule the market. This market category is forecast to rise in response to rising passenger automobile sales in developing nations.

It's also forecast that the markets for light and heavy commercial vehicles will expand favourably over the course of the forecast period. Over the forecast period, this market segment is forecast to increase as a result of improvements made by automobile manufacturers to the exhaust systems of diesel engines to minimise fine particles and NOx emissions.



Based on the Fuel Type: Due to customers' growing preference for gasoline over diesel as a consequence of stricter pollution laws, the gasoline fuel type segment is forecast to dominate the market throughout the forecast period.

Over the course of the forecast period, the automotive exhaust system market is expected to witness considerable growth in the alternative fuel type sector. The fuel's ability to be clean and emission-free is the primary driver of this market segment's growth.

Over the course of the forecast period, it is forecast that the market for diesel fuel type will increase steadily. The growth of this market sector is being hindered by strict government emission rules and rising diesel engine pollution.

Based on the Component Type: Because of ongoing developments in muffler components that help reduce vehicle noise and emissions, the muffler component type segment is forecast to experience considerable growth over the course of the forecast period.

Over the course of the forecast period, the automotive exhaust system sector is forecast to develop strongly in the component type segments for connectors, exhaust pipes, and manifolds. These market categories are expected to develop as a result of rising passenger car sales and production.
Automotive Exhaust System Market Regional Insights:
The APAC region dominated the market with 40% share in 2022. Over the forecast period, Asia-Pacific is expected to hold the majority of the market share for automotive exhaust systems. Rising individual disposable income, rising GDP, and rising urbanisation are factors contributing to the growth of the market in this area. Additionally, the cheaper cost of labour and resources is luring several firms to set up production facilities in this area, and this factor is forecast to accelerate the growth of the regional market.

The European region is expected to witness significant growth at a CAGR of 6.2 V% through the forecast period. The second-largest region in this market, Europe, is forecast to have rapid growth over the forecast period. The region's strict government pollution laws are pushing automakers to create cutting-edge exhaust systems. This, together with the increasing use of low-emission automobiles in the area, are elements that are forecast to fuel the market's growth there.

The objective of the report is to present a comprehensive analysis of the global Automotive Exhaust System Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Automotive Exhaust System Market dynamic, structure by analyzing the market segments and projecting the Automotive Exhaust System Market size. Clear representation of competitive analysis of key players by Vehicle type, price, financial position, product portfolio, growth strategies, and regional presence in the Automotive Exhaust System Market make the report investor’s guide.
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Global Automotive Exhaust System Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US$ 44.82 Bn.


Forecast Period 2023 to 2029 CAGR:
6.2%
Market Size in 2029:
US$ 68.3 Bn.


 Segments Covered:
by Vehicle Type
Passenger Cars
Light Commercial Vehicle
Heavy Commercial Vehicle


by Fuel Type
Gasoline
Diesel
Alternative Fuel


by Component Type
Manifold
Muffler
Exhaust Pipe
Connector



Automotive Exhaust System Market by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Automotive Exhaust System Market Key Players
1.Continental AG
2.Faurecia
3.BENTELER International
4.Eberspaecher
5.Yutaka Giken Company Limited
6.Sejong Industrial Co., Ltd.
7.BOSAL
8.Tenneco Inc.
9.Johnson Matthey
10.BASF SE
11.Eberspächer
12.Umicore
13.Klarius Products Ltd

Frequently Asked Questions:

1] What segments are covered in the Global Automotive Exhaust System Market report?
Ans. The segments covered in the Automotive Exhaust System Market report are based on Vehicle Type, Fuel Type and Component Type.

2] Which region is expected to hold the highest share in the Global Automotive Exhaust System Market?
Ans. The Asia-Pacific region is expected to hold the highest share in the Automotive Exhaust System Market.

3] What is the market size of the Global Automotive Exhaust System Market by 2029?
Ans. The market size of the Automotive Exhaust System Market by 2029 is expected to reach US$ 68.3 Bn.

4] What is the forecast period for the Global Automotive Exhaust System Market?
Ans. The forecast period for the Automotive Exhaust System Market is 2023-2029.

5] What was the market size of the Global Automotive Exhaust System Market in 2022?
Ans. The market size of the Automotive Exhaust System Market in 2022 was valued at US$ 44.82 Bn.