Rapid Growth of the Automotive Industry Expected to Drive World Automotive Exhaust System Market over the Forecast Period: Ken Research

Automotive exhaust system is an integral component of the automobiles vehicle. It is primarily used for releasing the automotive exhaust gases from an internal combustion engine. It includes catalytic converter, which aids clean the gases & other parts. It includes one or more exhaust pipes, which depends on the overall system design. The exhaust system is carefully designed to collects the exhaust gases or noxious gases (hydrocarbons, nitrogen-oxides, and carbon monoxide) from the cylinders, eliminates harmful substances, decreases the level of noise and discharges the filtered exhaust gases at an appropriate point of the vehicle away from its occupants.

According to study, “World Automotive Exhaust System Market Research Report 2024(covering USA, EU, China, South East Asia, Japan and etc)” the key companies operating in the world automotive exhaust system market are Faurecia SA, SANGO Co. Ltd., HITER, Wanxiang, Yutaka Giken Co. Ltd., Benteler International AG, Boysen, Futaba Industrial Co. Ltd., Tenneco Inc., Airui, Benteler International AG., Friedrich Boysen GmbH & Co. Kg., Eberspacher GmbH & Co. Kg, Bosal International NV., Catar, Sejong Industrial Co., Ltd. The key players are focusing on developing lightweight devices with advancements on field exhaust systems for elimination of noise pollution. Advent of compressed exhaust systems based on innovative anti-sound principle is estimated to gain prominence in the industry. These systems will effectively increase the vehicle’s fuel efficiency.

Global Automotive Exhaust System Market

Based on type, automotive exhaust system market is segmented into single exhaust system and dual exhaust system. Based on component type, market is segmented into catalyst converter, downpipe, manifold, tailpipe, muffler and others. Based on after treatment device, market is segmented into Lean NOx Trap (LNT), Diesel Oxidation Catalyst (DOC), Selective Catalytic Reduction (SCR) and Diesel Particulate Filter (DPF). Based on fuel type, market is segmented into gasoline and diesel. Diesel segment is expected to witness higher growth rate owing to advancements in diesel technologies and availability of low sulfur diesel over the forecast period. Based on vehicle type, market is segmented into passenger Car, construction equipment, Light Commercial Vehicles (LCV), Heavy Commercial Vehicles (HCV), and agriculture tractor. In addition, based on sales channel, market is segmented into aftermarket and Original Equipment Manufacturers (OEM).

The automotive exhaust system market is driven by rapid growth of the automotive industry, followed by rise in disposable income of consumers, increase in infrastructure & other commercial projects, emergence of automotive companies, increase in consumer awareness, growth in demand for commercial vehicles, increase in incorporation of catalytic converters and rise in demand for effective & unobtrusive catalytic converter units. However, shifting consumer preference toward electric vehicles and high cost of lightweight exhaust components may impact the market.

Based on geography, China and Japan countries hold major share in automotive exhaust system market owing to growth in volume of sale of passenger vehicles in the countries. USA and EU are expected to showcase a substantial growth rate over the forecast time frame due to stringent regulations regarding emissions. The global market is expected to grow at a CAGR of approximately 4.6% over the next five years, will reach US $46100 million in 2024, from US $35200 million in 2019.

For more information, refer to below link:-

Global Automotive Exhaust System Market

Related Report:-

Global Automotive Exhaust System Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024

Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications

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