Automotive Exhaust Systems Market Size, Industry Analysis Report, Regional Outlook, Application Development, Competitive Landscape & Forecast, 2020 – 2026

Report ID: GMI1943

Summary Methodology

Automotive Exhaust Systems Market size is anticipated to experience substantial growth during the forecast timespan owing to escalating environmental concerns stemming from the emission of hazardous exhaust gases from the transportation and mobility sector. Governments worldwide have implemented strict emission control mandates in order to safeguard the environment from further impact of these harmful gases.

For instance, governments in over 39 nations across the globe have employed the Euro VI-equivalent standards for new heavy-duty diesel-powered engines as of July 2019, the latest being China, India, Brazil, Mexico and Colombia. The Euro-VI regulations are designed to ensure the implementation of robust exhaust vehicle exhaust systems to keep NOx (Nitrogen Oxide) and PM (Particulate Matter) emissions in check.

Automotive exhaust systems are an integral component of a vehicle, responsible for vehicle emissions. These systems collect exhaust gases from the engine cylinders and guide them through a central exhaust passage before releasing them into the atmosphere with minimal impact on the vehicle body in terms of noise, vibrations, heat transfer and power loss.

The adoption of stainless steel as a suitable aftermarket automotive exhaust system material is gaining considerable prominence in recent years. This is characterized by the ability of the material to enhance durability, efficiency and overall quality of the system. Material selection is a crucial factor in exhaust system development, owing to stringent regulatory compliances and high warranty requirements.

Materials used for automotive exhaust systems are required to possess several key properties, including resistance to thermo mechanical vibration, internal acid/base corrosion, high temperature oxidation and external salt corrosion, among others. Stainless steel, originally used for decorative automobile trims, possesses these qualities and has thus established itself as an ideal material for the manufacture of exhaust systems. Furthermore, additional benefits offered by stainless steel like weight reduction for enhanced fuel efficiency and the ability meet modern demands for clean exhaust gases are likely to augment automotive exhaust systems industry demand over the forthcoming years.

In terms of technology, SCR (Selective Catalytic Reduction) is progressing rapidly in the automotive exhaust systems market. This is largely due to the fuel efficiency and cost reduction provided by the technology for emission control. SCR technology has the ability to deliver 90% reduction in NOx levels, 30-50% reduction in PM emissions, as well as 50-90% reduction in Co & HC emissions.

Simultaneously, the emergence of RDE (Real Driving Emission) tests has also generated several lucrative prospects for the automotive exhaust system industry outlook. RDE tests are designed to measure a vehicle’s nitrogen oxide emissions while driving, as well as ensure low on-road emissions. RDE tests are part of various emission control initiatives being implemented across the globe.

The roll-out of BS-VI (Bharat Stage VI) in April, for instance, is designed to result in cleaner air and allow automakers to record real driving emissions to facilitate stringent violation norms which will help India achieve a more competitive position in the developed market.

The automotive exhaust systems market consists of prominent entities such as Eberspacher, Tenneco, Sejong Industrial Co., Ltd., Friedrich Boysen GmbH, Benteler, Faurecia, Futaba Industrial Co., Ltd., Sango Co., Ltd., International AG, and Yutaka Giken Co., Ltd.

Numerous strategies, such as partnerships and expansions, are being implemented by these industry players in order to sustain in the increasingly competitive market space. For example, Germany-based firm Eberspaecher Exhaust Technology International and Sharda Motor Industries have recently formed a 50:50 joint venture, dubbed Eberspaecher Sharda Exhaust Technology, to develop, manufacture, and commercialize exhaust aftertreatment systems that are BS-VI compliant, for commercial vehicle producers in India.

The ongoing COVID-19 crisis has led to a considerable decline in pollution and GHG levels, as a result of drastic quarantining and social distancing mandates put into effect by economies across the globe. Although considered to be the largest drop in emissions since WWII, experts have stated that this reduction will likely not have a long-term impact on climate change.

However, industries and entities across the globe, including the automotive sector, are making persistent efforts towards creating structural changes in order to achieve carbon neutrality targets, by adopting more renewable generation, enhancing efficiency standards and moving away from fossil-fuel based systems. These initiatives which are likely to stimulate the market demand in the years ahead, could also pave the way for a more promising sustainability outlook in the post-pandemic era.

What Information does this report contain?

Historical data coverage: 2015 to 2019; Growth Projections: 2020 to 2026.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

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