Automotive Exhaust Systems Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, France, UK, Italy, Russia, China, Japan, India, South Korea, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Application Development, Competitive Landscape & Forecast, 2019 - 2025
Report ID: GMI1943
Automotive Exhaust Systems Market size is anticipated to grow at a significant rate from 2017 to 2024. Adoption of stringent norms and regulations, such as EPA10 and Euro6 by various governments, owing to increasing health issues by harmful emissions will drive the industry over the forecast timeframe. These regulations ensure the integration of enhanced exhaust systems in vehicles to reduce Particulate Matter (PM) and Nitrogen Oxide (NOx) emissions. Large investments by industry participants on advancements in these exhaust systems, such as improved torque and engine horsepower, will induce immense potential to the industry size. Moreover, partnerships of industry players with major automobile manufacturers are likely to have a positive impact on the industry growth.
Shifting consumer preference toward electric vehicles will act as a restraint to the automotive exhaust systems market growth. Finding a cost-effective solution to regulate the internal temperatures for commercial vehicles is likely to pose a challenge for the industry participants. Excessive costs of lightweight components of these systems will further slowdown the industry growth. Moreover, pressure from automobile manufacturers to develop lightweight components will be a threat for this industry.
The use of stainless steel in aftermarket automotive exhaust systems will result in enhanced efficiency and durability that lead to the better quality of the overall product. Industry players are also focusing on developing lightweight devices with advancements on field exhaust systems for the elimination of noise pollution. Advent of compact exhaust systems based on innovative anti-sound principle is anticipated to gain prominence in the industry. These systems will effectively enhance the vehicle’s fuel efficiency.
Selective Catalytic Reduction (SCR) is another technology that has gained traction in the automotive exhaust systems market. It is a cost-reduction and fuel-efficient technology for emissions control. It reduces NOx level by 90%, Co & HC emissions by 50-90%, and PM emissions by 30-50%. Moreover, increasing usage of Gasoline Particulate Filter (GPF) and Diesel Particulate Filter (DPF) have opened growth opportunities for after treatment devices. Advent of Real Driving Emission (RDE) tests has also paved an opportunistic way for this industry. This test measures the NOx emissions from vehicles while driving and ensures low emissions over on-road conditions.
Based on the vehicle type, automotive exhaust systems market can be classified into light commercial vehicles, heavy commercial vehicles, and passenger vehicles. Passenger vehicles is anticipated to dominate the industry over the forecast timeline owing to rising demand for automobiles across the globe. Heavy commercial vehicles will grow at a significant rate owing to their heavy penetration in developed European countries.
By fuel type, the automotive exhaust systems market is segmented into gasoline and diesel. Gasoline is expected to dominate the industry owing to its advantages over diesel. Moreover, this growth is attributed to its excessive usage in passenger vehicles in countries such as the U.S., China, and Japan. Diesel will grow at an exponential rate due to its heavy utilization in heavy commercial vehicles. Increasing demand for these vehicles in developed countries in Europe will further fuel the segment growth over the forecast timeframe.
By after treatment devices, the industry is classified into Diesel Oxidation Catalyst (DOC), Lean Nox Trap (LNT), Diesel Particulate Filter (DPF), Selective Catalytic Reduction (SCR), and Gasoline Particulate Filters (GPF). GPF is anticipated to grow at the fastest rate owing to its heavy adoption due to the latest emission regulations. Its implementation is necessary for controlling PM emission levels from the vehicles.
Based on the component, automotive exhaust systems market can be divided into downpipe, catalytic converter, tailpipe, sensor, manifold, and muffler. Catalytic converter is anticipated to exhibit the highest share in the industry. It can be attributed to the increased production of commercial and passenger vehicles across the globe. Huge investments from the industry on R&D activities for technological advancements to comply with new regulations will further escalate the segment’s growth over the forecast timeline.
Asia Pacific is expected to dominate the automotive exhaust systems market over the forecast time span owing to increased production of automobiles in emerging economies including China and India. China had a significant contribution of above 25% in automobile production in 2015. The presence of various OEMs will escalate the regional growth. Increasing demand in countries, such as South Korea and Japan, along with cheap labor and favorable working conditions will further fuel the industry growth in the region. Europe and North America are likely to showcase a significant growth rate over the forecast time frame owing to stringent regulations regarding emissions.
Friedrich Boysen GmbH, Faurecia, Tenneco, Eberspacher, Sango Co., Ltd., Yutaka Giken Co., Ltd., Sejong Industrial Co., Ltd., Futaba Industrial Co., Ltd., and Benteler International AG. are a few players in automotive exhaust systems market. Industry participants focus on adopting strategies including business expansions and partnerships to gain a competitive edge in the industry. For instance, in July 2017, Faurecia extended its Clean Mobility partnership for emissions control with Components Group and Dongfeng Motor parts. In October 2016, Eberspacher established an exhaust technology factory in Romania to produce exhaust silencers and catalytic converters.
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