The Global Automotive Exhaust Systems Market size is expected to reach $93.8507 billion by 2027, rising at a market growth of 10.9% CAGR during the forecast period.
An automotive exhaust system is a part of an automobile that helps in carrying waste combustion products from the engine and decreases its noise. This system includes exhaust valves, which enable burned gases & particulate matter to go through the inbuilt ports into exhaust manifolds. Such exhaust manifolds integrate the channel into a one outlet pipe, wherein resonators & mufflers release the exhaust gases in the atmosphere via the tailpipe.
The muffler is one of the major parts embedded into an exhaust system. In appearance, the muffler looks like a big round or oval chamber, which is generally, not always, found close to the back of the car. This chamber is complicated in design, but it's accountable for minimizing the overall noise of the engine, even if it has to enable the exhaust to continue to flow through the pile smoothly.
Additionally, the rise in disposable income across different segments of society has contributed to the growth of the automobile sector within the emerged nations like France. The increasing demand for passenger & commercial vehicles across the Asia Pacific, the Middle East, and Africa, and Latin America would open new growth avenues for the automotive exhaust systems market.
There are numerous engine modifications that vary emission qualities, have been implemented successfully. These modifications include delayed spark timing, altered air-fuel ratios, reduced compression ratios, low combustion chamber surface-to-volume ratios, and improved production tolerances. Preheated air from an exhaust manifold exchanger is ducted to the air cleaner to improve drivability in some configurations.
With the outbreak of the global COVID-19 pandemic, the demand for automobiles has significantly declined. It is owing to the impositions enforced by governments on manufacturers like a temporary ban on import & export of raw materials, the shutdown of manufacturing units, and complete or partial lockdown. Various industries like hospitality, manufacturing, and entertainment have undergone substantial changes due to the pandemic situation.
Since the automotive industry has witnessed a decline in the sales of passenger & commercial vehicles across the world, the demand for after-treatment systems has been recorded to be negligible. Though, as various governments have provided some relaxations for the lockdown norms and enabled companies to operate with a limited workforce along with following social distancing norms, the automotive exhaust systems market would get back on the track during this recovery phase.
With the rising inclination of the customers and manufacturers towards sustainability, the demand for efficient and high-performance automotive vehicles has surged. Since the condition of the environment is rapidly degrading due to the high-level emission rate from cars. These concerns among customers have motivated manufacturers to make systems that can reduce the level of emission and can detoxify the gases produced from fuel burning.
Several manufacturers of automotive exhaust systems are increasingly investing in the enhancements and development of the latest catalysts. The usage of a three-way catalyst can help in minimizing the emitted pollutant from the vehicle at 100% efficiency in conversion at its operational temperature, generally above 400ºC that is a higher temperature than the conventional systems. Many companies are highly focused on the development of such advanced catalysts as they are among the key parts of the exhaust systems.
In the last few years, the demand and sales of electric vehicles have surged across the world. It is due to various factors like high focus on sustainable development, constantly changing environmental conditions, high level of air pollutions, and others. Additionally, electric vehicles have numerous benefits over fuel-powered automobiles, which would attract more customers. Electric vehicles release zero emissions, which makes them a better option for driving to protect the environment.
Based on fuel type, the automotive exhaust systems market is fragmented into gasoline and diesel. The gasoline segment procured the highest revenue share in the automotive exhaust systems market in 2020 and is projected to continue this trend during the forecast period. The majority of the vehicles operating in the emerging nations are fully embedded with an internal combustion engine.
Based on component, the automotive exhaust systems market is segmented into the exhaust manifold, muffler, catalytic converter, oxygen sensor, and exhaust pipes. The exhaust manifold segment acquired the highest market share in the market in 2020 and is anticipated to display a promising growth rate during the forecast period. Exhaust manifolds are majorly made up of cast iron or stainless steel, which helps in collecting engine exhaust gas from various cylinders and providing it to the exhaust pipe.
Based on vehicle type, the automotive exhaust systems market is classified into passenger cars and commercial vehicles. In 2020, the passenger car segment acquired the maximum revenue share in the automotive exhaust systems market. This segment is estimated to display a significant growth rate during the forecast period. There is an increase in the number of passenger cars across the world. For instance, in Europe, as per the European Automobile Manufacturers' Association (ACEA), in 2019, vehicles per capita were 569 vehicles per 1,000 inhabitants.
| Report Attribute | Details |
|---|---|
| Market size value in 2020 | USD 40.4 Billion |
| Market size forecast in 2027 | USD 93.8507 billion |
| Base Year | 2020 |
| Historical Period | 2017 to 2019 |
| Forecast Period | 2021 to 2027 |
| Revenue Growth Rate | CAGR of 10.9% from 2021 to 2027 |
| Number of Pages | 202 |
| Number of Tables | 354 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Fuel Type, Component, Vehicle Type, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region-wise, the automotive exhaust systems market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific region dominated the automotive exhaust systems market with the highest revenue share in 2020 and is estimated to witness a significant growth rate over the forecast period. With the growing technological advancements, various manufacturers are developing high performance exhaust systems to enable automotive manufacturers to boost the vehicle efficiency and operations.
Free Valuable Insights: Global Automotive Exhaust Systems Market size to reach USD 93.8507 billion by 2027
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Tenneco, Inc., Yutaka Giken Company Limited (Honda Motor Company), Benteler International AG, Continental AG, Bosal International N.V., Eberspächer Gruppe GmbH & Co. KG, Faurecia (Groupe PSA), Futaba Industrial Co., Ltd., Friedrich Boysen GmbH & Co. KG, and Sejong Industrial Co., Ltd.
By Fuel Type
By Component
By Vehicle Type
By Geography
The automotive exhaust systems market size is projected to reach USD 93.8507 billion by 2027.
Growing environmental awareness are driving the market in coming years, however, Increasing adoption of electric vehicles have limited the growth of the market.
Tenneco, Inc., Yutaka Giken Company Limited (Honda Motor Company), Benteler International AG, Continental AG, Bosal International N.V., Eberspächer Gruppe GmbH & Co. KG, Faurecia (Groupe PSA), Futaba Industrial Co., Ltd., Friedrich Boysen GmbH & Co. KG, and Sejong Industrial Co., Ltd.
The expected CAGR of the automotive exhaust systems market is 10.9% from 2021 to 2027.
Though, as various governments have provided some relaxations for the lockdown norms and enabled companies to operate with a limited workforce along with following social distancing norms, the automotive exhaust systems market would get back on the track during this recovery phase.
The Asia Pacific market dominated the Global Automotive Exhaust Systems Market by Region in 2020, and would continue to be a dominant market till 2027.
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