The Europe Automotive Exhaust Systems Market would witness market growth of 10.4% CAGR during the forecast period (2021-2027).
Automotive OEMs are majorly operating in various aspects like new & lightweight materials, drivetrain efficiency & aerodynamic design, to minimize the vehicular weight. Traditional exhaust systems and their parts are made by utilizing materials like cast iron, stainless steel, and mild steel/carbon steel.
On the Contrary, various exhaust system manufacturers, automotive OEMs, and other companies are majorly functioning to offer lightweight products manufactured from composite metals with high-temperature resistance. For example, Tenneco introduced lightweight compact systems and after-treatment & dosing systems to enhance the fuel economy as well as thermal management of the automotive exhaust system and overall vehicle performance.
Heavy industry of Europe is being under immense pressure to reduce the emission level of the region. Since 2013, the greenhouse gas output by the European industry has hardly decreased, and this trend has been noticed by policymakers. Additionally, the EU is planning to introduce a carbon border tax in order to promote emissions cuts in various sectors like chemicals, steel, and cement. Due to this, industrial sectors would witness a cut down in their free allocation of allowances within the EU emissions trading system (ETS), for protection against inexpensive imports.
The Germany market dominated the Europe Gasoline Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $3.70 billion by 2027. The UK market would experience a CAGR of 9.1% during (2021 - 2027). Additionally, The France market is anticipated to grow a CAGR of 11.6% during (2021 - 2027).
Based on Fuel Type, the market is segmented into Gasoline and Diesel. Based on Component, the market is segmented into Exhaust Manifold, Muffler, Catalytic Converter, Exhaust Pipes and Oxygen Sensor. Based on Vehicle Type, the market is segmented into Passenger Car and Commercial Vehicles. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Automotive Exhaust Systems Market Size will Hit $93.8507 billion by 2027, at a CAGR of 10.9%
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 Country
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