The North America Automotive Exhaust Systems Market would witness market growth of 9.3% CAGR during the forecast period (2021-2027).
An automotive exhaust system plays an important role in controlling the emission level released by different types of vehicles. Various manufacturers are using stainless steel as material for decoration trims in automobile. Along with that, as aluminum has low chance of getting rusted, manufacturers are using it for the making of automotive exhaust systems.
Governments’ rules and regulations related to the vehicle emissions like the Clean Air Act by EPA in the US have become more stringent along with the growing penetration of after-treatment gadgets, which would spur the demand for automotive exhaust systems within the automotive industry.
Developed countries across this region like Canada and the US are taking numerous efforts or initiatives to minimize the emission of harmful pollutants from vehicles into the atmosphere. For example, Kyoto Protocol is an agreement signed by the U.S. and other developed nations, which aimed to bind these nations in order to minimize greenhouse gas emissions. In addition, these nations have also motivated the developing countries to participate in the execution of international carbon reduction efforts.
The US market dominated the North America Commercial Vehicles Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $4.15 billion by 2027. The Canada market would exhibit a CAGR of 13.3% during (2021 - 2027). Additionally, The Mexico market is poised to grow a CAGR of 12.3% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Automotive Exhaust Systems Market is Estimated to Reach USD 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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