Automotive Exhaust System Market is Projected to Reach by USD 156.38 Billion , at a 6.2% CAGR by 2030 – Report by Market Research Future (MRFR)
New York, US, March 13, 2023 (GLOBE NEWSWIRE) — According to a Comprehensive Research Report by Market Research Future (MRFR), “Automotive Exhaust System Market information, By Component Type, After Treatment Device, Fuel Type, Vehicle Type and Region – Forecast 2030”, Throughout the projected period of 2022 to 2030, the share for automotive exhaust systems market is anticipated to increase by USD 156.38 Billion at a CAGR of 6.2%.
Automotive Exhaust System Market Overview
Vehicle exhaust systems have a significant role in the overall design of the car. The growing emphasis on creating solutions to satisfy international emission regulations is predicted to have an impact on the utilisation of exhaust systems in the car manufacturing industry. Due to reasons including legal restrictions, growing consumer awareness, and the advent of automotive companies that use cutting-edge and environmentally friendly technologies, the global automotive exhaust system market for vehicle exhaust systems is expanding. The primary elements of a car exhaust system are the engine, automotive exhaust manifold, automotive exhaust valve, automotive exhaust pipe, silencer, muffler, and vehicle tailpipe.
The main purpose of automotive exhaust systems is to let out the exhaust gases that an internal combustion engine produces.
Market Key Players
The major player operating in the market of global automotive exhaust system market are
- Faurecia SA (France),
- Tenneco Inc. (U.S.),
- Eberspächer GmbH & Co. Kg. (Germany),
- Futaba Industrial Co. Ltd. (Japan)
- Sango Co. Ltd. (Japan),
- Benteler International AG. (Germany),
- Friedrich Boysen GmbH & Co. Kg. (Germany),
- Yutaka Giken Co. Ltd. (Japan),
- Sejong Industrial Co., Ltd. (South Korea),
- Bosal International NV (Belgium)
- Among others.
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Automotive Exhaust System Market expansion has been hampered by factors such as high pressure required to force exhaust through the filtering system, a lack of biodiesel-compatible filtering systems, the requirement for highway driving to remove accumulated soot from passive regeneration systems, and complex urea injection setup. Nonetheless, there is a recovery in the global car industry, and new market opportunities are being created by the expansion of manufacturing facilities in developing nations like Mexico and India.
Major rising nations like China, India, Thailand, Indonesia, and others are evolving into manufacturing centres for major automobile companies as a result of the extraordinary level of change that the global economy is witnessing.
Automotive Exhaust System Market Report Scope:
|Market Size by 2030||2030: USD 4,481 Million|
|CAGR during 2022-2030||6.2% CAGR|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Key Market Opportunities|| Utilize advanced|
|Key Market Drivers|| Regulatory obligations|
Increasing consumer awareness
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People are increasingly able to purchase their own car as a result of rising affluence in emerging nations, notably in expanding Asian economies like China and India. Leading global automakers including Volkswagen, BMW, Toyota, and Ford are expanding into new emerging regions in order to take advantage of consumers’ growing desires for automobiles. Automotive exhaust gas recirculation (EGR) systems and associated components will become more and more in demand as international automakers continue to enter developing and emerging markets.
To comply with increasingly stringent emissions requirements, Automakers are working around the world to limit the emission of soot particles and nitrogen oxides from engines.
Manufacturers of exhaust systems are concentrating on boosting their output in order to meet the growing demand for these systems.
The market has been divided into Manifold, Downpipe, Catalyst Converter, Muffler, Tailpipe, and Others segments based on component type. The manifold, which is attached at the cylinder head, transports gases directly into the exhaust system following the combustion process. The muffler dampens the loud noise the engine’s exhaust gases make while the catalytic converter converts the engine’s toxic exhaust gases into less dangerous gases for the environment.
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Automotive Exhaust System Market Regional Insights
The regions of North America, Asia Pacific, Europe, and the Rest of the World have been divided up into segments of the global automotive exhaust system market.
Due to the presence of developing countries like China, India, and Japan, the Asia Pacific region is anticipated to experience the quickest growth in the worldwide automotive exhaust system market. Due to the huge demand for both passenger and commercial vehicles in this region as well as their plans to grow their operations there, many automotive behemoths are also concentrating on it.
The second-largest market for automobile exhaust systems is anticipated to be in Europe. Several initiatives are being taken by the European Commission and other states. Due to the strict European emission rules, vehicle Makers are exerting substantial effort to maintain the industry-recognized emission standards.
The demand for diesel vehicles in the area is rising quickly as a result of developments in diesel technologies and the availability of low sulphur diesel.
The exhaust systems for cars are an essential part of those vehicles. The use of exhaust systems in the car manufacturing sector is anticipated to be impacted by the increased emphasis on the development of technology for fulfilling international emission criteria. The rise of automotive firms that use cutting-edge and environmentally friendly technologies, regulatory requirements, rising consumer awareness, and other factors all contribute to the expansion of the global market for automotive exhaust systems.
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The engine, automotive exhaust manifold, automotive exhaust valve, automotive exhaust pipe, silencer, muffler, and the vehicle tailpipe are the main elements of an automobile exhaust system. Internal combustion engine exhaust gases are primarily released through car exhaust systems.
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