Exhaust system demand will grow at a CAGR of 5.9% and

ROCKVILLE, Md., Feb. 22 2022 (GLOBE NEWSWIRE) — Fact.MR has published a new report on the exhaust systems market for the forecast period of 2017 to 2022. The report estimates that the global exhaust systems market is likely to reach a valuation of US$57.5 billion by 2022, and is further expected to reach US$102 billion, with a CAGR of 5.9% from 2022 to 2032.

From 2017 to 2021, sales grew at a CAGR of 4%. Almost all modern vehicles are equipped with exhaust systems as a crucial part of their overall infrastructure. However, the process of redesigning automotive technologies to reduce carbon dioxide emissions and environmental degradation will likely affect the applications of these technologies within the automotive industry.

the exhaust systems market growth is strongly influenced by macroeconomic and microeconomic factors. In the near future, new regulatory directives relating to emissions controls are expected to change the industry landscape. Advancements in materials science technologies, rise of fuel-efficient automobiles, and deliberate emphasis on research and development are some of the key trends driving the dynamics of the exhaust systems market.

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Key insights from market research

  • By vehicle type, passenger cars account for more than 3/4 of global exhaust system sales
  • Petrol exhaust systems will account for 83% of total market revenue
  • With over 60% of the market, OEMs should continue to thrive in the exhaust systems market.
  • The United States will generate attractive growth prospects, which are expected to be valued at US$10 billion by 2022
  • China to See Highest Market Growth, Expected to Register CAGR of 7%
  • India to See 6.5% CAGR in Exhaust System Sales till 2032
  • UK to account for more than 2 in 5 exhaust system sales in 2022 and beyond

“During the forecast period, major automotive exhaust system manufacturers are focusing on developing strategies based on Selective Catalytic Reduction (SCR) technology to reduce emissions. As a result, many innovations and new products are expected to be launched, leading to a substantial expansion of revenue pools,” says an analyst from Fact.MR.

Key segments covered in the Exhaust Systems market report
By type of vehicle

  • Passenger car exhaust system
  • LCV exhaust system
  • HCV exhaust system

By fuel type

  • Diesel exhaust system
  • Gas exhaust system

By sales channel

  • Stock exhaust system
  • Aftermarket exhaust system

Which distribution channel is likely to represent the maximum sales of exhaust systems?
By far, OEMs are expected to be the most lucrative sales channel in the exhaust systems market. With the massive transmutations undergone by the global automotive industry, exhaust system OEMs will need to keep up with these technological advancements.

With over 60% market share, OEM prosperity in the exhaust systems market is likely to persist and not deteriorate any time soon. To continue this prosperity, OEMs will need to keep up with rapid technological advances.

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Competitive landscape
This competitive landscape of Exhaust Systems Market spells out the competitive dynamics in terms of crucial parameters such as relative market establishment, product offerings, and differential strategies adopted by major players operating in the Exhaust Systems market .

  • In May 2021, Futaba Industrial Co., Ltd expressed its intention to participate in Automotive Engineering Exposition 2021 Online. The company plans to exhibit exhaust and vehicle components that reduce emissions, increase fuel efficiency and reduce weight in support of the SDGs (Sustainable Development Goals).
  • In November 2021, Faurecia announced its intention to acquire Hella, a German supplier specializing in the production of automotive lighting and electronics products in a €6.8 billion deal. Together, the companies will become the 7th largest automotive supplier that will be well placed to meet new challenges such as autonomous driving, electric mobility and the cockpit of the future.

Main manufacturers of exhaust systems:

  • Futaba Industrial Co.Ltd.
  • Faurecia SE
  • Tenneco Automotive Pvt. ltd.
  • Sejong Industrial Co.Ltd.
  • Friedrich Boysen GmbH & Co. KG
  • Benteler International AG
  • Eberspacher
  • Yutaka Giken Co. Ltd.

How opportunistic is the exhaust systems market in the United States?
The US automotive exhaust system market is expected to reach US$10 billion in 2022. With the implementation of stringent emission standards, the US automotive exhaust system market is poised to grow significantly in the years to come.

To increase the performance and efficiency of automobiles, several manufacturers are developing performance exhaust systems to help them increase the efficiency of their vehicle and operate at peak efficiency. Due to the increasing penetration of electric vehicles, the growth of the exhaust systems market is likely to slow down in the near future.

With an increasing number of car manufacturers entering the market, the demand for exhaust systems has increased. The increased market demand for heavy vehicles in these regions has led to an increase in market demand for exhaust systems. All these factors have propelled the market demand for exhaust systems.

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Automotive Transmission System Revenue Analysis 2016-2020 vs Future Outlook 2021-2031– Future growth depends on the ever stricter stance on fuel emission standards in major automotive production centers. This requires the incorporation of efficient braking and transmission systems. Thus, due to the reasons mentioned above, the sales of automotive transmission systems are expected to grow at a CAGR of 6.3% over the forecast period 2021-2031.

Key Points Covered in Automotive Switches Industry Survey– The automotive industry has undergone a major transformation in recent years. The growing demand for passenger safety and comfort forces automakers to continuously focus on creating new design experiences by effectively integrating the latest technologies and workflows.

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