Automotive Exhaust Systems Industry Overview
The global automotive exhaust systems market size is expected to reach USD 68.45 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.2% from 2021 to 2028. Stringent government regulations associated with vehicle emissions coupled with the increasing penetration of after-treatment devices are anticipated to drive the demand for automotive exhaust systems. Moreover, the increasing sales of passenger cars and commercial vehicles along with the growing demand for lightweight emission systems are expected to create significant opportunities for players operating across the value chain of the market.
Automotive Exhaust Systems Market Segmentation
Grand View Research has segmented the global automotive exhaust systems market based on component, fuel type, vehicle type, and region:
Based on the Component Insights, the market is segmented into Exhaust Manifold, Muffler, Catalytic Converter, Oxygen Sensor, Exhaust Pipes.
- In 2020, the exhaust manifold segment accounted for a dominant share of around 39% and is estimated to expand at a significant CAGR over the forecast period due to its high price compared to other components.
- The muffler segment is projected to register the highest CAGR of over 7.0% over the forecast period, accounting for a majority of the sales of automotive exhaust system components by 2028. As emission norms get stricter, automotive OEMs are focusing on incorporating efficient exhaust systems to curb noise pollution levels and reduce toxic emissions.
Based on the Fuel Type Insights, the market is segmented into Gasoline, Diesel.
- The market has been segmented into gasoline and diesel. The gasoline segment accounted for the largest revenue share of around 80% in 2020 and is anticipated to maintain its dominance over the forecast period. In the emerging economies, 9 out of 10 vehicles are equipped with an internal combustion engine.
- While the popularity of electric vehicles in regions such as North America and Europe has dwindled ICE vehicle sales, limited electric vehicle infrastructure in emerging countries continues to contribute to the growing sales of gasoline-driven vehicles.
- However, governments around the world are planning to ban the sales of ICE vehicles and encourage EV adoption. In 2017, France and the U.K. announced plans to ban the sales of diesel and petrol cars and vans by 2040.
Based on the Vehicle Type Insights, the market is segmented into Passenger Car, Commercial Vehicles.
- The passenger car segment accounted for the largest revenue share of over 70% in 2020 and is anticipated to maintain its dominance over the forecast period. The segment is estimated to expand at a CAGR of over 5.0% over the forecast period.
- Passenger cars occupied the majority share of over 71% of the total vehicle production in 2020. In Europe, according to European Automobile Manufacturers' Association (ACEA), vehicles per capita were recorded at 569 vehicles per 1,000 inhabitants in 2019.
- The commercial vehicles segment is projected to expand at the highest CAGR of over 8.0% from 2021 to 2028. The growth can be attributed to the increasing demand for heavy trucks across the logistics and transportation sectors. Logistics is one of the key end-use industries for commercial vehicles.
Automotive Exhaust Systems Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East Africa (MEA)
Key Companies Profile Market Share Insights
Market players also focus on expansion to increase their presence across untapped markets. For instance, in March 2021, Eberspacher announced the opening of a new plant for exhaust technology in Ramos Arizpe, close to Saltillo, Mexico.
Some prominent players in the global automotive exhaust systems market include
- BENTELER International
- Bosal
- Continental AG
- Eberspacher
- Faurecia
- FUTABA INDUSTRIAL CO., LTD.
- Friedrich Boysen
- Sejong Industrial Co., Ltd.
- Tenneco Inc.
- Yutaka Giken Company Limited
Order a free sample PDF of the Automotive Exhaust Systems Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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