Global Automotive Exhaust System Market Overview
Global Automotive Exhaust system industry is one of the major automotive sub-markets. Rise in vehicle sales has reflected favourably on the global Global Automotive Exhaust system market. Market Research Future (MRFR) projects that the global market for Global Automotive Exhaust systems will grow at 7% CAGR during the forecast period (2017-2023). Global Automotive Exhaust system is a combination of multiple components such as Global Automotive Exhaust manifold, Global Automotive Exhaust pipe, vehicle tailpipe, Global Automotive Exhaust valve, silencer, muffler among others. Stricter emission guidelines have made a significant influence on the automotive sector. OEMs strive to ensure long-term sustainability.
Over the years, vehicles and automotive components have undergone various technological evolutions. This is partly owing to the changing norms and efforts towards making that eco-friendly. The exhaust system has also had its fair share of evolution and remains integral part of modern automotive. Emission guidelines set by government bodies continue to impact the design and efficacy of automotive component. OEMs all over the world are focusing on reduces emission of carbon dioxide from vehicles. Moreover, increased level of awareness among consumers coupled with the emergence of electric and hybrid cars is expected to influence the automotive sector in the forthcoming years.
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Integration of technologies that reduces carbon emission is led to introduction of more efficient components. The arrival of SCR (selective catalytic reduction) catalytic converter is viewed as a stepping stone. The technology not only reduces the emission of nitrogen oxide but also helps in achieving greater fuel efficiency. For market players, focusing on the clean technologies and solution will be important.
The segmental analysis of the Global Automotive Exhaust System Market has been conducted based on fuel type, component, after treatment device and vehicle type.
On the basis of fuel type, the market has been segmented into gasoline and diesel. On the basis of component, the market has been segmented into downpipe, muffler, manifold, tailpipe, catalyst converter and other. On the basis of after treatment device, the market has been segmented into Selective Catalytic reduction (SCR), Comprises Diesel Oxidation Catalyst (DOC), Lean NOx Trap (LNT), and Diesel Particulate Filter (DPF). On the basis of vehicle type, the market has been segmented into commercial vehicle and passenger vehicle. The later will continue to outperform the former throughout the assessment period. This is mainly owing to the higher sales of passenger cars.
Key regions discussed in the report include Asia Pacific (APAC), North America, Europe, Latin America and the Middle East & Africa (MEA). APAC will continue to be the most attractive market for Global Automotive Exhaust system during the forecast period. China’s growing dominance in the global automotive manufacturing sector is somewhat linked with the market growth in the region. The automotive industry has witnesses tremendous growth over time in APAC. Growth of economy and rapid industrialization are among the factors that have propelled the industry in the region. Moreover, Asia is also home to a number of automotive companies making it a major destination in global map of automotive manufacturing. Europe is also viewed as a major market for Global Automotive Exhaust system. Presence of a vast automotive manufacturing sector puts Europe at an advantageous position. European OMEs are expected to remain focused on product viability and development of products that comply with European Commission’s emission regulations. EU’s efforts to set a global benchmark for emission levels is prompting OMEs to invest in development of environmentally sustainable products.
Some of the leading companies operating in the market include Tenneco Inc. (U.S.), Futaba Industrial Co. Ltd. (Japan), Sango Co. Ltd. (Japan), Friedrich Boysen GmbH & Co. Kg. (Germany), Sejong Industrial Co., Ltd. (South Korea), Faurecia SA (France), Benteler International AG. (Germany), Bosal International NV (Belgium), Eberspächer GmbH & Co. Kg. (Germany) and Yutaka Giken Co. Ltd. (Japan).
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