Over 4 out of 5 Exhaust Systems to be Gasoline Powered, Forecasts Fact.MR
Published : 11 Feb 2022 Industry: Automotive
Fact.MR published a new report on the exhaust system market for the forecast period of 2017 to 2022. The report opines that the global exhaust systems market is likely to touch a valuation of U$ 57.5 Bn by 2022, and is further expected to reach US$ 102 Bn, surging at a CAGR of 5.9% from 2022 to 2032.
From 2017 to 2021, sales expanded at a CAGR of 4%. Almost all modern vehicles are equipped with exhaust systems as a crucial component of their overall infrastructure. However, the process of remolding auto technologies in an effort to reduce carbon dioxide emissions and environmental degradation will likely affect the applications of those technologies within the automotive industry.
The growth of the exhaust systems market is highly influenced by macroeconomic and microeconomic factors. In the near future, new regulatory guidelines pertaining to emission controls are expected to change the industry landscape. Advances in material science technologies, the boom in fuel-efficient automobiles, and a deliberate focus on research and development are some of the key trends driving the dynamics of the exhaust systems market.
Key Takeaways from the Market Study
- By vehicle type, passenger cars to account for over 3/4th of the global exhaust system revenue
- Gasoline powered exhaust systems to comprise 83% of the total market revenue
- With over 60% of the market, OEMs are expected to continue to prosper in the exhaust systems market.
- U.S to generate attractive growth prospects, expected to be valued at US$ 10 Bn by 2022
- China to experience highest market growth, expected to register a CAGR of 7%
- India to experience a CAGR of 6.5% with respect to exhaust systems sales through 2032
- U.K to account for over 2 out of 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 curb emissions. As a result, numerous innovations and new products are expected to be launched, resulting in a substantial expansion of revenue pools, “says a Fact.MR analyst.
Strategic collaborations enable manufacturers to increase production and meet consumer demand which will increase revenue and market share. New products and technologies will enable end-users to benefit in various industries.
- In January 2022, SPL Control Inc. has purchased the assets of ENtec Solutions, which include the brand, intellectual property and several key employees. The acquisition was completed in November 2021. This acquisition enhances SPL Control's expertise and experience, expands its design options to meet specific application requirements, and improves the quality of our supply chain. Hence, SPL continues to provide the most sophisticated gas turbine silencing solutions, built upon our long track record of proven installations.
- In June 2021, Highline Warren, a leading manufacturer and distributor of auto maintenance products, announced the acquisition of Sapp Bros. diesel exhaust fluid (DEF) division. As a result of this acquisition, Highline Warren will be able leverage Sapp's capabilities and relationships in order to better serve their customers throughout their unique national liquids distribution and manufacturing platform.
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global exhaust systems market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2032.
The study divulges essential insights on the basis of vehicle type (passenger car, HCV and LCV), fuel type (diesel and gasoline), and sales channel (OEM and aftermarket) across six major regions (North America, Latin America, Europe, Japan, APEJ and Middle East & Africa).
About the Automotive Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned automobile team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analyzed the automotive industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
For more information, refer to our market research report or contact the PR author.
Consultant - Industrial Goods and Automotive