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Exhaust System Market

Exhaust System Market Analysis by Vehicle Type (Passenger Car, LCV, HCV), by Fuel Type (Diesel, Gasoline), by Sales Channel (OEM, Aftermarket) and by Region- 2022 to 2032

Analysis of Exhaust System market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Global Exhaust System Market Snapshot (2022-2032)

The exhaust system market is expected to garner a market value of US$ 57.5 Bn in 2022, anticipated to register a positive CAGR of 5.9% in the forecast period 2022-2032 and reach a value of US$ 102 Bn.

Report Attributes

Details

Expected Market Size in 2022

US$ 57.5 Bn

Projected Market Value in 2032

US$ 102 Bn

Growth Rate (2022-2032)

5.9% CAGR

Anticipated Market Value for the U.S in 2022

US$ 10 Bn

Expected Growth Rate of China (2022-2032)

7% CAGR

Market Share of the U.K in 2022

44%

Prominent Exhaust System Manufacturers

  • 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.

Growth in the selective catalytic reduction (SCR) is expected to be boosted by considerable improvements in exhaust systems, contributing to revive fuel efficiency by reducing NOx emissions.

With the growth of smart cities and the proliferation of artificial intelligence, its scope has broadened considerably in recent years. Due to the increasing focus on sustainability among consumers and automakers, the demand for efficient and high-performance cars will soar in near future.

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Exhaust System Revenue Analysis 2017-2021 vs. Future Market Outlook 2022-2032

Demand for exhaust systems expanded at a moderate CAGR of 4% in terms of value from 2017 to 2021. In response to rising air pollution levels and environmental concerns, various countries have implemented policies designed to reduce automobile exhaust emissions. OEMs are making their vehicles more environmentally friendly by offering models with advanced exhaust systems to reduce emissions in the near future.

With the outbreak of the COVID-19 pandemic, demand for automobiles decreased significantly. A temporary ban on several logistics and transportation services as well as a decline in raw materials have adversely affected the exhaust system market in the automobile industry. However, once the pandemic is over, prices will slowly be restored. However, in the coming months, this disequilibrium gradually dissipated, allowing the demand-supply gap to be filled. As the automotive industry grows, demand for automotive components is expected to surge.

In the near future, the global exhaust systems market is also expected to be influenced by the debut of next-generation vehicle infrastructure that will employ advanced and eco-friendly technologies. The steady growth of exhaust systems has raised the demand substantially, with the market projected to expand at a healthy CAGR of over 5.9% through 2032.

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Advanced After-Treatment Devices to Amplify the Latitudes of Exhaust Systems Industry

The burgeoning need for efficient after-treatment devices is foreseen to provide a substantial fillip to the demand for exhaust systems. Several OEMs are observed investing proactively in extensive R&D activities for providing better exhaust after-treatment devices.

With emission norms becoming stricter each year, there is an increasing demand for reducing exhaust gas emissions in various vehicles. With the incorporation of after-treatment devices, manufacturers of exhaust systems and OEMs can limit emissions of pollutants from vehicles while adhering to regulations.

The gasoline particulate filter stands out as one such noble after-treatment technology, which offers high-end efficiency in terms of noise reduction and exhaust emission from GDI engines.

This industry is expected to experience ongoing growth due to technological advancements in exhaust system technologies. These advancements include exhaust air after-treatment systems, exhaust gas recirculation (EGR) systems, and more.

For new and advanced after-treatment system designs, manufacturers have developed exhaust composition and duty cycle specifications based on testing and end-user requirements. These factors have contributed to the market growth of exhaust systems in the automobile industry.

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In What Ways does the Research and Development of Exhaust Systems contribute to the Development of the Market?

Researchers are capable of predicting, describing, and evaluating the dynamics of various system design proposals during the development of automobile exhaust system designs in the market to achieve low vibration levels.

A variety of technical projects and studies are being conducted by EPA to facilitate the future development of this initiative, including a demonstration program for advanced diesel engine technology and a heavy-duty gasoline program. As a result of these developments, it is apparent that automotive exhaust sales are expanding.

In addition, the development of nanotechnology as an alternative to traditional materials for catalytic converters is expected to fuel market growth. Due to the continued production of vehicles and increased ownership, scientists and engineers have been focused on further developing exhaust systems. However, further research has been focused on improving exhaust systems.

Country-wise Analysis

How Opportunistic is the Market for Exhaust Systems in the U.S?

The U.S. market for automotive exhaust systems is expected to reach US$ 10 Bn in 2022. As a result of stringent emission standards implementation, the US automotive exhaust systems market is poised to grow substantially in the coming years.

To increase the performance and efficiency of automobiles, several manufacturers are developing high-performance exhaust systems to help them increase their vehicle's efficiency and operate at maximum efficiency. As a result of the increasing penetration of electric vehicles, the exhaust system market growth will likely slowdown in the near future.

With an increasing number of automotive manufacturers in the market, the demand for exhaust systems has increased. Increased market demand for heavy-duty vehicles in these areas has led to an increase in the market demand for exhaust systems. All of these factors have propelled the market demand for exhaust systems.

What factors are promoting China's growth in the market for Exhaust Systems?

With the world's second-largest economy, China is expected to reach a projected market size of US$ 7 Bn by 2032, growing at a CAGR of 7%. Large supply chain and logistic systems, and their economy is among the fastest-growing in the world. By 2025, energy-efficient cars with fuel consumption below four liters per 100 kilometers will become the norm in coming years. Due to the aforementioned trends, many regional manufacturers are likely to emerge in the Chinese automotive exhaust systems industry.

China's economy has been growing at a fast pace, driven by the expansion of industrial production, imports & exports, consumer spending, and industry investment for more than two decades. For instance, TISCO, a Chinese stainless steel giant, has received the right to produce products for automotive exhaust systems certified by the Shanghai Department of Quality Control.

With TISCO products having passed the product certifications of world-class car manufacturers, including Mercedes-Benz, BMW, and Toyota, the market space has been expanded further. For stainless steel products for automotive exhaust systems, TISCO has the largest domestic market share. The company also ranks as one of the world's leading steel suppliers to the industry.

How Opportunistic is the Market expected to be across India?

The Indian market is expected to grow at a tremendous rate in the Asia Pacific. Increasing technological awareness, as well as the increasing buying power of customers in the region, can be partly attributed to this development. A CAGR of 6.5% is anticipated for the Indian market.

The booming economy in this region, combined with the availability of labor and resources at lower costs, is attracting a variety of industries to set up manufacturing outlets in this region. These factors are likely to boost the growth of the market in the region.

For example, a significant portion of the global market share is expected to go to Dinex by 2020 in regards to technologically-driven solutions to clean emissions from engines and vehicles powered by diesel and natural gas. Dinex's cleantech solutions are designed to treat pollution from diesel- and gas-powered engines in stationary power generators, construction equipment, agricultural machinery, trucks, buses, ships, and trains.

How are Emission Control Technologies potentially driving the UK Exhaust Systems Market?

In terms of volume, the UK is the 13th largest automobile manufacturer globally, and 4th in Europe, according to the Society of Motor Manufacturers and Traders. The region is likely to experience growth in this market due to the increased adoption of low-emission vehicles.

Due to the high level of emissions in the region, the government enacted stringent regulations governing the use of diesel-engine vehicles, thereby increasing the market demand for exhaust systems. Furthermore, the growing popularity of electric vehicles may negatively affect the demand for exhaust systems in the region and thus limit its growth.

Additionally, it has been proposed to implement a carbon tax to promote emission reductions in various industrial sectors. As a result, industrial sectors are likely to see a reduction in their allocations of free allowances under the UK's emissions trading system (ETS) to guard against cheap imports. A market share of 44% is projected for the market in Europe.

Exhaust System Market forecast analysis by Fact.MR

Category-wise Insights

What are the growth prospects for Passenger Vehicle Exhaust Systems?

Based on vehicle type exhaust systems is segmented into passenger car and HCV exhaust systems in the market. According to industry analysis, passenger cars will hold a market share of over 76% in 2022, and this position is expected to persist in the coming years.

A rising trend in consumer income coupled with increasing sales of passenger cars is stimulating demand for exhaust systems in the market. Several government regulations are being enforced in regards to the implementation of advanced exhaust systems, thereby making the growth prospects more promising in the future.

Innovation in Gasoline Exhaust Systems to continue to Drive Demand

The gasoline segment will account for nearly 83% of revenue in 2022 and is expected to remain the most dominant for the forecast period. The gasoline engines used in vehicles form the basis for the powertrain.

A rise in carbon emission across the globe and regulations on these emissions has propelled the use of gasoline exhaust system in the market. As technology advances, gasoline engine types are becoming more fuel-efficient with lower emissions than other petrol engines. Examples of these engines include GDI (gasoline direct injection) engines with improved emissions and lower fuel consumption.

Which Distribution Channel is likely to account for maximum Exhaust System Sales

By far, OEMs are predicted to be the most lucrative sales channel in the exhaust systems market. With massive transmutations undergone by the global auto industry, OEMs of exhaust systems will have to keep up with these technological advances.

With over 60% share of the market, the prosperity of OEMs in the exhaust systems market is likely to persist and is not anticipated to deteriorate anytime soon. To carry forward this prosperity, OEMs will have to keep up with the rapid technological advancements.

Competitive Landscape

This competition landscape of the exhaust systems market enunciates the competitive dynamics in terms of crucial parameters such as relative market foothold, product offerings, and differential strategies adopted by the key players operating in the exhaust systems market.

  • In May 2021, Futaba Industrial Co., Ltd expressed plans to participate in the 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 SDGs (Sustainable Development Goals).
  • In November 2021, Faurecia announced plans to acquire Hella, a German supplier specialized in the production of lighting and electronics automotive products in a €6.8bn deal. Together, the companies will become the 7th largest automotive supplier that will be well suited to take on new challenges such as autonomous driving, electric mobility, and cockpit of the future.

Exhaust System Market Report Scope

Attribute

Details

Historical Data Available For

2017-2021

Projected Forecast Period

2022-2032

Market Analysis

  • US$ Mn for Value
  • Units for Volume

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • Japan
  • APEJ
  • Middle East & Africa

Key Segments Covered

  • Vehicle Type
  • Fuel Type
  • Sales Channel
  • Region

Key Countries Profiled

  • U.S
  • Canada
  • Brazil
  • Mexico
  • Argentina
  • Germany
  • France
  • U.K
  • Spain
  • Italy
  • Nordics
  • China
  • India
  • Malaysia
  • Thailand
  • Singapore
  • Australia
  • GCC
  • South Africa
  • Nigeria
  • Israel

Key Segments Covered in the Exhaust System Market Report

  • By Vehicle Type

    • Passenger Car Exhaust System
    • LCV Exhaust System
    • HCV Exhaust System
  • By Fuel Type

    • Diesel Exhaust System
    • Gasoline Exhaust System
  • By Sales Channel

    • OEM Exhaust System
    • Aftermarket Exhaust System

- Premium Report Details -

Exhaust System Market
  • FACT35MR
  • Feb-2022
  • Automotive
  • 170 Pages
  • 202 Tables
  • 60 Figures

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As of 2022, the global exhaust systems market size is expected to be worth US$ 57.5 Bn

From 2017-2021, exhaust systems sales flourished at a CAGR of 4%, according to Fact.MR

The exhaust system market is expected to reach nearly US$ 102 Bn by 2032

According to Fact.MR, the market for exhaust systems is expected to surge at a CAGR of 5.9% from 2022-2032

In the U.S, exhaust systems demand is anticipated to be valued at US$ 10 Bn as of 2022

As per Fact.MR, the market for exhaust systems in China is expected to flourish at a CAGR of 7% until 2032

In India, exhaust system sales are expected to flourish at a CAGR of 6.5% from 2022-2032

The U.K is anticipated to contribute 44% revenue in the global market for exhaust systems

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