The automotive exhaust systems market is projected to cross US$ 112,652.7 million in 2023 and is estimated to attain a valuation of US$ 203,657.0 million by 2033. The automotive exhaust systems market share is expected to thrive at a CAGR of 6.1% from 2023 to 2033.
The automotive exhaust systems market is a crucial segment within the automotive industry, responsible for managing emissions and optimizing engine performance. Here’s an overview of key aspects of this market:
- Definition and Functionality: Automotive exhaust systems are components that channel exhaust gases from the engine cylinders to the atmosphere, while also reducing harmful emissions and minimizing noise levels. These systems typically include exhaust manifolds, catalytic converters, mufflers, resonators, and tailpipes.
- Market Segmentation: The automotive exhaust systems market can be segmented based on vehicle type (passenger cars, light commercial vehicles, heavy-duty vehicles), component type (manifolds, catalytic converters, mufflers, pipes), material type (stainless steel, mild steel, aluminum, titanium), and geography (regions or countries with varying emissions regulations and vehicle preferences).
- Key Players: Major players in the automotive exhaust systems market include companies like Tenneco Inc. (including brands like Walker, Monroe, and DRiV), Faurecia SA, Eberspächer Group, Magna International Inc., and Friedrich Boysen GmbH & Co. KG. These companies specialize in the design, manufacturing, and distribution of exhaust systems for automotive OEMs globally.
- Technological Trends: Technological advancements in automotive exhaust systems focus on improving emissions reduction, fuel efficiency, noise reduction, and durability. Key trends include the integration of advanced catalytic converter technologies for stricter emissions compliance, lightweight materials and designs for improved fuel economy, and active noise cancellation systems for quieter vehicle operation.
- Market Drivers: Factors driving the automotive exhaust systems market include tightening emissions regulations worldwide, consumer demand for cleaner and more fuel-efficient vehicles, advancements in exhaust system technology enabling higher performance and reduced weight, and the shift towards electric and hybrid vehicles driving innovation in exhaust system integration and optimization.
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Key Takeaways from Automotive Exhaust Systems Market Report:
- In 2018, the global market size stood at US$ 87,016.9 million.
- The market expanded at a CAGR of 5.3% from 2018 to 2022.
- In 2022, the global market size stood at US$ 106,983.6 million.
- The United States captured 17.8% of global market shares in 2022.
- India captured 6.0% of global market shares in 2022.
- China captured 6.3% of global market shares in 2022.
- The United Kingdom captured 5.8% of global market shares in 2022.
- The gasoline segment under engine type captured 78.3% of global market shares in 2022.
- The passenger cars segment acquired 72.7% of global market shares in 2022.
Recent Developments Observed by FMI:
- Akrapovi introduced its new Slip-On Line (Titanium) exhaust in March 2023, featuring a dramatic design that was expressly made for Suzuki’s newest adventure bike, the Suzuki V-Strom 800DE.
- Akrapovi extended their ever-expanding collection of Yamaha motorcycle accessories by releasing the Racing collection (Titanium) for the 2022 Yamaha TMAX and the Slip-On Line (Titanium) for the 2022 Yamaha MT-10.
Key Players in the Automotive Exhaust Systems Market:
- Faurecia S.A.
- Tenneco Inc.
- Eberspächer Group
- Friedrich Boysen GmbH & Co. KG
- Benteler International AG
- Yutaka Giken Co. Ltd.
- Bosal International N.V.
- Harbin Airui Automotive Exhaust Systems Co. Ltd.
- Sejong Industrial Co. Ltd.
Automotive Exhaust Systems Market by Segmentation
By Product Type:
- Exhaust Manifold
- Muffler
- Catalytic Converter
- Oxygen Sensor
- Exhaust Pipes
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By Vehicle Type:
- Passenger Car
- Light Commercial Vehicle
- Heavy Commercial Vehicle
By Engine Type:
- Gasoline
- Diesel
By Sales Channel:
- Original Equipment Manufacturer (OEM)
- Aftermarket
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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