Yahoo Finance Exhaust System Market Report Explores Key Regions, Top Manufacturers, and End User Applicants from 2022 to 2029
Lightweight emission systems can increase opportunities in the exhaust system market
Luton, Bedfordshire, United Kingdom, Sept. 23, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Exhaust System Market.
The global exhaust system market is expected to grow at a 2.60% CAGR from 2020 to 2029. It is expected to reach above USD 48.21 billion by 2029 from USD 38.85 billion in 2020.
Exhaust System Market by Component (Exhaust Manifold, Muffler, Catalytic Converter, Oxygen Sensor, Exhaust Pipes), Vehicle Type (Passenger Car, Commercial Vehicles), Fuel Type (Gasoline, Diesel) Region (North America, Asia Pacific, Europe, South America, Middle East & Africa), Global Trends and Forecast from 2022 to 2029
The exhaust system also includes numerous after-treatment systems, as well as the catalytic converter, which is used to eliminate toxic ingredients from the exhaust gas such as carbon monoxide, carbon dioxide, nitrogen oxides, and particulate matter. Automotive Diesel engines include a diesel particulate filter a diesel oxidation catalyst, a low NOx trap, and a selective catalytic converter; gasoline engines have a gasoline particulate filter.
In the Asia Pacific due to rising vehicle manufacturing, China is the largest market for exhaust systems. Since 2019, the average adoption rate of DOC (Diesel Oxidation Catalysts) and DPF (Diesel Particulate Filters) for all vehicle types has been 100% in accordance with China V emission standards. Japan has its own emission standards, which are higher than other nations in the region. Since 2018, it is projected that all vehicle types have had a 100 percent adoption rate of DOCs and DPFs. SCR adoption in passenger vehicles and LCVs is predicted to reach 100% by 2025 and in buses and trucks by 2021.
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Recent developments
In March 2021, Tenneco’s Clean Air business department has joined forces with Eaton’s Vehicle Group to develop an integrated exhaust thermal management system that will allow commercial truck and light vehicle manufacturers to fulfill forthcoming emissions rules.
In February 2019, Eberspächer and Sharda Motor Industries Ltd. signed an agreement for a 50:50 joint venture. The new joint venture will develop; produce and sell exhaust after-treatment systems for Indian commercial vehicle manufacturers.
Market Dynamics
Lightweight emission systems can increase opportunities in the exhaust system market.
The need for vehicle weight reduction is always increasing in order to comply with rigorous pollution and fuel efficiency rules and avoid costly penalties imposed by government authorities. The reduction in vehicle weight significantly reduces fuel consumption and CO2 emissions, as a lightweight car consumes less fuel as it needs to overcome less inertia, further reducing the power required to propel the vehicle. According to industry experts, reducing vehicle weight by 10% can enhance mileage by 6% to 8% while also increasing fuel efficiency. To achieve a reduction in overall vehicle weight, automotive OEMs are focusing on numerous elements such as innovative and lightweight materials, aerodynamic design, and drive train (engine/transmission) efficiency. In the manufacturing of exhaust systems and their components, materials such as cast iron, stainless steel, mild steel/carbon steel, and others are used. Several automobile OEMs exhaust system manufacturers, and other firms, are attempting to minimize the weight of exhaust systems and their components.
Segmentation Analysis
The sensors segment is expected to lead the market for exhaust system components.
PM sensors are installed only in diesel vehicles equipped with a DPF. In both gasoline and diesel engines, temperature, NOx, and oxygen sensors are utilized. In an exhaust system, a single temperature unit is utilized in gasoline, two units in diesel, and two oxygen sensors are employed for each catalytic converter present in the exhaust system for all vehicle types. Global emission reduction objectives are predicted to boost the usage of exhaust sensors in vehicle exhaust systems to capture, monitor, and analyses emission gases and their amount, increasing sensor demand throughout the forecast period.
Product Portfolio: The Company has a product portfolio of Exhaust System Market that includes:
Exhaust System Market: Growing competition among key players, increasing horizontal and vertical expansion is further expected to fuel the growth of Exhaust System Market.
Key players operating the global Exhaust System market includes Faurecia, Friedrich Boysen, BENTELER International, Tenneco Inc., Continental AG, Sejong Industrial Co., Ltd., BOSAL, Yutaka Giken Company Limited, Eberspaecher, BENTELER International.
Exhaust System Market Scope: Discount on report
Exhaust System Market | |||
Report Coverage of Exhaust System Market | Details | ||
Base Year: | 2021 | Forecast Period:2017-2021 | 2022-2029 |
Historical Data: | 2020 | Market Size in 2020: | US$ 38.85 Billion |
Forecast Period 2022 to 2029 CAGR: | 2.60% | Market Size in 2029: | US$ 48.21 Billion |
Key Market Segments: | By Component |
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by Vehicle Type |
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Largest Regional market | Asia Pacific | 35% | |
Exhaust System Market Regional Analysis
Asia Pacific is expected to hold the largest share of the global Exhaust System Market.
Asia Pacific shares 35% of the total market. The China VI emission rules will drive the expansion of different after-treatment devices over the predicted period. Japan is Asia Pacific’s second-largest market for exhaust systems. Japan has its own emission standards, which are higher than other nations in the region.
Reasons to Buy Exhaust System Market Report
The report enables you to -
- Formulate significant competitor information, analysis, and insights to improve R&D strategies
- Identify emerging players with potentially strong product portfolio and create effective counter strategies to gain competitive advantage
- Identify and understand important and diverse types of Exhaust System under development
- Develop market-entry and market expansion strategies
- Plan mergers and acquisitions effectively by identifying major players with the most promising pipeline
- In-depth analysis of the product’s current stage of development, territory and estimated launch date
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