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Automotive Exhaust Systems Market Size Worth $68.45 Billion By 2028: Grand View Research, Inc.

SAN FRANCISCO, Oct. 18, 2021 /PRNewswire/  -- The global   automotive exhaust systems market size is expected to reach USD 68.

SAN FRANCISCO, Oct. 18, 2021 /PRNewswire/  --The global   automotive exhaust systems market size is expected to reach USD 68.45 billion by 2028, according to a new report by Grand View Research, Inc.The market is expected  to expand at a CAGR of 6.2% from 2021 to 2028.Stringent government regulations associated with vehicle emissions coupled with the increasing penetration of after-treatment devices are anticipated to drive the demand for automotive exhaust systems. Moreover, the increasing sales of passenger cars and commercial vehicles along with the growing demand for lightweight emission systems are expected to create significant opportunities for players operating across the value chain of the market.

Key Insights & Findings:

  • In terms of component, the muffler segment is estimated to register the highest CAGR of over7% from 2021 to 2028 owing to the increasing demand for dual-exhaust muffler systems in mid-sized and luxury vehicles
  • In terms of fuel type, the gasoline segment emerged as the largest segment in 2020 and is anticipated to retain its dominance over the forecast period
  • In terms of vehicle type, the commercial vehicles segment is projected to expand at the highest CAGR of around 7.5% over the forecast period due to increasing demand for commercial vehicles across the transportation and logistics sectors
  • Asia Pacific emerged as the largest regional market for automotive exhaust systems in 2020 and is anticipated to retain its dominance over the forecast period

Read 90 page market research report, " Automotive Exhaust Systems Market Size, Share & Trends Analysis Report By Component, By Fuel Type (Gasoline, Diesel), By Vehicle Type (Passenger Car, Commercial Vehicles), By Region, And Segment Forecasts, 2021 - 2028 ", by Grand View Research

Automotive OEMs are working on several aspects, such as new and lightweight materials, drivetrain (engine/transmission) efficiency, and aerodynamic design, to reduce the vehicular weight. Conventional exhaust systems and their components are manufactured using materials such as stainless steel, cast iron, and mild steel/carbon steel. However, several automotive OEMs, exhaust system manufacturers, and other companies are working to provide lightweight products made from composite metals with high-temperature resistance. For instance, Tenneco Inc. offers lightweight compact systems and lightweight after-treatment and dosing systems to improve the fuel economy and thermal management of the exhaust system and overall vehicle.

The outbreak of the COVID-19 pandemic hampered the overall business scenario in 2020, and the economy is expected to continue experiencing its aftermath over the next few years. Supply chains were disrupted and production was suspended temporarily at several production facilities because of the lockdowns and restrictions imposed in various parts of the world. Subsequently, shipments got delayed and production volumes plummeted, thereby affecting the overall automotive production. As a result of the pandemic, several companies and exhaust system manufacturers confronted a year-on-year decline in unit volumes and revenues. For instance, Eberspacher, a prominent market player in the exhaust system market, witnessed a decline in the Exhaust Technology business segment revenue. The company's exhaust technology sales decreased by 0.4% year-over-year to USD 6,033.1 million in 2020 compared to USD 6,099.46 million in 2019.

In 2020, Asia Pacific captured around 60% of the automotive exhaust systems demand and is estimated to register a CAGR of around 7.0% over the forecast period. This share is attributed to the increasing production and sales of passenger cars and commercial vehicles in emerging economies such as India and China. China has been the largest automotive manufacturer in the world since 2008. The country's automotive production annual volumes are greater than the volumes of the European Union (EU). India is the fifth-largest automotive manufacturing country in the world. The Indian market is estimated to expand at the highest CAGR over the forecast period as the Indian government is taking several initiatives to develop the automotive sector in the country. The Automotive Mission Plan 2016-2026 is a joint initiative by the Indian Automotive Manufacturers and the government to plan a roadmap for developing the automotive sector in the country.

Grand View Research has segmented the global automotive exhaust systems market based on component, fuel type, vehicle type, and region:

  • Automotive Exhaust Systems Component Outlook (Value, USD Million, 2016 - 2028)
    • Exhaust Manifold
    • Muffler
    • Catalytic Converter
    • Oxygen Sensor
    • Exhaust Pipes
  • Automotive Exhaust Systems Fuel Type Outlook (Value, USD Million, 2016 - 2028)
    • Gasoline
    • Diesel
  • Automotive Exhaust Systems Vehicle Type Outlook (Value, USD Million, 2016 - 2028)
    • Passenger Car
    • Commercial Vehicles
  • Automotive Exhaust Systems Regional Outlook (Value, USD Million, 2016 - 2028)
    • North America
      • U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
      • Rest of Europe
    • Asia Pacific
      • Greater China
      • Japan
      • India
      • Rest of Asia Pacific
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America
    • Middle East & Africa (MEA)

List of Key Players in the Automotive Exhaust Systems Market

  • BENTELER International
  • Bosal
  • Continental AG
  • Eberspacher
  • Faurecia
  • FUTABA INDUSTRIAL CO., LTD.
  • Friedrich Boysen
  • Sejong Industrial Co., Ltd.
  • Tenneco Inc.
  • Yutaka Giken Company Limited

Check out more studies related to automotive exhaust systems, conducted by Grand View Research:

  • Cold-end Exhaust System Aftermarket - The cold-end exhaust system aftermarket size was valued at USD 4.03 billion in 2015 and is presumed to gain traction over the forecast period. The cold-end exhaust system aftermarket is majorly driven by stringent government regulations and emission norms.
  • Automotive Catalytic Converter Market - The global automotive catalytic converter market size was valued at USD 111.00 billion in 2014. Technological advancements and increasing automobile production across emerging economies such as China and India are expected to drive the industry growth over the forecast period.

Browse through Grand View Research's coverage of the Global Automotive & Transportation Industry

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact: Sherry JamesCorporate Sales Specialist, USAGrand View Research, Inc.Phone: 1-415-349-0058Toll Free: 1-888-202-9519Email: sales@grandviewresearch.comWeb: https://www.grandviewresearch.comFollow Us: LinkedIn | Twitter 

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SOURCE Grand View Research, Inc.