The global exhaust system market was valued at around USD 79,041.7 Million in 2019 and is projected to reach USD 93,815.5 Million by 2027, expanding at a CAGR of 4.2% during the forecast period. An exhaust system is considered as one of the integral components of an automobile. This system consists of extensive piping, which is directly employed in the interior of the engine to control the combustion of a vehicle. Each pipe of the exhaust system is responsible for moving the exhaust gas toward the back of the vehicle. The main function of the exhaust system is to collect the exhaust gases from the cylinder, reduce the noise, eliminate harmful substances, and purify gases from the exhaust.
The exhaust system market is driven by factors such as increase in the demand for safety comfort, and ride quality. The growth of the market is attributed to the strict regulations imposed by governments on automakers and ventilation system manufactures. Conversely, rising demand of battery electric vehicles and high cost of lightweight exhaust systems are expected to restrain the market. Increase in R&D activities by the OEMs to provide superior exhaust systems are boost the market.
By Vehicle Types
Definitions
Passenger Car
Passenger cars are motor vehicles that have four wheels and comprise not more than eight seats, in addition of the driver’s seats. A passenger car is one of the most common vehicles for personal transport conveyance in developed countries, while their number is increasing in developing economies due to the rise in capita income. The demand for passenger cars is growing in various countries due to the emergence of vehicle financing. Moreover, people are buying passenger cars, as it is a sign of social status in most developing countries.
Light Commercial Vehicle
Light commercial vehicles have at least four-wheel and are used for the transportation of goods and/or passengers. According to the Organization of the Motor Vehicle Manufacturer (OICA), light commercial vehicles are also known as special vehicles. A light commercial vehicle can carry a mass between 3.5 and 7 tons. North America produces maximum number of light commercial vehicles. Light commercial vehicles have many small systems such as chassis systems, steering systems, exhaust systems, and interior & exterior systems.
Heavy Commercial Vehicle
According to the OICA, the heavy commercial vehicle can carry weight of more than 7 tons. Heavy commercial vehicles are used for the transportation of goods and/or people. These vehicles are specially designed to carry more than 10 passengers and heavy loads that cannot be transported by ordinary load-carrying vehicles. Heavy commercial vehicles are embedded with many systems such as suspension system, exhaust system, chassis system, exterior system, and interior system. The demand for heavy commercial vehicles is growing in Asia Pacific, due to the improvements in road infrastructure and rise of logistics businesses.
By Sales Channels
Definitions
Original Equipment Manufacturers (OEMs)
An original equipment manufacturer (OEM) manufactures and sells goods or components to consumers or other companies. An OEM could make a complete device or just a certain component, which can be configured by the reseller. Most of the OEMs work closely with the sellers to provide the exact type of finished products, which are needed by the buyers.
By After-treatment Devices
Based on after-treatment devices the market is categorized as diesel oxidation catalyst (DOC), diesel particulate filter (DPF), lean NOx trap (NNT), selective catalyst reduction (SCR), and gasoline particulate filter (GPF). The gasoline particle filter segment held a significant share of the market in 2019 due to the presence of a larger number of gasoline vehicles. Moreover, the selective catalyst reduction (SCR) segment is projected to expand at a significant CAGR during the forecast period, as it reduces nitrogen oxide emission by 90% as opposed to lean NOx trap. This, in turn, increases their preference in diesel vehicles in various countries. Selective catalyst reductions are mostly installed in vehicles in Europe and North America owing to the implementation of rigid emission norms such as Euro 6 and Tier 3, respectively.
Definition
Diesel Oxidation Catalyst (DOC)
Diesel Oxidation Catalyst (DOC) is considered a catalytic converter, which is designed specifically for diesel engines to reduce hydrocarbons (HC), carbon monoxide (CO), and particulate matter (PM) emission. The main purpose of DOC is to break down the harmful pollutants from the diesel engine in the exhaust system and convert them into less harmful components. Diesel oxidation catalysts are used in almost all vehicles that use diesel engines such as heavy-duty trucks, urban transit buses, and passenger cars.
Selective Catalyst Reduction (SCR)
Selective catalyst reduction (SCR) is one of the advanced active emission control technology systems, which injects a liquid-reductant agent into the exhaust stream of the diesel engine. SCR after-treatment devices that help reduce nitrogen oxide (NOX). Recently, the demand for SCR is expected to grow due to favorable government policies across the globe.
Gasoline Particulate Filter (GPF)
Gasoline particulate filters (GPFs) are used for removing particulate matter from exhaust systems of the gasoline direct injection (GDI) engines. These after treatment devices are commonly are used to reduce carbon emission in the environment, as various automobile manufacturers are concentrating on developing vehicles which generates less amount of carbon emission. Moreover, the demand for GDI vehicles is growing due to regulations imposed by various governments to reduce CO2.
In terms of regions, the exhaust system market is classified as North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. Asia Pacific accounts for a significant share of the market, followed by Europe. The market in Asia Pacific is projected to expand at a significant CAGR during the forecast period. The growth of the market in Asia Pacific is attributed to the substantial rise in the use of automobiles. Moreover, technical advancement in exhaust systems and high automobile production are expected to boost the demand for exhaust systems. The growth of exhaust system market in Europe is attributed to the presence of established players in the region that are engaged in the development and introduction of novel products.
Some frequently asked quetions about this report!
Major manufactures include, Faurecia, Tenneco Inc., Eberspächer Climate Control Systems GmbH, Sango, Friedrich Boysen GmbH & Co. KG, and FUTABA INDUSTRIAL CO., LTD.
The base year considered for the global exhaust system market report is 2019. The complete analysis period is 2017 to 2027, wherein, 2017 & 2018 are the historic years and the forecast is provided from 2020 to 2027.
The market is expected to witness downfall owing to the negative impact of COVID-19 pandemic on the exhaust system market.
Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.
Diesel oxidation catalyst (DOC), diesel particulate filter (DPF), lean NOX Trap (NNT), selective catalyst reduction (SCR), gasoline particulate filter (GPF) are the key application that are driving the Global Exhaust System Market.
The market is driven by the increase in the demand for safety comfort, & ride quality and due to the strict regulations imposed by governments on the automakers and ventilation systems manufactures.
In addition to market size (in USD Million), volume (thousand units), and company market share (in % for base year 2019), other data such macro-economic factors, COVID-19 Impact, and emission regulation is available in final report.
According to this Growth Market Reports, global exhaust system market is likely to register a CAGR of 4.2% during forecast period 2020-2027, with an anticipated valuation of USD 93,815.5million by the end of the 2027.
Yes, the report covers vehicle types of exhaust system such as passenger car light commercial vehicle, and heavy commercial vehicle.
Additional company profiles can be provided on request.
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