Segments - Global Exhaust System Market by Vehicle Types (Passenger Car, Light Commercial Vehicles, and Heavy Commercial Vehicle), Fuel Types (Gasoline and Diesel), After-treatment Devices (Diesel Oxidation Catalyst (DOC), Diesel Particulate Filter (DPF), Lean NOX Trap (NNT), Selective Catalyst Reduction (SCR), and Gasoline Particulate Filter (GPF)), Channel Types (OEM and Aftermarket), and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 - 2031
The global exhaust system market size was valued at USD 89.38 Billion in 2022 and is projected to reach USD 129.43 Billion by 2031, expanding at a CAGR of 4.2% during the forecast period 2023 - 2031. 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.
The report on the global exhaust system market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes | Details |
Report Title | Exhaust System Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year | 2022 |
Historic Data | 2016 – 2021 |
Forecast Period | 2023–2031 |
Segmentation | By Vehicle Types (Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle), By Fuel Types (Gasoline and Diesel), By After-Treatment Devices (Diesel Oxidation Catalyst (DOC), Diesel Particulate Filter (DPF), Lean NOX Trap (NNT), Selective Catalyst Reduction (SCR), Gasoline Particulate Filter (GPF)), and By Channel Types (OEM and Aftermarket) |
Regional Scope | Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
Report Coverage | Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast |
Key Players Covered in the Report | BENTELER International, BOSAL, ContiTech AG, Dinex A/S, Eberspächer Climate Control Systems GmbH, Faurecia, Friedrich Boysen GmbH & Co. KG, FUTABA INDUSTRIAL CO.,LTD., KATCON GLOBAL, MagnaFlow, Sango, Sejong Industrial Co.,Ltd., Sharda Motor Industries Ltd., Tenneco Inc., and Yutaka Giken Company Limited. |
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.
Definitions
Passenger Car
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.
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.