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Written by James » Updated on: July 17th, 2024
IMARC Group has recently released a new research study titled “Automotive Exhaust System Market Report by Component Type (Manifold, Downpipe, Catalyst Converter, Muffler, Tailpipe, and Others), After-Treatment Device (Diesel Oxidation Catalyst System, Diesel Particulate Filter, Selective Catalytic Reduction System, Exhaust Gas Recirculation System, Gasoline Particulate Filter, and Others), Vehicle Type (Passenger Car, Commercial Vehicle, and Others), Fuel Type (Diesel, Gasoline), Distribution Channel (OEM, Aftermarket), and Region 2024-2032: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
The global automotive exhaust system market size reached US$ 44.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 70.2 Billion by 2032, exhibiting a growth rate (CAGR) of 5.23% during 2024-2032.
Global Automotive Exhaust System Market Trends:
The increasing demand for performance exhaust systems in the aftermarket segment as enthusiasts seek high-performance exhaust systems that enhance vehicle aesthetics with customized sounds and looks and improve engine efficiency and power output is fostering the market growth. Additionally, the surge in the use of lightweight materials such as titanium and advanced composites, which help in reducing the overall weight of the vehicle, thereby enhancing fuel efficiency and performance, is catalyzing the market growth. Furthermore, the development of integrated exhaust and thermal management systems, which optimize the vehicle's overall energy management, is positively influencing the market growth.
Factors Affecting the Growth of the Automotive Exhaust System Industry:
Growing Emphasis on Emission Regulations: The imposition of various regulations across the globe is acting as a growth-inducing factor. Moreover, the enforcement of stricter emission norms by governments and environmental agencies to curb air pollution and mitigate the effects of climate change is positively impacting the market growth. In line with this, the adoption of advanced exhaust systems by automotive manufacturers that can effectively reduce harmful emissions, such as nitrogen oxides (NOx), carbon monoxide (CO), and particulate matter (PM) is fueling the market growth. Along with this, the introduction of technologies like selective catalytic reduction (SCR), diesel particulate filters (DPF), and exhaust gas recirculation (EGR) systems in modern vehicles to comply with these regulations is favoring the market growth.
Rising Adoption of Electric and Hybrid Vehicles: The ongoing shift in the automotive industry towards electric and hybrid vehicles (EVs and HEVs) is another significant factor boosting the market growth. Hybrid vehicles require traditional exhaust systems with more advanced technology to manage emissions from their internal combustion engines (ICE). In line with this, the increasing popularity of hybrid vehicles, necessitating the development of specialized exhaust systems that are designed to meet unique requirements, such as lower emissions during engine start-stop cycles and optimized performance for varied driving conditions, is contributing to the market growth. Moreover, rapid advancements in materials and design, leading to more lightweight and efficient exhaust systems that complement the performance and fuel efficiency of hybrid vehicles, are enhancing the market growth.
Rapid Technological Advancements and Innovations: The increasing adoption of advanced materials like stainless steel and ceramics that offer superior durability, corrosion resistance, and heat management properties is favoring the market growth. Moreover, rapid innovations such as active exhaust systems, which can dynamically adjust the exhaust flow and sound characteristics based on driving conditions, are catalyzing the market growth. Additionally, the burgeoning integration of sensors and electronic controls in exhaust systems that enhance their efficiency and performance is fueling the market growth. These smart exhaust systems can monitor and adjust parameters in real time to optimize emissions and fuel consumption.
Key Companies:
Automotive Exhaust System Market Report Segmentation:
By Component Type:
Manifold represented the largest segment as it is a crucial part of the exhaust system that directs exhaust gases from the engine cylinders to the exhaust pipe.
By After-Treatment Device:
Gasoline particulate filter accounted for the largest market share due to the increasing regulations aimed at reducing particulate emissions from gasoline engines.
By Vehicle Type:
Passenger car represented the largest segment owing to the high production and sales volume of passenger vehicles across the globe.
By Fuel Type:
Gasoline constituted the largest segment as gasoline-powered vehicles remain more prevalent than diesel or alternative fuel vehicles in many regions.
By Distribution Channel:
Based on the distribution channel, the market has been divided into OEM and aftermarket.
Regional Insights:
Asia Pacific’s dominance in the automotive exhaust system market is attributed to the high automotive production and sales.
Key Highlights of the Report:
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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IMARC Group
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