The market for exhaust systems is estimated to reach US$ 57.5 billion in 2022 and, between 2022 and 2032, to grow at a positive CAGR of 5.9% to reach US$ 102 billion. Significant advancements in exhaust systems are predicted to increase the growth of selective catalytic reduction (SCR), which will help to enhance fuel efficiency by lowering NOx emissions.
Its reach has significantly expanded in recent years with the emergence of smart cities and artificial intelligence. The demand for efficient and high-performance cars will skyrocket in the near future due to the growing emphasis on sustainability among consumers and automakers.
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Key Segments Covered in the Exhaust System Market Report
- By Vehicle Type
- Passenger Car Exhaust System
- LCV Exhaust System
- HCV Exhaust System
- By Fuel Type
- Diesel Exhaust System
- Gasoline Exhaust System
- By Sales Channel
- OEM Exhaust System
- Aftermarket Exhaust System
Key Takeaways from the Market Study
- By vehicle type, passenger cars to account for over 3/4th of the global exhaust system revenue
- Gasoline powered exhaust systems to comprise 83% of the total market revenue
- With over 60% of the market, OEMs are expected to continue to prosper in the exhaust systems market.
- U.S to generate attractive growth prospects, expected to be valued at US$ 10 Bn by 2022
- China to experience highest market growth, expected to register a CAGR of 7%
- India to experience a CAGR of 6.5% with respect to exhaust systems sales through 2032
- U.K to account for over 2 out of 5 exhaust system sales in 2022 and beyond
Prominent Exhaust System Manufacturers
- Futaba Industrial Co. Ltd.
- Faurecia SE
- Tenneco Automotive Pvt. Ltd.
- Sejong Industrial Co. Ltd.
- Friedrich Boysen GmbH & Co. KG
- Benteler International AG
- Yutaka Giken Co. Ltd.
- Futaba Industrial Co., Ltd announced in May 2021 that it would take part in the Automotive Engineering Exhibition 2021 Online. In support of SDGs, the company intends to display exhaust and vehicle components that boost fuel economy, decrease weight, and minimize emissions (Sustainable Development Goals).
- In November 2021, Faurecia announced plans to pay €6.8 billion to acquire Hella, a German supplier with a focus on lighting and electronics for the automobile industry. When the businesses come together, they will rank as the seventh-largest automotive supplier and be well-equipped to handle emerging issues like autonomous driving, electric mobility, and the cockpit of the future.
How Opportunistic is the Market for Exhaust Systems in the U.S?
In 2022, it is anticipated that the U.S. market for automobile exhaust systems will amount to $10 billion. The US automobile exhaust systems market is anticipated to expand significantly over the next few years as a result of the implementation of strict emission rules. A number of automakers are creating high-performance exhaust systems to assist their vehicles run as efficiently as possible in order to improve performance and efficiency. The market for exhaust systems will probably experience a short-term downturn due to the rising popularity of electric vehicles.
The demand for exhaust systems has grown since there are more automotive manufacturers on the market. In these regions, there is a higher market demand for heavy-duty vehicles, which has increased the market demand for exhaust.
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