The exhaust system market is anticipated to reach a market value of US$ 57.5 billion in 2022 and is projected to grow at a positive CAGR of 5.9% between 2022 and 2032 to reach US$ 102 billion. Significant exhaust system advancements that improve fuel efficiency by lowering NOx emissions are predicted to boost the growth of selective catalytic reduction (SCR). Its scope has significantly expanded in recent years as a result of the development of smart cities and the widespread use of artificial intelligence. The demand for efficient and high-performance vehicles will skyrocket in the near future as a result of consumers’ and automakers’ growing attention to sustainability.
The global market for goods and services involved in the development, production, and distribution of exhaust systems for a range of vehicles, including cars, trucks, buses, and motorcycles, is referred to as the exhaust system market. Numerous factors influence the market, including rising consumer demand for better fuel economy and performance from vehicles as well as stricter emission regulations. Catalytic converters, mufflers, exhaust manifolds, tail pipes, and other product types are a few examples of the various product categories into which the market can be divided. Due to their widespread use in cars to lower emissions, catalytic converters have the largest market share among these.
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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.
- 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
- K to account for over 2 out of 5 exhaust system sales in 2022 and beyond
Strategic collaborations enable manufacturers to increase production and meet consumer demand which will increase revenue and market share. New products and technologies will enable end-users to benefit in various industries.
- In January 2022, SPL Control Inc. has purchased the assets of ENtec Solutions, which include the brand, intellectual property and several key employees. The acquisition was completed in November 2021. This acquisition enhances SPL Control’s expertise and experience, expands its design options to meet specific application requirements, and improves the quality of our supply chain. Hence, SPL continues to provide the most sophisticated gas turbine silencing solutions, built upon our long track record of proven installations.
- In June 2021, Highline Warren, a leading manufacturer and distributor of auto maintenance products, announced the acquisition of Sapp Bros. diesel exhaust fluid (DEF) division. As a result of this acquisition, Highline Warren will be able leverage Sapp’s capabilities and relationships in order to better serve their customers throughout their unique national liquids distribution and manufacturing platform.
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.
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The market for exhaust systems is predicted to expand significantly over the next few years due to factors like rising vehicle production, rising consumer demand for better fuel economy and performance, and stricter emission regulations. The COVID-19 pandemic and fluctuating raw material prices, however, could present difficulties for the market’s expansion.
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