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Automotive Exhaust Components Aftermarket Market Segmentation By Material Type (Cast Iron, Stainless Steel, Mild Steel); By Vehicle Type (Passenger, LCV, HCV); By Sale Distribution Type (OEM and Aftermarket); By Fuel Type (Gasoline and Petrol) - Global Demand and Opportunity Outlook 2027

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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Automotive Exhaust Components Aftermarket Overview

The Automotive exhaust system is developed to control noise pollution especially noise harshness. The parameter on which it depends is vehicle type, temperature, region and application. Sheet metals are generally used in this system as it is light weight, low cost, better it is becoming the manufacturer’s choice. Stainless steel is generally used in pipes, mufflers, resonator and bellows. In modern days, manufacturers are more inclined towards material which is light in weight and has more efficiency. Modern diesel system is more preferred as they reduce noise, increase power durability. According to a government regulation in Europe, the vehicle with horse power of 150 KW or more cannot have noise level of 80 dB(decibel) or more for vehicle at an average speed of 50 km/hr(31.07 mph).

Market Size and Forecast

The growth of market is expected to reach USD 500 billion in 2027 with a CAGR around 4.5% during the period 2018-2027. The advancement of technology and digitalization is expected to boost the market growth. The market is also facing tough competition from electric vehicles as it is expected that sale of electric vehicles is set to increase thereby increasing the CAGR of electric vehicles. Thus the market of automotive exhaust component will decline to some extent. The market size of automotive exhaust also depends on the market of electric vehicles.

By region, the market is segmented into North America, Europe, Latin America, Asia Pacific and Middle East. North America has higher adoption rate of Hybrid and Electric Automobiles. It led the market in terms of revenue.

Asia Pacific is also subjected to higher growth on the account of collision repair services. It is also subjected to fastest growing market in automobile production on the account of low cost and cheap labours. It is adding the advantage to market size in countries such as China and India.CLICK TO DOWNLOAD FREE SAMPLE

Market Segmentation

Our in-depth analysis segmented the Automotive Exhaust Components Aftermarket Market in the following segments:

By Material Type:

  • Cast Iron
  • Stainless Steel
  • Mild Steel
  • Carbon Steel
  • others

By Vehicle Type:

  • Passenger car
  • LCV(light Commercial Vehicle)
  • HCV(Heavy Commercial vehicle)

By Fuel Type:

  • Gasoline
  • Petrol

By Component Type:

  • Manifold Muffler
  • Clamps
  • Stack pipe
  • Manifold pipe
  • Connector

By Sales Distribution Type:

  • OEM
  • Aftermarket

By Region

Automotive Exhaust Components Aftermarket Market is further classified on the basis of region as follows:

  • North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis

Key Players

  • Sango Co. Ltd.
  • Eberspaecher Climate Control Systems GmbH & Co. Kg.
  • Tenneco Inc.
  • Faurecia SA.
  • Futaba Industrial Co. Ltd.
  • Friedrich Boysen GmbH & Co. Kg.
  • Yutaka Giken Co. Ltd.
  • Sejong Industrial Co., Ltd.

Market Drivers and Challenges

The advancement in automotive exhaust component sector is growing at a    faster rate. It is reducing noise pollution and increasing the efficiency of the vehicle. The other prominent reason includes government policies which are environment friendly. The government policy which is pertaining to fuel efficiency and emissions are expected to increase the demand of the automotive components in the market during the forecast period. The CAGR given in the report clearly depicts the increase in the sale of the component in near future.

Rising demand for electric vehicles is anticipated to hamper the growth of the market during the forecast period. Besides this, costly equipment’s used in exhaust components may restrict the growth of Automotive exhaust components aftermarket market.

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