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Automotive Exhaust System Market Analysis by Product Type (Exhaust Pipes, Exhaust Manifold, Muffler, Catalytic Converter, Oxygen Sensor); by Fuel Type (Diesel, Gasoline, and Alternate Fuels); and by Vehicle Type (Passenger Vehicle, Light Commercial Vehicle, and Heavy Commercial Vehicle) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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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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IN THE NEWS

  • Tenneco Incorporated – revealed that it’s advanced exhaust and powertrain technologies is responsible for the 2020 Chevrolet Corvette Stingray's sound and performance.
  • Benteler International Aktiengesellschaft’s - electrically heated catalytic converters offers car manufacturers a solution in compliance with the strict pollutant requirements of the new EU-7 standard. It also ensures almost 100% pollutant removal during cold starts, making a further contribution towards sustainable mobility.

Global Automotive Exhaust System Market Highlights Over 2023 - 2033

Base Year

2022

Forecast Year

2023-2033

CAGR

~6%

Base Year Market Size (2022)

~USD 105 Billion

Forecast Year Market Size (2033)

~USD 195 Billion

The global automotive exhaust system market is estimated to garner a revenue of ~USD 195 billion by the end of 2033 by growing at a CAGR of ~6% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 105 billion in the year 2022. The growth of the market can primarily be attributed to the growing demand of automotive exhaust system owing to the fact that transportation holds the largest share of greenhouse gas (GHG) emissions worldwide. For instance, the transport sector was responsible for ~25% of greenhouse gas emissions in 2020.

Automotive-Exhaust-System-Market-Scope

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Automotive exhaust system collects the exhaust gases from the cylinders, removes harmful substances, and reduces the level of noise. It also discharges the purified exhaust gases at an appropriate point of the vehicle away from its occupants. Depending on the engine, the automotive exhaust system can consist of one or two channels. With every internal combustion engine producing the exhaust noise as well as stringent policies regarding the noise limits, the demand for automotive exhaust systems is on the rise amongst the automobile manufacturers, which in turn, is expected to create massive revenue generation opportunities for the key players operating in the global automotive exhaust system market during the forecast period. For instance, as per the Environment Protection Rules 1986 (EPR), the noise limits of all passenger and commercial vehicles at the manufacturing stage should range from 81 dB to 90 dB.

Global Automotive Exhaust System Market: Growth Drivers and Challenges

Growth Drivers

  • Rising Emission from Passenger Vehicle - several components of exhaust system work together to provide a conduit for exhaust gases to exit the engine by making their way out beneath the vehicle with a reduced exhaust noise. The rising vehicular emission is expected to boost the automotive exhaust market in the forecasted period. For instance, an average passenger vehicle emits nearly 400 grams of Carbon Dioxide (CO2) per mile.
  • Growing Urban Pollutionfor instance, it was estimated that, traffic was responsible for around 25% of urban ambient air pollution from fine particulate matter (PM2.5) in 2019.
  • Increasing Registrations of Diesel Carsfor instance, ~30 % of new passenger cars registered in European Union in were diesel powered.
  • Growing Number of Vehiclesfor instance, China being the largest holder of the fleet of motor vehicles in the world, has ~300 million motor vehicles, excluding two-wheelers in 2022.

Challenges

  • Stringent Government Emission Norms & Exhaust System Policy
  • Surge in the Demand of Electric Vehicles
  • Low Awareness About the Emission Ill-effects Amongst the Populace

The global automotive exhaust system market is segmented and analyzed for demand and supply by fuel type into diesel, gasoline, and alternate fuels. Amongst these segments, the gasoline segment is anticipated to garner the largest revenue by the end of 2033, backed by the growing number of vehicle registration along with the surge in the penetration of gas powertrain worldwide. For instance, ~22 million vehicles were registered in the United States in 2018, out of which ~94% vehicles had gas powertrain.

Global Automotive Exhaust System Market Regional Synopsis

Regionally, the global automotive exhaust system market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in Asia Pacific is projected to hold the largest market share by the end of 2033, backed by the presence of a strong automobile network in the region, growing number vehicles, as well as the rising vehicular emission resulting into air pollution along with rising concern of growing incidences. For instance, as per a study on the ‘Health and Economic Impact of Air pollution in India’, about 18% of all deaths in 2020 could be attributed to air pollution, resulting into a loss of ~1.2% of gross domestic product (GDP).

Automotive-Exhaust-System-Market-Size

The global automotive exhaust system market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • 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, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global automotive exhaust system market includes the following segments:

By Product Type

  • Exhaust Pipes
  • Exhaust Manifold
  • Muffler
  • Catalytic Converter
  • Oxygen Sensor

By Fuel Type

  • Diesel
  • Gasoline
  • Alternate Fuels

By Vehicle Type

  • Passenger Vehicle
  • Light Commercial Vehicle
  • Heavy Commercial Vehicle

Top Featured Companies Dominating the Global Automotive Exhaust System Market

  • Benteler International AG
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Tenneco Incorporated
  • Marelli Holdings Co., Ltd.
  • Faurecia
  • Eberspächer Gruppe GmbH & Co. KG
  • Friedrich Boysen GmbH & Co. KG
  • Futaba Industrial Co., Ltd.
  • Sejong Industral Co., Ltd.
  • Bosal Emission Control Systems
  • Yutaka Giken Co., Ltd.
  • Denso Corporation

 

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