Press release
Exhaust Systems Market is Estimated to Represent US$ 57,500 Mn by 2022
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OEM - Top Sales Channel for Exhaust Systems
Based on sales channel, the OEM segment currently accounts for over 60% share of the market and this trend is likely to continue throughout the forecast period. In addition, the segment is expected to stand at US$ 37,722.8 Mn towards the end of 2022, expanding at 5% CAGR. As the overall auto industry undergoes massive transformation, OEMs will also need to adapt accordingly to leverage the available opportunities and avoid obsoleteness. Meanwhile, the aftermarket segment is expected to witness a relatively lower growth. By 2022-end, nearly US$ 19,781.8 Mn worth exhaust systems are estimated to be sold in the aftermarket.
By vehicle type, passenger car is projected to remain the most lucrative segment of the global exhaust systems market. Increased global demand for passenger cars is expected to support the growth of the market in 2017 and beyond. The LCV segment is expected to emerge as the second segment over 2022.
On the basis of fuel type, the diesel segment is projected to witness a relatively higher growth as compared to gasoline segment. By 2022-end, the diesel segment is expected to reach a market valuation of US$ 36,449.3 Mn. This is attribute to growing consumer preference for vehicles that run on diesel.
Additional Highlights of the Report
Asia Pacific excluding Japan (APEJ) to remain the largest market for exhaust system during the forecast period. The market in China remains highly fragmented with thousands of small players vying for a share in the pie. Moreover, some Chinese companies are aiming big and are now foraying into overseas markets.
Harbin Airui Automotive Exhaust System Co., Ltd., Eberspacher, Benteler International AG, Yutaka Giken Co., Ltd., Faurecia, Tenneco Inc., Sango Co., Ltd, Futaba Industrial Co., Ltd, Friedrich Boysen GmbH & Co. KG, and Sejong Industrial Co., Ltd. are some of the key players operating in the global market for exhaust system.
Many of the key market players are strongly emphasizing on development of innovating products that are technologically advanced and meet the regulatory and clients needs.
The growing trend of collaboration and strategic partnerships between carmakers and auto component suppliers is likely to govern the market during the forecast period.
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