Press release
Exhaust System Market by 2025 - Analysis, Trends and Forecasts
The Exhaust System Market is estimated to be USD 84.8 billion in 2018 and is projected to reach USD 128.2 billion by 2025, at a CAGR of 6.08%.Browse 109 market data Tables and 60 Figures spread through 201 Pages and in-depth TOC on "Exhaust System Market"
View Full TOC @ https://www.marketsandmarkets.com/Market-Reports/automotive-exhaust-system-market-87800437.html
Some of the key players in the exhaust system market are Faurecia (France), Tenneco (US), Continental (Germany), Eberspächer (Germany), Futaba Industrial (Japan), Benteler International (Austria), Friedrich Boysen (Germany), Yutaka Giken (Japan), Sejong Industrial (South Korea), and Bosal (Belgium).
The SCR segment is expected to be the largest contributor in the exhaust system market, by after-treatment device, during the forecast period
The SCR technology offers benefits including enhanced nitrogen oxide (NOx) reduction than LNT by nearly 90%, and hence, it is mostly preferred in diesel vehicles across the globe. SCR has a maximum installation rate in European and North American countries owing to the ongoing emission norms such as Euro 6 and Tier 3 respectively. Europe has a large adoption rate of diesel passenger cars and LCVs. Thus, it has a higher installation rate of SCRs compared to other regions such as Asia Oceania and North America in these vehicle types. Further, the newer trucks and buses of developed countries must withstand the NOx permissible limits and should be fitted with SCRs. Moreover, owing to the ongoing and upcoming stringent emission norms in developing countries such as China, India, and Thailand, the demand for SCRs is expected to increase significantly across all diesel vehicle types by 2022 at a global level.
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Light-duty vehicle (LDV) is estimated to be the fastest-growing aftermarket during the forecast period
LDVs comprise passenger cars and LCVs. In LDV, passenger cars hold the largest market share for the after-treatment devices owing to the maximum vehicle parc. According to MarketsandMarkets analysis, the contribution of passenger cars in the overall vehicle parc stood at nearly 70–75% in 2017 which is anticipated to grow at a prominent rate in the coming years. Also, emission regulations are getting more stringent for all vehicles. Between the Euro 4 to Euro 6, PM and NOx levels have reduced significantly. This has prompted the installation of DOC, DPF, and SCR in older vehicles which has further spurred the demand for after-treatment devices in the aftermarket for passenger cars. On the other hand, along with the passenger cars, the emission norms are getting tighter for LCVs that further lead to the implementation of after-treatment devices.
Asia Oceania exhaust system market is estimated to be the largest market due to the factors such as the largest vehicle production and upcoming emission norms
Asia Oceania has the largest market share of vehicle production with about 54–56% of the total vehicle production. China, India, and Japan are the largest vehicle production hubs because of rising urbanization, increasing GDP, and industrialization among others. With the growing vehicle production, vehicle emissions have also increased significantly. Considering this, few countries such as China, Japan, and India have implemented vehicle emission norms. For instance, China and India are currently running on China IV and BS-IV. However, they are planning to implement China VI and BS-VI by 2020 which is equivalent to Euro VI. Moving toward strict emission norms will create a huge demand for various after-treatment devices. In Asia Oceania, China and Japan are the leading countries for the exhaust system market, by the after-treatment device.
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Key Questions addressed by the report:
1. Which after-treatment device is going to dominate in the future?
2. How are the industry players addressing the challenge of maintaining a balance between performance and low-cost diesel after-treatment devices?
3. When is SCR going to get mass adoption in the exhaust system market for all vehicle types?
What could be the market size of exhaust systems for off-highway vehicles?
4. What could be the market size of exhaust systems for the aftermarket?
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