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Exhaustive Analysis: Unveiling Current and Future Scenarios of the Automotive Exhaust Systems Market || Benteler International, Continental AG, Eberspacher, Faurecia
Automotive Exhaust Systems Market
The Business Research Company's Automotive Exhaust Systems Global Market Report 2023 the increase in automobile production is the major driver for the automotive exhaust systems market's growth in the forecast period. Rapid growth in disposable income among individuals in both developing and developed countries and growing demand for a personal vehicle for daily commute to work has contributed to rapid growth in demand for automobiles across the globe. The rapid growth in demand for automobiles is expected to the boost utilization of automotive exhaust systems, as they are a vital component in the manufacturing of automotive vehicles. For instance, in 2021, according to OICA (Organisation Internationale des Constructeurs d'Automobiles), around 80 million cars including passenger vehicles and commercial vehicles were produced, a 3% increase from 2020.
The global automotive exhaust systems market size grew from $37.89 billion in 2022 to $41.37 billion in 2023 at a compound annual growth rate (CAGR) of 9.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The automotive exhaust systems market size is expected to grow to $55.17 billion in 2027 at a CAGR of 7.5%.
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Major competitors in the automotive exhaust systems market are Benteler International, Continental AG, Eberspacher, Faurecia, Friedrich Boysen, Sango Co., Ltd., Sejong Industrial Co. Ltd., Tenneco Inc., Yutaka Giken Co.
A key trend in the automotive exhaust systems market includes establishment of new production plants. Major companies operating in the market are focusing on product innovation to strengthen their position in the market. For Instance, in November 2021, Israel Aerospace Industries (IAI), an Israel-based defense company, launched a new electronic warfare system called Scorpius. This defense system works on active electronically scanned array (AESA) technology and enables armed forces to combat full-scale threats such as missiles, and drone ships, effectively disrupting radar, data communications, and electronic sensors.
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The Automotive Exhaust Systems market is segmented -
• By Technology: Diesel Oxidation Catalyst (DOC), Diesel Particulate Filter (DPF), Selective Catalytic Reduction (SCR), Exhaust Gas Recirculation (EGR), Gasoline Particulate Filter (GPF), Other Technologies
• By Vehicle Type: Passenger Cars, Light Commercial Vehicle, Truck and Bus
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the automotive exhaust systems market.
The Business Research Company's "Global Automotive Exhaust Systems Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Automotive Exhaust Systems Market Include:
1. Executive Summary
2. Automotive Exhaust Systems Market Characteristics
3. Automotive Exhaust Systems Market Trends And Strategies
4. Automotive Exhaust Systems Market - Macro Economic Scenario
5. Automotive Exhaust Systems Market Size And Growth
……………
27. Automotive Exhaust Systems Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Automotive Exhaust Systems Market
29. Automotive Exhaust Systems Market Future Outlook And Potential Analysis
30. Appendix
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