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Breathing Innovation: Automotive Exhaust Systems Market Paving the Way for Cleaner Futures
Automotive Exhaust Systems Global Market Report 2024
The Business Research Company offers in-depth market insights through Automotive Exhaust Systems Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The automotive exhaust systems market size has grown strongly in recent years. It will grow from $40.28 billion in 2023 to $42.91 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to regulatory emissions standards, consumer demand, vehicle production growth, fuel efficiency requirements, noise pollution control.
The automotive exhaust systems market size is expected to see strong growth in the next few years. It will grow to $55.89 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to electric and hybrid vehicles, lightweight materials, autonomous vehicles, aftermarket and retrofit market, hydrogen fuel cell vehicles, recycling and sustainability, emissions reduction goals. Major trends in the forecast period include emission reduction technologies, integration of sensors and electronics, advanced manufacturing techniques, collaborations and mergers, customization and aesthetics, advanced coating technologies.
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Market Segmentation:
The automotive exhaust systems market covered in this report is segmented -
1) By Technology: Diesel Oxidation Catalyst (DOC), Diesel Particulate Filter (DPF), Selective Catalytic Reduction (SCR), Exhaust Gas Recirculation (EGR), Gasoline Particulate Filter (GPF), Other Technologies
2) By Vehicle Type: Passenger Cars, Light Commercial Vehicle, Truck and Bus
Major Driver - Rapid Increase In Car Ownership Spurs Growth In The Automotive Exhaust Systems Market
The increase in automobile production is driving the automotive exhaust systems market. 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. Therefore, increasing automobile production is expected to boost demand for automotive exhaust systems during the forecast period.
Competitive Landscape:
Major companies operating in the automotive exhaust systems market report are Benteler International AG, Continental AG, Eberspacher Group, Faurecia SE, Friedrich Boysen GmbH & Co. KG, Tenneco Inc., MagnaFlow, Borla Performance Industries, Bosal Industries Limited, Sejong Industrial Co. Ltd., Yutaka Giken Co. Ltd., Sango Co. Ltd., Futaba Industrial Co. Ltd., Kolbenschmidt Pierburg AG, Delphi Technologies, Tata AutoComp Systems Limited, Eminox Ltd., Calsonic Kansei Corporation, AP Exhaust Products Inc., Sankei Giken Kogyo Co. Ltd., Motus Integrated Technologies, Meritor Inc., Sharda Motor Industries Ltd., Johnson Matthey plc, Arvin Sango Inc., CECO Environmental Corporation, Flowmaster Inc., Dynomax Inc., Crown, Katcon SA de CV
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Top Trend - Automotive Suppliers Establish New Plants For Exhaust Technology
Establishment of new production plants a key trend gaining popularity in the automotive exhaust systems market. The companies operating in automotive exhaust systems are focused on building new manufacturing plants to expand thier business reach new emerging market. For instance, in March 2021, Esslingen, a Germany-based automotive supplier introduced a new plant for exhaust technology in Ramos Arizpe close to Saltillo, Mexico. The new Mexican plant improves the efficiency of the production chain in North America. Esslingen can swiftly and directly provide clients right there. The production site is close to a number of significant multinational automakers. Due to its proximity to the Pan-American Highway, Saltillo has fantastic transportation and traffic connections.
The Table Of Content For The Market Report 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 Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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