The global automotive exhaust systems market is expected to surpass a market valuation of USD 112,653.7 million by 2023, accelerating with a moderate CAGR of 6.1% from 2023 to 2033. The automotive exhaust systems market size is anticipated to be valued at about USD 203,657.0 million by 2033 end.
| Attributes | Details |
|---|---|
| Market Share (2022) | USD 106,983.6 million |
| Market Share (2023) | USD 112,653.7 million |
| Market Share (2033) | USD 203,657.0 million |
| Market Share (2023 to 2033) | 6.1% |
Cars manufactured and sold directly impact the automotive exhaust systems market's need for exhaust systems. As a result, the rising demand for automotive exhaust systems is fuelled by rising sales of passenger automobiles and commercial vehicles in developed and emerging economies. Furthermore, gasoline and diesel engines release poisonous chemicals and particles that are dangerous to the environment. Therefore, stringent regulatory rules linked with carbon emissions are projected to boost the market over the projection period.
To mitigate the negative effects of the automobile industry on the environment, governments throughout the world are enacting more stringent restrictions for vehicle emissions. Component manufacturers are under increasing pressure from governments across the world to design and manufacture vehicle exhaust systems that are both highly efficient and environmentally benign.
The automotive sector in Europe's developed economies like Italy, the Netherlands, and France has expanded as a result of rising disposable incomes across the board. The growth prospects of the market are likely bolstered by the rising demand for passenger and commercial cars in regions such as the Asia Pacific, the Middle East and Africa, and Latin America.
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Market Drivers
Rapid innovations in exhaust system technology, such as exhaust after-treatment systems and exhaust gas recirculation (EGR) systems, have arisen in response to stringent government pollution regulations and are predicted to drive the sales of automotive exhaust systems. Diesel engine exhaust systems that reduce NOx emissions are being developed by automakers to meet forthcoming automotive pollution rules
. All these factors connected to the development and enhancement of the automotive exhaust system are expected to raise the demand for advanced exhaust systems for automobiles.
Rapid urbanization and rising per capita income are fuelling a rise in the demand for and supply of automobiles in developing countries like China and India. Growth is anticipated for the industry as more fuel-efficient cars enter the market. The proliferation of automakers using green technologies to produce low-emission vehicles is expected to drive industry expansion.
Consumers who worry about the effects of pollution on their health and the environment are expected to increase, driving up the demand for vehicles with advanced, low-emission exhaust systems.
Market Restraints
People's awareness of the negative effects of automobile emissions on the environment has led to a rise in the demand for electric vehicles. Government subsidies and tax exemption policies are expected to increase the global adoption of electric vehicles, which is expected to slow the growth of the automotive exhaust systems market in the next few years.
City buses, taxis, utility trucks, and other short-range vehicles are among the vehicles predicted to make the conversion to electric power in the next years, according to global trends. Electric cars have a significant out-of-pocket expense compared to conventionally powered automobiles.
These automobiles are attractive investments for administrative authorities because they have far lower operating costs than diesel or gasoline-powered vehicles. To sum up, these factors are expected to dampen demand for automotive exhaust systems.
Market Trends
European Regulation (EC) No. VI mandates that the nitrogen oxide emissions from new passenger vehicles cannot be greater than 168 milligrams per kilometer. Future years are predicted to bring harsher regulations and a lowering of the maximum emission threshold to 120 milligrams per kilometer, all to battle environmental dangers.
Many manufacturers in the exhaust business are putting significant resources into R&D to design and build exhaust systems that meet these requirements, one of the most notable trends in the sector. Also, as people become more aware of the problems caused by automobiles, they want vehicles that produce fewer emissions and have more modern automotive exhaust systems.
The automotive exhaust systems market has been divided into the gasoline and diesel engine categories. In 2022, gasoline sales made up almost 78.3% of total sales, and this trend is expected to continue during the projection period. Nearly all cars in developing countries use internal combustion engines.
The rising demand for electric vehicles in developed countries has led to a decline in the demand for internal combustion engine (ICE) vehicles, but in developing countries, the lack of an adequate electric vehicle infrastructure has contributed to the continued growth of the ICE market.
But governments everywhere are moving to outlaw the sale of internal combustion engine cars and promote the widespread use of electric vehicles. France and the United Kingdom have stated their intention to end the sale of diesel and gasoline vehicles by 2040. However, the original 2035 deadline for this prohibition has been moved up.
Starting in 2035, the country is anticipated to no longer allow the sale of new diesel or gasoline vehicles. Nonetheless, the city of Paris is now working on a plan to eliminate the use of diesel vehicles by 2024 and gasoline vehicles by 2030.
Passenger cars generated over 72.7% of total automotive exhaust systems market revenue in 2022, and this trend is expected to continue over the forecast period. Around the predicted period, the sector is expected to record a CAGR of over 5.0%. In 2022, passenger cars accounted for around 72.7% of the industry's output. In 2019, there were 569 automobiles for every 1,000 people in Europe, as the European Automobile Manufacturers' Association (ACEA) reported. In addition, developing countries like China and India are anticipated to boost the automotive exhaust systems market expansion over the predicted time frame.
From 2021 to 2028, the market for commercial vehicles is expected to register a CAGR of about 8.0%. This expansion directly results from rising demands in the transportation and logistics industries for large vehicles. The logistics sector is one of the most important final markets for commercial vehicles. Trailers and trucks are becoming increasingly used for transporting products. People's preferences for having goods and services delivered to them reflect the rise of urbanization and shifts in consumer culture.
The exhaust manifold market segment held a 39 percent share in 2022 and is anticipated to capture a sizable CAGR during the forecast period due to its relatively high price relative to other components.
By 2028, mufflers are expected to have the leading share of the automotive exhaust systems market, with a CAGR of over 7.0% during the forecast period. Manufacturers of automobiles are placing increased emphasis on developing quieter, cleaner exhaust systems in response to tightening emission regulations. Hyundai introduced the Creta, a compact SUV with a dual-exhaust muffler, in 2020.
Principal Consultant
| Attributes | Details |
|---|---|
| United States | Stringent pollution rules are expected to boost the United States automobile exhaust systems market. In November 2018, the EPA unveiled its Cleaner Trucks Initiative, which attempted to adjust NOx and particulate matter emission limits. From 2007 to 2017, NOx emissions dropped by nearly 40% due to 2001 emission rules. Despite this reduction, heavy-duty trucks remain the key source of mobile NOx emissions and are forecasted to be the leading cause of ozone by 2025. Cleaner Trucks Initiative aims to reduce this massive contribution. To enhance this strategy, the EPA is conducting several technical initiatives and research, such as the heavy-duty diesel advanced engine, after-treatment technology demonstration program, and heavy-duty gasoline program. Based on these factors, sales of automotive exhaust systems are growing. |
| China | According to Melchers China, the East Asian powerhouse sells a quarter of all vehicles globally. After rapid sales growth until 2018, the automotive exhaust systems market entered a mature stage. The pandemic-induced downturn also slowed growth. Fortunately, disruptive technologies like automation, connected, and alternative fuel cars are projected to shift the sector away from extended stagnation and generate considerable revenue sources. By 2025, 4 liter-per-100-km fuel-efficient cars should be the norm. Due to these changes, the Chinese automobile exhaust systems landscape is projected to improve, with more regional manufacturers. Qingdao Cartier Industry and Trading Co., Nantong Fengyun Auto Parts Co., Cixi Jinbei Machinery Fittings Factory, and Zhejiang Yueding Corrugated Tube Co. |
| United Kingdom | According to the Society of Motor Manufacturers and Traders, the United Kingdom is the 13th prominent vehicle producer globally and the 4th in Europe. The new light commercial vehicle market grew 22% to 17,205 units in February 2021, exceeding 9% annually. This increase should boost short-term sales of automotive exhaust systems. As conventional car sales rise, so do emissions to reduce pollution. The 2018 Road to Zero project aims to produce 100% zero-emission automobiles by 2040. The project intends to make 70% of new car sales and 40% of new van sales ultra-low emissions by 2030. Such ambitious goals have led to the establishment of significant regional companies and the arrival of global firms. JP Exhausts, a regional manufacturer, produced a 10-litre double-valve exhaust for the Dodge Charger V8 in April 2020. BTB Exhausts makes 150-mm and 175-mm silencers. |
According to research on the automotive exhaust systems industry's competitive landscape, a few large, established businesses account for most market revenue.
These companies have risen to the top of their field thanks in large part to the introduction of novel devices and the development of a diverse range of products for use with exhaust systems. During the forecast period, these businesses are predicted to increase their market share, which is expected to positively affect the global automotive exhaust systems market.
Recent Developments Observed by FMI:
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Market leaders in automobile exhaust systems are spending money researching and upgrading catalysts. At its operational temperature, which is normally above 400oC, a three-way catalyst may reduce the pollution produced by vehicles at 100% conversion efficiency. One of the most prominent catalyst manufacturers, Johnson Matthey Inc., is working on a three-way catalyst for future vehicles expected to cut CO2 emissions while drastically increasing fuel efficiency. Market participants might expect to benefit from this automotive catalyst breakthrough in the future.
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD million for Value |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; The Middle East & Africa (MEA) |
| Key Countries Covered | United States, Canada, Germany, United Kingdom, Nordic, Russia, BENELUX, Poland, France, Spain, Italy, Czech Republic, Hungary, Rest of EMEAI, Brazil, Peru, Argentina, Mexico, South Africa, Northern Africa, GCC Countries, China, Japan, South Korea, India, ASEAN, Thailand, Malaysia, Indonesia, Australia, New Zealand, Others |
| Key Segments Covered | Product Type, Vehicle, Engine Type, Sales Channel, Region |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Trend Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The automotive exhaust systems market is expected to thrive at 6.1% CAGR from 2023 to 2033.
The automotive exhaust systems market is estimated to surpass USD 112,653.7 million in 2023.
The automotive exhaust systems market is anticipated to reach a valuation of USD 203,657.0 million by 2033.
Asia Pacific is expected to account for more than 60% of the global growth in demand for vehicle exhaust systems.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Exhaust Manifold 5.2. Muffler 5.3. Catalytic Converter 5.4. Oxygen Sensor 5.5. Exhaust Pipes 6. Global Analysis 2018 to 2022 and Forecast 2023 to 2033, By Vehicle Type More subitems here 6.1. Passenger Car 6.2. Light Commercial Vehicle 6.3. Heavy Commercial Vehicle 7. Global Analysis 2018 to 2022 and Forecast 2023 to 2033, By Engine Type 7.1. Gasoline 7.2. Diesel 8. Global Analysis 2018 to 2022 and Forecast 2023 to 2033, By Sales Channel 8.1. Original Equipment Manufacturer (OEM) 8.2. Aftermarket 9. Global Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 9.1. North America 9.2. Latin America 9.3. Western Europe 9.4. Eastern Europe 9.5. South Asia and Pacific 9.6. East Asia 9.7. Middle East and Africa 10. North America Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Latin America Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Western Europe Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Eastern Europe Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. South Asia and Pacific Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. East Asia Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Middle East and Africa Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 17. Key Countries Analysis 18. Market Structure Analysis 19. Competition Analysis 19.1. Faurecia S.A. 19.2. Tenneco Inc. 19.3. Eberspächer Group 19.4. Friedrich Boysen GmbH & Co. KG 19.5. Benteler International AG 19.6. Futaba Industrial Co. Ltd. 19.7. Yutaka Giken Co. Ltd. 19.8. Bosal International N.V. 19.9. Harbin Airui Automotive Exhaust Systems Co. Ltd. 19.10. Sejong Industrial Co. Ltd. 20. Assumptions & Acronyms Used 21. Research Methodology
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Automotive Exhaust Systems Market
