The global automotive exhaust systems market size was valued at USD 74 billion in 2022 and it is expected to hit around USD 123.43 billion by 2032 and poised to grow at a compound annual growth rate (CAGR) of 5.3% during the forecast period 2023 to 2032.
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Increased worries about increased carbon emissions standards are a major factor driving the huge increase in automobile particulate filters, which has prompted numerous regional and international levels policies to reduce the same. To increase the effectiveness of particulate filters, companies are implementing strategies like selective catalyst reduction. Sales of automobiles powered by renewable sources are stoking the desire for ecological transportation options as the world's demand for transport picks up speed. This redirects money streams to the creation of this kind of option as electric cars.
The production levels of automobiles have a direct impact on the market for automobile ventilation systems. Thus, the growing market for engine exhaust projects around the world is being driven by the rising production of passenger automobiles and commercial trucks in emerging and developed countries.
The strict regulation restrictions and rising producer expenditure in R&D for efficient exhaust systems are anticipated to fuel the growth of the vehicle exhaust equipment market during the next years. Additionally, the market is anticipated to rise in the upcoming years due to the expanding automotive sector in emerging regions and the environmental degradation brought on by dangerous gases. Furthermore, it is estimated that the industry would be supported in the forecasted years by increased car production, advancements in automobile catalysts, and technical alliances among OEMs and Tier I firms. Some limitations and difficulties may be some limitations and difficulties that may prevent the industry from expanding. Market limitations are predicted to be caused by things like the high price of automobile catalysts as well as the expanding electric car market.
Report Scope of the Automotive Exhaust Systems Market
|Market Size in 2023||
USD 77.55 Billion
|Market Size by 2032||
USD 123.43 Billion
|Growth Rate from 2023 to 2032||CAGR of 5.3%|
|Forecast Period||2023 to 2032|
|Segments Covered||Vehicle Type, Fuel Type, After-treatment Device, Component, Technology, and Geography|
|Companies Mentioned||BASF SE, Benteler International AG, Bosal International N.V., Continental AG, Eberspacher Climate Control Systems GmbH & Co. KG, Faurecia S.A., Friedrich Boysen GmbH & Co. KG, Futaba Industrial Co. Ltd., Harbin Airui Automotive Exhaust Systems Co. Ltd., Johnson Matthey, Klarius Products Ltd, Sango Co., Ltd., Sejong Industrial Co., Ltd., Tenneco, Inc., Umicore, Yutaka Giken Company Limited.|
Increasing use of combined after-treatment equipment
Technology for exhaust systems is developing quickly
The rising demand for zero-emission automobiles
Over 70% of the total income in 2022 came from the commercial vehicle category, and it is predicted that this segment will continue to dominate during the projected period. Over the projection period, the segment is anticipated to grow at a CAGR of more than 8.3%. According to the European Automotive Manufacturer Association, there were 569 automobiles per 1,000 people in Europe in 2019. Additionally, throughout the projected timeframe, emerging markets like India and China are anticipated to further drive market expansion. Only diesel cars with such a DPF are connected by PM detectors. Both petrol and diesel make it possible to make use of temperatures, NOx, and oxygen sensors.
For each particulate filter included in the exhaust pipe for all kinds of vehicles taken into consideration for the research, oxygen molecules devices are installed. In an exhaust pipe, an individual item of heat is utilized for petroleum, 2 unit for petroleum, and 2 units for every other type of fuel. The need for sensing is likely to expand over the projected timeframe as a result of the increased usage of effluent detectors in automotive particulate filters to collect, measure, and analyze the emissions gases and their quantities.
Fuel Type Insights
In 2022, the gasoline sector had the biggest revenue portion at about 82%, and it's projected that it will continue to dominate during the projected timeframe. Nine out of ten automobiles in developing nations have combustion engines. While the demand for electric vehicles has reduced ICE vehicles sold in places like the United States and Europe, the lack of an adequate electrical vehicle network in developing nations continues to support the rising sales of gasoline-powered motors. Authorities, though, are proposing to forbid the purchase of ICE cars while promoting the use of EVs.
Imports of gasoline and diesel automobiles and vans will be prohibited in France and the UK from 2040, according to proposals made public in 2017. This restriction was postponed until 2035, though. The sale of new gasoline and diesel vehicles will be prohibited starting in 2035 across the nation. Furthermore, Paris is creating a strategy to phase off diesel vehicles entirely by 2024 and gasoline vehicles entirely by 2032.
After-treatment Device Insights
To decrease the effect of emissions from vehicle variations in diesel engines, the regulatory organizations are mandating the use of gasoline variations. As a result, improvements in petrol engine varieties have been made, including the development of gasoline fuel infusion engines, which offer better fuel efficiency and reduce pollution than conventional petrol engine varieties. To mitigate the impacts of pollutants and lower emissions rates from GDI vehicles, gasoline particulates filters are utilized. GPFs allow for continuous filtering renewal while preventing soot buildup. With the growing market for straight petrol engines, the GPF sector is expected to experience the fastest rate of growth during the projected timeframe.
Automotive Exhaust Systems Market Share, By Region, 2022 (%)
|Regions||Revenue Share in 2022 (%)|
Asia Pacific accounted for about 62% of the global supply for automotive ventilation systems during 2022 and is anticipated to grow at a high CAGR. This can be linked to the region's consumers' rising technical savvy and purchasing power. Furthermore, the market is anticipated to increase as a result of the developing automotive sector in developing nations like China & India. Given that India has various advantages, including cheap labor and inexpensive natural resources, the Make in Indian initiative is anticipated to attract significant investments in the automobile industry. India and China were two of the world's fastest-growing countries and have extensive supply chains and distribution networks. In the upcoming years, it is also projected that the country's expanding e-commerce sector would increase the supply of commercial cars. Over the projected timeframe, the Latin American area is anticipated to grow at a furthermore CAGR. It is anticipated that rising vehicle sales and manufacturing in nations like Brazil and Mexico will promote global market expansion. Nearly half of the cars sold in the country are produced in Brazil, which is South America's largest automobile manufacturer. Additionally, the nation is seventh worldwide for vehicle manufacturing. With a contribution of about BRL 266 bn, the country's automobile industry accounts for more than 5.5% of the total GDP. Mexico is also the world's fifth-largest manufacturer of automotive components as well as the sixth-largest maker of passenger cars.
Key market players:
Segments covered in the report:
By Vehicle Type
By Fuel Type
By After-treatment Device
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