Automotive Exhaust Systems Market Size, Share & Trends Analysis Report By Component, By Fuel Type (Gasoline, Diesel), By Vehicle Type (Passenger Car, Commercial Vehicles)- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2021-2027

The global Automotive Exhaust Systems market gathered revenue around USD 44.70 Billion in 2020 and market is set to grow USD 66.95 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 5.9% during the prediction period 2021 to 2027.

Automotive Exhaust Systems Market Size 2021 to 2027

Growth Factors:

The demand for automotive exhaust systems is directly dependent on automotive production and sales units. Thus, the increasing sales of passenger cars and commercial vehicles across developed and emerging economies are driving the demand for automotive exhaust systems globally. Moreover, stringent government standards associated with carbon emissions are expected to drive the market over the forecast period as gasoline and diesel engines emit toxic gases and particles that are hazardous to the environment.

Stringent government regulations associated with vehicle emissions coupled with the increasing penetration of after-treatment devices are anticipated to drive the demand for automotive exhaust systems. Moreover, the increasing sales of passenger cars and commercial vehicles along with the growing demand for lightweight emission systems are expected to create significant opportunities for players operating across the value chain of the market.

Automotive OEMs are working on several aspects, such as new and lightweight materials, drivetrain (engine/transmission) efficiency, and aerodynamic design, to reduce the vehicular weight. Conventional exhaust systems and their components are manufactured using materials such as stainless steel, cast iron, and mild steel/carbon steel. However, several automotive OEMs, exhaust system manufacturers, and other companies are working to provide lightweight products made from composite metals with high-temperature resistance. For instance, Tenneco Inc. offers lightweight compact systems and lightweight after-treatment and dosing systems to improve the fuel economy and thermal management of the exhaust system and overall vehicle.

This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Automotive Exhaust Systems market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Automotive Exhaust Systems market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.

Report Coverage

Report Scope Details
Market Size USD 66.95 Billio by 2027
Growth Rate CAGR of 5.9% From 2021 to 2027
Base Year 2020
Forecast Period 2021 to 2027
Historic Data 2017 to 2020
Report coverage Growth Factors, Revenue Status, Competitive Landscape,  and Future Trends
Segments Covered  Component, fuel type, vehicle type and Region
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Companies Mentioned  Faurecia; Friedrich Boysen; BENTELER International; Tenneco Inc.; Continental AG; Bosal; Eberspächer; FUTABA INDUSTRIAL CO., LTD.; Sejong Industrial Co., Ltd.; Yutaka Giken Company Limited

COVID-19 Impact Assessment on Market Landscape

The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.

Automotive Exhaust Systems market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.

Market Segments analysis:

By Component analysis:

Based on components, the market has been segmented into the exhaust manifold, muffler, catalytic converter, oxygen sensor, and exhaust pipes. In 2020, the exhaust manifold segment accounted for a dominant share of around 39% and is estimated to expand at a significant CAGR over the forecast period due to its high price compared to other components.

The muffler segment is projected to register the highest CAGR of over 7.1% over the forecast period, accounting for a majority of the sales of automotive exhaust system components by 2027.

By Fuel Type analysis:

Based on fuel type, the market has been segmented into gasoline and diesel. The gasoline segment accounted for the largest revenue share of around 80.1% in 2020 and is anticipated to maintain its dominance over the forecast period. In the emerging economies, 9 out of 10 vehicles are equipped with an internal combustion engine. While the popularity of electric vehicles in regions such as North America and Europe has dwindled ICE vehicle sales, limited electric vehicle infrastructure in emerging countries continues to contribute to the growing sales of gasoline-driven vehicles.

By Vehicle Type analysis:

The passenger car segment accounted for the largest revenue share of over 70.2% in 2020 and is anticipated to maintain its dominance over the forecast period. The segment is estimated to expand at a CAGR of over 5.1% over the forecast period. Passenger cars occupied the majority share of over 71% of the total vehicle production in 2020. In Europe, according to European Automobile Manufacturers' Association (ACEA), vehicles per capita were recorded at 569 vehicles per 1,000 inhabitants in 2019. Besides, emerging economies such as China and India are expected to further accelerate the market growth over the forecast period.

Regional analysis:

In 2020, Asia Pacific captured around 60.2% of the automotive exhaust systems demand and is estimated to register a CAGR of over 7.1% from 2021 to 2027. This can be attributed to the increasing technological awareness and spending capacity of customers in the region. Moreover, the evolving automotive industry in emerging economies such as China and India is expected to drive the growth of the market. The Make In India campaign is expected to draw substantial investments in the automotive sector as India offers several benefits, such as low-cost labor and cheaper raw materials. India and China comprise large supply chains & logistics networks and are among the fastest-growing economies globally. The growing e-commerce industry in the region is also anticipated to boost the demand for commercial vehicles over the coming years.

The Latin American region is projected to expand at the second-highest CAGR of over 6.5% over the forecast period. The increasing automotive production and sales across countries such as Brazil and Mexico are expected to support the growth of the regional market. Brazil is the largest automotive producer in South America and accounts for almost 50% of vehicles sold in the region. The country also ranks eighth in the world for automotive production. Its automotive industry comprises over 5.3% of the overall GDP of the country, contributing over BRL 266 (USD 52.5) billion. Meanwhile, Mexico is the sixth-largest passenger car manufacturing country globally and the fifth-largest producer of auto parts.

Competitive Rivalry

Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

  • Company Overview
  • Company Market Share/Positioning Analysis
  • Product Offerings
  • Financial Performance
  • Recent Initiatives
  • Key Strategies Adopted by Players
  • Vendor Landscape
  • List of Suppliers
  • List of Buyers

Some of the prominent players in the Automotive Exhaust Systems Market include:  Faurecia; Friedrich Boysen; BENTELER International; Tenneco Inc.; Continental AG; Bosal; Eberspächer; FUTABA INDUSTRIAL CO., LTD.; Sejong Industrial Co., Ltd.; Yutaka Giken Company Limited

Segments Covered in the Report

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2027 and covers subsequent region in its scope:

  • By Component
    • Exhaust Manifold
    • Muffler
    • Catalytic Converter
    • Oxygen Sensor
    • Exhaust Pipes
  • By Fuel Type
    • Gasoline
    • Diesel
  • By Vehicle Type
    • Passenger Car
    • Commercial Vehicles

By Geography

North America

  • U.S.
  • Canada

Europe

  • Germany
  • France
  • United Kingdom
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Southeast Asia
  • Rest of Asia Pacific

Latin America

  • Brazil
  • Rest of Latin America

Middle East & Africa (MEA)

  • GCC
  • North Africa
  • South Africa
  • Rest of Middle East & Africa

Highlights of the Report:

  • Market Penetration: Comprehensive information on the product portfolios of the top players in the market.
  • Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market
  • Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
  • Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
  • Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market

Research Methodology

In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Automotive Exhaust Systems market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.

Secondary resources referred to by analysts during the production of the Automotive Exhaust Systems market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.

Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Automotive Exhaust Systems markets more accurate and reliable.

Secondary Research

It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.

The secondary research sources referred in the process are as follows:

  • Governmental bodies, and organizations creating economic policies
  • National and international social welfare institutions
  • Company websites, financial reports and SEC filings, broker and investor reports
  • Related patent and regulatory databases
  • Statistical databases and market reports
  • Corporate Presentations, news, press release, and specification sheet of Manufacturers

Primary Research

Primary research includes face-to face interviews, online surveys, and telephonic interviews.

  • Means of primary research: Email interactions, telephonic discussions and Questionnaire based research etc.
  • In order to validate our research findings and analysis we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.

Industry participants involved in this research study include:

  • CEOs, VPs, market intelligence managers
  • Procuring and national sales managers technical personnel, distributors and resellers
  • Research analysts and key opinion leaders from various domains

Key Points Covered in Automotive Exhaust Systems Market Study:

  • Growth of Automotive Exhaust Systems in 2021
  • Market Estimates and Forecasts (2017-2027)
  •  Brand Share and Market Share Analysis
  •  Key Drivers and Restraints Shaping Market Growth
  •  Segment-wise, Country-wise, and Region-wise Analysis
  •  Competition Mapping and Benchmarking
  •  Recommendation on Key Winning Strategies
  •  COVID-19 Impact on Demand for Automotive Exhaust Systems and How to Navigate
  •  Key Product Innovations and Regulatory Climate
  •  Automotive Exhaust Systems Consumption Analysis
  •  Automotive Exhaust Systems Production Analysis
  •  Automotive Exhaust Systems and Management