The automotive exhaust systems market size size is projected to cross US$ 112,652.7 million in 2023 and is estimated to attain a valuation of US$ 203,657.0 million by 2033. The automotive exhaust systems market share is expected to thrive at a CAGR of 6.1% from 2023 to 2033.
The demand for fuel-efficient cars is rising due to rising fuel costs and rising consumer ecological concerns. Automotive exhaust systems are made to improve exhaust flow and lower back pressure to enhance engine performance and reduce emissions. To accommodate this demand, manufacturers are making investments in cutting-edge exhaust technology, including turbochargers, catalysts, and diesel particle filters. These investments are expected to bolster market growth in the coming years.
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The materials and designs of exhaust systems are undergoing significant technical improvement in the vehicle sector. The weight of the exhaust system is reduced using lightweight materials, including stainless steel, aluminum, and composites, which improves fuel economy and vehicle performance. The fabrication of intricate and customized exhaust system components is made possible by modern manufacturing techniques like laser welding and 3D printing. The advancements in these technologies present several growth opportunities for the market.
Exhaust system aftermarket sales are rising as well. To boost performance, improve sound, or attain a certain aesthetic, vehicle owners are changing the factory exhaust systems on their vehicles with aftermarket alternatives. Due to this tendency, the industry is growing as a whole, and aftermarket exhaust system sales are increasing.
The demand for automotive exhaust systems is being driven by the rising use of electric and hybrid automobiles. In contrast to electric vehicles (EVs), hybrid cars still use internal combustion engines, which require robust exhaust systems. Exhaust system demand is expected to rise as the market for electric and hybrid vehicles expands. Additionally, engine power, throttle responsiveness, and exhaust tone may all be improved with upgraded exhaust systems. The market’s growth is being aided by this desire for performance improvements.
Key Takeaways from Automotive Exhaust Systems Market Report:
- In 2018, the global market size stood at US$ 87,016.9 million.
- The market expanded at a CAGR of 5.3% from 2018 to 2022.
- In 2022, the global market size stood at US$ 106,983.6 million.
- The United States captured 17.8% of global market shares in 2022.
- India captured 6.0% of global market shares in 2022.
- China captured 6.3% of global market shares in 2022.
- The United Kingdom captured 5.8% of global market shares in 2022.
- The gasoline segment under engine type captured 78.3% of global market shares in 2022.
- The passenger cars segment acquired 72.7% of global market shares in 2022.
Key Players in the Automotive Exhaust Systems Market:
- Faurecia S.A.
- Tenneco Inc.
- Eberspächer Group
- Friedrich Boysen GmbH & Co. KG
- Benteler International AG
- Yutaka Giken Co. Ltd.
- Bosal International N.V.
- Harbin Airui Automotive Exhaust Systems Co. Ltd.
- Sejong Industrial Co. Ltd
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Automotive Exhaust Systems Market by Segmentation
By Product Type:
- Exhaust Manifold
- Muffler
- Catalytic Converter
- Oxygen Sensor
- Exhaust Pipes
By Vehicle Type:
- Passenger Car
- Light Commercial Vehicle
- Heavy Commercial Vehicle
By Engine Type:
- Gasoline
- Diesel
By Sales Channel:
- Original Equipment Manufacturer (OEM)
- Aftermarket
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
About Future Market Insights (FMI)
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