The global exhaust systems market is poised to attain a value of USD 60 Billion by 2028, with a projected CAGR of over 8% during the forecast period. This growth is primarily driven by technological advancements, upcoming regulations for emission control, and the demand for better fuel efficiency. Governments worldwide are also taking measures to reduce carbon emissions, prompting manufacturers to improve their vehicles. However, noise pollution caused by exhaust systems remains a significant challenge that hinders market growth.
The global exhaust systems market is segmented by vehicle, fuel, after-treatment devices, components, and region. The passenger car segment is expected to drive the market during the forecast period, owing to an increase in vehicle production and sales. The selective catalytic reduction segment holds the dominant share of the market in the after-treatment devices segment, as it helps to reduce nitrogen oxide emissions by nearly 90% and is commonly used in diesel vehicles.
Regionally, the Asia Pacific region accounts for the major share of the global exhaust systems market. This is due to the high automobile production and low-cost labor in the region. Some of the major key players operating in the global exhaust systems market include Tenneco Inc., Bosal, Sejong Industrial Co., Ltd., Eberspächer, Futaba Industrial Co. Ltd., Benteler International AG, Sango Co.Ltd., Faurecia, Friedrich Boysen GmbH & Co. Kg., and Yutaka Giken Co. Ltd.
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Objective of the Study:
- To assess the demand-supply scenario of Exhaust Systems which covers production, demand and supply of Exhaust Systems market globally.
- To analyze and forecast the market size of Exhaust Systems in terms of volume and Value.
- To classify and forecast global Exhaust Systems based on vehicle type, fuel type, after- treatment devices, components and regional distribution.
- To identify drivers and challenges for global Exhaust Systems market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global Exhaust Systems market.
- To identify and analyze the profile of leading players involved in the manufacturing of global Exhaust Systems.
TechSci Research conducted both primary and exhaustive secondary research to perform this study. Firstly, an exhaustive list of Exhaust Systems manufacturers operating globally was prepared. Subsequently, primary research surveys were conducted with the identified companies, including primary calls and email responses. During the interviews, the respondents were also asked about their major competitors, enabling TechSci Research to include manufacturers that were not identified through secondary research limitations. Product offerings and regional presence of all major Exhaust Systems suppliers across the globe were analysed by TechSci Research.
To calculate the market size for global Exhaust Systems, TechSci Research used a bottom-up technique, recording manufacturers' volume sales data for different types of warehouse vehicles, and forecasting for future years. These values were sourced from industry experts and company representatives, and externally validated by analysing historical sales data of respective manufacturers to arrive at the overall market size. Multiple secondary sources, such as directories, company websites, annual reports, white papers, investor presentations, and financial reports, were also used by TechSci Research.
Key Target Audience:
- Exhaust Systems manufacturers
- Automobile Manufacturers
- Traders and distributors of automotive pressure sensors
- Raw material suppliers
- Transport authorities
- Research Institutes
- Associations, organizations, forums and alliances related to Exhaust Systems manufacturers.
- Industry associations
- Market research and consulting firm.
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Exhaust Systems manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
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About TechSci Research:
TechSci Research is a research-based management consulting firm providing market research and advisory solutions to its customers worldwide, spanning a range of industries. TechSci Research’s core values are value, integrity and insight. Led by a team of dynamic industry experts, TechSci Research provides its customers with high value market research and advisory services that helps them identify new market opportunities, growth engines and innovative ways to capture the market share. As a result, TechSci’s client leads rather than follow market trends. Not bound by legacy, TechSci’s cutting-edge research model leverages its decades of research knowledge and an increased use of technology as engines of innovation to deliver unique research value. Provided as an alternative to traditional market research, TechSci Research reports do not just deliver data and knowledge rather highlights the insights in a more usable and interactive format for its clients.
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