In 2019, the demand for the exhaust system is valued at USD 84.8 billion and is expected to cross USD 128.2 billion by 2025, with a CAGR of 6.08 percent. Rising vehicle production, continuous upgrades in emissions control, continuing emission-related regulatory compliance in developing countries, and technical partnerships between OEMs and Tier I companies are expected to fuel the exhaust system market.
Exhaust machine suppliers have made concerted attempts to amplify their market position. However, exhaust device suppliers still look forward to creating solid foundations in the off-road sector in order to draw new buyers.
Superior monitoring capabilities related to leakage, temperature accuracy, and other critical criteria have been implemented by a few prominent companies in the exhaust systems industry. This not only encourages exhaust device producers to improve their market boundaries, but also enables them to take advantage of new opportunities.
Exhaust System Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 84.8 billion|
|Growth Rate||CAGR of 6.08% during 2021-2028|
|Segment Covered||After-treatment device, Vehicle type, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||ALPLA-Werke Alwin Lehner GmbH & Co KG, Amcor Limited, DS Smith Plc, Berry Plastics Corporation, Klöckner Pentaplast, Plastipak Holdings, Inc., Reynolds Group Holdings, RPC Group Plc, Silgan Holdings, Inc. and Sonoco Products Business|
Key Segments of the Global Exhaust system Market
After-treatment device Overview, 2018-2028 (USD Billion) (Tons)
Vehicle type Overview, 2018-2028 (USD Billion) (Tons)
- Passenger type
- Construction equipment
- Agriculture tractor
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the
- Exhaust system market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the Exhaust system market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the Exhaust system industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on type, and application. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the Exhaust system market. The report will benefit: Every stakeholder involved in the Exhaust system market.
- Managers within the Exhaust system industry looking to publish recent and forecasted statistics about the Exhaust system market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of Exhaust system market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
The increased emphasis on the production of technology to conform with international pollution standards is projected to have an impact on the automotive industry's use of exhaust systems. The growth of the global demand for exhaust systems is influenced by factors such as regulatory obligations, growing customer perception, and the advent of automobile companies that use innovative and environmentally sustainable technology. It is expected that the passenger car category will lead the demand for exhaust systems. The growth in passenger car sales is contributing to an increase in the market for exhaust system units. In emerging countries such as China and India, OEMs are concentrating on exploring the passenger car market as they have less vehicle presence than developed economies. Manufacturers of exhaust systems are now focused on increasing their performance to satisfy the increasing demand for these systems.
The motor, exhaust manifold, exhaust valve, exhaust pipe, silencer, muffler, and the vehicle tailpipe are the main components of an exhaust system. For the emission of exhaust gases from an internal combustion engine, vehicle exhaust systems are primarily used.
After-treatment device Segment
During the forecast period, the SCR segment is projected to be the largest contributor to the exhaust system market by after-treatment systems.
The SCR technology has advantages, including an almost 90% drop in nitrogen oxide (NOx) relative to LNT, and is thus often preferred in diesel vehicles across the globe. Due to ongoing emission requirements such as Euro 6 and Tier 3 respectively, SCR has a maximum installation rate in European and North American countries. Europe has a high rate of diesel passenger vehicles and LCVs being adopted. Thus, relative to other regions such as Asia Oceania and North America in these vehicle styles, it has a higher implementation rate of SCRs. In addition, developing countries' new trucks and buses must tolerate the allowable NOx limits and should be equipped with SCRs. In addition, due to the current and upcoming strict emission standards in developing countries such as China, India and Thailand, demand for SCRs is projected to increase dramatically globally across all forms of diesel vehicles by 2022.
Vehicle type analysis
The Light-Duty Vehicle (LDV) is expected to be the fastest rising aftermarket for passenger cars and LCVs over the projected timeframe. In LDV, because of the overall fleet of vehicles, passenger cars hold the highest market share for after-treatment devices. In 2017, the contribution of passenger cars to the total vehicle fleet stood at almost 70-75 percent, which is projected to rise at a substantial pace in the coming years. On both cars, pollution standards are now becoming more strict. Around Euro 4 and Euro 6, the amounts of PM and NOx were substantially reduced. This spurred the implementation of DOC, DPF, and SCR in older cars, which further stimulated the need for passenger car after-treatment equipment in the aftermarket. In the other hand, the pollution requirements for LCVs are getting stricter together with passenger vehicles, which further leads to the introduction of after-treatment devices.
The global Exhaust System Market has been segmented in the regions of North America, Asia Pacific, Europe and the rest of the world. The Asia Pacific region is expected to be the fastest growing sector in the worldwide exhaust device industry due to the advent of emerging nations such as China, India and Japan. Because of the high demand for passenger and commercial vehicles, this sector is also the focus of several giants, as well as the target of expanding their operations in the Asia Pacific region.
Europe is expected to be the second-largest market for exhaust systems. The European Commission and various countries are taking different steps. The European emission standards are stringent and thus the OEMs are making substantial efforts to conform with the emission specifications of the benchmark. Thanks to advances in diesel technologies and the availability of low Sulphur diesel, the market for diesel vehicles in the region is rising rapidly.