Automotive Exhaust System Market Competitive Dynamics, Size, Global Outlook And Forecast To 2023
Automotive Exhaust System Market Overview
Market Research Future (MRFR) projects that the global market for automotive exhaust systems will grow at 7% CAGR during the forecast period (2017-2023).
Integration of technologies that reduces carbon emission is led to introduction of more efficient components. The arrival of SCR (selective catalytic reduction) catalytic converter is viewed as a stepping stone. The technology not only reduces the emission of nitrogen oxide but also helps in achieving greater fuel efficiency. For market players, focusing on the clean technologies and solution will be important.
Segmental Analysis
The segmental analysis of the Automotive Exhaust System Market has been conducted based on fuel type, component, after treatment device and vehicle type.
On the basis of fuel type, the market has been segmented into gasoline and diesel. On the basis of component, the market has been segmented into downpipe, muffler, manifold, tailpipe, catalyst converter and other. On the basis of after treatment device, the market has been segmented into Selective Catalytic reduction (SCR), Comprises Diesel Oxidation Catalyst (DOC), Lean NOx Trap (LNT), and Diesel Particulate Filter (DPF). On the basis of vehicle type, the market has been segmented into commercial vehicle and passenger vehicle. The later will continue to outperform the former throughout the assessment period. This is mainly owing to the higher sales of passenger cars.
Regional Analysis
Key regions discussed in the report include Asia Pacific (APAC), North America, Europe, Latin America and the Middle East & Africa (MEA). APAC will continue to be the most attractive market for automotive exhaust system during the forecast period. China’s growing dominance in the global automotive manufacturing sector is somewhat linked with the market growth in the region. The automotive industry has witnesses tremendous growth over time in APAC. Growth of economy and rapid industrialization are among the factors that have propelled the industry in the region. Moreover, Asia is also home to a number of automotive companies making it a major destination in global map of automotive manufacturing. Europe is also viewed as a major market for automotive exhaust system.
Competition Analysis
Some of the leading companies operating in the market include Tenneco Inc. (U.S.), Futaba Industrial Co. Ltd. (Japan), Sango Co. Ltd. (Japan), Friedrich Boysen GmbH & Co. Kg. (Germany), Sejong Industrial Co., Ltd. (South Korea), Faurecia SA (France), Benteler International AG. (Germany), Bosal International NV (Belgium), Eberspächer GmbH & Co. Kg. (Germany) and Yutaka Giken Co. Ltd. (Japan).
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