Automotive Exhaust Systems Market size to witness phenomenal growth by 2025. Shifting consumer preference toward electric vehicles will act as a restraint to the automotive exhaust systems market growth. Finding a cost-effective solution to regulate the internal temperatures for commercial vehicles is likely to pose a challenge for the industry participants. Excessive costs of lightweight components of these systems will further slowdown the industry growth.
Selective Catalytic Reduction (SCR) is another technology that has gained traction in the automotive exhaust systems market. It is a cost-reduction and fuel-efficient technology for emissions control. It reduces NOx level by 90%, Co & HC emissions by 50-90%, and PM emissions by 30-50%. Moreover, increasing usage of Gasoline Particulate Filter (GPF) and Diesel Particulate Filter (DPF) have opened growth opportunities for after treatment devices. Advent of Real Driving Emission (RDE) tests has also paved an opportunistic way for this industry. This test measures the NOx emissions from vehicles while driving and ensures low emissions over on-road conditions.
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Based on after treatment devices, the automotive exhaust systems market is classified into Diesel Oxidation Catalyst (DOC), Lean Nox Trap (LNT), Diesel Particulate Filter (DPF), Selective Catalytic Reduction (SCR), and Gasoline Particulate Filters (GPF). GPF is anticipated to grow at the fastest rate owing to its heavy adoption due to the latest emission regulations. Its implementation is necessary for controlling PM emission levels from the vehicles.
By fuel type, the automotive exhaust systems market is segmented into gasoline and diesel. Gasoline is expected to dominate the industry owing to its advantages over diesel. Moreover, this growth is attributed to its excessive usage in passenger vehicles in countries such as the U.S., China, and Japan. Diesel will grow at an exponential rate due to its heavy utilization in heavy commercial vehicles. Increasing demand for these vehicles in developed countries in Europe will further fuel the segment growth over the forecast timeframe.
Based on the vehicle type, automotive exhaust systems market can be classified into light commercial vehicles, heavy commercial vehicles, and passenger vehicles. Passenger vehicles is anticipated to dominate the industry over the forecast timeline owing to rising demand for automobiles across the globe. Heavy commercial vehicles will grow at a significant rate owing to their heavy penetration in developed European countries.
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Asia Pacific is expected to dominate the automotive exhaust systems market over the forecast time span owing to increased production of automobiles in emerging economies including China and India. China had a significant contribution of above 25% in automobile production in 2015. The presence of various OEMs will escalate the regional growth. Increasing demand in countries, such as South Korea and Japan, along with cheap labor and favorable working conditions will further fuel the industry growth in the region. Europe and North America are likely to showcase a significant growth rate over the forecast time frame owing to stringent regulations regarding emissions.
Friedrich Boysen GmbH, Faurecia, Tenneco, Eberspacher, Sango Co., Ltd., Yutaka Giken Co., Ltd., Sejong Industrial Co., Ltd., Futaba Industrial Co., Ltd., and Benteler International AG. are a few players in automotive exhaust systems market. Industry participants focus on adopting strategies including business expansions and partnerships to gain a competitive edge in the industry. For instance, in July 2017, Faurecia extended its Clean Mobility partnership for emissions control with Components Group and Dongfeng Motor parts. In October 2016, Eberspacher established an exhaust technology factory in Romania to produce exhaust silencers and catalytic converters.
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