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Automotive Exhaust System Market Trends

Report ID: GMI7490
Published Date: Jul 2024
Report Format: PDF

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Automotive Exhaust System Market Trends

Innovations, such as the development of Selective Catalytic Reduction (SCR) systems, Gasoline Particulate Filters (GPF), and advanced Exhaust Gas Recirculation (EGR) systems are driving market growth. Stricter emission regulations are pushing manufacturers to develop innovative exhaust system technologies. New catalyst formulations and designs enhance their effectiveness in converting harmful pollutants such as NOx and particulate matter into less harmful substances. Utilizing lightweight materials, such as high-strength alloys or composites, in exhaust system components reduces vehicle weight.

As the automotive industry prioritizes vehicle efficiency and emission reduction, leading companies are investing in innovative solutions to improve exhaust system performance. This focus on technological advancement is essential for complying with stringent regulatory standards and addressing the growing consumer demand for cleaner, more efficient vehicles. For instance, in January 2024, Tenneco, a key player in the market, announced the development of a new integrated thermal management system. It was designed to enhance the efficiency of exhaust systems in hybrid and conventional vehicles. It maintains optimal temperatures for efficient operation and emission control.

Growing concerns about air pollution and its impact on the environment are driving a positive shift in the automotive exhaust system market. The automotive sector is experiencing a major shift due to increasingly stringent environmental regulations targeting the reduction of vehicle emissions. Governments and regulatory bodies globally are enforcing tougher standards to combat pollution and encourage sustainable practices within the industry. For instance, in July 2023, the European Union (EU) implemented Euro 7, the most stringent emission regulations yet. This regulation mandates significant reductions in nitrogen oxide (NOx) and Particulate Matter (PM) emissions from vehicles.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of automotive exhaust system reached USD 36.9 billion in 2023 and is set to witness over 7.5% CAGR from 2024 to 2032, owing to the increase in vehicle production, especially in emerging economies worldwide.

Automotive exhaust system industry from the exhaust manifold segment held over 31% share in 2023, due to a focus on fuel efficiency and the need for compliance with stringent emission standards.

North America market accounted for 30% share in 2023, due to strong focus on developing new technologies, such as Selective Catalytic Reduction (SCR), Diesel Particulate Filters (DPF), and Gasoline Particulate Filters (GPF), to meet emission standards in the region.

Faurecia, Friedrich Boysen, BENTELER International, Tenneco Inc., Continental AG, Sejong Industrial, BOSAL, Yutaka Giken Company Limited, Eberspacher, and MagnaFlow, are some of the major automotive exhaust system companies worldwide.