Report on how AI is driving market transformation- The globalautomotive exhaust system market size is estimated to grow by USD 23.5 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over7.04% during the forecast period. Increasing use of lightweight and advanced alloysis driving market growth,with a trend towardsadoption of active exhaust systems by automotive OEMs. However,high cost associated with exhaust system poses a challenge. Key market players include Akrapovic d.d., Benteler International AG, Berkshire Hathaway Inc., Bosal Nederland BV, Eberspacher Gruppe GmbH and Co.KG, Eisenmann Exhaust Systems GmbH, Faurecia SE, Friedrich Boysen GmbH and Co. KG, Futaba Industrial Co. Ltd., Hexadex Ltd., Hirotec Corp., Honda Motor Co. Ltd., Klarius Products Ltd., Marelli Holdings Co. Ltd., Munjal Auto Industries Ltd., REMUS Innovation GmbH, Sango Co. Ltd., Sejong Industrial Co. Ltd., Tenneco Inc., and Thunder Exhaust System Co. Ltd.
https://mma.prnewswire.com/media/2512761/IRTNTR44780_bw_info_v4.jpg
AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View your snapshot now
Forecast period 2024-2028 Base Year 2023 Historic Data 2018 - 2022 Segment Covered Application (Passenger vehicles and Commercial vehicles), Fuel Type (Gasoline and Diesel), and Geography (APAC, Europe, North America, South America, and Middle East and Africa) Region Covered APAC, Europe, North America, South America, and Middle East and Africa Key companies profiled Akrapovic d.d., Benteler International AG, Berkshire Hathaway Inc., Bosal Nederland BV, Eberspacher Gruppe GmbH and Co.KG, Eisenmann Exhaust Systems GmbH, Faurecia SE, Friedrich Boysen GmbH and Co. KG, Futaba Industrial Co. Ltd., Hexadex Ltd., Hirotec Corp., Honda Motor Co. Ltd., Klarius Products Ltd., Marelli Holdings Co. Ltd., Munjal Auto Industries Ltd., REMUS Innovation GmbH, Sango Co. Ltd., Sejong Industrial Co. Ltd., Tenneco Inc., and Thunder Exhaust System Co. Ltd
Key Market Trends Fueling Growth
The automotive exhaust system market has seen significant advancements due to the increasing focus on reducing vehicle emissions worldwide. Modern exhaust systems effectively decrease emission levels, making contemporary vehicles quieter than their traditional counterparts. This development is met with resistance from certain customer segments, particularly high-performance car enthusiasts, who appreciate the distinctive engine sounds. As a response, there has been demand for aftermarket high-performance exhaust systems. Prominent automotive OEMs have addressed this issue by introducing active exhaust system technology for high-performance models. For instance, Ford Motor Company offers an active exhaust system for the Ford Mustang, allowing users to switch between quiet and moderately loud exhaust sounds. Similarly, BMW’s active sound technology in the BMW M5 creates a digitally recreated engine sound within the vehicle cabin. In the truck segment, the 2024 GMC Sierra 1500 introduces an Active Exhaust system for models equipped with the naturally aspirated 6.2L V8 L87 gasoline engine. This feature enables drivers to choose a driving mode that opens the exhaust system flaps, resulting in a more exhaust note from the engine. As the demand for sophisticated exhaust systems continues to rise, major OEMs are expected to expand their active exhaust system offerings to various models during the forecast period. This trend is anticipated to drive the growth of the automotive exhaust system market.
The Automotive Exhaust System market is witnessing significant growth due to increasing demand for efficient exhaust systems in various vehicle segments. Key components include catalytic converters, resonators, tailpipes, mufflers, oxygen sensors, and exhaust pipes. Catalytic converters reduce carbon emissions and toxic gases, such as nitrogen oxide, from gasoline and diesel passenger cars, commercial vehicles, buses, and coaches. Manufacturing, automobile, entertainment, restaurant industries, and automotive production rely on this market for raw materials like steel and aluminum. Rapid urbanization drives demand for efficient exhaust systems in metropolitan buses, cabs, utility trucks, and SUVs. Electric vehicles and hybrid vehicles, including motorcycles, are also adopting exhaust systems for vehicle electrification. Noise pollution concerns are driving innovation in exhaust systems for sedans, hatchbacks, and luxury vehicles. The market caters to diverse vehicle architectures, including gasoline, diesel, and tailpipes for various vehicle types like sedans, hatchbacks, SUVs, trucks, and buses. The market’s future lies in reducing emissions and improving fuel efficiency while addressing noise pollution.
Insights on how AI is driving innovation, efficiency, and market growth- Request Sample!
MarketChallenges
• The automotive exhaust system market is experiencing growth due to advancements in automotive technology, including the integration of automotive electronics and the use of advanced materials. These changes have resulted in safer, more energy-efficient, and fuel-efficient vehicles. However, the cost of modern exhaust systems has risen due to the increased use of precious metals like rhodium, platinum, and palladium in catalytic converters. The cost of these metals is driving up the price of exhaust system components, particularly catalytic converters, which can range from USD300 to USD2,000 depending on the vehicle model. Additionally, stricter regulations on vehicular emissions require larger amounts of precious metals in exhaust system components, leading to a limited supply and increasing prices. The use of three-way catalytic converters and advanced selective catalytic reduction (SCR) technology further adds to the cost of modern exhaust systems. These factors are expected to challenge the growth of the global automotive exhaust system market during the forecast period.
• The Automotive Exhaust System Market faces several challenges in the rapidly urbanizing world. Key components like mufflers, catalytic converters, oxygen sensors, and exhaust pipes require constant improvement to reduce noise pollution and comply with emissions regulations. Gasoline and diesel passenger cars, cabs, buses, utility trucks, and even heavy-duty trucks need efficient exhaust systems to minimize nitrogen oxide emissions. The shift towards electric vehicles, motorcycles, and hybrid vehicles brings new challenges. Raw materials like steel and aluminum must be sourced sustainably for exhaust systems. Vehicle architectures, including those for sedans, hatchbacks, SUVs, luxury vehicles, and tailpipes, need to be designed for optimal exhaust flow. Gasoline-powered vehicles and hydrogen-powered vehicles require different exhaust systems. Charging infrastructure and battery technology development for electric vehicles add complexity. The automotive sector must adapt to these challenges while ensuring affordability and reliability.
Insights into how AI is reshaping industries and driving growth-Download a Sample Report
Segment Overview
This automotive exhaust system market report extensively covers market segmentation by
— Application
— 1.1 Passenger vehicles
— 1.2 Commercial vehicles
— Fuel Type
— 2.1 Gasoline
— 2.2 Diesel
— Geography
— 3.1 APAC
— 3.2 Europe
— 3.3 North America
— 3.4 South America
— 3.5 Middle East and Africa
1.1Passenger vehicles- The Automotive Exhaust System market is experiencing significant growth due to increasing vehicle production and sales worldwide. Manufacturers focus on reducing emissions and improving fuel efficiency, driving demand for advanced exhaust systems. Key players invest in research and development to introduce innovative technologies, such as catalytic converters and selective catalytic reduction systems. The market is expected to continue expanding, driven by stringent regulations and consumer preference for eco-friendly vehicles.
Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022)
Research Analysis
The Automotive Exhaust System Market encompasses various components such as Catalytic Converters, Resonators, and Tailpipes, which play a crucial role in reducing carbon emissions and toxic gases from passenger cars, commercial vehicles, buses, and coaches. These systems help in minimizing the release of harmful substances like nitrogen oxide, primarily from diesel engines, contributing to improving air quality. The market is driven by the increasing demand for commercial vehicles, including light commercial vehicles, heavy commercial vehicles, buses and coaches, cabs, utility trucks, and buses, due to rapid urbanization and industrialization. The shift towards electric vehicles, hybrid vehicles, motorcycles, and vehicle electrification is also expected to impact the market dynamics. Passenger cars, including sedans, hatchbacks, SUVs, and luxury vehicles, also contribute significantly to the market growth. Tailpipes of various shapes and sizes are integral to these exhaust systems, ensuring optimal performance and emissions compliance.
Market Research Overview
The Automotive Exhaust System Market encompasses various components such as Catalytic Converters, Resonators, Tailpipes, Mufflers, Oxygen sensors, and Exhaust Pipes. These systems are essential for reducing Carbon emissions and toxic gases from Passenger cars, Commercial vehicles, Buses and Coaches, and Heavy Commercial Vehicles in the Manufacturing, Automobile, Entertainment, Restaurant, and other industries. Rapid urbanization and the increasing demand for Automotive Production have led to the development of efficient exhaust systems from raw materials like Steel and Aluminum. The market caters to various vehicle architectures, including Gasoline and Diesel-powered Passenger cars, Sedans, Hatchbacks, SUVs, Luxury vehicles, Trucks, Buses, Utility vehicles, and Motorcycles. The shift towards Electric vehicles, Hybrid vehicles, and Vehicle electrification is also driving market growth. Additionally, the market serves various sectors like Transportation, Logistics, Heavy duty trucks, E-commerce, and various types of vehicles such as Gasoline-powered vehicles, Hydrogen-powered vehicles, and Charging infrastructure for Battery technology. The market aims to minimize Noise pollution and regulate Nitrogen oxide emissions to ensure a cleaner environment.
Table of Contents:
1 Executive Summary2 Market Landscape3 Market Sizing4 Historic Market Size5 Five Forces Analysis6 Market Segmentation
— Application
— Passenger Vehicles
— Commercial Vehicles
— Fuel Type
— Gasoline
— Diesel
— Geography
— APAC
— Europe
— North America
— South America
— Middle East And Africa
7Customer Landscape8 Geographic Landscape9 Drivers, Challenges, and Trends10 Company Landscape11 Company Analysis12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email:media@technavio.comWebsite:www.technavio.com/
https://mma.prnewswire.com/media/2512762/Technavio_Logo.jpg
https://c212.net/c/img/favicon.png?sn=CG13014&sd=2024-09-24
View original content to download multimedia:https://www.prnewswire.com/news-releases/automotive-exhaust-system-market-to-grow-by-usd-23-5-billion-2024-2028-driven-by-lightweight-alloys-and-ai-powered-market-evolution—technavio-302256613.html
SOURCE Technavio
https://rt.newswire.ca/rt.gif?NewsItemId=CG13014&Transmission_Id=202409241737PR_NEWS_USPR_____CG13014&DateId=20240924
COMTEX_458127907/1005/2024-09-24T17:37:26