Exhaust System Market by Component (Catalytic Converter, Exhaust Manifold, Exhaust Pipes), Fuel Type (Diesel, Gasoline), Vehicle Type - Global Forecast 2024-2030

Exhaust System Market by Component (Catalytic Converter, Exhaust Manifold, Exhaust Pipes), Fuel Type (Diesel, Gasoline), Vehicle Type - Global Forecast 2024-2030

The Exhaust System Market size was estimated at USD 43.05 billion in 2023 and expected to reach USD 45.53 billion in 2024, at a CAGR 6.14% to reach USD 65.38 billion by 2030.

An exhaust system is a crucial component in vehicles that manages the expulsion of gases and fumes produced by the engine during combustion. The main functions of an exhaust system are to direct the exhaust gases away from the engine compartment to the rear or side of the vehicle, reduce the environmental impact of harmful emissions, and minimize the noise generated by the engine's exhaust. The global growth in automobile production drives the demand for exhaust systems, which are critical for controlling vehicle emissions. In addition, stringent government regulations on fuel emissions compel manufacturers to develop advanced exhaust systems that adhere to environmental standards. These factors collectively contribute to the rising market growth for exhaust systems. However, the growth of the exhaust system market is hindered by several constraints and risks, including the high cost of advanced exhaust system technologies and the growing adoption of electric vehicles, which inherently lack traditional exhaust systems. The ongoing innovations in emission reduction and noise reduction technologies in the exhaust system industry address environmental and health concerns and offer significant growth opportunities for the exhaust system market.

Regional Insights

In the Americas, particularly in the United States and Canada, stringent environmental regulations drive the exhaust system market. These regulations aim to reduce vehicle emissions to meet air quality standards. As a result, there is a significant demand for advanced exhaust systems that can efficiently reduce emissions. In addition, the rise in automotive production influences market growth. The Asia-Pacific region, particularly in China, India, and Japan, is a rapidly growing market for exhaust systems due to increasing vehicle production and growing environmental concerns. China has implemented strict emission standards that require advanced exhaust systems. The exhaust system market in APAC is characterized by increased demand for both passenger cars and commercial vehicles, propelling the growth of the exhaust system market. In the EMEA region, the exhaust system market is highly influenced by the European Union's emission standards, which are among the strictest in the world. The push for lower-emission vehicles in Europe has led to innovations and new technologies in exhaust systems, including particulate filters and advanced catalytic converters. Moreover, the increase in diesel vehicle scrutiny, especially after various emissions scandals, has heightened the focus on exhaust system efficacy. The Middle Eastern and African exhaust system markets are also gradually adopting stricter emissions standards, which is expected to propel market expansion.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Exhaust System Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Increasing automobile production worldwide
Stringent government regulations and standards for fuel emission
Growing importance of exhaust after-treatment system

Market Restraints

Limitations and risks associated with exhaust system

Market Opportunities

Ongoing innovations related to emission reduction technologies and noise abatement
Advancements in material science and engineering for more efficient eco-friendly systems

Market Challenges

Increasing use of the zero-emission vehicle

Market Segmentation Analysis

Component: Widening demand for catalytic converters due to their crucial function in reducing harmful emissions from vehicles
Vehicle Type: Increasing demand in passenger cars to reduce emissions, improve fuel economy, and reduce noise

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Exhaust System Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Exhaust System Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Akrapovič Joins Forces with Ferrari in a Technical Collaboration for the 499P Hypercar

Akrapovič, the Slovenian exhaust manufacturer, has entered into a multi-year technical partnership with Ferrari. This collaboration will focus on the Ferrari 499P, a contender in the FIA World Endurance Championship’s Le Mans Hypercar (LMH) category. The partnership signifies a joint effort to enhance technical competencies, starting with one of the most prestigious racing platforms, aiming to leverage Akrapovič’s expertise in high-performance exhaust systems to boost the Ferrari 499P’s competitive edge.

Eberspaecher-AAPICO Joint Venture Launches New Exhaust Systems Facility in Thailand

Purem AAPICO, a collaboration between Eberspaecher and AAPICO Hitech, inaugurated a new manufacturing plant in Rayong, Thailand. Situated approximately 100 kilometers southeast of Bangkok, this facility is set to produce exhaust systems specifically for a prominent US-based automotive manufacturer's pick-up trucks. The new operation aligns with both companies' goals to enhance production capabilities and meet growing regional automotive demand.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Exhaust System Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Exhaust System Market, highlighting leading vendors and their innovative profiles. These include Adaptive Automotive BV, Advanced Group srl, Akrapovič d.d., Birchills Automotive, Borla Performance Industries Inc., Bosal Group, Capristo Exhaust, Eberspächer Group, Eisenmann Exhaust Systems by S&R Eisenmann GmbH, EOS Exhaust, Faurecia, Fennosteel Oy, Futaba Industrial Co., Ltd., Hirotec Corporation, Klarius Products Ltd., Magna International Inc., Magnaflow by Car Sound Exhaust System, Inc., REMUS Innovation GmbH, Sango Co. Ltd., Sejong Industrial Co. Ltd., Tanabe USA Inc., Tenneco Inc., Witzenmann GmbH, and Yutaka Giken Co., Ltd..

Market Segmentation & Coverage

This research report categorizes the Exhaust System Market to forecast the revenues and analyze trends in each of the following sub-markets:

Component
Catalytic Converter
Exhaust Manifold
Exhaust Pipes
Muffler
Oxygen Sensor
Fuel Type
Diesel
Gasoline
Vehicle Type
Commercial Vehicles
Motorcycles
Passenger Car
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year