Exhaust Manifold Market - Global Exhaust Manifold Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030 - (By Product Type Coverage, By Fuel Type Coverage, By Vehicle Type Coverage, By Sales Channel Coverage, By Geographic Coverage and By Company)
Global Automotive Exhaust Manifold Market to Reach US$10 Billion by 2030, Fueled by Demand for High-Performance Vehicles and Emission Control Regulations
The global automotive exhaust manifold market is on track to reach a valuation of US$10 billion by the end of 2030, driven by the surging demand for high-performance vehicles and the increasing stringency of government regulations related to emission control. The market is set to maintain moderate growth throughout the forecast period.
Market Highlights
The automotive exhaust manifold market is becoming increasingly significant in the automotive industry. This vital component plays a crucial role in ensuring the smooth operation of automobile engines by efficiently collecting exhaust gases from the engine's cylinders and directing them into the exhaust system.
Several key factors are contributing to the growth of this market, including:
• Demand for High-Performance Vehicles: The growing desire for high-performance vehicles is a key driver of the automotive exhaust manifold market. These vehicles require top-tier exhaust manifolds to ensure optimal engine performance and durability.
• Stringent Emission Control Regulations: Governments worldwide are imposing strict regulations to reduce vehicular emissions, driving the demand for efficient exhaust manifolds.
• Focus on Fuel Efficiency: Automotive manufacturers are emphasizing enhanced fuel efficiency, spurring demand for lightweight and efficient exhaust manifolds, which contribute to improved fuel economy.
Challenges
Despite the growth potential, the high cost associated with advanced exhaust manifolds, particularly those equipped with integrated catalytic converters and lightweight materials, presents a significant challenge. Additionally, the availability of inferior alternatives in the market may impact engine performance and durability.
Impact of COVID-19
The COVID-19 pandemic disrupted the global supply chain, affecting the production and distribution of automotive components, including exhaust manifolds. Reduced automobile demand during the pandemic also impacted the appetite for automotive exhaust manifolds. However, post-pandemic recovery is expected, driven by the increasing demand for high-performance vehicles and strict emission control regulations.
Market Opportunity
The rise of electric vehicles (EVs) is expected to create significant growth opportunities for the automotive exhaust manifold market. Despite the absence of internal combustion engines in EVs, exhaust manifolds are still required for noise reduction and cooling.
Key Segments
• Materials: Cast iron is expected to dominate the market due to its excellent thermal conductivity and durability, accounting for approximately 73% of the total market size.
• Fuel Type: Petrol remains the preferred fuel type, representing nearly 65% of the total market revenue by 2022, driven by its prevalence in passenger cars and light commercial vehicles.
• Vehicle Type: Passenger cars are set to claim the largest share of the market valuation, accounting for nearly 67% of the total exhaust manifold market revenue.
Regional Dominance
The Asia Pacific region is poised to maintain dominance in the global automotive exhaust manifold market, accounting for over 50% of the market share. China and India, with their thriving automotive industries, are major contributors to the region's growth. North America and Europe, driven by rigorous emission control regulations, collectively represent more than one-third of the global market size.
Competitive Landscape
The automotive exhaust manifold market is highly competitive, with established industry players and new entrants vying for market share. Manufacturers are focusing on innovating advanced exhaust manifolds with features like integrated catalytic converters and lightweight materials to meet the growing demand for high-performance vehicles.
Prominent players in the market include Faurecia, Futaba Industrial, Denso Corp, Benteler International AG, Katcon SA, Sango Co, Ltd, SPM Autocmp, Tenneco, Yutaka Giken co., and Friedrich Boysen Holding Gmbh.
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