Automotive Exhaust System Market Share 2020 - Overview

Posted by sagark on March 13th, 2020

Automotive Exhaust System Market Share Overview

The global automotive exhaust systems market is expected to rise at a CAGR of 7% over the forecast period from 2018 to 2023, according to the latest research report released by Market Research Future (MRFR). The global automotive exhaust systems market is expected to be driven by the growing automotive industry and the growing attention being paid to the environmental viability of automobiles, which has resulted in a growing demand for catalytic converters.

Over the years, vehicles and automotive components have undergone various technological evolutions. This is partly owing to the changing norms and efforts towards making that eco-friendly. The exhaust system has also had its fair share of evolution and remains integral part of modern automotive. Emission guidelines set by government bodies continue to impact the design and efficacy of automotive component. OEMs all over the world are focusing on reduces emission of carbon dioxide from vehicles. Moreover, increased level of awareness among consumers coupled with the emergence of electric and hybrid cars is expected to influence the automotive sector in the forthcoming years.

Segmental Analysis

The segmental analysis of the Automotive Exhaust System Market Share has been conducted based on fuel type, component, after treatment device and vehicle type.

On the basis of fuel type, the market has been segmented into gasoline and diesel. On the basis of component, the market has been segmented into downpipe, muffler, manifold, tailpipe, catalyst converter and other. On the basis of after treatment device, the market has been segmented into Selective Catalytic reduction (SCR), Comprises Diesel Oxidation Catalyst (DOC), Lean NOx Trap (LNT), and Diesel Particulate Filter (DPF). On the basis of vehicle type, the market has been segmented into commercial vehicle and passenger vehicle. The later will continue to outperform the former throughout the assessment period. This is mainly owing to the higher sales of passenger cars.

Regional Analysis

Key regions discussed in the report include Asia Pacific (APAC), North America, Europe, Latin America and the Middle East & Africa (MEA). APAC will continue to be the most attractive market for automotive exhaust system during the forecast period. China’s growing dominance in the global automotive manufacturing sector is somewhat linked with the market growth in the region. The automotive industry has witnesses tremendous growth over time in APAC. Growth of economy and rapid industrialization are among the factors that have propelled the industry in the region. Moreover, Asia is also home to a number of automotive companies making it a major destination in global map of automotive manufacturing. Europe is also viewed as a major market for automotive exhaust system. Presence of a vast automotive manufacturing sector puts Europe at an advantageous position. European OMEs are expected to remain focused on product viability and development of products that comply with European Commission’s emission regulations. EU’s efforts to set a global benchmark for emission levels is prompting OMEs to invest in development of environmentally sustainable products.

Global Automotive Exhaust System Market Share: Competition Analysis

Some of the leading companies operating in the market include Tenneco Inc. (U.S.), Futaba Industrial Co. Ltd. (Japan), Sango Co. Ltd. (Japan), Friedrich Boysen GmbH & Co. Kg. (Germany), Sejong Industrial Co., Ltd. (South Korea), Faurecia SA (France), Benteler International AG. (Germany), Bosal International NV (Belgium), Eberspächer GmbH & Co. Kg. (Germany) and Yutaka Giken Co. Ltd. (Japan).

Access Full Report @  https://www.marketresearchfuture.com/reports/automotive-exhaust-system-market-1943