Exhaust system is an important automotive component found in almost all modern vehicles. However, growing need for auto technologies that can address the issues of carbon emission and environmental degradation is likely to reflect on the automotive application of exhaust systems in the future. Fact.MR in its latest report reveals that the global market for exhaust systems will reach a valuation of US$ 57,504.6 Mn by 2022-end, registering steady CAGR during the forecast period (2017-2022). Factors such as growing consumer awareness and introduction of new regulatory guidelines are expected to impact the growth of the global exhaust system market over the next couple of years.
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OEM – Top Sales Channel for Exhaust Systems
Based on sales channel, the OEM segment currently accounts for over 60% share of the market and this trend is likely to continue throughout the forecast period. In addition, the segment is expected to stand at US$ 37,722.8 Mn towards the end of 2022, expanding at 5% CAGR. As the overall auto industry undergoes massive transformation, OEMs will also need to adapt accordingly to leverage the available opportunities and avoid obsoleteness. Meanwhile, the aftermarket segment is expected to witness a relatively lower growth. By 2022-end, nearly US$ 19,781.8 Mn worth exhaust systems are estimated to be sold in the aftermarket.
By vehicle type, passenger car is projected to remain the most lucrative segment of the global exhaust systems market. Increased global demand for passenger cars is expected to support the growth of the market in 2017 and beyond. The LCV segment is expected to emerge as the second segment over 2022.
On the basis of fuel type, the diesel segment is projected to witness a relatively higher growth as compared to gasoline segment. By 2022-end, the diesel segment is expected to reach a market valuation of US$ 36,449.3 Mn. This is attribute to growing consumer preference for vehicles that run on diesel.
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This competition landscape of exhaust systems market enunciates the competitive dynamics in terms of crucial parameters such as relative market foothold, product offerings and differential strategies adopted by the key players operating in the exhaust systems market.
Some of the key players operating in the exhaust systems market reported in this study include
- Futaba Industrial Co. Ltd.
- Tenneco Inc.Ltd.
- Sejong Industrial Co. Ltd.
- Sango Co. Ltd
- Friedrich Boysen GmbH & Co. KG
- Benteler International AG
- Yutaka Giken Co.
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