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.
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.
Additional
Highlights of the Report
·
Asia Pacific excluding Japan (APEJ) to remain the largest market for exhaust
system during the forecast period. The market in China remains highly
fragmented with thousands of small players vying for a share in the pie.
Moreover, some Chinese companies are aiming big and are now foraying into
overseas markets.
·
Harbin Airui Automotive Exhaust System Co., Ltd., Eberspacher, Benteler
International AG, Yutaka Giken Co., Ltd., Faurecia, Tenneco Inc., Sango Co.,
Ltd, Futaba Industrial Co., Ltd, Friedrich Boysen GmbH & Co. KG, and Sejong
Industrial Co., Ltd. are some of the key players operating in the global market
for exhaust system.
·
Many of the key market players are strongly emphasizing on development of
innovating products that are technologically advanced and meet the regulatory
and clients needs.
·
The growing trend of collaboration and strategic partnerships between carmakers
and auto component suppliers is likely to govern the market during the forecast
period.
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