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New York, Oct. 04, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report 'Automotive Exhaust Systems Global Market Report 2022' -
, Calsonic Kansei Corporation, DENSO CORPORATION, Eminox, European Exhaust and Catalyst Ltd, FennoSteel, Futaba Industrial, and Grand Rock Co. Inc.
The global automotive exhaust systems market is expected to grow from $34.61 billion in 2021 to $37.26 billion in 2022 at a compound annual growth rate (CAGR) of 7.7%. The automotive exhaust systems market is expected to reach $46.90 billion in 2026 at a CAGR of 5.9%.
The automotive exhaust systems market consists of sales of automotive exhaust systems by entities (organizations, sole proprietors, partnerships) that refer to a system that collects and exhaust gases from a vehicle by removing harmful substances.It also reduces the level of noise and discharges filtered exhaust away from the occupants of the vehicle.
Performance exhaust systems help to maintain optimal air levels inside the vehicle's engine. These optimal levels then decrease the need for the engine to consume extra fuel to compensate for dirty air levels.
The main technologies involved in automotive exhaust systems include diesel oxidation catalyst (DOC), diesel particulate filter (DPF), Selective Catalytic Reduction (SCR), Exhaust Gas Recirculation (EGR), Gasoline Particulate Filter (GPF), and other technologies.The diesel oxidation catalyst is an exhaust after-treatment device used to reduce emissions from diesel-powered vehicles.
These systems are used in passenger cars, light commercial vehicles, and trucks and bus.
Asia Pacific was the largest region in the automotive exhaust systems market in 2021. The regions covered in the automotive exhaust systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The automotive exhaust systems market research report is one of a series of new reports that provides automotive exhaust systems market statistics, including automotive exhaust systems industry global market size, regional shares, competitors with an automotive exhaust systems market share, detailed automotive exhaust systems market segments, market trends and opportunities, and any further data you may need to thrive in the automotive exhaust systems industry. This automotive exhaust systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The increase in automobile production is driving the automotive exhaust systems market.Rapid growth in disposable income among individuals in both developing and developed countries and growing demand for a personal vehicle for daily commute to work has contributed to rapid growth in demand for automobiles across the globe.
The rapid growth in demand for automobiles is expected to the boost utilization of automotive exhaust systems, as they are a vital component in the manufacturing of automotive vehicles.For instance, in 2021, according to OICA (Organisation Internationale des Constructeurs d'Automobiles), around 80 million cars including passenger vehicles and commercial vehicles were produced, a 3% increase from 2020.
Therefore, increasing automobile production is expected to boost demand for automotive exhaust systems during the forecast period.
Establishment of new production plants a key trend gaining popularity in the automotive exhaust systems market.The companies operating in automotive exhaust systems are focused on building new manufacturing plants to expand thier business reach new emerging market.
For instance, in March 2021, Esslingen, a Germany-based automotive supplier introduced a new plant for exhaust technology in Ramos Arizpe close to Saltillo, Mexico.The new Mexican plant improves the efficiency of the production chain in North America.
Esslingen can swiftly and directly provide clients right there.The production site is close to a number of significant multinational automakers.
Due to its proximity to the Pan-American Highway, Saltillo has fantastic transportation and traffic connections.
In August 2021, Faurecia SE, a France-based automotive equipment supplier acquired Hella KGaA Hueck & Co., for an amount of $5.68 billion. With this acquisition, the two companies transformed to create the 7th largest global automotive supplier and a highly advanced technology portfolio. Hella KGaA Hueck & Co., is a German-based company that develops and manufactures lighting, electronic components, and systems for the automotive industry.
The countries covered in the automotive exhaust systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
Read the full report:
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