(MENAFN- GlobeNewsWire - Nasdaq) The rising demand for advanced exhaust systems that can improve the sustainability, performance, and efficiency of vehicle exhaust primarily drives the aftermarket growth.New York, USA, Nov. 12, 2024 (GLOBE NEWSWIRE) -- market Overview:
According to Polaris Market Research's latest analysis, the aftermarket for automotive cold-end exhausts is on a growth trajectory. The automotive cold-end exhaust aftermarket size was valued at USD 6.15 billion in 2023 and is projected to grow to USD 8.13 billion by 2032. It is projected to exhibit a CAGR of 3.2% from 2024 to 2032.
Market Introduction:
What Are Automotive Cold-End Exhausts?
A cold-end exhaust is the part of a vehicle's exhaust system that helps reduce harmful emissions before releasing them into the environment. It consists of several components, including an oxidation catalyst, a particulate filter, and a selective catalytic reduction system. The oxidation catalyst oxidizes harmful pollutants, whereas the particulate filter is responsible for capturing and trapping particulate matter. The selective catalytic reduction system uses a chemical reaction to reduce nitrogen oxide emissions.
The automotive cold-end exhaust needs to balance several factors for efficient performance. It must fit within the vehicle's constraints and needs to adhere to the automobile's backpressure requirements. Also, the automotive cold-end exhaust must satisfy the automobile's sound quality targets. The rising emphasis on sustainability and growing environmental concerns have prompted the automobile industry to prioritize the reduction of vehicle emissions, thereby driving the automotive cold-end exhaust aftermarket demand.
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Report Scope and Attributes
| Report Attribute | Details |
| Market Value in 2023 | USD 6.15 billion |
| Market value by 2032 | USD 8.13 billion |
| CAGR | 3.2% from 2024 to 2032 |
| Base Year | 2023 |
| Historical Data | 2019–2022 |
| Forecast Period | 2024–2032 |
Key Report Highlights:
Several factors, including rising demand from consumers and manufacturers for advanced exhaust systems, boost the aftermarket expansion. The automotive cold-end exhaust aftermarket segmentation is primarily based on type, vehicle type, and region. The major regions covered in the research report are North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
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Top Aftermarket Participants:
The aftermarket for automotive cold-end exhausts has the presence of several players. These participants focus on upgrading their technologies to garner significant market shares. Besides, they are looking at strategic developments to gain a competitive edge over others.
The automotive cold-end exhaust aftermarket key players are:
BOSAL Calsonic Kansei Corporation DRiV Inc. Flowmaster, Inc. FORVIA Faurecia MagnaFlow Marelli Corporation Rogue Engineering Tenneco Inc.
Drivers and Opportunities:
Rising Installations : The automotive cold-end exhaust aftermarket growth is primarily fueled by the increasing use in modern hybrid vehicles, such as full hybrid cars and plug-in electric vehicles. Driving in electric mode results in lower exhaust system temperatures as compared to traditional vehicles. This, in turn, enhances efficiency and improves the driving experience. Growing Technological Advancements : Technological advancements have led to the development of active exhaust systems. These systems are capable of modifying the exhaust flow temperature in response to the driving circumstances. Also, advancements in noise reduction technology have given way to the development of improved muffler designs that can reduce noise without compromising functionality. Increasing Digitization : The digitization of systems has simplified the application of predictive maintenance algorithms. These algorithms can detect potential issues before they escalate, thereby reducing downtime and improving overall reliability.
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Challenges:
High Costs : The cost of installing a new exhaust system is based on several factors, including exhaust system type, vehicle model and year, and technician costs. Additionally, the replacement or upgradation of the entire exhaust system leads to increased expenses, impacting the automotive cold-end exhaust aftermarket revenue.
Regional Overview:
Asia Pacific : Asia Pacific accounted for the largest aftermarket share in 2023. The booming automotive sector and the presence of significant automotive markets in the region primarily fuel the regional growth. Besides, the rising number of cars needing efficient exhaust systems to reduce emissions further propels the aftermarket expansion. North America : North America is anticipated to register a healthy CAGR from 2024 to 2032. The automotive cold-end exhaust aftermarket sales in North America are driven by the growing adoption of administrative rules and the presence of strict regional automotive authority criteria about vehicle emissions in the region.
Aftermarket Segmentation:
By Type Outlook:
By Vehicle Type Outlook:
Passenger Cars Commercial Vehicle
By Region Outlook:
North America (US, Canada) Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia) Asia Pacific (Japan, China, India, Malaysia, Indonesia, Australia, South Korea) Latin America (Brazil, Mexico, Argentina) Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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About Polaris Market Research & Consulting, Inc:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.
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