Published Date: 24-Jan-2022
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According to a new report Global Automotive Exhaust Systems Market, published by KBV research, The Global Automotive Exhaust Systems Market size is expected to reach $93.8507 billion by 2027, rising at a market growth of 10.9% CAGR during the forecast period.
The Diesel market is expected to witness a CAGR of 11.6% during (2021 - 2027). As the CO2 emissions released by diesel vehicle is comparatively less than gasoline vehicles, due to which, manufacturers are using specialized exhaust systems for these vehicles. Engines that run on diesel are more efficient than those that run on gasoline. Even though diesel has a higher carbon content than gasoline, efficient diesel engines release less carbon into the atmosphere.
The Muffler market is expected to witness a CAGR of 10.2% during (2021 - 2027). Since emission regulations are becoming more stringent, automotive OEMs are highly aiming to include effective exhaust systems to reduce noise pollution levels and eliminate toxic emissions. For example, in 2020, Hyundai unveiled Creta mid-SUV embedded with a dual-exhaust muffler system. The wall of the muffler is made in a way that it absorbs the pressure sound wave to cancel out noise pollution.
The Commercial Vehicles market is expected to witness a CAGR of 12.4% during (2021 - 2027). It is due to the growing demand for heavy trucks within the logistics and transportation sectors. In addition, logistics play an important role as the major end-use industry for commercial vehicles. There is a swift increase in the usage of trailers & trucks for the transportation of goods. The shifting lifestyles and rapid pace of urbanization have made people more inclined toward the delivery of goods and products at their doorstep.
The Asia Pacific market dominated the Global Automotive Exhaust Systems Market by Region in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $51783.7 million by 2027, growing at a CAGR of 11.5 % during the forecast period. The Europe market is expected to witness a CAGR of 10.4% during (2021 - 2027). Additionally, The North America market is expected to witness a CAGR of 9.3% during (2021 - 2027).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Tenneco, Inc., Yutaka Giken Company Limited (Honda Motor Company), Benteler International AG, Continental AG, Bosal International N.V., Eberspächer Gruppe GmbH & Co. KG, Faurecia (Groupe PSA), Futaba Industrial Co., Ltd., Friedrich Boysen GmbH & Co. KG, and Sejong Industrial Co., Ltd.
By Fuel Type
By Vehicle Type
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