Portland, OR, March 30, 2020 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global automotive exhaust system market was pegged at $77.32 billion in 2018, and is projected to reach $130.16 billion by 2026, growing at a CAGR of 6.7% from 2019 to 2026.
Strict government rules & regulations for emission control, increase in automobile production, and increased adoption of nanotechnology in catalytic converter have boosted the growth of the global automotive exhaust system market. However, growing electric vehicles production and high-cost of automotive catalysts hinder the market growth. On the other hand, advancements in automotive catalysts and government initiatives in developing nations for emission reduction would open new opportunities in the future.
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The global automotive exhaust system market is divided on the basis of technology, fuel type, vehicle type, and geography. Based on technology, the market is categorized into diesel oxidation catalyst (DOC), diesel particulate filter (DPF), selective catalytic reduction (SCR), exhaust gas recirculation (EGR), gasoline particulate filter (GPF), and others. The SCR segment is anticipated to manifest the fastest CAGR of 12.0% during the study period. However, the GPF segment dominated the market in 2018, accounting for more than three-fifths of the market.
Based on fuel type, the market is bifurcated into gasoline and diesel. The gasoline segment held the largest share in 2018, contributing to more than three-fourths of the market. However, the diesel segment is estimated to portray the highest CAGR of 7.9% from 2019 to 2026.
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On the basis of vehicle type, the market is divided into passenger cars and commercial vehicles. Moreover, the global automotive exhaust system market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific is anticipated to register the highest CAGR of 7.7% from 2018 to 2026. Moreover, the region held the largest share in 2018, contributing to more than half of the market.
The global automotive exhaust system industry report includes an in-depth analysis of the major market players such as Umicore, Tenneco Inc., Johnson Matthey, BASF SE, BOSAL, Sejong Industrial Co., Ltd., Klarius Products Ltd., BENTELER International, Eberspächer, and Faurecia.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.