New York, United States , Aug. 13, 2024 (GLOBE NEWSWIRE) -- The Global Exhaust System Market Size is to Grow from USD 31.68 Billion in 2023 to USD 44.3 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 3.41% during the projected period.
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The car's exhaust system collects exhaust from the cylinders, cleans the exhaust by filtering out pollutants, reduces noise, and discharges the purified exhaust away from the occupants of the vehicle. The exhaust system may have one or two channels, depending on the engine. Careful consideration of the flow resistance is necessary to reduce the negative effects of exhaust backpressure on engine performance. For the exhaust system to function at its best, it must be built completely. This suggests that the design engineers need to align their components with the specific vehicle and engine. Furthermore, the purpose of the exhaust system is to remove hot, burnt gases from the combustion chambers of diesel engines and move them to distant areas so they can disperse into the atmosphere without posing a threat to human health or the environment. It consists of a muffler, exhaust pipework, an exhaust manifold, and occasionally an expansion and vibration beneath. Furthermore, prevents potentially dangerous exhaust fumes from returning to the prime mover air intake, the driver air intake, and other HVAC (heating, ventilation, and air conditioning) systems. Besides that, it keeps nearby flammable items from catching fire or significantly affecting the functioning of other nearby equipment. However, the market for exhaust systems is severely constrained by the high cost of developing and implementing cutting-edge emission control technologies, which are necessary to comply with strict environmental requirements.
Browse key industry insights spread across 201 pages with 110 Market data tables and figures & charts from the report on the Global Exhaust System Market Size, Share, and COVID-19 Impact Analysis, By Fuel Type (Diesel and Gasoline), By Vehicle Type (Commercial Vehicles and Passenger cars), By Component (Exhaust Manifolds, Catalytic Converters, Mufflers, Exhaust Pipes, and Oxygen Sensors), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The gasoline segment is anticipated to hold the greatest share of the global exhaust system market during the projected timeframe.
Based on the fuel type, the global exhaust system market is divided into diesel and gasoline. Among these, the gasoline segment is anticipated to hold the greatest share of the global exhaust system market during the projected timeframe. The gasoline exhaust system's main goal is to reduce the amount of nitrogen oxides the engine emits during operation, which usually results in high combustion temperatures. Large amounts of NOx are created when combustion temperatures become close to that of an adiabatic flame. The EGR system reduces the production of NOx by circulating small amounts of exhaust gases into the intake manifold, where they mix with the incoming air/fuel charge.
The passenger cars segment is anticipated to hold the greatest share of the global exhaust system market during the projected timeframe.
Based on the vehicle type, the global exhaust system market is divided into commercial vehicles and passenger cars. Among these, the passenger cars segment is anticipated to hold the greatest share of the global exhaust system market during the projected timeframe. Growing sales of passenger cars in developing countries are expected to fuel the market segment's growth. Strong market growth is also predicted for the light and heavy commercial vehicle segments throughout the forecast timeframe. The growth of this market segment is expected to be propelled by automobile manufacturers' progress in diesel engine exhaust system technology to reduce emissions of NOx and fine particles throughout the projected period.
The exhaust manifolds segment is predicted for the largest revenue share in the exhaust system market during the estimated period.
Based on the components, the global exhaust system market is divided into exhaust manifolds, catalytic converters, mufflers, exhaust pipes, and oxygen sensors. Among these, the exhaust manifolds segment is predicted for the largest revenue share in the exhaust system market during the estimated period. The car exhaust manifold is a vital component of the engine system that is necessary to keep the engine operating efficiently. Collecting and directing exhaust gases that have burned in the engine cylinders in the direction of the exhaust pipe is its main function. This system's pipes and tubes connect the exhaust system to the internal combustion chamber.
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Asia Pacific is expected to hold the largest share of the global exhaust system market over the forecast period.
Asia Pacific is expected to hold the largest share of the global exhaust system market over the forecast period. The region's market is expanding due in part to growing urbanization, rising GDP, and rising personal disposable income. The lower labor and resource costs in this region are also attracting a lot of industries to locate manufacturing facilities, which will likely hasten the market's expansion. For example, the well-known deep-drawing specialist STUKEN intends to expand its global reach by establishing a new plant in Pune, India, in January 2024. India joins the company's existing locations in Germany, the USA, the Czech Republic, and China as its sixth production center. The family enterprise enjoys global recognition.
Europe is predicted to grow at the fastest pace in the global exhaust system market during the projected timeframe. Strict government emission regulations in this region are forcing automakers to develop cutting-edge exhaust systems. It is projected that the growing use of low-emission vehicles in this area, along with the presence of significant major companies, will fuel the market's growth in the surrounding area.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Exhaust System Market include BASF SE, Benteler International AG, Bosal International N.V., Continental AG, Faurecia S.A., Friedrich Boysen GmbH & Co. KG, Futaba Industrial Co. Ltd., Harbin Airui Automotive Exhaust Systems Co. Ltd., Johnson Matthey, Klarius Products Ltd, Sango Co., Ltd., Sejong Industrial Co., Ltd., Tenneco, Inc., Umicore, Yutaka Giken Company Limited, and Others.
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Recent Developments
- In July 2024, The BMW Group's first paint factory now uses electrical power for exhaust purification. Owing to a unique approach, it is now possible to create the high temperatures needed for the thermal purification of exhaust from paint booths and drying areas using electricity. This makes it possible to keep manufacturing without requiring natural gas.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Exhaust System Market based on the below-mentioned segments:
Global Exhaust System Market, By Fuel Type
- Diesel
- Gasoline
Global Exhaust System Market, By Vehicle Type
- Commercial Vehicles
- Passenger Cars
Global Exhaust System Market, By Component
- Exhaust Manifolds
- Catalytic Converters
- Mufflers
- Exhaust Pipes
- Oxygen Sensors
Global Exhaust System Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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