Dublin, Aug. 09, 2021 (GLOBE NEWSWIRE) -- The "Global Exhaust System Market by After-Treatment Device (DOC, DPF, LNT, SCR, GPF), Vehicle Type (PC, LCV, Trucks, Buses, Ag Tractor, Construction & Mining Equipment), Aftermarket, Component, Sensor, Application, Sales Channel and Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The exhaust system (OE) market, by vehicle type is projected to grow from USD 36.9 billion in 2021 to USD 47.9 billion by 2026, at a CAGR of 5.3% during the forecast period.
The particle mass and particle number standards for diesel cars in Euro 6 are the same as those in Euro 5. Limits on particle mass emissions for diesel cars have been reduced by large amounts since the Euro 1 standards were introduced. The Euro 6 particle mass limits for diesel cars represent a reduction of 96% from Euro 1 limits. Euro 6 is a significant advancement over Euro 5 with regard to NOX limits.
The NOX limit declines from 0.18 g/km to 0.08 g/km, a reduction of 56%. Explicit NOX limits were introduced at the Euro 3 level, and in the Euro 6 standards, the NOX limit is 84% lower than the Euro 3 level. Emerging economies with higher vehicle production like India launched new standards of BS 6 emission standards on April 1, 2020; the diesel vehicle nitrogen oxide (NOx) limit was declined from 250 mg/Km in BS5 to 80 mg/km in BS6.
Countries adhering to the Paris Agreement for a reduction in vehicle emissions are planning to introduce more stringent emission regulations. Countries such as Brazil, Russia, and South Africa are planning to introduce emission regulations like Euro 5 and Euro 6 post-2023. This will result in more emission stringency and a reduction in vehicle weight.
Manufacturers are shifting toward exhaust after-treatment devices through advanced components and technologies to comply with the emission standards. Thus, this is expected to fuel the demand for exhaust systems in on-highway vehicles.
The Corporate Average Fuel Economy (CAFE) regulations have set standards related to fuel economy. These regulations mainly aim to lower fuel consumption (or improve fuel efficiency) of vehicles by lowering carbon dioxide (CO2) emissions, hence serving the twin purposes of reducing dependence on oil for fuel and controlling pollution.
The EPA and the Department of Transportation issued a proposed ruling that, if enacted, would roll back some of the goals set in 2012, in August 2018. This issue ruling-freezes the fuel economy goals to the 2021 target of 37 miles per gallon.
China has Phase V standards with an average fleet target of 4.0 L/100 km (NEDC) by 2025 for passenger vehicles produced in or imported to China, a 20% reduction from the previous 5.0L/100 km target in 2020. In India, mandates that the average corporate CO2 emission must be less than 130 gm per km till 2022 and below 113 gm per km thereafter as per the CAFE regulation.
Thus, the on and off-highway vehicle emission regulations combined with the stringent fuel economy regulations are expected to lead the automotive OEMs and exhaust system manufacturers to adopt and develop new components and systems as well as use after-treatment devices to minimize vehicle emissions and drive the exhaust system market during the forecast period.
The passenger car segment is expected to lead the vehicle type segment due to the increased global vehicle production
The production of these vehicles is growing rapidly in emerging countries such as China and India. In China and India, the production of diesel vehicles is significant as consumers prefer gasoline and diesel vehicles.
Automotive manufacturers are increasingly investing in these countries due to the availability of cheap labor, suitable infrastructure for production, and attractive government policies for the automotive industry. Key OEMs are Toyota, Volkswagen, Hyundai, General Motors, and Ford.
The passenger car market in the US is growing at a steady rate as consumers are switching to SUVs and pickup trucks. In the US, SUVs and pickup trucks are considered under LCVs.
The maximum share of passenger cars in global vehicle production is expected to drive this segment. According to OICA statistics, passenger cars accounted for 79% of vehicle production in 2020, which is anticipated to grow at a significant rate during the forecast period.
Asia Pacific is projected to be the largest regional market
Asia Pacific is estimated to be the largest OE market for exhaust systems and after-treatment devices during the forecast period, followed by Europe. The growth of the exhaust system market in Asia Pacific is mainly attributed to the increasing vehicle production and constant upgradations in emission norms, especially in countries such as China, Japan, and India.
In-depth interviews were conducted with CEOs, marketing directors, other innovation and strategy directors, and executives from various key organizations operating in this market.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities In the Exhaust System Market
4.2 Exhaust System Market, by After-Treatment Devices
4.3 Exhaust System Market, by Vehicle Type
4.4 Exhaust System Market, by Component
4.5 Exhaust System Market, by Sensor Type
4.6 Exhaust System Aftermarket, by Vehicle Type
4.7 Exhaust System OE Market, by off-Highway Vehicle
4.8 Exhaust System Market, by Application
4.9 Exhaust System Market, by Sales Channel
4.10 Exhaust System Market, by Region
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing vehicle emission is leading to stringent emission and fuel economy regulations
5.2.1.1.1 On-highway emission regulations
5.2.1.1.2 Off-highway (non-road mobile machinery) emission regulations
5.2.1.1.3 Fuel Economy Regulations
5.2.1.2 Growing penetration of after-treatment devices in Combinations
5.2.2 Restraints
5.2.2.1 Growing sales of clean vehicles
5.2.3 Opportunities
5.2.3.1 Lightweight emission systems
5.2.3.2 Growing demand for gasoline particulate filters (GPF) in GDI engines
5.2.3.3 Advanced exhaust heat recovery systems
5.2.4 Challenges
5.2.4.1 Impact of Covid-19 on Exhaust system market
5.2.4.2 Real drive emission test
5.3 Porter'S Five forces Analysis
5.4 Trade Analysis
5.5 Case Studies
5.6 Patent Analysis
5.7 Supply Chain Analysis
5.8 Exhaust System Market Ecosystem
5.9 Emission Regulations, by Vehicle Type
5.9.1 On-Road Vehicles
5.9.2 Non-Road Mobile Machinery
5.10 Fuel Economy Norms
5.10.1 US
5.10.2 Europe
5.10.3 China
5.10.4 India
5.11 Average Selling Price (Asp) Analysis
5.12 Exhaust System: Technical Analysis
5.13 Exhaust System Market Scenario
5.13.1 Realistic Scenario
5.13.2 Low Impact Scenario
5.13.3 High Impact Scenario
6 Recommendations by the Publisher
6.1 Asia Pacific Is Expected To Lead the Market for Exhaust Systems
6.2 Growing Demand for GDI Vehicles - Key Focus Areas
6.3 Conclusion
7 Exhaust System (OE) Market, by After-Treatment Device
7.1 Introduction
7.1.1 Research Methodology
7.1.2 Assumptions
7.1.3 Industry Insights
7.2 Diesel Oxidation Catalyst (DOC)
7.3 Diesel Particulate Filter (DPF)
7.4 Lean Nox Trap (LNT)
7.5 Selective Catalyst Reduction (SCR)
7.6 Gasoline Particulate Filter (GPF)
8 Exhaust System (OE) Market, by Vehicle Type
8.1 Introduction
8.1.1 Research Methodology
8.1.2 Assumptions
8.1.3 Industry Insights
8.2 Passenger Cars
8.3 Light Commercial Vehicles
8.4 Trucks
8.5 Buses
9 Exhaust System Aftermarket, by Vehicle Type
9.1 Introduction
9.1.1 Research Methodology
9.1.2 Assumptions
9.1.3 Industry Insights
9.2 Light-Duty Vehicles (LDVs)
9.3 Heavy-Duty Vehicles (HDVs)
10 Exhaust System (OE) Market, by Component
10.1 Introduction
10.1.1 Research Methodology
10.1.2 Assumptions
10.2 Sensors
10.3 Catalytic Converter
10.4 Downpipe
10.5 Manifold
10.6 Muffler
10.7 Tailpipe
10.8 Hangers
11 Exhaust System (OE) Market, by Sensor Type
11.1 Introduction
11.1.1 Research Methodology
11.1.2 Assumptions
11.2 Nox Sensors
11.3 Oxygen Sensors
11.4 Temperature Sensors
11.5 PM Sensors
12 Exhaust System Market, by off-Highway Vehicle
12.1 Introduction
12.1.1 Research Methodology
12.1.2 Assumptions
12.1.3 Industry Insights
12.2 Agriculture Tractor
12.3 Construction Equipment
12.4 Mining Equipment
13 Exhaust System Market, by Application
13.1 Introduction
13.1.1 Research Methodology
13.1.2 Assumptions
13.2 On-Highway Vehicles
13.3 Off-Highway Vehicles
14 Exhaust System Market, by Sales Channel
14.1 Introduction
14.1.1 Research Methodology
14.1.2 Assumptions
14.2 Aftermarket
14.3 OEM
15 Exhaust System Market, by Region
16 Competitive Landscape
17 Company Profiles
17.1 Key Players
17.1.1 Tenneco Inc.
17.1.2 Faurecia
17.1.3 Eberspacher
17.1.4 Continental AG
17.1.5 Futaba Industrial Co., Ltd.
17.1.6 Sango Co., Ltd.
17.1.7 Friedrich Boysen GmbH & Co. Kg
17.1.8 Yutaka Giken Company Limited
17.1.9 Sejong Industrial Co., Ltd.
17.1.10 Bosal
17.2 Other Players
17.2.1 Marelli Holdings Co., Ltd.
17.2.2 Hirotec Corporation
17.2.3 Benteler International
17.2.4 Katcon Global
17.2.5 Vibracoustic Se
17.2.6 Asmet
17.2.7 Dinex A/S
17.2.8 Magnaflow
17.2.9 Grand Rock Co., Inc.
17.2.10 Eminox
17.2.11 European Exhaust and Catalyst Ltd
17.2.12 Crefact Corporation
17.2.13 Sharda Motor Industries Ltd.
17.2.14 Eisenmann Exhaust Systems
17.2.15 Denso
17.2.16 Harbin Airui Emissions Control Technology Co., Ltd.
17.2.17 Chongqing Height Automobile Exhaust System Co Ltd
18 Appendix
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