Dublin, Jan. 02, 2024 (GLOBE NEWSWIRE) -- The "Global Automotive Exhaust Systems Market Size, Share & Trends Analysis Report by Component, Fuel Type (Gasoline, Diesel), Vehicle Type, (Passenger Car, Commercial Vehicles) by Region, and Segment Forecasts, 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The latest research report delving into the automotive exhaust systems market reveals significant growth prospects, with expectations for the market size to exceed USD 82.06 billion by the end of 2030. Expanding at a promising CAGR of 7.7% between 2023 and 2030, the market is anticipated to be fueled by stringent vehicle emission regulations and the rising integration of after-treatment devices. This surge in demand is further bolstered by the expanding sales of both passenger cars and commercial vehicles, alongside the increased preference for lightweight exhaust systems.
The study analyzes various segments of the market, emphasizing components and fuel types, including gasoline and diesel. It encapsulates insights into different vehicle types, such as passenger cars and commercial vehicles, while dissecting regional trends to forecast growth trajectories through to 2030.
An evolving landscape in automotive OEM strategies, characterized by innovations in lightweight materials, drivetrain efficiency, and improvements in aerodynamic designs, underscores the market's forward momentum. With a move away from traditional stainless steel and cast iron components to sophisticated, lightweight metal composites that can withstand high temperatures, industry players such as Tenneco Inc. are paving the way for enhanced fuel economy and more efficient thermal management.
The report also touches on the profound impact of the COVID-19 pandemic on the industry. The virus's ripple effects have caused significant disruptions, delayed shipments, and a subsequent decline in production and revenue. Despite these challenges, certain market players are looking towards recovery and revitalization in the coming years.
Regional Analysis and Segment Highlights
- The automotive exhaust systems market has seen Asia Pacific leading the demand, accounting for approximately 60% of the global market.
- With its rapid CAGR forecast at around 7.0% over the analysis period, this dominance can be attributed to the burgeoning vehicle production and sales in nations like India and China.
- Notably, India's automotive sector is poised for exponential growth, fueled by strategic government initiatives such as the Automotive Mission Plan 2016-2026.
- In terms of components, the muffler segment is projected to showcase vigorous growth, with expectations for the highest CAGR upwards of 8.6% from 2023 to 2030, driven by the demand for dual-exhaust systems in various vehicle segments.
- The gasoline fuel type segment maintains the lead as the predominant category in the market, a trend anticipated to continue throughout the forecast period.
- When it comes to vehicle types, the commercial vehicles segment is set to register the highest CAGR, hovering around 9.4%, spurred by escalating requirements within the transportation and logistics sectors.
- The Asia Pacific region remains the most lucrative market, promising continued preeminence over the upcoming years.
The comprehensive analysis embedded within this study renders a critical resource for stakeholders, investors, and participants in the automotive exhaust systems space, providing them with valuable insights and forecasting market dynamics through to 2030.
For more information about this report visit https://www.researchandmarkets.com/r/67ta2t
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
