AUTOMOTIVE EXHAUST SYSTEMS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Automotive Exhaust Systems Market, By Component (Manifold, Exhaust Pipes, Muffler, Connector, and Oxygen Sensor), By Fuel Type (Gasoline, Diesel, and Alternate Fuels), By Vehicle Type (Passenger Cars, Light Commercial Vehicle, and Heavy Commercial Vehicle), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : Jun 2024
Code : CMI7080
Pages :155
Formats :
Excel and PDF
Industry : Automotive and Transportation

Market Concentration and Competitive Landscape

Automotive Exhaust Systems Market Concentration By Players

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Growth in Hybrid and Electric Vehicles

The rising environmental concerns and push for lower carbon mobility has accelerated the growth of hybrid electric vehicles and battery electric vehicles in the past few years. Although the share of hybrid electric vehicle (HEV) and electric vehicle (EVs) is still low in the overall passenger vehicle sales, their adoption rate is increasing steadily supported by government incentives and subsidies.

Unlike conventional internal combustion engine vehicles, hybrid, and electric vehicles do not require traditional bulky exhaust systems. However, they still need smaller customized exhaust components to direct the harmful gases from small Internal Combustion Engine (ICE) range-extenders and treat emissions conforming to stringent norms. This presents automotive exhaust system manufacturers with an opportunity to develop new innovative lightweight exhaust modules optimized for hybrid and electric architectures. It is also spurring continuous technology upgrade to produce exhaust parts with improved heat resistance, corrosion protection, and compact designs.

Key Players Insights