The exhaust systems market is projected to grow at a CAGR of 8.45% during the forecast period, to reach a market size of USD 59.02 Billion by 2021.
Seattle, WA -- (SBWIRE) -- 07/10/2017 -- The report "Exhaust Systems Market by After Treatment Device (DOC, DPF, LNT, SCR & GPF), Fuel Type, Component (Manifold, Downpipe, Catalytic Converter, Muffler, Tailpipe, Sensor), and Region, Aftermarket by Component & After Treatment Device - Global Forecast to 2021", The exhaust systems market is primarily driven by the adoption of newer and stringent emission regulations from different regulatory bodies at a global level. The market is projected to grow at a CAGR of 8.45%, to reach USD 59.02 Billion by 2021.
Browse 96 market data tables and 72 figures spread through 202 pages and in-depth TOC on "Exhaust Systems Market - Global Forecast to 2021"
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"Catalytic Converters and Exhaust manifolds holds the largest share in exhaust systems market by components"
Catalytic converter and exhaust manifolds accounted to have the largest market for components. The growth can be attributed to the increased production of passenger cars and commercial vehicles around the world. The exhaust system manufacturers have been continuously investing heavily in R&D activities for the development of technologically advanced products in order to comply with the new guidelines. As a result, the global market for exhaust systems components is projected to accelerate significantly. Also, the increasing vehicle production across the globe will also trigger the growth of components market.
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"Gasoline Particulate Filters (GPF) is the fastest growing segment of the market after treatment devices for exhaust systems"
The introduction of gasoline direct injection (GDI) technology in passenger cars has been started from a while. The gasoline direct injection (GDI) engines emits more particulate matter (PM) content than Multi-Port Fuel Injection (MPI) engines. In order to meet the emission limits defined by European and U.S. regulatory bodies, the implementation of GPF devices becomes necessary in order to control the particulate matter (PM) level from the vehicles. For instance, the Euro 6 norms has been introduced to limit the particulate matter level from gasoline engines. Hence, the latest emission regulations requires lower gasoline emissions which will further fuel the market for GPF devices.
"Asia-Oceania: Largest and fastest growing market for exhaust systems"
The Asia-Pacific region has emerged as the leader in global vehicle production with the production growth of around 17% in past 5 years, and also becomes the leader in automotive exhaust systems manufacturing. China has been the world's largest automobile market in recent years. According to Organisation Internationale des Constructeurs Automobiles (OICA), China accounted almost 27% of global vehicle production in 2015. This could be owed mainly to the major automotive OEMs setting up their manufacturing plants in China. . In addition to that, the growing economies of countries like India and Indonesia are reasons that this region is able to maintain its leadership position in the market across globe.
The exhaust systems market is dominated by a few global players such as Faurecia (France), Tenneco Inc. (U.S.), Eberspächer (Germany), Futaba Industrial Co. Ltd. (Japan), Sango Co. Ltd (Japan), Benteler International AG (Austria), Friedrich Boysen GmbH & Co. KG (Germany), Yutaka Giken Co., Ltd. (Japan), Sejong Industrial Co., Ltd. (South Korea), and Bosal (Belgium).
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