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Exhaust System Market by After-Treatment Device, Aftermarket, Vehicle Type, Component And Region - Global Forecast to 2025

Exhaust System Market: Global Forecast until 2025

  • October 2018
  • 191 pages
  • ID: 4734940
In this report:
The South Korean exhaust system market, by after-treatment device, in terms of volume, is estimated to be ##,##.## thousand units in 2018 and is expected to reach ##,##.## thousand units by 2025, at a CAGR of ##.##%.
In terms of volume, the Asia Oceania market is expected to be the largest by 2025 with ##.## million units from ##.## million units in 2018 and is estimated to grow at a CAGR of ##.##% during the forecast period.

Summary

Table of Contents

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The growing vehicle production and stringency in emission norms will drive the exhaust system market.

The exhaust system market is expected to be $84.80B in 2018 and is projected to extend $128.20B by 2025, at a compound annual growth rate (CAGR) of ~6.1 percent. The industry demand for exhaust systems is influenced by the rising vehicle production, stringency in emission norms, and technological partnership between Original equipment manufacturers and Tier I actors. On the other hand, growing sales of BEVs and the high cost of lightweight exhaust components are acting as restrains for the exhaust system market.

Catalytic converter market is projected to have the biggest market share in exhaust system market by component.

The catalytic converter accounted the biggest share for the exhaust system market, by component.The rise can be accredited to the increased production of passenger cars and commercial vehicles around the globe.

The catalytic converter is a standard fitment across all vehicle categories, and thus, the rise of catalytic converter is directly proportional to the increase in vehicle production.Also, exhaust system manufacturers have been continuously investing in Research&development activities to expand technologically advanced products that comply with new guidelines.

As a result, the three-way type is mostly preferred catalytic converter as it minimizes critical gaseous pollutants through a single system and becomes cost effective among the other types. Therefrom, automotive OEMs are offering this three-way catalytic converter in the vehicles to meet the stringent emission standards that spur the sector demand for this type in the next years.

Agricultural tractor is intended to be the biggest and quickest increasing market for off-highway vehicle exhaust system.

Agriculture tractors hold the maximum share in the global off-highway vehicle segment.The market demand for agricultural tractors is influenced by rising mechanization rate, increasing overall population, shortage of skilled farm labor, growing labor cost, and the increasing need for operational efficiency and profitability.

With the increasing demand for tractors, the industry demand for different after-treatment devices will also grow simultaneously.DOC and DPF devices are fitted in most of the agricultural tractors to comply with off-highway vehicle emission norms.

The deployment of these devices is more prominent in Europe and North America continent, and will eventually boost up in the Asian countries also. Alternatively, deployment of SCRs is dependent on the engine capacity. For example, <200 kW agricultural tractors are mostly equipped with DOC and DPF, because >200 kW tractors are equipped with DOC, DPF, and SCR. Therefore, with the increasing demand for agricultural tractors and the governments' push toward lower emissions would drive the exhaust system market in the next years.

Asia Oceania is forecasted to be the most important in exhaust system market during the outlook period.

The exhaust system market in Asia Oceania is anticipated to be the biggest during the forecast period.The main driving factors are huge vehicle production and upcoming emission norms in developing countries including China and India (IN).

China (CN) and India (IN) are currently following China IV and BS IV respectively, and are planning to launch China VI and BS VI directly which will fuel the increase of several after-treatment devices. Nevertheless, the adoption rate of after-treatment devices is comparatively low against the European countries, the USA, and Canada (CA).

Comprehensive interviews were managed with CEOs, marketing directors, innovative projects and technology directors, and executives from numerous main institutions operating in the exhaust system marketplace

• By Company category: Tier I - 69.0 percent, Tier II - 21.0 percent, and Original equipment manufacturers - 10.0 percent

• By Description: C-suite - 45.0 percent, D-suite - 39.0 percent, Other - 16.0 percent

• By Area: North America (NA) - 33.0 percent, Europe (EU) - 48.0 percent, Asia Oceania - 19.0 percent

Note: Others includes sales managers, marketing managers, and product managers.

Note: Original equipment manufacturers are vehicle manufacturers, Tier-1 firms are exhaust system manufacturer, and Tier-2 firms are exhaust component & after-treatment device manufacturer.

Some of the main actors in the exhaust system market are Faurecia, Tenneco, Continental, Eberspächer, Futaba Industrial, Benteler International, Friedrich Boysen, Yutaka Giken, Sejong Industrial, and Bosal. The research includes an detailed competitive study of these top actors in the exhaust system market, with their company descriptions, SWOT review of the top 5 firms, latest developments, and key industries strategies.

Segment Research

The exhaust system market has been split on the basis of after-treatment device (DPF, DOC, LNT, SCR, and GPF), component (exhaust manifold, downpipe, catalytic converter, muffler, sensors, and tailpipe), aftermarket (light-duty vehicle and heavy-duty vehicle), vehicle type (passenger car, LCV, truck, and bus), off-highway (agricultural tractor and construction equipment), and area [Asia Oceania (China (CN), Japan (JP), India (IN), South Korea (KR), Thailand (TH), and Rest of Asia Oceania), EU (United Kingdom, Germany (DE), France (FR), Spain (ES), Russian Federation, Turkey (TR), and Rest of Europe (EU)), and North America continent (US, Canada (CA), and Mexico (MX)), and Rest of the globe (Brazil (BR), Iran, and Rest of RoW).

Main highlights

This industry report offers business insights with reference to the following points:

• OE Market Size, by after-treatment device: The study affords exhaustive market sizing and forecast up to 2025, by after-treatment devices including DPF, DOC, LNT, SCR, and GPF. The market sizing for after-treatment devices is covered at the area and regional levels that are considered under this analysis.

• OE Market Size, by component: The analysis affords detailed market sizing and forecast up to 2025, by components including exhaust manifold, downpipe, catalytic converter, muffler, sensors, and tailpipe. The industry sizing for components is covered at a regional level considered in the report

• OE Market Size, by Off-highway vehicle type: The market research affords exhaustive market sizing and forecast up to 2025, by off-highway vehicles types including agricultural tractor and construction equipment. The sector sizing for off-highway vehicle is covered for territories considered in the market research

• Aftermarket Size, by after-treatment device: The industry report affords detailed aftermarket sizing and forecast up to 2025, by after-treatment devices including DPF, DOC, and SCR.

• The report offers "Segment market share" of the key players in the exhaust system market.

• Market Development: The study offers highlighted information about profitable emerging sectors for exhaust system across localities.

• Product Development/Innovative products: The analysis contributes in-depth understanding into Research&development activities, up-on-coming technologies, and recent product launches in the exhaust system market.

• industry diversification: The market research affords exhaustive information about untapped sectors, market investments, recent products, and recent evolutions in the exhaust system market.

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