According to Data Bridge Market Research new Market report, global exhaust system market will account to an estimated USD 85.05 billion in 2018 growing at a CAGR of 5.95% during the forecast period of 2019 to 2026.
Global Exhaust System Market
Exhaust system is the entire structure of pipes and flowing system that drive all of the toxic gases emitted by the vehicle away from the engine and user of the vehicle. It is a structure of two or more pipes that draws the harmful gases away while also directing fuel towards the engine for its combustion and operation of the vehicle.
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Global exhaust system market is segmented on the basis of and geography.
By After-Treatment Device (DOC, DPF, LNT, SCR, GPF), Component (Exhaust Manifold, Downpipe, Catalytic Converter, Muffler, Tailpipe, Sensors), Vehicle Type (Passenger Car, LCV, Truck, Bus), Aftermarket Vehicle Type (LDV, HDV), Off-Highway Vehicle Type (Agricultural Tractor, Construction Equipment) and Geography (North America, South America, Europe, Asia-Pacific, Middle East & Africa)
FACTORS DRIVING GROWTH IN EXHAUST SYSTEM MARKET:
Enforcement of regulations for low pollution emitting vehicles:
Increasing levels of pollution, even reaching hazardous levels on the air index governments of various countries have adopted stringent regulations and standardized the specific requirements for the vehicles and their emissions.
Indian government introduced the Bharat Stage-IV norms for regulating the emissions from a passenger car, it reduced the permissible emissions of CO (g/Km) from 2.3 in Bharat Stage-III to 1.0 with its introduction. It majorly impacted the HC + NOx (g/Km) emissions as well reducing from 0.35 (combined) to 0.18 (combined). Bharat Stage-IV norms were first introduced in April 2010 for 13 major cities, but due to the increasing levels of pollution in the environment and air, the government enforced it for the whole country in April 2017. The Indian government also announced their decision to scrap the plans for the introduction of Bharat Stage-V emissions and instead introduce Bharat Stage-VI norms from the year beginning 2020. These steps and regulations introduced by the governments of various countries and not just India, is expected to be one of the major driving factors for the exhaust system market, as vehicles would require standardized exhaust systems as specified by the region’s governments.
Few of the major competitors currently working in the exhaust system market are Faurecia, Tenneco Inc., Continental AG, Eberspächer, FUTABA INDUSTRIAL CO.LTD., Benteler International, Friedrich Boysen GmbH & Co. KG, Yutaka Giken Company Limited, Sejong Industrial Co.Ltd., BOSAL, MAGNAFLOW, KATCON GLOBAL, Grand Rock Co. Inc., Magneti Marelli S.p.A., FennoSteel, Eminox, European Exhaust and Catalyst Ltd, SANGO Co. Ltd., Calsonic Kansei Corporation, Sharda Motor Industries Ltd. and DENSO CORPORATION.
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