The global automotive exhaust systems market is expected to register phenomenal growth during the forecast due to increase in number of environmental problems triggered by harmful exhaust gases. Due to this, the government has initiated stringent emission rules in order to keep the environment safe and free from such harmful gases. Automotive exhaust system is a piping system that is designed in order to monitor reaction exhaust gases away from a controlled combustion inside an engine. The major factor that propels the growth of the global automotive exhaust systems market includes environmental issues.
With the purpose to encounter the rules stated by the government the automotive exhaust systems manufacturers have invested largely in research and development activities for the establishment of more effective exhaust systems to control the environmental pollution which is ultimately driving the growth of the global market. On the other hand, there are also factors that hamper the growth of the market such as noise pollution generated by these exhaust systems.
The global automotive exhaust systems market is classified on the basis of vehicle type, fuel type, component type, after treatment device, channel type, and geography. On the basis of vehicle type, the global market is classified as light commercial vehicle (LCV), heavy commercial vehicle (HCV), and passenger vehicle. On the basis of fuel type, the global automotive exhaust systems market is classified as gasoline and diesel. On the basis of component type, the global market is classified as manifold, connector, exhaust pipes and elbows, muffler, stack pipe or tail spout, clamps and resonators.
On the basis of after treatment device, the global market is classified as Diesel Oxidation Catalyst (DOC), Diesel Particulate Filter (DPF), Lean Nox Trap (LNT), and Selective Catalytic Reduction (SCR). On the basis of channel type, the global market is classified as OEM and aftermarket. On the basis of geography, the global market is classified as North America, Latin America, Eastern Europe, Western Europe, Asia-Pacific excluding Japan, Middle East & Africa and Japan.
The North American region comprises the U.S. and Canada. Latin America region comprises Mexico and Brazil. The Western European region comprises Germany, Italy, France, England, and Spain. The Eastern European region comprises Poland and Russia. Asia Pacific region comprises China, India, ASEAN, and Australia & New Zealand. The Middle East and Africa region comprises GCC, South Africa, and North Africa.
In case of geographical region, Asia Pacific region is projected to account a major share of the global automotive exhaust systems market. In Asia Pacific region, developing countries such as China and India are expected to witness noteworthy growth rates. The Asia Pacific market is followed by Eastern Europe and North America.
The factors that contribute to the growth of the Asia Pacific market include high automobile production and technical advancements. In addition, favorable working circumstances coupled with low-cost labour are key factors, which foster OEMs to set up manufacturing industries in Asia Pacific. On the other hand, increasing demand in countries such as Japan is also driving the growth of the global market.
Some of the key players that fuel the growth of the global automotive exhaust systems market include Benteler International, Eberspacher, Faurecia, Futaba Industrial, and Tenneco. The other players include Bosal International, Chongqing Height Automobile Exhaust System, Friedrich Boysen, Harbin Airui Automotive Exhaust System, Katcon, Sejong Industrial, and Yutaka Giken.
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The automotive & transportation industry is amongst the most exposed verticals to the ongoing COVID-19 outbreak and is currently amidst unprecedented uncertainty. COVID-19 is expected to have a significant impact on the supply chain and product demand in the automotive sector. The industry's concern has moved on from being centered on supply chain disruption from China to the overall slump in demand for automotive products. The demand for commercial vehicles is expected to plummet with the shutdown of all non-essential services. Furthermore, changes in consumer buying behavior owing to uncertainty surrounding the pandemic may have serious implications on the near future growth of the industry. Meanwhile, liquidity shortfall and cash crunch have already impacted the sales of fleet operators, which is further expected to widen over the next few months. We are continuously monitoring the COVID-19 pandemic, and assessing its impact on the growth of the automotive & transportation industry. The report will account for Covid19 as a key market contributor.