Exhaust Systems Market Size, Share & Industry Trends, Outlook...

Exhaust Systems Market Size, Share & Industry Trends, Outlook and Forecast, 2032

Posted 2024-04-12 10:57:10

Exhaust Systems Market

The worldwide exhaust systems market was estimated to be worth USD 41.02 billion in 2023 and is expected to grow to USD 65.85 billion by the end of 2032, according to a report released by Zion Market Research. Over the course of the projection period, the market is anticipated to rise at a CAGR of 5.40%. The study examines the factors driving growth, limiting it, and influencing demand in the worldwide exhaust systems market over the course of the forecast period. It will also assist in navigating and investigating the opportunities that present themselves in the field of exhaust systems.

Global Exhaust Systems Market: Overview

The pipes that are used to release the combustion byproducts from an engine or stove are called exhaust systems. The engine's burned gases will be transported by the entire system, which may consist of one or more exhaust pipes. Since the exhaust pipes remove harmful gases from both humans and machinery, they are extremely carefully built. Indoor furnaces and generators release toxic gases into the enclosed space, including carbon monoxide, hydrocarbons, and nitrogen oxides, all of which are extremely dangerous to breathe in and should be adequately vented.

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Global Exhaust Systems Market: Segmentation

OE and aftermarket sectors make up the global exhaust system segmentation. The market is fundamentally divided into segments based on vehicle type, after-treatment equipment, fuel type, and componentry. The OE market is divided into segments based on the components: exhaust manifold, catalytic converter, muffler, sensors, engine downpipe, and tailpipe. There are two further sub-segments within the exhaust manifold segment: single wall and double wall. Oxygen and temperature sensors are the two sub-segments of the sensors segment. The tailpipe, catalytic converter, and muffler are included in the aftermarket division by component. The global market is divided into diesel and gasoline categories based on the type of fuel.

The global market is divided into four segments based on the original equipment manufacturer's after-treatment devices: diesel particulate filter (DPF), selective catalytic reduction (SCR), diesel oxidation catalyst (DOC), and lean Nox trap (LNT). The global market is segmented into diesel particulate filter (DPF), selective catalytic reduction (SCR), and diesel oxidation catalyst (DOC) based on the aftermarket after-treatment devices. The global market is divided into three categories based on the kind of vehicle: passenger automobiles, light commercial vehicles, and heavy commercial vehicles.

Global Exhaust Systems Market: Growth Factors

The primary factors propelling the exhaust systems market are the escalating health risks and environmental issues. In the component segment, exhaust manifolds and catalytic converters commanded the biggest market share. The increased production of passenger cars and commercial vehicles worldwide is the reason for this growth. In order to create exhaust systems, there are numerous R&D projects underway, which stimulates the market. Gasoline particle filters are the fastest-growing subset of after-treatment devices.

Global Exhaust Systems Market: Regional Analysis

The exhaust systems market is segmented into four regions globally: North America, Asia-Pacific, Europe, and the Rest of the World. The market for exhaust systems is being led by the Asia-Pacific region because of the rising auto production there. China is the nation driving the automobile industry. The main automakers are present in the area, which explains why. North America and Europe are ranked after the Asia-Pacific area. Due to the increasing government laws pertaining to the emissions of dangerous gases, North America holds a significant market share in the exhaust systems industry.

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