"Flourishing Automotive Sector to Shape the Automotive Exhaust Systems Market"

Automotive exhaust systems market valued at US$ 31.09 Bn in 2020, expected to grow with promising CAGR during the forecast period from 2021 to 2029. Essentially directed by Asia Pacific, automotive exhaust systems market majorly driven by rising production of automobiles across the globe. Post economic despondency, rapid demand for automobiles has been a major driving factor for the growth in global automotive equipment-manufacturing sector. Vehicles are marked as the largest source of urban air pollution in the developing world. However, ceasing the growth of motor vehicle production is neither feasible nor desirable, given the economic and other benefits of increased mobility. The challenge is to maximize benefits of motorized transport while minimizing its adverse impacts on the environment, and on society. Thereby, air pollution abatement policies have set the standards for reduction and control of pollutant emissions from motor vehicles, along with more proficient utilization of motor vehicles. Tougher emission regulations are urging OEMs to focus on emission reducing techniques. Such techniques incorporate advancement of exhaust systems using various alloying elements with stainless steel such as Chromium, Nickel, Manganese, Molybdenum, Carbon and others. Growing automotive production along with environment safety measurements expected to stimulate the demand for automotive exhaust systems throughout the forecast period.

"OEMs to Cement their Dominating Position in Automotive Exhaust Systems Market"

Number of players in unorganized sector offering automotive exhaust systems are far higher than in organized sector. Although lesser in number, organized sector accounts for more than 70% of turnover, globally. Growing customer focus on quality and assurance of equipment by OEMs with warranty services making it most favorable among customers. Further, with long average life span of automotive exhaust systems, aftermarket segment lags behind OEMs due to lesser replacement demand. Similarly, to expand customer base, manufacturers are focusing on swelling their distribution network. With growing automotive production as well as strong distribution network, OEMs to retain their dominant position throughout the forecast period.

"Persistent Development of Automobile Industry to Ensure Fastest Growth of Automotive Exhaust Systems Market in Asia Pacific"

At present, Asia Pacific market demonstrating more than 50% of the overall automotive exhaust systems market value, worldwide. Automotive industry is one of the major sectors driving overall economic growth of Asia Pacific. Region expected to witness comparatively higher market growth throughout the forecast period, principally due to rising production of vehicles. In 2020, China accounted for production of 24.80 Mn units of passenger cars, while Japan, South Korea and India accounting for 8.34 Mn, 3.73 Mn and 3.95 Mn respectively in the same year. Further, cost effective manufacturing base keeps the product cost lower relative to operations in Europe, North America and Latin America. Similarly, government initiatives to stimulate the automotive sector is driving the market growth here. For instance, National Automotive Testing and R&D Infrastructure Project (NATRiP), initiative by India, signifies collaboration between the Government of India and Indian automotive industry to generate a state of the art testing and R&D infrastructure in the country. With steady growth of automotive sector, subsequent automotive exhaust system market to experience promising growth throughout the forecast period.

"Mergers & Acquisition to Remain Key Strategy"

Automotive exhaust systems market intensely fragmented in nature with presence of both international as well as domestic players. Market players are aiming for opportunities for merging & acquisition of business to enhance their reach to customers. Prime instances includes joint venture of Eberspacher International GmbH with China Yuchai International Ltd.; acquisition of Sommer Allibert SA by Faurecia SA; acquisition of Federal-Mogul Corporation by Tenneco Inc., and others. Similarly, manufacturers are aiming for R&D activities to advance their product to follow stringent emission regulations. For instance, Eberspacher International GmbH invested US$ 181.42 Mn for automotive R&D activities. Similarly, Magneti Marelli S.p.A. has 12 R&D centers across the world. Key players in global automotive exhaust systems market includes Eberspacher International GmbH, Friedrich Boysen GmbH & Co. KG, Benteler International AG, Faurecia SA, Yutaka Giken Co., Ltd., Tenneco Inc., Futaba Industrial Co., Ltd., Magneti Marelli S.p.A., Harbin Airui Automotive Exhaust Systems Co. Ltd., SANGO Co., Ltd., Sejong Industrial Co., Ltd., Bosal International N.V. and others.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Automotive Exhaust Systems market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Automotive Exhaust Systems market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Automotive Exhaust Systems market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Automotive Exhaust Systems market?
• Which is the largest regional market for Automotive Exhaust Systems market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Automotive Exhaust Systems market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Automotive Exhaust Systems market worldwide?