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The global automotive exhaust system market size is slated to hit USD 11.75 billion by 2026, deriving growth from the increasing emphasis of reducing emission levels around the world. This information is provided in the recent Fortune Business Insights™ report, titled “Automotive Exhaust System Market Size, Share & Industry Analysis, By Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles), By Fuel Type (Gasoline, Diesel, Alternative Fuels (LPG, CNG, Others)), By Component Type (Manifold, Connector, Exhaust Pipe, Muffler), and Regional Forecasts, 2019-2026”. The report states that the value of this market stood at USD 11.35 billion in 2018 and is anticipated to register a CAGR of 0.3% from 2019 and 2026.
Eberspaecher to Set Up Exhaust Technology Unit in Mexico
One of the top automotive exhaust system market trends is the implementation of different strategies by major companies to tap new and emerging regions. Eberspaecher is one such company that is taking this trend forward through its overseas activities. In May 2019, the Germany-based automotive supplier declared that it will be making a long-term investment in Mexico by constructing a manufacturing plant for exhaust systems in the country. The facility will be built across an area of 15,000 square meters and will focus on producing advanced exhaust systems for commercial and passenger vehicles. The end goal of the company is to establish itself in the North America Free Trade Agreement (NAFTA) market.
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Rising Inclination toward Electric Vehicles to Inhibit Market Growth
Analysis contained in the automotive exhaust system market report suggests that increasing uptake of electric vehicles (EVs) as a means to bring down dependency on fossil fuels will be a critical hindrance in the growth path of this market. For example, the International Energy Agency (IEA) highlights in its Global EV Outlook 2019 that the global EV fleet increased by a staggering 63% in 2018 from 2017 levels, with China leading the pack. Moreover, till 2030, the IEA estimates that the global stockpile of EVs will grow by 44 million annually. This rising production of EVs is based on the steadily climbing demand for these vehicles, keeping in view the skyrocketing vehicular pollution levels across the globe. Since EVs eliminate the need for internal combustion engines, the requirement for exhausted systems is automatically removed. Overcoming this hurdle will be an onerous undertaking for the stakeholders in this market.
Limited Players to Dominate the Competitive Landscape of the Market
The competitive landscape of this market is characterized by the presence of a few key players that have a tight grip on the market in terms of share. Their dominance is attributable to wide product offerings, strong finances, reliable revenue streams, well-established regional and broad global presence, and heavy investment in R&D. These companies are also introducing innovative solutions frequently, making it difficult for new entrants to carve a place for themselves in the market.
List of Players Covered in the Report:
Further Report Findings:
Table of Segmentation
Value (USD Billion)
By Vehicle Type
By Fuel Type
By Component Type