PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1400975
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1400975
Asia Pacific Automotive Exhaust System Market size was valued at USD 28,383 Million in 2022, expanding at a CAGR of 6.9% from 2023 to 2030.
The purpose of an automotive exhaust system installation is to gather exhaust gasses from the vehicle's cylinder, eliminate dangerous materials and pollutants, lower noise levels, and release purified exhaust gas. Depending on the engine, the exhaust system has one or two channels. The flow resistance is chosen to ensure that the exhaust backpressure doesn't impair engine performance.
Automotive Exhaust System Market- Market Dynamics
Strict emission regulations by government and high demand for passenger cars are expected to propel market demand
Stricter laws governing vehicle emissions are being implemented by governments to lessen the negative environmental effects attributed to the automobile sector. Component providers are under pressure from these rules to develop highly efficient and environmentally friendly vehicle exhaust systems for both home and foreign markets. The Asia Pacific region is anticipated to see an increase in the demand for both passenger and commercial cars. The use of nanotechnology in catalytic converters is also expected to fuel market expansion. However, the Asia Pacific market for automotive exhaust systems is being restrained by the rising output of electric vehicles and the high cost of automotive catalysts.
Automotive Exhaust System Market- Key Insights
As per the analysis shared by our research analyst, the Asia Pacific market is estimated to grow annually at a CAGR of around 6.9% over the forecast period (2023-2030)
Based on Component segmentation, exhaust manifolds segment was predicted to show maximum market share in the year 2022, advancements in exhaust system, growing demand for vehicles have gained high demand in the market.
Based on Fuel Type segmentation, gasoline was the leading market in 2022, due to increasing demand form commercial automobile sector.
Based on Vehicle Type segmentation, passenger cars was the leading market in 2022, due to increasing demand passenger vehicles in countries like China and India.
On the basis of country, China was the leading revenue generator in 2022 mainly due to the growing number of automotive companies and high demand for vehicles.
The Asia Pacific Automotive Exhaust System Market is segmented on the basis of Component, Fuel Type, Vehicle Type, and Region.
The market is divided into five categories based on Component: exhaust manifolds, mufflers, catalytic converters, oxygen sensors, and exhaust pipes. The exhaust manifolds dominate the market. The rising need for exhaust systems that offer superior performance is boosting segment growth.
The market is divided into two categories based on Fuel Type: gasoline and diesel. The gasoline dominates the market and is likely to maintain its dominance during the forecast period. Diesel segment is estimated grow at the fastest CAGR over the forecast period due to its better durability and performance.
The market is divided into four categories based on Vehicle Type: passenger cars and commercial vehicles. Passenger cars segment held the largest share in 2022. The growing demand for passenger cars form developing countries is mainly boosting the market growth.
Automotive Exhaust System Market- Country Insights
Country wise, this market is widespread into India, China, South Korea, Japan, Australia, Thailand, Indonesia, Philippines, Malaysia, Taiwan, Vietnam, Hong Kong, New Zealand, Singapore, Myanmar, and the rest of the Asia-Pacific (APAC) region.
Asia Pacific region's consumers' growing spending power and awareness of technology is contributing to market growth. Furthermore, market development is anticipated due to the emerging automotive sectors in developing nations like China and India. India provides several advantages to the automobile industry, including low labor costs and less expensive raw materials, thus it is anticipated that the Made in India campaign will attract significant investments. India and China are two of the fastest-growing economies and have extensive supply chains and logistics networks.
In May 2022, Allied Distribution, a wholesale distributor specializing in performance, exhaust, and accessories, acquired Indy Exhaust Products to expand their reach.
The scope of this report covers the market by its major segments, which include as follows:
ASIA PACIFIC AUTOMOTIVE EXHAUST SYSTEM MARKET KEY PLAYERS
Continental AG
FORVIA Faurecia
Cummins Inc.
BASF SE
FUTABA INDUSTRIAL CO., LTD
Boysen
Allied Distribution
Sejong Industrial Co., Ltd
Umicore
Tenneco Inc.
Klarius Products
Yutaka Giken Company Limited
Others
ASIA PACIFIC AUTOMOTIVE EXHAUST SYSTEM MARKET, BY COMPONENT
Exhaust manifolds
Mufflers
Catalytic converters
Oxygen sensors
Exhaust pipes
ASIA PACIFIC AUTOMOTIVE EXHAUST SYSTEM MARKET, BY FUEL TYPE
Gasoline
Diesel
ASIA PACIFIC AUTOMOTIVE EXHAUST SYSTEM MARKET, BY VEHICLE TYPE
Passenger cars
Commercial vehicles
ASIA PACIFIC AUTOMOTIVE EXHAUST SYSTEM MARKET, BY REGION
Asia Pacific
India
China
South Korea
Japan
Australia
Thailand
Indonesia
Philippines
Malaysia
Taiwan
Vietnam
Hong Kong
New Zealand
Singapore
Myanmar
Rest of APAC