Passenger Cars Exhaust System Market to Grow with a CAGR of 5.52% Globally through to 2028
Fuel Efficiency and CO2 Emission
Reduction, Stringent Emissions Regulations and Environmental Concerns,
Advancements in Exhaust Technology and Market Demand for Electric and Hybrid
Vehicles are factors driving the Global Passenger Cars Exhaust System market in
the forecast period 2024-2028.
According to TechSci Research report, “Global Passenger
Cars Exhaust System Market - Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, the Global Passenger Cars Exhaust
System Market stood at USD 25 billion in 2022 and is anticipated to grow with a
CAGR of 5.52% in the forecast period, 2024-2028. The global Passenger Cars car exhaust
system market is a critical component of the automotive industry, with a
complex interplay of challenges and opportunities. This market, valued for its
role in emissions control, is currently navigating a transformative landscape.
Stricter emissions regulations imposed by governments worldwide are driving
extensive research and development efforts to create advanced exhaust
technologies that reduce pollutants, including carbon dioxide (CO2), nitrogen
oxides (NOx), and particulate matter (PM). However, the transition to
electrification, including the adoption of electric vehicles (EVs) and hybrid
electric vehicles (HEVs), poses a challenge to traditional exhaust system
manufacturers, as the demand for internal combustion engine (ICE) exhaust
systems diminishes. To remain competitive, manufacturers must diversify their
expertise and adapt to evolving needs, offering components for EVs, thermal
management systems, and battery cooling solutions. Furthermore, intense price
competition exerts pressure on manufacturers to streamline production and
reduce costs while maintaining high-quality standards. Complex integration
requirements demand advanced engineering and compatibility across various
vehicle configurations, adding intricacy to the design process. Durability and
corrosion resistance are essential in ensuring the longevity of exhaust
systems, requiring innovative materials and coatings.
The global Passenger Cars car exhaust system market is
a critical component of the automotive industry, playing a pivotal role in
emissions control and vehicle performance. This market is marked by a dynamic
landscape shaped by a range of factors, from stringent emissions regulations
and the shift towards electrification to technological advancements and the
ever-present need for improved fuel efficiency.
At the forefront of the Passenger Cars car exhaust
system market are stringent emissions regulations. Governments and
international bodies worldwide are imposing increasingly strict limits on
vehicle emissions to combat air pollution and address climate change. These
regulations target pollutants such as carbon dioxide (CO2), nitrogen oxides
(NOx), particulate matter (PM), and hydrocarbons. In Europe, the Euro 6
emissions standards have been in force, with even more stringent Euro 7
standards on the horizon. Similarly, regions like North America and Asia have
their own standards, such as the EPA Tier 3 and China VI. Compliance with these
regulations has become a paramount concern for automakers, catalyzing the
development of advanced emissions control technologies within the exhaust
system.
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spread through 180 Pages and an in-depth TOC on "Passenger Cars Exhaust System Market.”
To meet stringent emissions standards, the Passenger
Cars car exhaust system market has witnessed significant advancements in
emissions reduction technologies. Selective Catalytic Reduction (SCR) systems
have gained prominence, utilizing urea-based solutions like AdBlue or DEF to
reduce NOx emissions. Gasoline Particulate Filters (GPFs) are increasingly
employed in gasoline-powered vehicles to curb PM emissions. Catalytic
converters, which play a crucial role in reducing CO, NOx, and hydrocarbon
emissions, continue to evolve with enhanced catalytic materials. Exhaust Gas
Recirculation (EGR) systems have become integral, recirculating a portion of
exhaust gas to lower combustion temperatures and reduce CO2 emissions. Additionally,
the integration of advanced sensors and engine management systems ensures
precise control over emissions, allowing vehicles to meet regulatory
requirements while maintaining optimal engine performance.
The pursuit of improved fuel efficiency and reduced
CO2 emissions remains a key driver in the Passenger Cars car exhaust system
market. With consumers demanding more eco-friendly vehicles and governments
enforcing corporate average fuel economy (CAFE) standards, automakers are under
constant pressure to enhance engine efficiency and optimize exhaust systems. Lightweight
materials, including high-grade stainless steel, aluminum, and advanced
composites, are incorporated into exhaust system designs to reduce overall
vehicle weight and improve fuel efficiency. Compact and integrated exhaust
system designs maximize underbody space and enhance aerodynamics. Moreover, the
trend of downsized engines with turbocharging has prompted exhaust system
engineers to develop solutions that maximize the efficiency of these smaller
powertrains while still meeting emissions standards.
The automotive industry is experiencing a monumental
shift towards electrification, marked by the growing adoption of electric
vehicles (EVs) and hybrid electric vehicles (HEVs). This transition has
significant implications for the Passenger Cars car exhaust system market.
EVs, powered entirely by electricity, eliminate the
need for traditional exhaust systems, focusing instead on thermal management
systems to regulate temperatures. However, HEVs, which combine internal
combustion engines with electric propulsion, still require exhaust systems for
emissions control. As the demand for traditional exhaust systems diminishes
with the rise of electrification, manufacturers must diversify their expertise
and product offerings. This includes components for EVs, as well as thermal management
solutions and battery cooling systems to cater to the needs of hybrid vehicles.
Major companies operating in Global Passenger
Cars Exhaust System Market are:
- Benteler International AG
- Bosal International N.V.
- Continental AG
- Eberspacher GmbH & Co. KG
- Faurecia S.A
- Friedrich Boysen GmbH & Co. KG
- Futaba Industrial Co. Ltd
- Johnson Matthey
- Tenneco, Inc
- Yutaka Giken Company Limited
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“The global Passenger
Cars car exhaust system market is a vital component of the automotive industry,
addressing emissions control and engine performance. It operates in a dynamic
landscape shaped by stringent emissions regulations, the transition to
electrification, cost pressures, integration complexities, and the quest for
innovation. Manufacturers are continually developing advanced emissions
reduction technologies, lightweight materials, and sound enhancement solutions
to meet evolving market demands. The rising popularity of electric vehicles
challenges traditional exhaust system suppliers, requiring diversification into
thermal management and battery cooling systems. Moreover, the market's
competitiveness necessitates cost efficiency and pricing competitiveness. As
the automotive industry evolves, the Passenger Cars car exhaust system market
remains a critical contributor to reducing emissions and enhancing the overall
driving experience.,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based management consulting firm.
“Passenger
Cars Exhaust System Market – Global Industry Size, Share, Trends, Opportunity,
and Forecast, Segmented By Fuel Type (Gasoline, Diesel), By After Treatment
Type (Diesel Oxidation Catalyst, Selective Catalytic Reduction, Gasoline
Particulate filter), By Component Type (Catalytic Converter, Tailpipe,
Mufflers) By Region, By Competition, 2018-2028”, has evaluated the
future growth potential of Global Passenger Cars Exhaust System Market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Passenger Cars Exhaust System Market.
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