The global automotive exhaust systems market is expected to grow at a CAGR of nearly 4.7% during the forecast period. Government initiatives to control vehicle emission are primarily driving the growth of the market. Several emerging and developed nations have been facing concerns regarding air pollution. Vehicles have a significant role in the increase in air pollution. Therefore, automotive OEMs, automobile companies, and government are focusing on automotive systems that contribute to combat the concern of vehicle emission. As a result, the government across the countries, including China, India, the US, and Norway, are promoting the adoption of hybrid vehicles as total emissions regarding driving hybrid vehicles are normally less than those for gasoline cars.
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In June 2016, EV30@30 campaign was introduced, to accelerate the electric vehicles deployments and target of minimum 30% sales of new electric vehicle sales by 2030. The campaign totals nearly 29 supporting companies, 11 member countries and organizations. It supports the adoption of light commercial vans, electric passenger cars, buses and trucks (including plug-in hybrid, battery-electric, and fuel cell vehicles). This initiative also aims towards the installation of charging infrastructure to deliver adequate power to the vehicles installed. Owing to these initiatives, a considerable rise in the demand for hybrid electric vehicles has been witnessed among certain countries. For instance, as per the International Energy Agency (IEA), in China, the demand for plug-in hybrid electric vehicle (PHEV) has significantly increased from 280,000 in 2017 to 540,000 in 2018.
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In Europe, the demand for PHEV has increased from 430,000 in 2017 to 610,000 in 2018. The rising demand for PHEV is supporting to drive the global automotive exhaust systems market. The exhaust system collects the exhaust gases from the cylinders and eliminates harmful substances. In addition, it reduces the noise level and discharges the purified exhaust gases at an appropriate point of the vehicle away from its occupants. A three-way catalyst is intended to decrease engine-out emissions inside the exhaust system.
As a result, the companies are focusing on the introduction of new automotive exhaust systems for PHEV. For instance, in July 2018, BorgWarner Inc. declared that its innovative Exhaust Heat Recovery System (EHRS) will enter in the production by the end of 2018, for PHEVs and hybrid electric vehicles. With the use of heat from exhaust gas which would usually be diverted through the exhaust pipes and wasted, EHRS decreases the warm-up time of the engine and increases efficiency, which in turn, improves fuel economy and control emissions. It is a cost-effective solution that features low weight and compact packaging, as well as can simply be integrated into vehicles. By the EHRS, BorgWarner fulfills the increasing demand for highly efficient solutions to control emissions and will further enhance its market share.
Automotive Exhaust Systems Market Segmentation
By Component
- Manifold
- Catalytic Converters
- Flexible Couplings
- Muffler
- Pipes
- Hanger Rods
- Others (Gasket and Flanges)
By Application
- Passenger Vehicles
- Commercial Vehicles
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