The global automotive exhaust systems market is estimated to grow at the CAGR of nearly 4.7% during the forecast period. The major factors contributing to the growth of the market include the stringent vehicle emission standards and rising production of commercial and passenger vehicles. Increasing environment regulations related to vehicle emissions have augmented the adoption of automotive exhaust systems in the vehicle components. For instance, on February 19, 2016, the Indian Ministry of Road Transport and Highways (MoRTH) sanctioned a notification of Bharat Stage (BS) VI emission standards. This notification is issued for all major on-road vehicle classes in India.
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These standards applied to heavy-duty and light vehicles, as well as two- and three-wheelers. After 1st April 2020, the BS-VI standards will go into effect for all such vehicles. The proposed BS-VI emission standards adoption will bring Indian motor vehicle regulations into a configuration with EU regulations for two-wheeled vehicles, light-duty passenger cars and commercial vehicles, and heavy-duty trucks and buses. These stringent emissions will further drive the demand for automotive exhaust systems that collects the exhaust gases from the cylinders and eliminates harmful substances. It decreases the noise level and discharges the purified exhaust gases. The system meanwhile reduces pollution and accelerate the power of the engine.
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Global 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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