In the overall infrastructure of an automobile, exhaust systems leap out to be a crucial component incorporated in almost all the modern vehicles. However, a course of remolding auto technologies in a bid to address carbon emission and environmental degradation issues is likely to have a profound influence on its applications in the automotive industry. Fact.MR published a new report on the exhaust systems market for the forecast period of 2017 to 2022. The report opines that the global exhaust systems market is likely to touch a valuation of U$ 57.5 Bn by 2022.
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The exhaust systems market is heavily influenced by a huge number of macroeconomic and microeconomic factors determining growth. Introduction of new regulatory guidelines pertaining to emission controls are foreseen to impact the landscape of the industry. Some of the ubiquitous trends influencing dynamics of exhaust systems market include advancements in material science technologies, rising fad for fuel efficient automobiles, and deliberate efforts toward research and development. Moreover, smart city initiatives are envisioned to drive new sustainable mobility requirements, primarily for precise real time emissions data. This trend is further likely to foster the demand for exhaust systems for furnishing the emerging requirements. Electrification of vehicles is also likely to have a deep-rooted influence on the proliferation of exhaust systems.
Manufacturers in the exhaust systems market are vying to seize new opportunities by providing additional services such as exclusive testing capabilities related to crucial parameters of leakage, performance, and many more. This move is believed to enable the market players gain long-term customer retention and seize untapped opportunities in the exhaust systems market. The exhaust systems market is witnessing a drastic drift toward selective catalytic reduction (SCR) technology for revitalizing fuel efficiency. This drift can be traced by the manufacturers in the exhaust systems market to bank on the accompanying opportunities. Moreover, debut of next-generation automobile infrastructure which will make use of advanced and ecofriendly technologies is predicted to sway the global exhaust systems market in the foreseeable future.
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Asia Pacific excluding Japan (APEJ) is foreseen to create remunerative aspects for exhaust systems market over the forecast timespan. Numerous automotive giants are vying to expand their operations across APEJ in the wake of escalating demand for passenger and commercial vehicles. Diesel is projected to touch a valuation of US$ 36 Bn by 2022-end and reign in terms of market value in the exhaust systems market, which can be attributed to growing preferences for vehicles running on diesel.
A major chunk of revenue of the exhaust systems market is foreseen to be amassed from OEMs. With over 60% share of the market, the prosperity of OEMs in exhaust systems market is likely to persist and is not anticipated to deteriorate anytime soon. To carry forward this prosperity, OEMs will have to keep up with the rapid technological advancements.
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The on-going trend of acquisitions and strategic tie-ups is envisioned to pave gainful avenues for exhaust systems market during the forecast period. Key players in the exhaust systems market such as Faurecia and many others are forging ahead with notable acquisitions to amplify their market perch. Key companies operating in the exhaust systems market are looking forward to profitable expansions with establishment of manufacturing units across various regions. This, in turn, might help them magnify their production volumes and procure huge profits in the long run. Moreover, most of the players operating in exhaust systems market are actively emphasizing on manufacturing light weight and technologically abreast products, which can help restoring the overall functionality of a vehicle.