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Exhaust systems market to grow sharply in 2024, study finds

International. The Fact.MR study indicates that the exhaust system market will grow by $63 billion in 2024 and reach $111 billion by 2034.

Manufacturers in this segment maintain their competitive edge through unique features, materials, and designs by offering customized products that meet specific vehicle specifications.

Both original equipment manufacturers (OEMs) and the aftermarket need these systems. They are vital equipment for the production of new vehicles that manage to meet demand, performance, efficiency and emission regulations, in addition, they are equipment that needs maintenance and is replaced from time to time.

Among the main conclusions of the study are the following:

  • The global exhaust systems market is projected to grow at a CAGR of 5.9% from 2024 to 2034.
  • East Asia is estimated to hold 31.3% of the global market by 2034, with expected revenues of $35 billion.
  • OEM revenues are expected to reach $81 billion by the end of 2034.
  • The market in Japan is estimated to grow at a CAGR of 7.6% from 2024 to 2034.
  • The demand for exhaust systems for commercial vehicles is projected to increase at a CAGR of 7% from 2024 to 2034.
  • The market in the United States is estimated to generate revenues of $14 billion by 2024.
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Major industry participants include Faurecia SE, Futaba Industrial Co., Sawicki Speed, Milltek Sport, Friedrich Boysen GmbH & Co. KG, Eberspacher, Honda Global, Tenneco Automotive Pvt. Ltd., Yutaka Giken Co. Ltd., Benteler International AG and Sejong Industrial Co. Ltd.

OEMs will continue to generate higher revenues compared to the aftermarket, selling a significant number of exhaust systems primarily due to high vehicle production volumes and regulatory requirements. OEMs are required to install compliant exhaust systems in new vehicles to comply with global pollution regulations. The demand for OEM exhaust systems increases with car production levels.

Major players in the exhaust system industry maintain their competitive edge by using unique features, materials, and designs to meet the diverse needs of OEMs and aftermarket customers. They increase their revenue through strong relationships with distributors and service providers in the aftermarket.


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