With a key focus on the development of new technologies, in line with stringent government regulations aimed at emission control, the demand for efficient automotive exhaust manifold systems is estimated to grow at a rather modest rate, in 2019, as indicated by Future Market Insights (FMI) in a recently published market intelligence report. As per the analysis, the global sales of automotive exhaust manifold systems is estimated to be valued at US$ 8.6 Billion, by the end of 2019, representing an annual growth rate of approximately 3.5 percent, during the said period.
Apart from comprehensively studying the key dynamics shaping the growth trajectory of the global automotive exhaust manifold market, FMI study also offers in-depth segmental analysis, under several categories including material, product, engine, vehicles, fuel, and sales channel.
Demand for clean and efficient transportation is increasing, given the environmental concerns, stringent regulations regarding carbon emissions and footprint reduction initiatives taken by several governments, globally, will predominantly drive the sales of automotive exhaust manifold systems, in the coming years, predicts FMI.
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Material Advancements for Strong, Durable Automotive Exhaust Manifold Systems
Top companies operating on the global automotive exhaust manifold systems market are increasingly developing efficient, durable, and long-lasting exhaust systems for a better load bearing capacity of the engines. Advancements in science technologies (for materials) in manufacturing industries have allowed players to use newly developed materials such as alloys of stainless steel, making exhaust manifolds durable and robust under extreme pressure and temperature conditions, apart from making the vehicles much lighter.
In addition, companies are also innovating novel exhaust system technologies, in agreement with government regulations such as Euro 6C, China National Standard V and VI, Bharat Stage VI. FMI anticipates significant innovations in the automotive exhaust manifold systems market in view of such emission regulations.
Key Takeaways from Segmental Analysis
- In terms of materials, automotive exhaust manifold systems made of cast iron will gain a significant market share of approximately 64 percent, through the forecast period of 2018-2026, given the material’s contamination resistance, thermal stability and the strength needed for consistently high levels of performance and durability in several automotive application.
- However, stainless steel will gain a substantial market share, post 2022, as favorable properties such as corrosion resistance, good strength and aesthetics gain high preference.
- On the basis of vehicle type, the passenger car segment will exhibit maximum adoption of exhaust manifold systems, holding more than three-fourth of the market value share by 2026.
- In term of product type, log manifold will dominate the automotive exhaust manifold systems landscape, with approximately 85 percent market share, given the product’s longer life and efficient operations in real time working conditions.
- With nearly 88 percent market share, inline engines will exhibit maximum installations of exhaust manifold systems, given the engine’s balance compared to V line counterpart because of the equal weight distribution.
- Sales of automotive exhaust manifold systems, through OEM channel will contribute the maximum revenue, versus aftermarket fitments.
- APEJ is projected to hold a notable share in the global automotive exhaust manifold systems market, given the increasing investments by car manufacturers in developing markets and an ever-expanding urban landscape in the region.
- Eastern Europe automotive exhaust manifold systems market is also likely to witness substantial growth, with Germany and France at the fore.
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Key Insights from Competition Tracking
- Competition in the automotive exhaust manifold systems market is projected to remain significantly high with top companies contributing nearly 60-70 percent to the market. The market for automotive exhaust manifold systems is anticipated to remain consolidated over the forecast period, as per FMI.
- Demand and supply curve of automotive exhaust manifold systems is estimated to remain on the linear side, through the forecast period.
- Key companies are diligently concentrating on increasing its production so that they are able to meet the global demand for automotive exhaust manifold systems.
- Investments in research and development will increase, further driving the production of novel automotive exhaust components. Collaborative developments via a partnership with research institutes and industry players to pave the way for innovative products.
- Key players are also projected to enter in joint ventures and acquisition for strategic positioning in regional markets, while also increasing their profitability and create growth opportunities.