An In-depth Market Insights of Automotive Exhaust Manifold Market including Log Manifold and Tubular Manifold Covering 30+ Countries like United States, United Kingdom, Germany, France, Norway, Sweden, Saudi Arabia, United Arab Emirates, Japan, Korea, Australia, New Zealand, and Others.
NEWARK, DE / ACCESSWIRE / August 21, 2024 / In 2023, the global automotive exhaust manifold market was valued at USD 10,052 million. The market is expected to grow at a compound annual growth rate (CAGR) of 3.7% over the forecast period, increasing from USD 10,423.9 million in 2024 to USD 14,990.5 million by 2034.
Automotive exhaust manifolds are essential components of exhaust systems, designed to prevent harmful exhaust gases from entering the vehicle cabin. The market is set to experience notable growth due to the manifold's key attributes, including lightweight design, high strength, and substantial load capacity. Enhanced corrosion and impact resistance also contribute to improved vehicle performance.
The market's expansion is driven by rising demand for exhaust manifolds in alternative fuel vehicles, such as hybrids and electric cars, which offer greater fuel efficiency compared to traditional vehicles. However, growth is somewhat limited by increasing fuel costs and a growing preference for alternative solutions, which may impact some applications and sales.
The automotive exhaust manifold market is expected to see significant growth in regions like China, India, and ASEAN countries, driven by the expanding automotive industry in these areas. As vehicle sales increase in the Asia-Pacific and Emerging Markets (APEM), the demand for automotive components, including exhaust manifolds, is projected to rise over the next decade.
How demand for Exhaust Manifold in Automotive Industry Bolstering the Overall Market Growth?
Many materials such as super alloys and high stainless steel are light in weight and have great strength and load capacity with the development of improved material technology. This is an important factor that will drive the automotive exhaust manifold market forward. Besides, strong corrosion and high temperature resistance results in greater productivity in automotive exhaust manifolds.
Paying attention to changes in the aftermarket replacement is also important for the vehicle's longevity and performance as well as the health and safety of the driver.
How Higher Fuel Prices will Create an Impact the Market Growth of Exhaust Manifold?
The prices for gasoline and diesel will be exponential in the future as crude oil stocks decline, resulting in increased demand, paving the door for the emergence of cars powered by alternative energy sources.
Furthermore, fuel prices and the use of petroleum products as fuel in the automotive industry are steadily rising. Manufacturers and governments are promoting alternative fuel sources vehicles such as hybrid and electric vehicles which are far more fuel efficient than conventional automobiles in order to reduce global consumption.
This is expected to act as a barrier to the growth of the automotive exhaust manifold market. Because resources are scarce and demand is excessive, it is imperative that we change our focus to alternatives that are more sustainable. Hence increasing fuel prices has the adverse impact on the manifold market as well as global economy.
Full Report URL: https://www.futuremarketinsights.com/reports/automotive-exhaust-manifold-market
Key Takeaways from Automotive Exhaust Manifold Market Study
China:
Projected automotive exhaust manifold sales to reach USD 4,185.7 million by 2034.
Demand for exhaust manifolds in the automotive sector is expected to grow at a 4.8% CAGR.
In 2023, China's automotive industry saw significant growth with passenger car output exceeding 30.16 million units and total sales surpassing 30.09 million units.
United States:
Notable increase in demand for efficient and intelligent automotive exhaust system due to consumer preferences for enhanced car performance and lower emissions.
The market is projected to grow at a 3.1% CAGR over the forecast period.
Japan:
Anticipated sales of automotive exhaust manifolds to reach USD 932.3 million by 2034.
Demand for exhaust manifolds is expected to grow at a robust 2.5% CAGR.
Japan's strong focus on technological advancements and high-quality production contributes to a positive outlook for exhaust manifold manufacturers.
Category-wise Insights
Which Material Type Demand is on Rise?
The cast iron exhaust manifold is projected to create an 3.3% CAGR during the period of 2024 to 2034. The high demand for cast iron exhaust manifold is due to the low cost and longer durability of cast iron manifold, which makes it the preferred choice among manufacturers.
The necessity for high accuracy as well as higher productivity component along with an increase in demand of automotive will boost up the expansion of the global automotive exhaust manifold market, specifically the cast iron segment.
Why there is High Demand for Automotive Exhaust Manifold from Passenger Car segment?
Based on vehicle type, the passenger cars segment is anticipated to hold a dominant share and exhibit a CAGR of 4.1% during the forecast period.
Passenger car production accounts for more than 70% of the total vehicle production which makes it a prominent market for exhaust manifolds. This factor elevates the importance of passenger cars, which is expected to increase demand for exhaust manifolds in the global market.
Competitive Landscape for the Global Automotive Exhaust Manifold Market
Some of the well-known automotive exhaust manifold market players are Faurecia SA, Tenneco Inc., Eberspächer Climate Control Systems GmbH & Co. KG, Futaba Industrial Co. Ltd, Katcon, S.A. De C.V., Benteler Group, Sango Group, Friedrich Boysen GmbH & Co. KG., Sejong Industrial Co. Ltd., Westcast Industries Inc., Yutaka Giken Company Limited, DuPont, Mahle GmbH, Denso Corporation, and SPM Autocomp Systems among others.
Numerous new manufacturers have arisen in the global marketplace, mainly in China and India. The frequency of mergers and business expansion to enhance automotive exhaust manifold market trends has increased during the past several years. Several large corporations are also attempting to boost the effectiveness of exhaust manifolds for different types of automobiles.
Recent Developments in the Global Automotive Exhaust Manifold Market:
In 2023, Eberspächer Climate Control Systems, a prominent company based in Germany, inaugurated a new plant in Xuchang, China. This facility is dedicated to producing exhaust gas after-treatment systems for the Chinese automotive market.
Additionally, in 2023, Walker Emissions Control, headquartered in the United States, launched 36 new part numbers. This expansion aims to enhance coverage for over five million vehicles currently in operation (VIO).
Global Automotive Exhaust Manifold Market by Category
By Product Type:
Log Manifold
Tubular Manifold
By Engine Type:
V Engine
Inline
By Vehicle Type:
Passenger Car
Light Commercial Vehicle
Heavy Commercial Vehicle
By Fuel Type:
Gasoline
Diesel
By Sales Channel:
OEM
Aftermarket
By Material Type:
Cast iron
Stainless Steel
By Region:
North America
Latin America
Western Europe
Eastern Europe
Middle East and Africa (MEA)
Japan
Asia Pacific excluding Japan (APEJ)
Authored By:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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