Automotive Exhaust Manifold Market Worth USD 1.76 Billion, at 4% CAGR During 2019-2023 | TechnavioThe Associated Press
LONDON--(BUSINESS WIRE)--Jun 12, 2019--
According to Technavio Research Report "Global Automotive Exhaust Manifold Market by application (passenger vehicles and commercial vehicles) and geographic regions (APAC, North America, Europe, South America, and MEA) is witnessed to grow USD 1.76 billion, at a CAGR of 4% from 2019 to 2023”.
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Technavio has published a new market research report on the automotive exhaust manifold from 2019-2023. (Graphic: Business Wire)
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Global automotive exhaust manifold market: Inconel exhaust manifold in supercars
Supercars are making use of advanced materials and alloys to manufacture exhaust manifolds. Inconel alloys are finding increasing applications in hypercars, as they are suited for high-temperature applications. For instance, Inconel finds maximum applications in the exhaust system of supercars being used for racing events including Formula 1 and Le Mans series. Inconel-manufactured exhaust manifold offers higher strength and stiffness in addition to metal savings compared to any other available metal. Thus, the growing use of nickel-chromium alloys including Inconel helps the market players to offer efficient exhaust manifolds for supercars. This will further drive the market growth during the forecast period.
“Global automotive production is growing at a faster pace than ever, particularly, in the emerging economies of APAC. Exhaust manifolds form a standard part of fitment in the vehicles. Thus, the rising production of automobiles is expected to directly drive the global automotive exhaust manifold market growth in the forthcoming years,” says a senior research analyst at Technavio.
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Global automotive exhaust manifold market: Segmentation analysis
This market research report segments the global automotive exhaust manifold market by application (passenger vehicles and commercial vehicles) and geographic regions (APAC, North America, Europe, South America, and MEA).
APAC led the market in 2018, followed by North America, Europe, South America, and MEA respectively. The market growth in APAC can be attributed to the growing sales of automobiles in the advancing economies including South Korea, India, Malaysia, Thailand, China, and Indonesia. Furthermore, advanced economies including Singapore, Australia, and Japan are deploying steel exhaust manifolds owing to the continuous developments in the field of clean and green vehicles, often driven by regional regulations.
Global automotive exhaust manifold market: Increasing use of lightweight and advanced alloys to boost growth
A key factor driving the growth of the global automotive exhaust manifold market is the increasing use of lightweight and advanced alloys. Automotive manufacturers have increasingly started using tubular steel exhaust manifold in entry-segment vehicles which help in improving the overall efficiency of exhaust systems. The increased use of steel-made exhaust manifold is driving the global automotive exhaust manifold market, as the use of advanced high-strength steel increases durability and reliability. Thus, the increasing use of stainless steel in the mass production of passenger vehicles will drive the automotive exhaust manifold market growth during the forecast period.
Few Major Players for the Automotive Exhaust Manifold Market are:
- Eberspächer Group
- Faurecia SA
- Futaba Industrial Co. Ltd.
- Katcon Global SA de CV
- Magneti Marelli Spa
- Tenneco Inc.
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