NEW YORK, July 13, 2015 /PRNewswire/ -- The Europe exhaust system market was valued at $5,882.0 million in 2014, and is expected to reach $8,069.5 million by 2019, at a CAGR of 6.5% from 2014 to 2019. Germany is expected to hold the largest market share, that is, 32.4%, of the Europe exhaust system market by 2019, growing at a CAGR of 6.6% from 2014 to 2019. The exhaust system market in the European region has been segmented into Germany, France, the U.K., and others. The key factor propelling the growth of the Europe exhaust system market is the recovery of the automotive industry in Europe, which is driving the demand for vehicles. The stringent emission norms in the region are also boosting the market for exhaust systems.
In terms of vehicle type, the exhaust system market is divided into passenger car, LCV, and HCV. The Europe exhaust system market for passenger cars was valued at $4,816.7 million in 2014, and is expected to reach $6,446.7 million by 2019, registering a CAGR of 6.1% from 2014 to 2019.
Geographically, the Europe region is divided into major countries such as Germany, France, and the U.K. The German market for exhaust systems was valued at $1,901.1 million in 2014, and is expected to reach $2,616.8 million by 2019, growing at a CAGR of 6.6% from 2014 to 2019. France and the U.K are expected to grow at CAGRs of 5.4% and 9.9%, respectively.
The Europe exhaust system market is a competitive market, with a number of market players possessing advanced technologies. The market is estimated to be dominated by players such as Benteler International, Faurecia SA, and Eberspacher. New product launches and partnerships, agreements, collaborations, and joint ventures are the major strategies adopted by market players to achieve growth in the European exhaust system market.
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