LONDON, June 7, 2016 /PRNewswire/ -- The North America exhaust system market attained a size, in terms of value, of $4749.2 million in 2014, and is expected to reach $7465.7 million by 2019, growing at a CAGR of 9.5% from 2014 to 2019. The U.S. is expected to hold a market share, by volume, of 67.4% by 2019, registering a CAGR of 7.5% from 2014 to 2019. The exhaust system market in North America is segmented into three countries—namely, the U.S., Mexico, and Canada. The market is driven by factors such as stringent emission norms and the increasing penetration of diesel vehicles. Alternately, the increasing penetration of electric vehicles is limiting the growth of the exhaust system market. An exhaust system is a system generally used to guide exhaust gases away from the engine. It consists of four main components: the exhaust manifold, catalytic convertor, muffler, and exhaust pipe. The manifold carries the exhaust from each cylinder and combines it into one pipe. The catalytic convertor then converts harmful CO and hydrocarbons to water vapor and CO2, and finally, the gases pass through the exhaust pipe to the environment.
In terms of vehicle type, the exhaust system market is divided into passenger cars, light commercial vehicles, and heavy commercial vehicles. The North America exhaust system market was estimated to have a market size, in terms of volume, of 18,968.5 thousand units in 2014, and is expected to reach 26,954.9 thousand units by 2019, growing at a CAGR of 7.3% from 2014 to 2019.
The North America exhaust system market is divided by fuel type into gasoline and diesel fuel. The diesel fuel exhaust system market is estimated to grow at a CAGR of 12.4% during the forecast period.
Geographically, the North American region is divided into three major countries: the U.S., Mexico, and Canada. The U.S. leads the market. It is posed to grow from $3,568.1 million in 2014 to $5,641.4 million by 2019, at a CAGR of 9.6%. Mexico and Canada are expected to grow at CAGRs of 9.8% and 8.2%, respectively during the same period.
The North America exhaust system market is a competitive market, with a number of market players possessing niche technologies. As of 2014, the market is estimated to be dominated by Tenneco Inc. (U.S.), Faurecia SA (France), and Eberspacher GmbH & Co. KG. (Germany). New product launches, and partnerships, agreements, collaborations, and joint ventures are the major strategies adopted by market players to achieve growth in the North America exhaust system market.
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