Asia-Pacific is the leading producer of automobiles globally. The increasing vehicle demand and upcoming stringent emission norms in countries, such as India and China are expected to drive the demand for exhaust systems in Asia-Pacific.
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The automotive exhaust system is one of the most advanced and important components of a vehicle. The primary function of an exhaust system is to remove toxic gases and fumes from a vehicle. The components of an exhaust system are a series of pipes, catalytic converters, sensors, mufflers, and often a resonator, as well as other emission devices. The implementation of stringent emission regulations has led to automotive original equipment manufacturers (OEMs) to focus on vehicles that burn the least possible amount of fuel, yet provide the required amount of power. Automotive OEMs have developed several powertrain technologies that can help them increase fuel efficiency, and in turn lower the emissions. This has consequently led to the innovation of new and advanced exhaust technologies as well.
The demand for exhaust systems is largely dependent on vehicle production. The rise in vehicle production in developing countries, such as India, China, and South Korea is expected to result in the rise in demand for exhaust systems in these countries. The exhaust system market in Asia-Pacific is primarily driven by the increased purchasing power of the population in this region. Asia-Pacific has also been perceived as a huge automotive hub with immense growth opportunities owing to the availability of resources, such as land and labor.
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The Asia-Pacific exhaust system market is segmented on the basis of fuel type, vehicle type, and geography. By fuel type, the market is further segmented into gasoline and diesel. The demand for exhaust systems differs based on the fuel type. Based on vehicle type, the market is segmented into passenger car, light commercial vehicle, and heavy commercial vehicle. The exhaust system market is also segmented based on the major countries in the Asia-Pacific region, such as China, Japan, South Korea, India, and others, considering the increased production and demand of automobiles in these countries.
