Light
vehicle exhaust systems are installed in vehicles to reduce the noise
created by the vehicle’s engine. The systems help in enhancing the
drivability, fuel economy, and overall power of the light vehicles.
The indigenous models of exhaust systems, such as a simple duct
system, could only inhibit toxic exhaust gases from entering the
light vehicles. However, the implementation of stringent emission
control regulations and a paradigm shift in consumer preference have
increased the demand for lightweight and more compact vehicle exhaust
and emissions systems.
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Impact
of Stringent Government Policies on Light Vehicle Exhaust and
Emissions Systems
The
Federal and state governments in the U.S. have enacted and deployed
stringent standards for noise pollution control. For instance, the
Federal Noise Control Act was one of the most noted nationwide laws
introduced by the Federal government to regulate noise created by
light vehicles. Similar laws have been also introduced in Australia
to regulate the noise levels of light vehicles. Such regulations have
fuelled the demand for light vehicle exhaust and emissions systems
around the world.
The
global light vehicle exhaust and emissions systems market is
segmented into opposite dual exhaust, dual side exhaust, dual rear
exit, and single exit pipe, in terms of type. Of these, single exit
pipe systems have only one exhaust pipe, through which it releases
the exhaust gases away from the engine. Dual rear exit differs from
single exit pipes in terms of the number of pipes. Some of the major
components of exhaust systems installed in light vehicles include
mufflers, filters and catalytic converters, hangers, and decoupling
elements.
Emerging
Economies in Asia Pacific to Emerge as Lucrative Markets
The
demand for light vehicle exhaust and emissions systems is expected to
be the highest from regions including North America, Asia Pacific,
and Europe. The U.S. is anticipated to remain one of the most
lucrative markets for the systems.
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The
high population of China, coupled with increasing demand for
lightweight vehicles, will create impressive opportunities for the
light vehicle exhaust and emissions systems market in the country.
Furthermore, the demand for these systems will also be high across
countries such as South Korea and Germany, since they are witnessing
robust economic growth. Increased spending on commercial
infrastructure and rapid expansion of the automotive industry in
Japan will also augment the demand for light vehicle exhaust and
emissions system from the country.
A
major share of the global population is located in the emerging
economies of Asia Pacific. This aids the exponential growth of the
automotive industry. Governments across these nations have increased
their funding to improve infrastructure and provide a balanced view
of parking for better management of road traffic and congestion.
Furthermore, implementation of stringent pollution control emissions
has impelled carmakers to deploy the latest technologies such as
light vehicle exhaust and emissions systems in the cars they
manufacture. Such factors are boosting the global market for light
vehicle exhaust and emissions systems.
Some
of the prominent companies operating in the light vehicle exhaust and
emission systems market are Borla, Gibson Performance, Inc.,
Magnaflow, MBRP Inc., are Flowmaster, Inc., JBA Performance Exhaust,
advanced FLOW engineering, Inc., Gale Banks Engineering. INC., and
Gibson Performance, Inc.
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