The statistics portray the growing production of heavy commercial vehicles in the U.S. backed by the surge in the sales of the heavy commercial vehicles during the recent past and the increasing demand for heavy commercial vehicles from several industries. The exhaust manifolds enhance the vehicle engines’ efficiency.
Moreover, the significant properties of advanced materials that allow to enhance the efficiency of the exhaust system of engines and the change in focus among the manufacturers of automotive parts to manufacture lightweight spare parts using advanced alloys are some of the factors that are anticipated to drive the growth of the U.S. aftermarket for exhaust manifolds for the heavy-duty truck market.
Research Nester has released a report titled “U.S. Aftermarket For Exhaust Manifolds For Heavy Duty Trucks Market – Demand Analysis & Opportunity Outlook 2028” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.
In the statistics of the International Organization of Motor Vehicle Manufacturers (OICA), production of heavy commercial vehicles in the U.S. observed an increase by 5.6% from the year 2018 to reach nearly 346, 366 units in the year 2019.
The U.S. aftermarket for exhaust manifolds for the heavy-duty truck market is anticipated to record a CAGR of 5.76% during the forecast period, i.e. 2020-2028, backed by the growing demand for aftermarket vehicle spare parts from the transportation and logistics industries, rising demand for heavy-duty vehicles in the automotive industry, and the increasing implementation of stringent regulations by the U.S. government for their focus to reduce emissions from heavy-duty vehicles. The market is further projected to reach $66.0 million by the end of 2028 from a value of $46.9 million in the year 2019.
The U.S. aftermarket for exhaust manifolds for the heavy-duty truck market is segmented by material into stainless steel and cast iron. Among these segments, the cast iron segment registered the largest market share in the year 2019 and is further projected to reach $66.0 million by the end of 2028 from a value of $46.9 million in the year 2019 as they possess numerous benefits that include high durability, long shelf life and low price among others. The segment is further projected to grow with a CAGR of 5.76% during the forecast period. On the other hand, the stainless-steel segment is anticipated to grow with the highest CAGR of 6.85% during the forecast period.
However, concerns regarding the few non-supportive properties of stainless-steel, that can pose a threat to the exhaust system of engines and the high cost of stainless-steel exhaust manifolds which hampers its adoption, are some of the factors anticipated to lower the growth of the U.S. aftermarket for exhaust manifolds for the heavy-duty truck market.