Asia-Pacific is estimated to hold the highest revenue market share throughout the forecast period owing to growing urbanization and growing purchasing power of consumers.

12/feb/2020 09:14:30 Automotive Market Research Reports Contatta l'autore

Automotive Emission Control Technology Market is used on all types of internal combustion engines to convert toxic gases and pollutants.  Automotive exhaust emission control technologies take their roots in air pollution problems since their introduction in 1970, following the Clean Air Act (CAA) and vehicle emission standards.

Since then, automotive exhaust emission control device has been serving a range of passenger cars and commercial vehicles. Resultantly, the device witnesses a massive demand across the automotive sector, and it's market witnesses enormous growth. Moreover, factors such as increasing demand for fuel-efficient vehicles escalates it's market on the global platform.

Considering the exponential growth, this market is capturing continually, Market Research Future (MRFR) in its recently published study analysis asserts that the global automotive exhaust emission control device market will perceive an outstanding growth by 2023, registering a fabulous CAGR throughout the anticipated period (2018 – 2023).

Additional factors that are supporting the market to accrue further include the recent shift in the focus of automakers to reduce emission level by installing the device in vehicles.

Furthermore, the trends identified as driving forces of the market include the increasing urbanization and the improving economic conditions that are increasing consumers' purchasing power. Also, factors such as growing concern towards mitigation of the ill effects of pollution alongside the stringent regulations imposed by various government agencies are expected to propel market growth, creating a huge demand for the device.

Conversely, factors such as the growing demand for electric vehicle (EVs) and the stringent regulations imposed by governments on internal combustion engine (ICE) are obstructing the growth of the market. Also, the fluctuating price of this automotive exhaust emission control device due to limited supply is a key factor impeding the market growth, resulting in the increased cost of the device. Nevertheless, rising investments made by key manufacturers are estimated to support the growth of the market over the estimated period.

Major Players:

Key players leading the global automotive exhaust emission control device market include Johnson Matthey (UK), Denso Corporation (Japan), Continental Emitech Gmbh (Germany), CDTi Advanced (California), Bosal (Belgium), Eberspächer (Germany), Tenneco Inc. (USA), Bosch Rexroth (Germany), Faurecia (France), and Albonair GmbH (Germany) among others.

Industry/ Innovation/ Related News

May 02, 2019 --- Johnson Matthey (the UK), a multinational specialty chemicals and sustainable technologies company launched its new Mining CRT system, designed to control emissions from diesel underground mining equipment. The Continuously Regenerating Trap (CRT) system can eliminate 99% of particulates which is why it is considered as an important factor in controlling both diesel particulate matter and NO2 emissions from diesel underground mining equipment and vehicles.

Automotive Exhaust Emission Control Device Market   - Regional Analysis

The Asia Pacific region, heading with the increased expenditure in innovation, leads the global automotive exhaust emission control device market with the largest share. The region is expected to retain its dominance throughout the forecast period. Rapidly expanding automotive manufacturing and OEM industries are expected to foster the growth of the regional market.

Moreover, factors such as the augmenting demand for the device led by the stringent regulations regarding the pollution-emitting resources, especially in rapidly emerging markets of India, China, Vietnam, Japan, and South Korea substantiates the growth of the regional market.  Furthermore, growing urbanization and purchasing power of consumers are further projected to boost the demand for the device in this region.

Increased production and sales of automobiles are expected to support the APAC automotive exhaust emission control device market to grow at a significant CAGR during the review period (2018 to 2023).

European automotive exhaust emission control device market accounts for another lucrative market, globally. Some of the European countries such as France, Italy, Spain, the UK, and Germany, backed by the stringent emission regulations, such as Euro 6, have emerged as the prominent consumer market of the device.

Moreover, the presence of a well-established automotive sector is driving the market in the region. Additionally, continuous growth in automotive production, mainly in Germany, is expected to support the automotive exhaust emission control device market in the region to register a healthy CAGR.

The North American automotive exhaust emission control device market is emerging as a promising market, globally. Factors such as the rising environmental concern and well-spread awareness regarding the harmful aspects of pollution are driving the regional market.  Also, the stringent norms implemented by the Environmental Protection Agency (EPA) pertaining to controlling the VOC emission levels in vehicles propel the regional market.

U.S, Canada, and Mexico backed by the presence of major OEMs account for the major contributors to the market in the region. Moreover, increasing production capacities, high consumption potential, and the well-developed economy are expected to drive the market in the region.

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