Written by Neha Patil » Updated on: October 05th, 2024
Global Automotive Exhaust Emission Control Systems Market: A Detailed Analysis
Know More:https://www.fairfieldmarketresearch.com/report/automotive-exhaust-emission-control-systems-market
The global automotive exhaust emission control systems market has shown robust growth, achieving a revenue of approximately US$35 billion in 2021. Looking forward to 2030, the market is poised for significant advancements amidst stringent regulations and evolving consumer demands for cleaner technologies.
Market Analysis in Brief
Over the last decade, the global carbon footprint has escalated dramatically, with CO2 concentrations rising from 391 ppm to nearly 480 ppm. The transportation sector, contributing nearly 14% of total carbon emissions, faces increasing regulatory pressure to curb emissions. Despite the emergence of electric vehicles (EVs), internal combustion engine (ICE) vehicles are expected to dominate for the next 2-3 decades, underscoring the continued importance of automotive exhaust emission control systems. This market sector is crucial as automakers strive to develop effective solutions to meet stringent emissions standards worldwide.
Key Report Findings
Market Size and Trends: The automotive exhaust emission control systems market reached approximately US$35 billion in 2021, driven by continual refinement of emission regulations such as The Clean Air Act (CAA), Euro 6, BS 4 and BS 6, and testing protocols like Worldwide Harmonised Light Vehicle Test Procedure (WLTP) and Real Driving Emissions (RDE).
Growth Drivers: Factors such as the tightening of vehicle emission norms globally and increasing consumer spending capacity are propelling market growth. The demand for sophisticated emission control systems is expected to grow as consumers and automakers alike prioritize reduced emissions and compliance with regulatory standards.
Challenges: The COVID-19 pandemic disrupted supply chains and manufacturing operations globally, impacting automotive component suppliers and raw material availability. Despite these challenges, there is a growing preference for private vehicles over shared mobility options, creating a short-term window of opportunity for manufacturers.
Segment Analysis: Regionally, Asia Pacific and Europe lead in automotive production and regulatory frameworks, driving demand for emission control systems like gasoline particulate filters (GPF), three-way catalytic converters (TWC), and diesel particulate filters (DPF).
Competitive Landscape: Key players in the market include Albonair GmbH, Bosch Rexroth, DENSO Corporation, Faurecia, IBIDEN Co., Ltd, and Tenneco Inc., focusing on capacity expansion and sustainable product development to strengthen their market presence.
Growth Opportunities Across Regions
The automotive exhaust emission control systems market shows promising growth prospects in regions like Asia Pacific and Europe, where favorable regulatory policies and robust manufacturing sectors support market expansion. Asian countries, in particular, offer significant growth opportunities due to their burgeoning vehicle production and investment-friendly environments.
Global Automotive Exhaust Emission Control Systems Market: A Detailed Analysis
The global automotive exhaust emission control systems market has shown robust growth, achieving a revenue of approximately US$35 billion in 2021. Looking forward to 2030, the market is poised for significant advancements amidst stringent regulations and evolving consumer demands for cleaner technologies.
Market Analysis in Brief
Over the last decade, the global carbon footprint has escalated dramatically, with CO2 concentrations rising from 391 ppm to nearly 480 ppm. The transportation sector, contributing nearly 14% of total carbon emissions, faces increasing regulatory pressure to curb emissions. Despite the emergence of electric vehicles (EVs), internal combustion engine (ICE) vehicles are expected to dominate for the next 2-3 decades, underscoring the continued importance of automotive exhaust emission control systems. This market sector is crucial as automakers strive to develop effective solutions to meet stringent emissions standards worldwide.
Key Report Findings
Market Size and Trends: The automotive exhaust emission control systems market reached approximately US$35 billion in 2021, driven by continual refinement of emission regulations such as The Clean Air Act (CAA), Euro 6, BS 4 and BS 6, and testing protocols like Worldwide Harmonised Light Vehicle Test Procedure (WLTP) and Real Driving Emissions (RDE).
Growth Drivers: Factors such as the tightening of vehicle emission norms globally and increasing consumer spending capacity are propelling market growth. The demand for sophisticated emission control systems is expected to grow as consumers and automakers alike prioritize reduced emissions and compliance with regulatory standards.
Challenges: The COVID-19 pandemic disrupted supply chains and manufacturing operations globally, impacting automotive component suppliers and raw material availability. Despite these challenges, there is a growing preference for private vehicles over shared mobility options, creating a short-term window of opportunity for manufacturers.
Segment Analysis: Regionally, Asia Pacific and Europe lead in automotive production and regulatory frameworks, driving demand for emission control systems like gasoline particulate filters (GPF), three-way catalytic converters (TWC), and diesel particulate filters (DPF).
Competitive Landscape: Key players in the market include Albonair GmbH, Bosch Rexroth, DENSO Corporation, Faurecia, IBIDEN Co., Ltd, and Tenneco Inc., focusing on capacity expansion and sustainable product development to strengthen their market presence.
Growth Opportunities Across Regions
The automotive exhaust emission control systems market shows promising growth prospects in regions like Asia Pacific and Europe, where favorable regulatory policies and robust manufacturing sectors support market expansion. Asian countries, in particular, offer significant growth opportunities due to their burgeoning vehicle production and investment-friendly environments.
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