Automotive Exhaust Emission Control Device Market to Record an Exponential CAGR by 2030

Exhaust Emission Control Device Market Synopsis

The new research report by Market Research Future (MRFR) emphasizes that the global market is poised to secure a significant market valuation at a moderate 6.17% CAGR over the assessment period.

Exhaust Emission Control Device Market Drivers and Restraints

The growing stringent emission standards and rising concern over the environment safety from both the public and private sectors. On the other hand, the rising demand for electric vehicles and the ban announced by various developed and developing regions on internal combustion engines (ICE) are impeding the market growth. The need for commercial vehicles is comprehensively driven by growing industrialization and growing service sectors, which contribute to the growth of this market. Rising demand for diverse factors such as high-capacity catalytic converter and continuous improvement in technology is accountable for the expansion of the automotive exhaust emission control device market.

Furthermore, technological advancement, rising awareness from the key manufacturers in decreasing the carbon footprints, and growing usages of emission control three-way catalyst converter in automotive vehicles are set to drive the development of this market during the study period. The increasing penetration of emission control devices such as a three-way catalytic converter (TWC) and selective catalytic reduction (SCR) in the commercial and passenger vehicles market is expected to drive the exhaust emission control device market over the review period.

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Exhaust Emission Control Device Market Segmentation

The global automotive exhaust emission control device market is analyzed on the basis of device type, materials, engine type, vehicle type, and sales channel.

Based on the device type, the market has been segmented into Gasoline Particulate Filter (GPF), Lean NOx Trap (LNT), Selective Catalytic Reduction (SCR), Diesel Particulate Filter (DPF), Diesel Oxidation Catalyst (DOC), and Three-Way Catalytic Converter (TWC).

On the basis of materials, the automotive exhaust emission control device market has been segmented into Palladium, Rhodium, and Platinum.

On the basis of engine type, the automotive exhaust emission control device market has been segmented into diesel, gasoline, and hybrid.

Based on the vehicle type, the automotive exhaust emission control device market has been bifurcated into passenger cars and commercial vehicles.

On the basis of the sales channel, the market has been bifurcated into OEM and aftermarket.

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Exhaust Emission Control Device Market Regional Overview

The geographical overview of the global market has been conducted in four major regions, namely the Asia Pacific, North America, Europe, and the rest of the world (including Latin America and the Middle East and Africa).

Asia-Pacific is anticipated to lead the market over the forecast period. This is due to the augmented urbanization and growing purchase of consumers, increasing disposable income, and the existence of robust automotive manufacturing facilities in China, South Korea, Japan, and India has further fuelled the market for automotive exhaust emission control devices in this region. Constant improvement in technology for weight reduction of the automotive exhaust emission control device will further enhance the Asia-Pacific market size.

In Europe, strict emission standards for diesel and petrol vehicles such as Euro 1 to Euro 6 drive the growth for the automotive exhaust emission control device market. In addition to this, the presence of key manufacturers such as Continental Emitech Gmbh, Johnson Matthey, and Albonair GmbH are anticipated to fuel the development of this market.

North America is estimated to hold the second-highest market share in terms of value in 2017 and continue its advancement during the forecast period. This progress is attributed due to the high rate of deployment of these devices in countries such as the US and Canada.

Exhaust Emission Control Device Market Competitive Landscape