Tailpipe emissions caused by ICE vehicles is one of the major contributors to global pollution levels. The release of harmful gases such as carbon monoxide (CO), carbon dioxide (CO2), nitrogen oxides (NOX) and particulate matter cause various respiratory issues among the public while triggering rise in temperatures due to their heat-absorption properties. These factors have been an area of concern for environmental organizations throughout the world. This has led to innovations and regulations to curtail tailpipe emissions and has helped in the creation of demand across the sector.
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Although electric and hydrogen mobility have caught up drastically in terms of real-life implications and adoption, ICE vehicles are still expected to be in majority for the next 30 years. These factors are a testimony to the lucrative opportunities floating in the global market.
COVID-19 Induced Production Stagnation; Onset of Recovery Likely in the Next Couple of Years
During the coronavirus pandemic, global supply chains were heavily disrupted. This led to a slowdown in the production and supply of automobiles - a sector that heavily relies on a globally diverse supply chain. In the year 2020, automotive heavyweights such as Fiat, Volkswagen, General Motors, and BMW even had to suspend their production. As of today, the production and supply have slowly gained momentum, thanks to vaccine efforts. As for the recovery, pre-COVID production numbers are not expected to be hit until the year 2023 as per estimates. It is, however, logical to expect a post-pandemic boom in sale of automobiles, giving a thrust to global market growth.
ICE Vehicle Regulations to Play an Underhanded Role in Market Expansion
Vehicular emissions from ICE vehicles have been under increasing scrutiny via strict regulations. Constant tweaks in the Clean Air Act, the introduction of Euro 6, BS4 and BS 6, and test methods like Worldwide Harmonised Light Vehicle Test Procedure (WLTP) and Real Driving Emissions (RDE) further the agenda. These factors drive auto manufacturers to adapt and innovate emission control systems as per the regulations, thus inducing market demand.
Catalytic Converters Emerge as a Popular Emission Control System
Over the years, various emission control systems have been developed to be used as alternatives or in combination to achieve the desired emission levels. The most common exhaust emission control devices are Catalytic Converters, amounting to almost 50% market share globally. It chemically cleanses tailpipe emissions before they are released into the environment. Other solutions include Diesel Particulate Filter, Diesel Oxidation Catalyst, Selective Catalytic Reduction, and Three-Way Catalytic Converters.
Economic Growth in Asia-Pacific to Lead to Augur Automobile Buying Propensity
Several Asian countries have witnessed significant growth in the automotive sector, especially China, as it has grown up to become the world’s largest automotive market. This is mainly due to the countries’ manufacturing prowess, steady economic growth, and personal mobility adoption. The by-product of this trend is an increase in demand in the emission control systems market and prospects for local manufacturing and assembly of catalytic converters locally.
Some of the prominent names pertaining to the global emission control systems market are Calsonic Kansei Corporation, Faurecia, DENSO Corporation, Eberspacher Climate Control Systems GmbH & Co., and Continental Emitech GmbH Friedrich Boysen GmbH & Co. KG.
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Market SynopsisThe Global Automotive Exhaust Emission Control Device Market is poised to secure a significant market valuation at a moderate 6.3% CAGR over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR).Drivers and RestraintsThe major key driving factors for the growth of this market are the rising stringent emission standards and growing concern over the environment safety from both 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.
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.Competitive Landscape The top market players identified by MRFR in the global exhaust emission control device market are Denso Corporation (Japan), Albonair GmbH (Germany), Continental Emitech Gmbh (Germany), Johnson Matthey (UK), Bosal (Belgium), CDTi Advanced (California), Bosch Rexroth (Germany), Eberspächer (Germany), Tenneco Inc. (USA), and Faurecia (France).Get Free Sample Report @ https://www.marketresearchfuture.com/sample_request/7191 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.On the basis of 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.
Regional OverviewThe 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.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.
