Automotive Exhaust Emission Control Device Market Analysis

Automotive Exhaust Emission Control Device Market Synopsis

The Automotive Exhaust Emission Control Device Market is projected to grow from 68 USD Bn in 2021 to 108 USD Bn by 2032, exhibiting a compound annual growth rate (CAGR) 6.9% during the forecast period (2023 - 2032). The exhaust emission control device is employed in the vehicles to limit the discharge of noxious gases like carbon monoxide (CO), nitrogen oxides (NO), and hydrocarbons (HC) from engine, crankcase, carburetor, and other parts of the vehicle. The catalytic converter is exhaust emission control device containing ceramic pellets coated with a thin layer of metals like palladium and platinum. These metals act as catalyst to converts noxious gases into less toxic pollutants and helps reduce their effect on the environment. These devices are integrated into combustion chambers, intake manifolds, and ignition systems which controls exhaust emissions and advances the fuel economy of the vehicle.

The 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. However, the growing demand for electric vehicle and the ban announced by various developed and developing regions on internal combustion engine (ICE) are hindering the market growth. Furthermore, the growing disposable income from countries such as China, India, Germany, and others providing ample opportunities for the expansion and growth of this market.

The global automotive exhaust emission control device market has seen a remarkable growth. The rising production of vehicles globally in the past few years drives the growth of exhaust emission control device market significantly. The demand for commercial vehicles is extensively driven by growing industrialization and growing service sectors, which contribute in the growth of this market. Rising demand for different factors such as high-capacity catalytic converter and continuous improvement in technology are responsible for the expansion of the automotive exhaust emission control device market.

Competition amongst exhaust emission control device manufacturers is a key factor responsible for the growth of the market as manufacturers constantly focus on developing different features to differentiate their products and match the product as per the emission standards set by the government in different countries across the globe. The rising penetration of emission control devices such as three-way catalytic converter (TWC), and selective catalytic reduction (SCR) in the commercial and passenger vehicles segments is likely to drive the exhaust emission control device market during the study period.

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

Segmentation: Exhaust Emission Control Device Market

The global automotive exhaust emission control device market is segmented on the basis of device type, materials, engine type, vehicle type, sales channel and region. On the basis of device type, the market has been segmented into Gasoline Particulate Filter (GPF), Selective Catalytic Reduction (SCR), Lean NOx Trap (LNT), Diesel Oxidation Catalyst (DOC), Diesel Particulate Filter (DPF), and Three-Way Catalytic Converter (TWC). On the basis of materials, the market has been segmented into Rhodium, Palladium, and Platinum. On the basis of engine type, the market has been segmented into gasoline, diesel, and hybrid. On the basis of vehicle type, the market has been segmented into passenger cars, commercial vehicles. On the basis of sales channel, the market has been segmented into OEM and Aftermarket.

Geographically, the global automotive exhaust emission control device market has been segmented into four major regions namely North America, Europe, Asia-Pacific, and the Rest of the World. 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. Moreover, increased production and sales of automobiles is expected to further boost the demand for exhaust emission control devices in this region.

The report for global automotive exhaust emission control device market of market research future covers extensive primary research. This is accompanied with detailed analysis of qualitative and quantitative aspects by various industry experts and key opinion leaders to gain deeper insights into the market and industry performance. The report gives a clear picture of the current market scenario, which includes the historical and forecasted market size, in terms of value and volume, technological advancement, macroeconomic, and governing factors of the market. The report provides comprehensive information about the strategies of the top companies in the industry, along with a broad study of the different market segments and regions.