Market
Synopsis
The
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 Restraints
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. 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.
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).
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Market
Segmentation
- 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
Overview
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. 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.
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Major
Highlights of TOC Covers:
- Executive Summary
- Key Business Trends
- Regional Trends and Growth
- Product Trends
- End-use Trends
- Definition and Forecast Parameters
- Automotive exhaust emission control device Market Segmentation
- Automotive exhaust emission control device Market Landscape
Continued…
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