Wilmington, Delaware, United States, Feb. 23, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global automotive exhaust emission control device market is estimated to surge at a CAGR of 2.2% from 2023 to 2031. Transparency Market Research projects that the overall sales revenue for automotive exhaust emission control device is estimated to reach US$ 63.5 billion by the end of 2031.
Growing demand for aftermarket emission control devices, driven by vehicle fleet maintenance and regulatory compliance, creates new opportunities for manufacturers and distributors in the automotive aftermarket sector.
Increasing urbanization and traffic congestion in major cities worldwide intensify the need for effective emission control solutions, fostering market demand for innovative exhaust emission control devices tailored for urban driving conditions.
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Collaboration between automotive OEMs, technology providers, and environmental organizations fosters innovation and the development of integrated emission control solutions that address broader sustainability challenges.
Shifts in consumer preferences, geopolitical factors, and economic conditions in emerging markets influence market dynamics and demand patterns for emission control devices, prompting manufacturers to adapt strategies to evolving market trends and conditions.
Key Findings of the Market Report
- The three way catalytic converter segment leads the automotive exhaust emission control device market due to its widespread application.
- Gasoline engine type segment leads the automotive exhaust emission control device market due to its prevalence and emissions control requirements.
- Platinum leads the automotive exhaust emission control device market, prized for its catalytic properties and effectiveness in reducing harmful emissions.
Automotive Exhaust Emission Control Device Market Growth Drivers & Trends
- Rising environmental concerns and stricter emission standards worldwide drive the demand for advanced automotive exhaust emission control devices.
- Continuous advancements in emission control technology enhance efficiency, durability, and performance of exhaust emission control devices, fostering market growth.
- Growing emphasis on environmental sustainability encourages the adoption of cleaner and greener emission control solutions in the automotive industry.
- Rising global vehicle sales and production rates contribute to the growing demand for automotive exhaust emission control devices across different regions.
- Heavy investments in research and development initiatives drive innovation and the development of next-generation emission control technologies, shaping market trends and competitiveness.
Global Automotive Exhaust Emission Control Device Market: Regional Profile
- In North America, stringent emissions regulations drive the adoption of advanced emission control devices. Companies like Tenneco Inc. and Johnson Matthey focus on developing innovative solutions to meet environmental standards while ensuring optimal engine performance. A robust automotive aftermarket industry further fuels demand for emission control components.
- Europe leads the charge in emissions reduction with its rigorous emission standards and environmental initiatives. Market leaders such as Faurecia and Continental AG invest in research and development to create efficient exhaust emission control systems. Government incentives and consumer awareness programs promote the adoption of cleaner technologies, fostering market growth.
- The Asia Pacific region emerges as a key growth engine propelled by rapid industrialization, urbanization, and increasing vehicle sales. Countries like China and India witness a surge in demand for emission control devices to combat air pollution. Local players like Eberspächer Group and Benteler International AG capitalize on the growing market, offering tailored solutions to meet regional requirements.
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Automotive Exhaust Emission Control Device Market: Competitive Landscape
The automotive exhaust emission control device market is fiercely competitive, with key players like Faurecia, Tenneco Inc., and Bosal International NV dominating the industry. These companies leverage their extensive expertise and global presence to offer innovative solutions for reducing vehicle emissions and meeting stringent regulatory standards worldwide.
Emerging players such as Eberspächer Group and Benteler International AG also contribute to market dynamics, introducing novel technologies and expanding market reach. With a focus on sustainability and technological advancement, competition in this market revolves around delivering efficient and cost-effective solutions to address the growing concerns surrounding automotive emissions and environmental impact.
Some prominent players are as follows:
- Johnson Matthey
- FORVIA Faurecia
- Eberspächer Gruppe GmbH & Co. KG
- DENSO Corporation
- Friedrich Boysen GmbH & Co., KG
- Marelli Corporation
- Yutaka Giken Company Limited
- Bosal
- Katcon SA de CV
- CDTi Advanced Materials, Inc.
- Jetex Exhaust Ltd.
- SANGO Co., Ltd.
- Emitec Technologies GmbH
- Tenneco Inc
- Albonair GmbH
- IBIDEN
- Corning Incorporated
Product Portfolio:
- Friedrich Boysen GmbH & Co., KG specializes in the design and manufacturing of high-performance exhaust systems and components for automotive applications. Renowned for their expertise and precision engineering, Boysen exhaust solutions deliver superior performance, durability, and environmental sustainability, meeting stringent industry standards globally.
- Marelli Corporation is a global leader in automotive technology, providing innovative solutions in lighting, powertrain, electronics, and aftermarket services. With a commitment to excellence and customer satisfaction, Marelli delivers cutting-edge products and systems that redefine automotive performance, safety, and efficiency in the modern automotive landscape.
Automotive Exhaust Emission Control Device Market: Key Segments
By Device Type
-
- Three Way Catalytic Converter (TWC)
- Diesel Particulate Filter (DPF)
- Selective Catalytic Reduction (SCR)
- Diesel Oxidation Catalyst (DOC)
- Lean NOx Trap (LNT)
- Gasoline Particulate Filter (GPF)
By Engine Type
-
- Gasoline
- Diesel
- Hybrid
By Material Type
-
- Platinum
- Palladium
- Rhodium
By Vehicle Type
-
- Passenger Vehicle
- Commercial Vehicle
By Sales Channel
-
- OEMs
- Aftermarket
By Region
- North America
- South America
- Asia Pacific
- Europe
- Middle East & Africa
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