Global Automotive Exhaust Aftertreatment Systems Market to Grow with a CAGR of 13.3% through 2028
Increasing
Adoption of Clean and Green Technologies, Growing Vehicle Production and
Advancements in Technology is driving the Global Automotive Exhaust
Aftertreatment Systems Market in the forecast period 2024-2028.
According to
TechSci Research report, “Automotive Exhaust Aftertreatment Systems Market –
Global Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”, the Global Automotive Exhaust Aftertreatment Systems Market
stood at USD 25 billion in 2022 and is anticipated to grow with a CAGR of 13.3%
in the forecast period, 2024-2028. The global
automotive exhaust aftertreatment systems market finds itself in a phase of
dynamic evolution and unprecedented significance. This evolution is
precipitated by mounting apprehensions about air quality deterioration and the
urgent need to combat climate change. As a direct response to these concerns,
governments and regulatory bodies across the globe have wielded their
regulatory might to impose stringent emissions standards and regulations on
vehicular emissions. The core objective: to curtail the release of harmful
pollutants into the atmosphere, which are detrimental to both human health and
the environment. Consequently, the automotive industry is in the midst of a
profound transformation, with a growing reliance on advanced exhaust aftertreatment
systems emerging as a pivotal strategy for achieving regulatory compliance and
substantially mitigating emissions.
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The global
automotive exhaust aftertreatment systems market has emerged as a critical
component of the automotive industry, driven by the imperative to mitigate
harmful emissions from internal combustion engines. In this comprehensive
market overview, we will delve into the key trends, growth drivers, challenges,
and opportunities shaping this dynamic market landscape.
The global
automotive exhaust aftertreatment systems market has witnessed remarkable
growth over the past decade, owing to several compelling factors. Foremost
among these is the imposition of increasingly stringent emission regulations by
governments across the globe. These regulations, aimed at reducing air
pollution and combating climate change, have mandated the use of advanced
exhaust aftertreatment systems to curtail emissions of pollutants such as
nitrogen oxides (NOx), carbon monoxide (CO), and particulate matter (PM).
Simultaneously,
the automotive industry has experienced sustained expansion, with a focus on
both conventional internal combustion engine (ICE) vehicles and electric
vehicles (EVs). This surge in vehicle production has naturally led to a
heightened demand for exhaust aftertreatment systems, underscoring their
significance in the modern automotive landscape.
Furthermore,
continuous technological advancements have been a driving force behind market
growth. Innovations in exhaust aftertreatment technologies, including Selective
Catalytic Reduction (SCR), Diesel Particulate Filters (DPF), and Gasoline
Particulate Filters (GPF), have resulted in systems that are not only more
efficient in reducing emissions but also more cost-effective for automakers. As
a result, the adoption of these advanced technologies has gained momentum,
particularly in regions where emission standards are stringent.
Consumer
awareness of the environmental impact of vehicles has also played a pivotal
role in market expansion. Heightened environmental consciousness has led to an
increased demand for eco-friendly vehicles, which often necessitate the
incorporation of more advanced exhaust aftertreatment systems to meet emission
targets. This evolving consumer sentiment has further propelled the growth of
the automotive exhaust aftertreatment systems market.
Anticipating
future trends, it is expected that the market will continue its growth
trajectory. This is primarily due to the enduring pressure from regulatory
bodies to further reduce emissions, the rapid expansion of the electric vehicle
market, and the persistent drive for technological innovation within the
industry.
Major companies
operating in Global Automotive Exhaust Aftertreatment Systems Market are:
- CDTi Advanced Materials Inc.
- Continental Reifen Deutschland GmbH
- Cummins Inc.
- DCL International Inc.
- Delphi Technologies PLC
- Dinex
- Donaldson Company Inc.
- ESW Group
- European Exhaust and Catalyst Ltd
- Nett Technologies Inc.
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“The
global automotive exhaust aftertreatment systems market is witnessing
remarkable growth due to increasing environmental concerns and stringent
emissions regulations. These systems play a pivotal role in reducing harmful
pollutants emitted by vehicles, aligning with global efforts to combat air
pollution and climate change. Key components, such as Selective Catalytic Reduction
(SCR) systems and Diesel Particulate Filters (DPF), are at the forefront of
emissions reduction technologies. As governments worldwide impose stricter
emissions standards, the market is evolving with innovations in catalyst
technologies, sensor integration, and the development of eco-friendly
materials. The market's trajectory remains dynamic, driven by the dual
objectives of regulatory compliance and environmental sustainability, ensuring
a greener future for the automotive industry.,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based management consulting firm.
“Automotive Exhaust
Aftertreatment Systems Market – Global Industry Size, Share, Trends,
Opportunity, and Forecast, 2018-2028 Segmented By Vehicle Type (Passenger Cars
and Commercial Vehicles), By Fuel Type (Gasoline and Diesel), By Sales Channel
(OEM, Aftermarket), By Region, By Competition.”, has evaluated
the future growth potential of Global Automotive Exhaust Aftertreatment Systems
Market and provides statistics & information on market size, structure, and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Automotive Exhaust
Aftertreatment Systems Market.
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