Surpassing a valuation of ~US$ 88 Bn in 2019, the global automotive exhaust aftertreatment systems market is projected to grow at a value CAGR of 4% by the end of forecast period 2020-2030. 2019 and 2020 have been tough years for automotive sector due to the outbreak of coronavirus and unstable economic conditions globally. The sales of automotive exhaust aftertreatment systems is plummeting as the global automotive industry is integrated. However, it is foreseen that, the demand for aftertreatment systems for automotive exhaust is expected to observe positive growth due to the stringent emission regulations set by several government agencies around the world.
For instance, European countries have adopted Euro VI emission norms and developing countries like India are transitioning towards BS-VI norms. However, this rise is expected by the end of 2020 when the pandemic is brought under control and the production of automobiles ramps up.
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Diesel Particulate Filter (DPF) to Garner Significant Traction
A diesel particulate filter (DPF) is a device designed to remove diesel particulate matter or soot from the exhaust gas of a diesel engine. These filters remove nearly 85% of the particles from the exhaust and ensures efficiency and fuel economy of the vehicles. The rising environmental safety awareness and stringent emission norms is expected to drive the growth of diesel particulate filters.
In addition, rapid urbanization in the future will create new retail and e-commerce platforms which require efficient logistics, in return creating demand for light commercial vehicles.
This is therefore anticipated to create significant demand for diesel particulate filters as they are highly operated on diesel engines. Owing to the above mentioned facts, the global diesel particulate filter (DPF) is estimated to create an absolute $ opportunity of more than US$ ~14.8 Bn during the forecast period (2020-2030).
Key Takeaways of Automotive Exhaust Aftertreatment Systems Market
“Despite the spread of COVID-19 and sluggish economic growth globally, a positive outlook for production of automotive vehicles by third quarter is anticipated in developing countries like India and China which will set the tone for growth in the automotive exhaust aftertreatment systems market” says the Fact.MR analyst
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Facility Expansion to Enhance Market Resiliency
Key players in the automotive exhaust aftertreatment systems market are Bosal Group, Friedrich Boysen GmbH & Co. KG, Cummins Inc., Donaldson Company, Inc., Magneti Marelli S.p.A., Johnson Matthey, Eberspächer Group, Tenneco Inc., among others. Prominent automotive exhaust aftertreatment system market players are focusing on expanding their manufacturing facilities to increase their reach in the global market. For instance,
Find More Valuable Insights on Automotive Exhaust Aftertreatment Systems Market
Fact.MR, in its new offering, brings to fore an unbiased analysis of the global automotive exhaust aftertreatment systems market, presenting historical demand data (2015-2019) and forecast statistics for the period, 2020-2030. The study divulges compelling insights on the automotive exhaust aftertreatment systems market based on product (three way catalytic convertor, diesel particulate filter (DPF), diesel oxidation catalyst (DOC), selective catalytic reduction (SCR), gasoline particulate filter (GPF), lean NOx trap (LNT), others), vehicle (passenger car, light commercial vehicle, heavy commercial vehicle, off-highway vehicle (forestry vehicle, agriculture machinery, construction machinery, forklift), and sales channel (OEM, aftermarket), across six major regions.
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