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Automotive Exhaust System Market Growth in Business Future Scenarios and Brief Analysis of Top Key Player
Automotive Exhaust System Market
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Chief reasons for market fluctuations
Stringent government regulations for emission control, rise in automobile production, and adoption of nanotechnology in catalytic converters drive the growth of the global automotive exhaust system market. However, growing electric vehicle production and the high cost of automotive catalysts hamper the market growth. On the contrary, innovations in automotive catalysts and government initiatives in developing nations for emission reduction are expected to create lucrative opportunities in the industry.
The gasoline particulate filter (GPF) segment dominated the market
Based on technology, the gasoline particulate filter (GPF) segment held the largest share in 2018, contributing to more than three-fifths of the global automotive exhaust system market. This is attributed to an increase in demand for gasoline vehicles in the developing countries and imposement of regulations. However, the selective catalytic reduction (SCR) segment is expected to register the fastest CAGR of 12.0% during the forecast period, owing to the increase in the stringency toward tailpipe emission and stringent stricter emission control regulations such as EURO VI.
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The diesel segment to portray fastest growth by 2026
Based on fuel type, the diesel segment is expected to register the fastest CAGR of 7.9% during the forecast period. This is attributed to government initiatives to encourage the use of public transport. However, the gasoline segment dominated the global automotive exhaust system market in 2018, accounting for more than three-fourths of the market. The rise in adoption of passenger cars and light commercial vehicles, powered by gasoline in developed countries, is expected to drive the growth of the segment.
Asia-Pacific to lead throughout the forecast period
The market across Asia-Pacific held the largest share in 2018, accounting for more than half of the market. The region is expected to maintain its dominance throughout the forecast period, supported by a CAGR of 7.7%. The rise in population and increase in demand for automobiles drive growth in the region. On the other hand, North America is anticipated to register a CAGR of 5.4% during the forecast period.
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Major market players
* Umicore
* Johnson Matthey
* Tenneco Inc
* BOSAL
* BASF SE
* BENTELER International
* Eberspcher
* Sejong Industrial Co., Ltd
* Klarius Products Ltd
* Faurecia
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Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.
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