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Automotive Exhaust Aftertreatment Systems Market Boosting the Growth Worldwide at a CAGR of 4 % from 2020 to 2030
Automotive Exhaust Aftertreatment Systems Market
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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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Key Takeaways of Automotive Exhaust Aftertreatment Systems Market
The global automotive exhaust aftertreatment systems market is projected to create an absolute $ opportunity of more than ~US$ 42.3 Bn and is anticipated to surpass a value of ~US$ 131.1 Bn during the forecast period
East Asia is projected to account for major share of the market as compared to the rest of the regions, accounting for 37.5% share by the end of forecast period
OEM sales channels are projected to grow 4X faster than aftermarket sales channel and is anticipated to create an absolute $ opportunity of more than ~US$ 32.9 Bn during the forecast period
Amongst all product types, diesel particulate filters (DPF) accounted for ~47% of the demand pie in 2020
“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,
In 2020, the Bosal Group has invested heavily to upgrade and relocate its new OEM manufacturing Emission Control System (ECS) plant in Koedoespoort Industrial, Pretoria. With the expansion, the company intends to double its revenues from the MEA region
In 2020, Magneti Marelli expanded its new research and development center in Turin. With that expansion, the company is focusing on innovating new technologies in the field of Lighting and Body Electronics (LBE).
In 2018, Friedrich Boysen GmbH & Co. KG expanded its business unit in Pune, India. With this expansion, the company is targeting the growing demand for emission control systems in India and also increase its revenue in Asia Pacific region
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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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