Moreover emission control regulations by government and increase in automobile production drive the growth of market.
PORTLAND, OR, UNITED STATES, October 26, 2021 /EINPresswire.com/ — Emission Control Technology Market Outlook – 2025
The global emission control technology market size was valued at $91,540 million in 2017 and is projected to reach $160,314.9 million by 2025, registering a CAGR of 7.3% from 2018 to 2025. In 2017, Asia-Pacific accounted for the highest emission control technology market share.
Emission control technologies are installed to reduce the emission of harmful pollutants such as unburned hydrocarbons, carbon monoxide, oxides of nitrogen, and others. Technologies such as diesel particulate filter (DPF), gasoline particulate filter (GPF), diesel oxidation catalyst (DOC), selective catalytic reduction (SCR), exhaust gas recirculation (EGR), and others are installed to control the emission of pollutants in the ecosystems. Government of various countries are setting up strict regulations to meet the emission standard and to achieve clean air goals. Diesel particulate filters and gasoline particulate filters are used to capture the particulate matter in the filter and control their emission in the atmospheres. Whereas, selective catalytic reduction and exhaust gas recirculation are used to reduce emission of nitrogen oxides. In addition, diesel oxidation catalyst is used to the release of harmful carbon compounds in ecosystems.
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Major Market Players:
• BASF SE
• Clean Diesel Technologies, Inc
• Corning Incorporated
• DCL International Inc.
• Johnson Matthey
• Tenneco Inc.
Moreover emission control regulations by government and increase in automobile production drive the growth of market. In addition, adoption of nanotechnology in catalytic converters is anticipated to propel the growth of the emission control technology market. However, growth in production of electric vehicles and high cost of emission control technology is expected to hinder the growth of the market. Furthermore, innovations in emission control catalysts and government initiatives for emission reduction in developing nations holds a remarkable growth opportunity for the players operating in the emission control technology market.
The emission control technology market report is segmented based on technology, fuel type, end-user vertical, and region. Technology is categorized as diesel particulate filter (DPF), gasoline particulate filter (GPF), diesel oxidation catalyst (DOC), selective catalytic reduction (SCR), exhaust gas recirculation (EGR), and others. Fuel type is divided into diesel and gasoline. End-user vertical is classified as automotive, marine, off-highway, rolling stock, and industrial. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Emission Control Regulations By Government
Government has established stringent regulation for pollutant gas emission from the vehicles because of combustion of fuels such as diesel fuel, fuel oil, petrol, gasoline, biodiesel, and others. Euro 6 is a latest emission regulation by European union directive to reduce harmful gases such as carbon monoxide(CO), nitrogen oxide(NOx), hydrocarbons, and others from exhaust system of the vehicle. Similarly, emission control technology is used in catalyst converters, an emission control device used to convert toxic and harmful gases from engines into less-toxic pollutant and help to meet the government emission standards. This fuels the growth of the emission control technology market.
Increase In Automobile Production
Developing nations witness a rise in demand and production of automobile. For instance, India became the fourth largest automobile industry in the world with the increase in sales of 9.5% year-on-year to 4.2 million units. This rise in automobile production in the developing nations automatically leads to increased production in demand for emission control technology for emission control devices in automobile exhaust systems. Therefore, increase in automobile production is anticipated to boost the growth of the emission control technology market.
Key Benefits For Emission Control Technology Market:
• This study presents the analytical depiction of the emission control technology market analysis along with the current trends and future estimations to depict the imminent investment pockets.
• The overall market potential is determined to understand the profitable trends to gain a stronger foothold.
• The report presents information related to the key drivers, restraints, and opportunities of the market with a detailed impact analysis.
• The current emission control technology market is quantitatively analyzed from 2017 to 2025 to benchmark the financial competency.
• Porters five forces analysis illustrates the potency of the buyers and suppliers in the industry.
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Source: EIN Presswire