Latest News- Emission Control Technology Market: Automotive is expected to lead the End-user segment during 2024-2028

The Emission Control Technology Market is being driven by Growing greenhouse gas emissions from industries

The Emission Control Technology Market is expected to grow at a CAGR of 8.07% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 48.1 billion. The Euro emission standards represent a critical regulatory framework for controlling and managing harmful emissions from vehicles. Introduced in 1992, Euro 1 set the foundation with regulations targeting leaded gasoline and carbon monoxide emissions. Euro 2, established in 1997, further refined carbon monoxide limits and introduced combined nitrogen oxides (NOx) and unburned hydrocarbons (HC) limits. Euro 3, implemented in 2000, expanded regulations to include diesel particulate matter (PM) and continued refining carbon monoxide limits. These standards have significantly contributed to reducing harmful emissions from the automotive sector. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Automotive
  • Marine
  • Aerospace
  • Off-highway
  • Rolling stock
• Type
  • Gasoline
  • Diesel
• Geography
  • North America
    • US
  • Europe
    • Germany
    • UK
  • APAC
    • China
    • Japan
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growing greenhouse gas emissions from industries
• Increasing adoption of gasoline direct injection (GDI) engines in cars
• Government regulations on vehicular particulate emission levels

However, the market also witnesses some limitations, which are as follows:

• Rising demand for electric vehicles
• Technological complexities associated with emission control technologies
• High cost of implementation of emission control technologies

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Market Scope in Emission Control Technology Market Research Report

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Research Analysis Overview

The Emission Control Technology Market encompasses various technologies such as DPF, GPF, DOC, SCR, EGR, and catalytic converters, which help reduce nitrogen oxides, carbon compounds, and vehicular particulate emissions from passenger cars and industrial processes. Nanotechnology and IoT are also playing a significant role in enhancing emission control systems. In LAMEA, CO, NOx, and hydrocarbons are the primary pollutants under focus. Euro emission standards set the regulatory framework, while profit, pricing, competition, and promotions influence market dynamics. Publishers provide synthesized data on the summation of these factors for the market.

Market Research Overview

The global automotive components and equipment market encompasses businesses producing parts and accessories for various vehicle types, including passenger cars (PCs), electric vehicles (EVs), commercial vehicles (CVs), heavy-duty vehicles, off-road vehicles, motorcycles, scooters, quad bikes, and three-wheelers. According to Technavio, market size is determined by the consolidated revenue of automotive components and equipment manufacturers. Key growth drivers for this market include the rising demand for electronic control units (ECUs) and other electrical components due to the escalating sales of EVs, motorcycles, and PCs. Additionally, stringent emission regulations mandating technologies such as DPF, GPF, DOC, SCR, and EGR systems will further boost market expansion.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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