According to the recent study the automotive emission control system market is projected to reach an estimated $81.1 billion by 2027 from $50.8 billion in 2021, at a CAGR of 8.1% from 2021 to 2027. Growth in this market is primarily driven by growth for this market are rise in vehicle production and increase in safety requirements and government regulations such as Euro emission standards.
Browse 116 figures / charts and 82 tables in this 182 -page report to understand trends, opportunities and forecast in automotive emission control system market by product type (Oxygen Sensor, EGR Valve, Catalytic Converter, Air Pump, PCV Valve, and Charcoal Canister), vehicle type (Passenger Cars, Commercial Vehicles), Fuel Type (Diesel driven Vehicle and Gasoline driven Vehicle), and region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Catalytic converter market is expected to remain the largest segment during the forecast period.”
Based on product type, the automotive emission control system market is segmented into oxygen sensor, EGR valve, catalytic converter, air pump, PCV valve, and charcoal canister. Lucintel forecasts that the catalytic converter market is expected to remain the largest segment due to helps in reducing the release of harmful gases from internal combustion engines and other components.
“Europe will dominate the automotive emission control system market in near future”
Europe is expected to remain the largest market due to stringent regulations imposed by the Government, which have driven the demand for emission control system in the European region. Asia Pacific and ROW are expected to witness significant growth over the forecast period owing to various subsidies and tax incentive schemes initiated by government to foster the growth of low emission and environment friendly vehicles.
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Major players of automotive emission control system market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Faurecia, Futaba Industrial Co, Eberspaecher, Tenneco Inc., and Yutaka Giken Co. Ltd. are among the major automotive emission control system providers.
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