The growing concern on the greenhouse gases emission from the transportation, power generation, industrial, and commercial & residential sector, the governments across the various regions announced several regulations which would help the emission control technology market to grow.
Moreover, the rising demand for electricity coupled with the growing number of power plants across the globe is resulting in the rise in air pollution.
Moreover, the construction activities across the globe are snowballing at an astronomical pace. The expansion of cities, urbanization, migration, and economic diversification would lead to more greenhouse gas emissions.
According to the MarkNtel Advisors’ research report, “Global Emission Control Technology Market Analysis, 2020”, the global emission control technology market is set to grow at a CAGR of around 7.91% from 2020-25. North America and Europe hold the major market share in 2019 due to a large number of automobile production and power plants in the regions. According to the American Automotive Council, auto production in the U.S is expected to cross 11.5 million vehicles per year by 2021 and more than 12 million vehicles by 2025.
Europe being the major automobile production is giving stiff competition to North America. According to the International Organization of Motor Vehicle Manufacturer, automobile production in European countries such as Austria, Portugal increased 69.9%, and 67.7% respectively from 2017 to 2018. Moreover, the continuous investment in infrastructure and construction in countries such as the U.S, Brazil, China, Saudi Arabia, and India in the areas of residential, commercial & retail and aerospace would lead to the rise in air pollution. Therefore, the market of emission control technology would grow in 2020-25.
Also, the selective catalytic reduction (SCR) grabbed the major market in the global emission control technology market on accounts of the launched policies and regulations by the government such as Euro 6 which uses the selective crystal reduction technology (SCR) for the NOX emission reduction.
Expansion of Production Facility to expand Geographical Coverage
According to MarkNtel Advisors, with the rise in air pollution, several competitors across the globe are entering the market which makes the market quite competitive. Moreover, the existing players are expanding production facilities to increase the geographical reach.
For Instance, in 2018, BASF invested in 30,000 square meter production facility in China for mobile emissions catalysts which would provide the emission control technology for the light and heavy-duty vehicle manufacturers. The global emission control technology market is majorly captured by the companies BASF, Clean Diesel Technologies, Clariant, Cormetech, Corning incorporated, DCL International Inc. Johnson Matthey.
“Global Emission Control Technology Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the market potential, regional opportunities, key factors impacting sales and purchase decision, hotspots and opportunities available for emission control technology providers across the globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the competition assessment, formulation of Go To Market Strategies and identifying the blue ocean for their offerings.
1. By Technology (Diesel Particulate Filter, Gasoline Particulate Filter, Diesel Oxidation Catalyst, Selective Catalytic Reduction, Exhaust Gas Recirculation, Others)
2. By Fuel Type (Gasoline, Diesel)
3. By End-users (Automotive, Industrial, Aerospace, Rolling stock, Off highway, Others)
4. By Region (North America, South America, Europe, Asia-Pacific, Middle East, and Africa)
5. By Countries (U.S, Canada, Mexico, Brazil, Germany, France, Italy, The U.K, China, India, Japan, South Korea, Saudi Arabia, UAE, Turkey, Qatar, Egypt, South Africa)
6. By Competitors (BASF, Clean Diesel Technologies, Inc., Clariant, Cormetech, Corning Incorporated, DCL International Inc., Johnson Matthey, etc.)
Key questions answered in the study
1. What are the current and future trends of the Global Emission Control Technology Market?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. What are the future plans and customer expectations of end-users across the globe?
4. How the competition has been shaping across the countries followed by their comparative factorial indexing?
5. What are the key growth drivers and challenges for the Global Emission Control Technology Industry?
6. What are the customer orientation, purchase behavior, and expectations from the Emission Control Technology providers across various regions?