The world has witnessed a dramatic rise in air pollution across the globe. This rise is due to the rapid increase in the automobile, construction, and industrialization. According to the World Health Organization, around 91% of the world population lives in places where the pollutants exceed the prescribed limits.
Moreover, pollution from residential is also emerging as a major challenge. More than 3.8 million people die every year due to household exposure to smoke from fuels and dirty cookstoves. Also, the emission from the construction industry, Aerospace, Rolling Stock leads to a dramatic rise in air pollution.
According to MarkNtel Advisors’ research report “Global Emission Control Technology Market Analysis, 2020”, the global emission control technology market is anticipated to grow at a CAGR of around 7.91% during 2020-25. North America and Europe region cumulatively dominate the global emission control technology market on account of rising motor vehicle production and industrial construction. Moreover, the government’s regulation for the greenhouse gas emission from industries and powerplants is helping the emission control technology market to grow.
Additionally, by fuel type diesel segment grabbed the major market share in 2019 due to the more energy production per liter. According to the International Council on Clean Transportation, diesel engines in Europe are considered as efficient and clean vehicle technology.
North America to Dominate the market
In 2019, the global emission control technology market is majorly captured by North America on account of investment in infrastructure, powerplants that lead to the increasing emission, therefore, the emission control technology’s demand emerging majorly from the region. In 2019, the government of America proposed a budget that would invest USD1.5 trillion in the public and private infrastructure investment until 2029.
Moreover, the investments from the international investor in the region are adding pace to the emission control technology in North America. For Instance, Macquarie, an Australian investment bank announced to invest USD5 billion for the investment in infrastructure in North America.
The global emission control technology market is competitive. Major players operating in the market are BASF, Clean Diesel Technologies, Inc., Clariant, Cormetech, Corning Incorporated, DCL International Inc., Johnson Matthey, etc. The players in the industry are investing in technology and expanding geographical coverage to remain competitive in the market. For instance, BASF invested in a production facility in China for the emission control technology from the light and heavy-duty vehicle manufacturer.
Key Questions Answered in the Market Research Report
Market Outlook, Segmentation and Statistics
Frequently Asked Questions
Q. What is the historical year, base year and forecast year considered in the research report on Global Emission Control Technology Market?
A. The historical data has been provided since 2015, while the base year is 2019 and the data is forecast up-to 2025.
Q. What are the units or denomination for measuring market value in the report?
A. The market size/industry size or the market value is measured in terms of USD Million.
Q. What would be the growth rate or CAGR of Global Emission Control Technology Market during 2020-25?
A. The growth rate of Global Emission Control Technology Market during 2020-25 is forecast to be around 7.91%.
Q. Which region would grab the highest market share during 2020-25?
A. It is forecast that North America will dominate the market with majority market share, with market size registering considerably higher CAGR.
Q. Who are the key competitors or players operating in Global Emission Control Technology Market?
A. BASF, Clean Diesel Technologies, Inc., Clariant, Cormetech, Corning Incorporated, DCL International Inc., Johnson Matthey are few of the leading players in the Global Emission Control Technology Market.
Q. Which Fuel Type segment would emerge as an opportunity area for players in Global Emission Control Technology Market?
A. The Disel Type grabbed a significant market share continue to grow at a highest CAGR, presenting immense opportunities for manufacturers and suppliers of Global Emission Control Technology Market.
