Emission Control System Market Is Estimated To Climb US$ 163.5 Billion By 2034: Fact.MR Report

Technological Innovations and Need for Regulatory Compliance Increasing Importance of Emission Control Systems: Fact.MR Report

ROCKVILLE, MD, UNITED STATES, May 9, 2024 /EINPresswire.com/ -- The global emission control system market is estimated to account for a valuation of 94.82 billion in 2024 and reach US$ 163.5 billion by the end of 2034. Demand for emission control systems is projected to increase at a CAGR of 5.6% through 2034. Rising environmental concerns, stricter emission rules, and the growing desire for vehicles that are cleaner and more efficient are driving the significant rise of the global market for emission control systems.

Power generation units as well as industrial gear and automobile production are only a few of the sources of dangerous pollutants that are mitigated by emission control systems. These systems include a variety of technologies that reduce emissions of nitrogen oxides (NOx), particulate matter, hydrocarbons, and carbon monoxide.

Catalytic converters, diesel particle filters, exhaust gas recirculation (EGR), selective catalytic reduction (SCR), and other technologies are among those used in these systems to reduce emissions of nitrogen oxides (NOx), particulate matter, hydrocarbons, and carbon monoxide. The main end-use categories are automotive & transportation, marine, aerospace, industrial, and others. The automotive & transportation segment holds a dominant share of the market in 2024.

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Key Takeaways from Market Study

The global emission control system market is projected to expand at a CAGR of 5.6% through 2034. Sales of emission control systems are estimated at US$ 94.82 billion in 2024.

The market is forecasted to reach US$ 163.5 billion by 2034-end. The North American market is forecasted to expand at a CAGR of 5.8% through 2034.

Based on end use, the automotive & transportation segment is estimated to hold 49.1% market share in 2024. East Asia is projected to account for 36.5% of the global market by 2034.

“The emission control system market is evolving in response to growing environmental concerns and regulatory challenges. The confluence of compliance with regulations, technical advances, and an increasing emphasis on sustainability bodes well for the continued expansion and innovation within this dynamic industry,” says a Fact.MR analyst.

Key Players In The Emission Control System Market are DuPont de Nemours, Inc., Tenneco, Inc., GEA Group Aktiengesellschaft, MAN, Denso Corporation, Mitsubishi Heavy Industries Group, Nett Technologies Inc., Anguil Environmental Systems, Inc., DCL International Inc., Catalytic Products International, Cummins, Inc., Faurecia SE, Babcock & Wilcox Enterprises, Inc., Ducon Technologies Inc., Bosal Group, Valmet, Thermax Global Limited, ENVEA.

Ongoing Technological Advancements Revolutionizing Efficiency and Effectiveness of Emission Control Systems

The field of emission control has changed dramatically as a result of ongoing developments in engineering and materials science, which have encouraged the creation of extremely complex and effective systems. The effectiveness of emission control systems has been improved by innovations, especially in the areas of exhaust gas recirculation (EGR), diesel particulate filters (DPFs), and selective catalytic reduction (SCR).

Companies are now able to develop products that not only meet strict emission regulations but also drastically cut down on the dangerous emissions that come from cars and industrial operations. Resources are being directed toward innovative approaches, such as the integration of AI and IoT technologies, through continued research and development initiatives to optimize system performance, monitor emissions in real-time, and improve overall system reliability. .

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Country-wise Insights:

Tight environmental regulations combined with a steadfast push for vehicles and industry to emit fewer pollutants fuel the market's growth in the US. Because of the Environmental Protection Agency's (EPA) implementation and enforcement of law that demands ever-tougher emission restrictions, a number of sectors are using advanced emission control systems. The nation's pledge to reduce greenhouse gas emissions is consistent with global efforts to combat climate change, which fosters the development of emission control technology and, as a result, accounts for a sizeable portion of the market for emission control systems.

The United States' flourishing vehicle industry is a major contributor to the demand for emissions control systems. Both market demand and legal compliance are creating a greater need for environmentally friendly automobiles, which is pushing automakers to equip their cars with cutting-edge pollution control technologies. Due to significant expenditures in R&D projects and the nation's emphasis on promoting sustainable energy solutions across industries, advanced emission control technology is being developed and used.

Competitive Landscape:

The competitive landscape is characterized by ongoing research, strategic collaborations, mergers, and acquisitions aimed at improving market presence, diversifying product portfolios, and improving technology, while also vying for a majority of the emission control system market share, in the face of evolving environmental regulations and customer demand for cleaner emissions.

In March 2021, the Eaton Vehicle Group and Tenneco Inc.'s Clean Air business group announced a collaborative development agreement to create integrated exhaust thermal management systems. These systems will aid in the compliance of commercial truck and light vehicle manufacturers with upcoming emission rules.

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