Global Emission Control Products Market: Overview
Emission control products refer to the devices that help reduce the emissions produced by motor vehicles. While these emissions are of various kinds, including carbon monoxides, hydrocarbons, mono-nitrogen oxides, soot, sulfur oxide, and other volatile organic compounds, there is a growing requirement to curtail the emission because of its negative impact on public health as well as natural environment. With looming concerns pertaining to global warming, the demand in the global market for emission control products and technology is surging, and is estimated for a healthy CAGR during the forecast period of 2016-2024.
Although the term “emission control products” includes various materials, chemicals, and devices, a keen focus is currently placed on emission control filters, catalysts, and sensors. Additionally, membranes, sorbents, and chemicals used for emission control purpose will also be reported as a secondary focus. Emission control products and technologies can be segmented as: autocatalyst (cars and small vehicles), heavy duty diesel (large vehicles with diesel engines and construction equipment), and stationary emissions (gas turbines, marine, coal fired power plants, and locomotive). The three-way catalyst technology is among the most important for emission control, which is used on spark-ignited and gasoline vehicles worldwide. It is named thus as it helps curb three chief pollutants: carbon monoxide (CO), oxides of nitrogen (NOx), and volatile organic compounds (VOCs).
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Global Emission Control Products Market: Trends and Opportunities
The exponential rise in energy consumption, surge in transportation requirements, and increasing sales of automobiles across the global are some of the prominent factors driving the global market for emission control products. Moreover, increasingly stringent EPA emission standards and their extension into previously regulated areas is another factor that is expected to augment the demand during the forecast period.
The global market for emission control product and technology is experiencing a consistent increase in the research and development activities, which are focused on developing products that are efficient, and cost-effective. A significant chunk of research efforts are also focused on customization of technologies in order to serve the specific requirements of each region, country, and industry. Abundant opportunities are available in the global emission control products market for original equipment manufacturers (OEMs) because industrial sector has specific emission control product and technology needs. Most prominent organizations are looking toward outsourcing partners to tap these opportunities so as to attain cost competitiveness and a greater global presence.
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Global Emission Control Products Market: Region-wise Outlook
Geographically, the global market for emission control products can be divided into North America, Europe, Asia Pacific, and rest of the world. Currently, North America serves the maximum demand, primarily due stringent government policies against pollution and higher rate of vehicles per person. However, vast populations and landscapes in Asia Pacific is promoting the region as the most lucrative market during the forecast period. Automobile industry is at an all-time peak in the this region and governments of emerging economies such as India and China are coming up with strict regulations against pollution, which as a result will expand the demand rapidly in the region.
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Companies mentioned in the research report
Some of the prominent companies currently operational in the global emission control products market are Donaldson Company Incorporated, Engelhard, Corning, Johnson Matthey, Delphi Corporation, NGK Insulators Limited, and Bosch (Robert) GmbH. Other players include ABB Limited, Albemarle Corporation, Alphasense Limited, AMETEK Incorporated, Aquilex Services Corporation, BASF AG, Calgon Carbon Corporation, Camfil Farr Group, Carbochem Incorporated, Church & Dwight Company Incorporated, Corning Incorporated, Degussa AG, Earth Sciences Incorporated, First Technology plc, Gore (WL) & Associates Incorporated, Grace (WR) & Company, Honeywell International Incorporated, Horiba Limited, Novatech Controls Pty Limited, Nuon NV, OM Group Incorporated, and Siemens AG.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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