Automotive Exhaust Aftertreatment Systems Market to Reflect Impressive Growth Rate of 21.60% by 2023 - u2013 BENTLEY SYSTEMS, FUGRO, HARRIS CORPORATION, MDA CORP., TRIMBLE GEOSPATIAL

The automotive exhaust aftertreatment systems market is expected to record a CAGR of 21.60%, during the forecast period. The automotive exhaust aftertreatment systems market has noticed significant growth in regions, such as the Europe and Asia-Pacific to cut down the carbon footprint complying with stringent emission norms.

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The global automotive exhaust aftertreatment systems market is expected to record a CAGR of 21.60% by the end of forecast period. US authorities recently initiated a preliminary investigation into the Mercedes-Benz vehicle engines equipped with the diesel technology “clean” BlueTEC. Renault announced to recall and fix 15,000 cars post the higher test results of emissions. The Volkswagen scandal of “defeat device”, bypassing emission norms, created havoc, causing the company huge losses during 2015. These manipulation incidents with the corresponding action by the environmental protection agencies have brought the exhaust aftertreatment systems market into the spotlight.

Passenger cars systems are expected to maintain their dominance as the major vehicle type in the market by 2023. Cordierite based filters accounted for a majority of market share by filter type. In 2017, automotive exhaust aftertreatment systems for diesel accounted for over 50% of the global market share. Growing alternative fuel systems and Gasoline Direct Injection GDI technology in gasoline engines are expected to propel the exhaust aftertreatment market at a higher pace by 2023 in these segments. North America (especially the US), India, China, and Mexico are expected to be most prolific regional markets for exhaust aftertreatment systems during the forecasted period. EPA adopted the California emissions standards as a national standard by the 2016 model year, making the regulations more stringent in the United States. Growing concern among the public and the government initiatives are expected to drive the market for these systems at a higher pace in the US.

Key Developments in the Market

March 2018: The share of diesel vehicles among new car registrations in the EU decreased from a peak of 55% in 2011 to 49% in 2016; recent data suggests that diesel shares continue to fall

March 2018: Mack makes enhancements to its Granite model trucks

Major Players

u2013 BENTLEY SYSTEMS, FUGRO, HARRIS CORPORATION, MDA CORP., TRIMBLE GEOSPATIAL, amongst others.

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Market Dynamics

Growing scandals pertaining to exhaust systems, rising automotive share of greenhouse emissions, and stringent regulatory norms levied by EPA have acted as major propellants of the exhaust aftertreatment market growth globally. Technical difficulties, such as high pressure to force the exhaust through the filtering system, unavailability of these systems for biodiesel, passive regeneration system requiring highway driving to clean the accumulated soot and complicated set-up for urea injection have acted as barricades for the market growth. However, on the bright side, recovering global automotive industry and growing production sites in developing nations, such as Mexico and India are opening up new opportunities for the market growth by 2023.

Technological Trends

Cummins recently announced its improved ISX15 heavy-duty engine capable of an extended diesel particulate filter ash-cleaning interval, reaching up to 500,000 miles. The design enhancement is believed to reduce ash and oil consumption, with fuel economy greater than 5.5 miles per gallon. With major players trying to come up with new technologies by comprehensive R&D spending and growing pressure from environmental regulatory authorities, the market for exhaust aftertreatment systems is poised to grow rapidly during the coming 5 years.

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