Increasing Vehicle Production to Drive Automotive Exhaust Aftertreatment Systems Market
COVID-19 pandemic has affected almost every region in the world. The automotive exhaust aftertreatment systems manufacturers are facing short term demand and supply challenges.
China controls ~80% of the world’s auto supply chain which has resulted in production shortfalls in the initial months of 2020.
The automotive exhaust aftertreatment systems market is dominated by the passenger cars segment. The demand for automotive exhaust aftertreatment system is expected to accelerate as various governments across the world have to compulsorily install exhaust systems in modern vehicles.
Over the forecast period, it is anticipated that, by the beginning of quarter 4, the demand will be higher for passenger cars, in turn, creating significant opportunities for automotive exhaust aftertreatment systems players.
In Fact. MR’s report, it is projected that the automotive exhaust aftertreatment system which is used in passenger cars will hold ~70% market share in terms of value and is anticipated to grow at a CAGR of ~4.3% by the end of the forecast period 2020-2030.
Diesel Particulate Filter (DPF) to Garner Significant Traction
A diesel particulate filter (DPF) is a device designed to remove diesel particulate matter or soot from the exhaust gas of a diesel engine. These filters remove nearly 85% of the particles from the exhaust and ensures efficiency and fuel economy of the vehicles. The rising environmental safety awareness and stringent emission norms is expected to drive the growth of diesel particulate filters.
In addition, rapid urbanization in the future will create new retail and e-commerce platforms which require efficient logistics, in return creating demand for light commercial vehicles.
This is therefore anticipated to create significant demand for diesel particulate filters as they are highly operated on diesel engines. Owing to the above mentioned facts, the global diesel particulate filter (DPF) is estimated to create an absolute $ opportunity of more than US$ ~14.8 Bn during the forecast period (2020-2030).
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East Asia to Outperform Other Regions in Automotive Exhaust Aftertreatment Systems Market
East Asia has dominated the automotive exhaust aftertreatment systems market in 2019 accounting for more than 32% of the market share. However, in the current scenario, outbreak of COVID-19 has adversely impacted the automotive exhaust aftertreatment systems market thus showing a negative growth rate.
With the situation getting better in China and automotive parts suppliers resuming their production, it is anticipated to have a positive impact on automotive exhaust aftertreatment systems market by the end of 2020.
In addition, global production of automotive vehicles will start showing an upward trend in sales exhaust aftertreatment systems owing to the demand for passenger cars in developing economies like China, India, and South Korea.
Furthermore, the favorable working circumstances and low-cost labor will foster OEMs to increase the production of automotive exhaust aftertreatment systems in these countries. Under optimistic scenario, East Asia is expected to control the market with nearly 38% share over the forecast period.
Key Players to Account for Majority Share
The market is highly fragmented with presence of a large number of local and regional players. The existing players like Bosal Group, Friedrich Boysen GmbH & Co. KG, and Magneti Marelli S.p.A. have been expanding their manufacturing capacities in the recent past.
Owing to these efforts by existing players to increase production, automotive exhaust aftertreatment systems market is expected to observe notable growth during the forecast period.
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COVID-19 Impact on Global Automotive Exhaust Aftertreatment Systems Market
Amid the coronavirus outbreak, automotive industry is a highly affected sector due to the statewide lockdown causing decline in the global demand for automotive vehicles.
Despite the restart of manufacturing operations in China, there is continued supply chain and production disruption as majority of the EU and US OEMs have temporarily closed plants. This is resulting in weakening demand of automotive exhaust aftertreatment systems.
For instance, in EU the factory shutdown has resulted in the production loss of more than 1.4 Mn vehicles which has directly impeded the sales of automotive exhaust aftertreatment systems.
As per the recent report published by Fact.MR, under the optimistic scenario, more than 300 automotive part suppliers in China have resumed their productions and are moving towards a recovery phase which is foreseen to stabilize the automotive exhaust aftertreatment systems market.
Further, it is estimated that automotive exhaust aftertreatment systems market demand curve will start showing positive signs by the third quarter.
Key Segments of the Automotive Exhaust Aftertreatment Systems Market
Fact.MR’s study on the automotive exhaust aftertreatment systems market offers information divided into three key segments— product, vehicle, sales channel, and region. This report offers comprehensive data and information about important market dynamics and growth parameters associated with these categories.
Global Automotive Exhaust Aftertreatment Systems Market - Scope of the Report
Fact.MR recently published a market study on the global market for automotive exhaust aftertreatment systems. The study provides a detailed assessment on the key market dynamics, including drivers, trends, opportunities, restraints, and detailed information about the automotive exhaust aftertreatment systems market structure.
The market study presents exclusive information about how the automotive exhaust aftertreatment systems market will grow during the forecast period of 2020-2030.
Key indicators of market growth, which include Year-on-Year (Y-o-Y) growth of the market, value chain, supply chain analysis, and Compounded Annual Growth Rate (CAGR) are explained in Fact. MR’s study in a comprehensive manner. This information can help readers understand the quantitative growth prospects of the automotive exhaust aftertreatment systems market in the forecast period.
The study is relevant for stakeholders in the automotive exhaust aftertreatment systems market, including manufacturers, suppliers, distributors, and investors, and can help them in developing appropriate strategies to grow in the market.
Stakeholders in the automotive exhaust aftertreatment systems market, investors, industry experts, researchers, and journalists, as well as business researchers can leverage the information and data presented in the Fact.MR study.
The study also includes statistics as well as facts related to macro as well as microeconomic factors that are impacting developments in the automotive exhaust aftertreatment systems market. It also offers actionable insights based on future trends in the automotive exhaust aftertreatment systems market.
Furthermore, small businesses and new entrants in the automotive exhaust aftertreatment systems market too can make use of the information presented in this study, based on which, they can make appropriate business decisions in order to gain momentum in the market.
Key Questions Answered in Fact.MR’s Automotive Exhaust Aftertreatment Systems Market Report
- Which regions will continue to remain the most profitable regional markets for automotive exhaust aftertreatment systems market players?
- Which factors will induce a change in the demand for automotive exhaust aftertreatment systems during the assessment period?
- How will changing trends impact the automotive exhaust aftertreatment systems market?
- How can market players capture the low-hanging opportunities in the automotive exhaust aftertreatment systems market in developed regions?
- Which companies are leading the automotive exhaust aftertreatment systems market?
- What are the winning strategies of stakeholders in the automotive exhaust aftertreatment systems market to upscale their position in this landscape?
Automotive Exhaust Aftertreatment Systems Market: Research Methodology
In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the automotive exhaust aftertreatment systems market, and reach conclusions on future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of conclusions.
Secondary resources referred to analysts during the preparation of the automotive exhaust aftertreatment systems market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases.
Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, who have contributed to the development of this report as a primary resource.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
Who are the respondents for primary research?
Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
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