Emission Control Technology Market to grow by USD 39.09 billion from 2022 to 2027, Growing Greenhouse Gas Emissions from Industries to boost the market growth – Technavio

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NEW YORK, Sept. 19, 2023 /PRNewswire/ — The emission control technology market size is expected to grow by USD 39.09 billion from 2022 to 2027, progressing at a CAGR of 7.14% as per the latest Technavio market research report. The report has been segmented by end-user (Automotive, Marine, Aerospace, Off-highway, and Rolling stock), type (Gasoline and Diesel), and geography (North America, Europe, APAC, South America, and Middle East and Africa). Growing greenhouse gas emissions from industries are notably driving the growth of the global emission control technology market. The predominant source of air pollution stems from the emission of greenhouse gases, primarily due to the widespread use of fossil fuels across various industries. Factories are major contributors to the release of carbon dioxide CO2, a particularly detrimental greenhouse gas. Additionally, manufacturing plants release ozone, leading to the formation of smog and ground-level ozone issues, which have severe implications for public health. Notably, industrial production is on the rise globally, especially in energy-intensive sectors. Furthermore, coal remains the dominant energy source for industrial power generation. Consequently, greenhouse gas emissions have surged in tandem with industrial growth. To combat this trend, many industries are adopting emission control technologies to curb their greenhouse gas emissions, which, in turn, is expected to drive market growth during the forecast period. Discover insights on market size before buying the full report- Download the FREE sample report

Emission Control Technology Market: Segment Overview

This market research report segments the emission control technology market by end-user (Automotive, Marine, Aerospace, Off-highway, and Rolling stock), type (Gasoline and Diesel), and geography (North America, Europe, APAC, South America, and Middle East and Africa).

  • The automotive segment is estimated to witness significant growth during the forecast period. Governments worldwide have implemented stringent emission limits in response to environmental concerns. Automotive manufacturers are compelled to adhere to these regulations and reduce their vehicles’ emissions output. This has led to an increased need for emissions control technology to ensure compliance and evade potential penalties. Emission control technology enables vehicles to operate with reduced emissions, aligning with the objectives of sustainable transportation and environmentally conscious mobility. Furthermore, the rising awareness among consumers and their preference for environmentally friendly vehicles have bolstered the demand for emissions control technology. As consumers become more concerned about the environmental impact of vehicles, they are opting for vehicles equipped with advanced emission control systems. Consequently, the growing global emphasis on regulatory compliance and the demand for sustainable transportation will propel the market’s growth during the forecast period. 

Geography Overview:

  • North America is estimated to contribute 33% to the growth of the global market during the forecast period.  For now, get a snapshot of the comprehensive report Download the FREE Sample

Recent trends influencing the market growth

The proliferation of Euro emission standards is an emerging trend shaping the growth of the global emission control technology market. 

Major challenges hindering the market growth

The rising demand for electric vehicles is a significant challenge impeding the growth of the global emission control technology market. 

Driver, Trend & Challenges are the factor of market dynamics which states about consequences & sustainability of the businesses, find more insights from a FREE sample report!

What are the key data covered in the Emission Control Technology Market reports:

  • Historic Market size
  • Company landscape and analysis including Airex Industries Inc., American Air Filter Co. Inc., Andritz AG, Babcock and Wilcox Enterprises Inc., BASF SE, Camfil AB, Donaldson Co. Inc., Doosan Lentjes GmbH, DuPont de Nemours Inc., FLSmidth and Co. AS, Fujian Longking Co. Ltd., GEA Group AG, General Electric Co., Hamon S.A., Mitsubishi Heavy Industries Ltd., Parker Hannifin Corp., PAS Solutions BV, Sumitomo Heavy Industries Ltd., Thermax Ltd., and John Wood Group PLC
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Emission Control Technology Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 7.14%

Market growth 2023-2027

USD 39.09 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

6.88

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 33%

Key countries

US, China, Japan, Germany, and UK

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Airex Industries Inc., American Air Filter Co. Inc., Andritz AG, Babcock and Wilcox Enterprises Inc., BASF SE, Camfil AB, Donaldson Co. Inc., Doosan Lentjes GmbH, DuPont de Nemours Inc., FLSmidth and Co. AS, Fujian Longking Co. Ltd., GEA Group AG, General Electric Co., Hamon S.A., Mitsubishi Heavy Industries Ltd., Parker Hannifin Corp., PAS Solutions BV, Sumitomo Heavy Industries Ltd., Thermax Ltd., and John Wood Group PLC

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. 

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by End-user

7 Market Segmentation by Type

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio

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