Market Size of Asia-Pacific Automotive Exhaust Aftertreatment Systems Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | < 9.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC Automotive Exhaust Aftertreatment Systems Market Analysis
The Asia-Pacific Automotive Exhaust Aftertreatment Systems Market is anticipated to register a CAGR of around 9% during the forecast period.
- The technological level for the Automotive Exhaust Aftertreatment Systems Market has evolved with modern engine design and active exhaust gas after-treatment systems. As a result of all this, there is a decrease in exhaust emissions from automobiles. Although, with continuous production in vehicle numbers and with car ownership reaching an all-time high, the challenges for scientists and engineers to develop further improved exhaust after treatment systems have been much focused and researched upon.
- Asia-Pacific dominated the automotive exhaust aftertreatment systems market in 2019, accounting for more than 35% of the market share. Even though the automobile production growth rate has plummeted over the last few years, but countries such as India, China, and the rest of South Asian nations have seen an upward growth rate. This is primarily because of its rise in population, improved opportunities, affordability, and higher GDP growth rate.
- However, with the present scenario of COVID-19 outbreak, the automotive exhaust aftertreatment systems market and the entire automobile market is experiencing a negative growth rate. Nevertheless, with the emergence of electric vehicles and an increasing ban on diesel vehicles, especially in the developed nation, the growth for Exhaust Aftertreatment Systems, the market will face challenges.
