Market Size of Automotive Exhaust Aftertreatment Systems Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 18.50 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Automotive Exhaust Aftertreatment Systems Market Analysis
The automotive exhaust aftertreatment systems market was valued at USD 23.7 billion in 2021 and is anticipated to reach USD 54.4 billion in 2027, registering a CAGR of over 18.5% during the forecast period (2022-2027).
The COVID-19 pandemic had a severe impact on the market. With the record low sales of passenger and commercial vehicles worldwide, the demand for exhaust after-treatment systems was almost significantly affected. The lockdown and social distancing norms worldwide caused the aftermarket business of the after-treatment systems to plummet. However, with the restrictions gradually being relaxed, the growing need for lesser emissions from vehicles of all sizes, and strict emission norms levied by governments of different nations, the future market for this industry looks hopeful.
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, the recovering global automotive industry and increasing production sites in developing nations, such as Mexico and India, are opening up new opportunities for market growth by 2027.
