Market Size of Europe Automotive Exhaust Aftertreatment Systems Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 7.20 % |
| Fastest Growing Market | Europe |
| Largest Market | Europe |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Automotive Exhaust Aftertreatment Systems Market Analysis
The Europe Automotive Exhaust Aftertreatment Systems Market is valued at USD 6.33 billion in the current year and is expected to grow to USD 9.61 billion by the next five years, registering a CAGR of 7.2% in terms of revenue during the forecast period.
Over the medium term, the rise in vehicle production, along with growing carbon emission concerns, are likely to increase the demand for exhaust after-treatment systems devices during the forecast period.
Additionally, the technological level for the automotive exhaust after-treatment systems market evolved with modern engine design and active exhaust gas after-treatment systems. As a result, there is a decrease in exhaust emissions from automobiles in the past few years. However, with the continuous production of vehicles along with increasing car ownership, there are tremendous challenges for scientists and engineers to develop improved exhaust after-treatment systems.
However, the rapid adoption of electric vehicles and a ban on diesel engine vehicles, especially in developed nations, may hinder the growth of the European exhaust Aftertreatment Systems market. However, Europe is a growing market for exhaust systems with lucrative opportunities in countries like the United Kingdom, Germany, and France and Eastern Europe, especially the Czech Republic, Poland, Slovakia, and Romania.
Based on the growing emission concern and the data point mentioned above, the target market is expected to witness considerable market growth in the upcoming time.
