An effective growth in the number of flaws in exhaust systems, the growing automotive share of greenhouse emissions, and stringent regulatory norms levied by EPA and emission authorities around the emerging automotive markets, like India, act as foremost propellants of the market growth, around the globe.
Technical issues, such as high pressure to force the consume through the filtering system, unobtainability of these systems for biodiesel, passive regeneration system requiring highway propelling to clean the accumulated soot, and complicated set-up for urea injection, have acted as barricades for the market growth. However, the recovering worldwide automotive industry and growing the production sites in developing nations, such as Mexico and India, are opening fresh opportunities for the growth of the market.
According to the report analysis, ‘Global Commercial Vehicle Exhaust Emission System Market Status (2015-2019) and Forecast (2020-2024) by Region, Product Type & End-Use’ states that BorgWarner, Delphi, Continental, Wells, Mahle, KSPG, Klubert + Schmidt, Gits Manufacturing, Bekaert, Corning, Faurecia, Katcon, Tenneco, Longsheng Tech, Meet, Tianruida, Baote Precise Motor, BARI and several others are the foremost companies which recently operating more proficiently in worldwide commercial vehicle exhaust emission system market for leading the highest market growth and registering the handsome value of market share around the globe while delivering the better consumer satisfaction, employing the young and intellectual young personnel, developing the applications and specifications of such, improving the qualitative and quantitative measures, spreading the awareness connected to the applications of such, analysing the several strategies of the government as well as corporates, implementing the policies of the enlargements and profit making and establishing the several research and development programs.
In addition, based on the market type, the market of commercial vehicle exhaust emission is categorized into SCR system and EGR system. SCR has an extreme installation rate around European and North American countries due to the ongoing emission norms such as Euro 6 and Tier 3 correspondingly. Europe has a large implementation rate of diesel passenger cars and LCVs. Thus, it has a greater installation rate of SCRs associated to other regions such as Asia Oceania and North America in such vehicle types. Further, the fresher trucks and buses of developed regions must withstand the NOx permissible restricts and should be fitted with SCRs. Moreover, due to the ongoing and inflowing stringent emission norms in underdeveloped countries such as China, India, and Thailand, the requirement for SCRs is expected to augment significantly around all diesel vehicle types by 2022 at a worldwide level.
Nonetheless, the great players in commercial vehicle exhaust emission market are significantly opting the strategies of joint ventures, partnership, new product development, merger and acquisition and several others for obtaining the competitive edge and generating the high percentage of revenue. Therefore, in the near years, it is predicted that the market of commercial vehicle exhaust emission will increase around the globe more proficiently over the forthcoming duration along the effective amount of investment by the upcoming as well as prevailing companies and investors.
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Ankur Gupta, Head Marketing & Communications