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Automotive Exhaust Systems Market–New Revenue Pockets
Asia-Pacific To Remain The Dominant Market
Asia-Pacific has been like a magnet for automotive original equipment manufacturers (OEMs) and almost all the major OEMs have set up their manufacturing plants in the region such as Volkswagen Group, Fiat Chrysler Automobiles, General Motors, and Ford Motors. The automotive OEMs have been investing heavily in the Asia-Pacific region to meet the increasing demand from the consumers as well as to the growing exports market. The favorable work conditions as well as the availability of cheap work force have led to the expansion of production facilities in this region. This is why the automotive exhaust systems market has also seen a strong growth. Countries such as China, Japan, and South Korea are the leading manufacturers of exhaust systems in terms of volume in the Asia-Pacific region. Another reason for this region to maintain its leadership is the growing economy of countries such as India and China, which are showing a positive growth over the coming five years. The emission norms also play a vital role in the growth of the exhaust systems market in this region as the increasing stringency in these norms will change the way these exhaust system manufacturers strategize their moves in this region.
Diesel After-Treatment Devices: Opportunistic Market
Automotive exhaust manufacturers are gearing up for the new norms laid by different governments across the globe. To confirm with these emission norms, diesel after-treatment devices will become necessary and hence pose a great opportunistic market for companies manufacturing these devices. These companies manufacture/provide OEMs with after-treatment devices such as Diesel Oxidation Catalyst (DOC), Diesel Particulate Filter (DPF), Lean NOx Trap (LNT), and Selective Catalytic Reduction (SCR). Diesel being a dirtier fuel than gasoline produces greater amount of harmful exhaust gases and also more soot in the exhaust system. Diesel exhaust gases contain small black particulates which are filtered through the diesel particulate filter, and other harmful gases are broken down into less harmful gases with the use of selective catalytic reduction (SCR) and lean NOx trap (LNT). The latest emission norms have lowered the volume of allowed emissions from exhaust systems and hence the market for these after-treatment devices presents a great opportunity for the OEMs to increase their revenues as more devices will be needed for the growing number of vehicles being produced.
Automotive Exhaust Systems Market by Geography (Asia-Pacific, North America, Europe, & ROW), by Vehicle Type (Passenger Cars, LCVs, & HCVs), by Fuel Type (Gasoline & Diesel), by After-Treatment Device (DPF, DOC, SCR, TWC, & NOx Adsorber) - Trends & Forecasts to 2019
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