LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global automotive exhaust gas recirculation system market to grow at a CAGR of close to 12% during the period 2018-2022, according to their latest report.
The proliferation of advanced Euro emission standards in emerging countries is one of the major trends being witnessed in the market. The rising air pollution levels in emerging countries are driving the governing bodies to upgrade the existing vehicle emission standards to be equivalent to Euro 5 and Euro 6 emissions standards by 2022. Euro 6 is the most advanced emission regulations to be formulated in emerging countries. Air pollution levels in China increased substantially in 2017. The Government of China had undertaken various measure to curb the amount of air pollution since 2013. The country imposed an odd-even rule to restrict the number of cars on the road, restricted sales of vehicles, reduced consumption of coal, and encouraged the use of electric cars since 2016 to control air pollution. Increasing the stringency of vehicle emission regulations will further decrease particulate matter levels in the air without having to restrict the sales of vehicles.
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In this report, Technavio analysts highlight the increased preference for export-oriented manufacture as a key factor contributing to the growth of the global automotive exhaust gas recirculation system market:
Increased preference for export-oriented manufacture
Increasing export-oriented manufacture of automobiles is driving the adoption of emission standards, which require the use of an automotive exhaust gas recirculation system. Automotive exhaust gas recirculation system is an important technology used in vehicles for controlling NOx emissions. Most of the countries have implemented emission standards that restrict NOx emissions. Thus, vehicles manufactured in countries not following stringent emission standards cannot be exported to many countries because of non-compliance with the stringent emission standards followed in the receiving countries.
According to a senior analyst at Technavio for automotive components, “The Ministry of Environment and Forestry of Indonesia has implemented a regulation for vehicle manufacturers to produce vehicles compliant with Euro 4 emissions standards from 2017. The Ministry cited the inability to export vehicles manufactured in Indonesia to other nations as the reason for implementing Euro 4 emission standards as many of the neighboring nations follow Euro emission standards 4 or higher.”
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Global automotive exhaust gas recirculation system market segmentation
This market research report segments the global automotive exhaust gas recirculation system market into the following applications (passenger car and commercial vehicle) and key regions (the Americas, APAC, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major applications, the passenger car segment held the largest market share in 2017, accounting for nearly 65% of the market. The market share occupied by this segment is expected to increase by nearly 5% during the forecast period.
The Americas was the leading region for the global automotive exhaust gas recirculation system market in 2017, accounting for a market share of more than 37%. The market share occupied by this region will decrease by almost 4% by 2022. However, the Americas will dominate the global market throughout the forecast period.
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