The world has experienced a dramatic rise in air pollution across the globe. This rise is due to the rapid increase in automobiles, construction activities, and industrialization. According to the World Health Organization, around 91% of the world population lives in places where the pollution level exceeds the prescribed limit.
Moreover, rising pollution levels from the residential sector is also emerging as a major challenge. More than 3.8 million people die every year due to household exposure to smoke from fuels and dirty cookstoves. Also, the harmful emissions from the construction industry, aerospace, and rolling stock lead to a dramatic rise in air pollution.
According to MarkNtel Advisors’ research report titled “Global Emission Control Technology Market Analysis, 2020”, the Global Emission Control Technology market is anticipated to grow at a CAGR of around 7.91% during 2020-25. North America and Europe region cumulatively dominate the Global Emission Control Technology market on an account of rising motor vehicle production and industrial construction. Moreover, the government’s regulations for the greenhouse gas emissions from industries and powerplants is helping the emission control technology market to grow.
Additionally, fuel type diesel segment acquired the major market share in 2019 due to the more energy production per liter. According to the International Council on Clean Transportation, diesel engines in Europe are considered a type of efficient and clean vehicle technology.
North America Segment to Dominate the Market
In 2019, North America dominated the Global Emission Control Technology market share majorly due to investment in infrastructure and powerplants that lead to the increasing emissions. Therefore, the emission control technology demand is emerging majorly from this region. In 2019, the government of America proposed a budget that would invest USD 1.5 trillion in the public and private infrastructure investment until 2029.
Moreover, the investments from the international investors in the region are adding further pace to the emission control technology growth in North America.
The Global Emission Control Technology market is largely competitive. Major players operating in the market are BASF, Clean Diesel Technologies, Inc., Clariant, Cormetech, Corning Incorporated, DCL International Inc., Johnson Matthey, etc. The players in the industry are investing in research and development and expanding their geographical coverage to remain competitive in the market.
Key Questions Answered in the Market Research Report
1. What are the key overall market statistics or market estimates (Market Overview, Market Size- By Value, Forecast Numbers, Market Segmentation, Market Shares) of Global Emission Control Technology Market?
2. What are the region wise industry size, growth drivers and challenges key market trends?
3. What are the key innovations, technology upgrades, opportunities, regulations in the Global Emission Control Technology Market?
4. Who are the key competitors or market players and how they perform in Global Emission Control Technology Market on the basis of competitive benchmarking matrix?
5. What are the key results derived from the market surveys conducted during the course of Global Emission Control Technology Market study?