Emission Control Technology Market to reach $54 Billion by 2030; The increasing government regulations, environmental policies and industrialization and international agreements on reducing emissions are driving the demand for emission control system

The Emission Control Technology Market size is estimated to reach $54 Billion by 2030, growing at a CAGR of 8.4% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Emission Control Technology Market - By Technology (Diesel Oxidation Catalyst, Diesel Particulate Filter, Selective Catalytic Reduction, Exhaust Gas Recirculation, Gasoline Particulate Filter and Others), By Fuel Type (Gasoline, Diesel and Others), By Material (Platinum, Palladium, Rhodium and Others), By Vehicle Type (Passenger Vehicles, Light Commercial Vehicles and Heavy Commercial Vehicles), By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030” 

Global environment policies on emission control methods are driving the need for emission control systems, the stringent government regulations on reducing air pollution levels and several international agreements are driving the demand for emission control technologies. 

Europe accounted for the largest share of 33% of the Emission Control Technology Market in 2023. The growing focus on sustainable energy solutions and stringent environmental regulations globally will propel the demand for emission control technologies, driving innovation and market expansion in the coming years. For instance, The EU’s increasing commitment to cleaner air is reflected by a threefold increase in the funds allocated to promoting clean air policies: from $7.65 billion annually for 2014-2020 to $25.5 billion annually for 2021-2027, notably supported by the Recovery and Resilience Facility (RRF). Such investments are driving the emission control technology market. 

Stringent emission regulations worldwide are propelling the growth of emission control technology market. Several countries like the European Union, Japan and the Republic of Korea, together with more than 110 other countries, have pledged carbon neutrality by 2050 and China says it will do so before 2060. In 2024, United States Environmental Protection Agency has adopted multiple tiers of emission standards. They adopted a comprehensive national program to reduce emissions from nonroad diesel engines by integrating engine and fuel controls as a system to gain the greatest emission reductions. To meet these Tier 4 emission standards, engine manufacturers will produce new engines with advanced emission control technologies.

Many countries and an increasing number of businesses are committed to reaching net zero emissions. According to World Energy Outlook-2023, As of September 2023, net zero emissions pledges cover more than 85% of global energy-related emissions and nearly 90% of global GDP. Ninety-three countries and the European Union have pledged to meet a net zero emissions target. Moreover, governments around the world, especially in advanced economies, have responded to the pandemic and the global energy crisis by putting forward new measures designed to promote the uptake of emission control technologies like diesel particulate filters, selective catalytic reductions, gasoline filters, electric cars, energy efficiency and other clean energy technologies

Key companies profiled in the Emission Control Technology Market are Johnson Matthey, GEA Group Aktiengesellschaft, Umicore, CDTI Advanced Materials, Cormetech, Ecovyst Inc, Nett Technologies, Cataler, Tenneco, Airex Industries and others.

Emission Control Catalyst Market : Emission Control Catalyst Market size is forecast to reach $32 billion by 2025, after growing at a CAGR of 9.8% during 2020-2025, owing to the increasing adoption of emission control catalyst technology to reduce the toxic gases and pollutants from the volatile organic compounds (VOC).  

 

Stationary Gas Analyser Market : The Market for Stationary gas analyser is forecast to reach $1.5 billion by 2026, growing at a CAGR of 2.9% from 2021 to 2026. The market growth is attributed to the factors such as increasing demand for environmental conservation, strict environmental and legal legislation, and growing worries regarding health and safety. 

Portable Gas Analyzer Market : The market for portable gas analyser is forecast to reach $437 million by 2025, growing at a CAGR of 3.2% from 2020 to 2025. The market growth is attributed to the factors such as increasing demand for environmental conservation, strict environmental and legal legislation, and growing worries regarding health and safety.