What is Global Gasoline Particulate Filter for Commercial Vehicle Market?
The Global Gasoline Particulate Filter for Commercial Vehicle Market is a significant sector in the automotive industry. This market revolves around the production and distribution of gasoline particulate filters specifically designed for commercial vehicles. These filters are crucial components in vehicles as they help reduce the amount of particulate matter or soot released into the atmosphere, thereby contributing to environmental conservation efforts. The market's relevance has been growing in recent years due to the increasing awareness and regulations regarding environmental protection. However, the market is not just about the production and sale of these filters. It also involves the research and development of more efficient and effective filters, the study of market trends, and the analysis of the competitive landscape. The market is influenced by various factors such as technological advancements, the rise in commercial vehicle production, stringent emission norms, and the increasing demand for fuel-efficient vehicles.
Cordierite Type, Other in the Global Gasoline Particulate Filter for Commercial Vehicle Market:
The Global Gasoline Particulate Filter for Commercial Vehicle Market is segmented based on the type of filter material used. The two main types are Cordierite and Others. Cordierite filters are widely used due to their thermal properties, low cost, and effectiveness in filtering particulates. They are made from a ceramic material that can withstand high temperatures, making them ideal for use in commercial vehicles that often operate for long hours. On the other hand, the 'Others' category includes filters made from materials like silicon carbide and metal fibers. These materials offer different benefits such as high filtration efficiency and resistance to thermal shock. However, they are often more expensive than cordierite filters. The choice of filter type depends on various factors such as the vehicle's requirements, the operating conditions, and the budget.
Light Commercial Vehicle, Heavy Commercial Vehicle in the Global Gasoline Particulate Filter for Commercial Vehicle Market:
The Global Gasoline Particulate Filter for Commercial Vehicle Market finds its application in two main areas: Light Commercial Vehicles and Heavy Commercial Vehicles. Light Commercial Vehicles (LCVs) are typically used for transporting goods and passengers over short to medium distances. They include vehicles like vans, pickup trucks, and small buses. On the other hand, Heavy Commercial Vehicles (HCVs) are used for transporting large volumes of goods over long distances. They include vehicles like trucks, trailers, and large buses. The use of gasoline particulate filters in these vehicles helps reduce the emission of harmful particulates, thereby contributing to environmental protection. The demand for these filters in LCVs and HCVs is influenced by factors such as the increase in commercial vehicle production, the rise in transportation activities, and the stringent emission norms.
Global Gasoline Particulate Filter for Commercial Vehicle Market Outlook:
The Global Gasoline Particulate Filter for Commercial Vehicle Market has shown promising growth in recent years. In 2022, the market was valued at US$ 1575 million. It is expected to reach a value of US$ 1972.7 million by 2029, growing at a Compound Annual Growth Rate (CAGR) of 3.2% during the forecast period from 2023 to 2029. This growth can be attributed to the increasing demand for commercial vehicles, the rising awareness about environmental protection, and the stringent emission norms. The market is dominated by leading producers such as Corning, NGK Insulators, and Faurecia, who accounted for 27.35%, 16.01%, and 13.30% of the market revenue respectively in 2019. These companies have been instrumental in driving the market growth through their innovative products and strategic market initiatives.
| Report Metric | Details |
| Report Name | Gasoline Particulate Filter for Commercial Vehicle Market |
| Accounted market size in 2022 | US$ 1575 million |
| Forecasted market size in 2029 | US$ 1972.7 million |
| CAGR | 3.2% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Corning, NGK Insulators, Faurecia, Tenneco, Johnson Matthey, Katcon, Umicore, Bekaert |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
