Exhaust Gas Purifier Market Size, Share, Growth and Industry Analysis by Type (General Filter Type Exhaust Gas Purifier, Initiative Regeneration Type Exhaust Gas Purifier, Passive Regeneration Type Exhaust Gas Purifier, Fuel Injection Type Exhaust Gas Purifier, Microwave Regeneration Type Exhaust Gas Purifier), By Application (Power Generation, Chemical, Cement & Printing, Iron and Steel and Others) Regional Forecast (2022-2028)

REPORT OVERVIEW

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The global exhaust gas purifier market size is anticipated to be worth USD 2.3450 billion in 2022. The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is projected to touch USD 3.5390 billion by 2028 with a CAGR of 7.1 % during the forecast period. The sudden spike in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Exhaust gas purifiers are primarily used for the purpose of removing noxious gases from the exhaust gas that is emitted in different industries. It is very useful in the removal of many hazardous and toxic gases.

Many remarkable trends and developments are now being witnessed in the market. These advancements have brought about many improvements in the industry. The global exhaust gas purifiers are very environment-friendly and can purify the air and the surroundings very efficiently. They remove hazardous gases like carbon-monoxide, methane and others to keep the air clean. This can be identified as the new trend in the market.

They also play a crucial role in power plants, cement, and chemical factories. The global exhaust gas purifiers have helped in drastically reducing the let out of such harmful emissions. These factors are collectively driving the market growth.

COVID-19 impact: Decline in The Value of The Chemical Industry Decreased the Market Growth

The COVID-19 pandemic hit all the markets and industries across the world. The chemical industry was highly affected due to the deadly disease. Due to lockdown many strict restrictions and norms were imposed because of which the raw materials necessary for the production of the chemicals were not easily available.

The global exhaust gas purifier has the function of removing all the toxic gases from the exhaust or the residual gas. The chemicals were not easily available and there was also a shortage of skilled workers.  There was a disruption in the supply chain of the raw materials. The production had also stopped during the pandemic bringing down the global exhaust gas purifier market share. All these factors affected the chemical industry which directly had a negative impact on the market growth. However, post the pandemic the market saw a substantial growth and is anticipated to grow in the future years.

LATEST TRENDS

"Purification of Air Efficiently by the Exhaust Gas Purifiers to Increase the Market Growth"

Many advancements and discoveries are being made in every field, especially in chemical and machine industry. These gas purifiers have applications in various fields and are in high demand all over the world. They are mainly used for keeping the air and our surrounding clean.

The global exhaust gas purifiers are very environment-friendly and can purify the air and the surroundings very efficiently. They remove hazardous gases like carbon-monoxide, methane and others to keep the air clean. Therefore, it is very convenient to be used. This is the newest development in the market.

SEGMENTATION

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• By Type:

The market can be divided on the basis of type as follows:

General filter type exhaust gas purifier, initiative regeneration type exhaust gas purifier, passive regeneration type exhaust gas purifierfuel injection type exhaust gas purifier, microwave regeneration type exhaust gas purifier. The general filter type exhaust gas purifier segment is expected to hold the dominant market share through 2028.

• By Application:

Classification based on application is as follows:

Power generation, chemical, cement & printing, iron and steel, and others. Power generation segment is predicted to dominate the market through 2028.

DRIVING FACTORS

"Increasing Demand for Global Exhaust Gas Purifiers in Various Industries to Amplify the Market Growth"

Gas purifiers are widely used in many industries. They have a lot of applications in processing and creating a safer and a cleaner environment that helps in avoiding many hazardous situations like explosion. They also play a crucial role in power plants, cement, and chemical factories. Because of their extensive application in different fields, they are at a high demand globally.

These purifiers are more predominantly used in those industries which have high rates of emitting pollutants and other dangerous gases into the environment. This has primarily driven the global exhaust gas purifier market growth.

"Reduced Emissions and a Healthier Environment Developed Due to These Gas Purifiers to Develop the Market"

Apart from being useful in the cement industry, power plants, iron and steel mills these gas purifiers have also found their application in creating a healthier environment. This has become one of the most important factors driving the market growth.

Pollution and high rates of emission from factories and industries is increasing day by day leading to many health disorders like asthma and breathing difficulties. The global exhaust gas purifiers have helped in drastically reducing the let out of such harmful emissions. This acts as a factor driving the market growth.

RESTRAINING FACTOR

"Side Effects of Using These Gas Purifiers to Decrease the Market Growth"

Along with being useful in various fields and industries these purifiers can be very dangerous and can also cause many side effects to the people and workers operating them. The harmful chemicals can badly affect the health of the person in close contact with it.

Organ damage, weakening of the immune system, reproductive problems, birth defects and development of allergies and asthma are some of the side effects caused due to the emissions that are released. This can be one of the major factors that can restrain the market growth and development.

Regional Insights

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"North America to Dominate the Market Growth During the Forecast Period"

The region that is seen dominating the market is North America. North America has majority of the market share and predominantly dominates the industry. Asia Pacific occupies the next position to North America. Many favorable factors have contributed to the development of the industry.

 Also, the presence of affluent consumers and a well-developed market in the region has provided the opportunity for the market to flourish. Huge investments in the field and expansion of health care and cosmetic markets are the factors that have made North America the top market in the region.

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position in the recent days. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market. Key market players have adopted unique strategies to flourish in the market.

List of Market Players Profiled

• Sertronic (U.S.)
• KBA (Germany)
• Ducon (India)
• Mitsubishi Hitachi Power  Systems (Japan)
• Grasys (U.S.)

Report Coverage

The report provides an insight into the industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations.