South Korea Automobile Exhaust Catalyst Market was valued at USD 0.9 Billion in 2022 and is projected to reach USD 1.3 Billion by 2030, growing at a CAGR of 4.7% from 2024 to 2030.
The South Korea Automobile Electric Power Steering (EPS) Systems market is witnessing significant growth due to rising demand for energy-efficient automotive technologies. The adoption of EPS systems has transformed vehicle steering dynamics, offering enhanced control, reduced fuel consumption, and improved safety. By eliminating the need for hydraulic fluids, EPS offers a cleaner and more sustainable alternative. With the increasing preference for electric and hybrid vehicles, this market is poised to expand rapidly, especially with the government's push for environmental sustainability.
Industries are driving the demand for EPS systems, focusing on performance, reliability, and energy efficiency. Automotive manufacturers in South Korea are prioritizing these systems to meet consumer expectations for better fuel economy and lower emissions. The demand for lightweight steering solutions, which EPS provides, is also contributing to its widespread adoption. The need for improved driver comfort, such as better steering feedback and enhanced vehicle maneuverability, is another key requirement fueling the market.
From the perspective of automotive engineers, EPS systems must meet strict standards of durability and performance in various driving conditions. As the market grows, so does the necessity for robust, high-quality EPS components that can handle the rigors of everyday driving, extreme temperatures, and challenging road conditions. South Korea's automotive industry, known for its innovation and technological prowess, is actively investing in research and development to refine EPS technology.
Moreover, South Korea's stringent regulations on automotive safety and emissions have led to higher adoption rates of EPS systems. The country’s automotive industry is shifting toward smart and connected vehicles, with EPS systems playing a vital role in the integration of advanced driver-assistance systems (ADAS). This technological evolution is also encouraging collaboration between automakers, EPS suppliers, and technology firms to create more efficient, adaptive steering solutions for the future.
As demand for electric and autonomous vehicles continues to rise, the role of EPS in South Korea's automotive sector will only become more critical. Manufacturers are focusing on creating systems that offer improved fuel efficiency, safety, and overall driving experience. As the EPS market evolves, South Korea is positioning itself at the forefront of the automotive steering system revolution.
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Johnson Matthey
Umicore
Cataler
CDTI
Weifu Group
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Chongqing Hiter
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Automobile Exhaust Catalyst Market
Three-Way Catalysts (TWC)
Selective Catalytic Reduction (SCR)
Lean NOx Trap (LNT)
Oxidation Catalysts
Monolith Substrates
Foil Substrates
Improved Monolith Types
Non-Monolith Substrates
Passenger Cars
Commercial Vehicles
Two-Wheelers
Heavy-Duty Vehicles
Light-Duty Vehicles
Heavy-Duty Vehicles
Motorcycles
Off-Road Vehicles
Original Equipment Manufacturer (OEM) Catalysts
Aftermarket Catalysts
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Automobile Exhaust Catalyst Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Automobile Exhaust Catalyst Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Automobile Exhaust Catalyst Market, By Type
6. South Korea Automobile Exhaust Catalyst Market, By Application
7. South Korea Automobile Exhaust Catalyst Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Automobile Exhaust Catalyst Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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