Market Overview 2022-2027
The latest research study “Automotive Selective Catalytic Reduction Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global automotive selective catalytic reduction (SCR) market reached a value of US$ 7.74 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 10.93 Billion by 2027, exhibiting a CAGR of 5.60% during 2022-2027.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Industry Definition and Application:
Automotive selective catalytic reduction (SCR) represents an advanced system that minimizes nitrogen oxide (NOx) tailpipe emissions to nearby-zero levels in newer generation diesel-powered vehicles and equipment. It generally relies on diesel exhaust fluid (DEF) to convert nitrogen oxides into nitrogen, water, and tiny amounts of carbon dioxide (CO2). In addition to this, the automotive selective catalytic reduction is highly fuel-efficient and cost-effective, which allows manufacturers to maximize fuel economy and balance engine performance.
Global Automotive Selective Catalytic Reduction Market Trends and Drivers:
The increasing prevalence of respiratory diseases, on account of the inflating levels of air pollution, is primarily driving the automotive selective catalytic reduction market. Moreover, the implementation of various stringent regulations by government bodies to reduce harmful emissions from vehicles, owing to the combustion of fuel oil, diesel fuel, petrol, gasoline, biodiesel, etc., is acting as another significant growth-inducing factor. Apart from this, the expanding automotive industry is also positively influencing the global demand for automotive SCR. Furthermore, the leading manufacturers are extensively investing in R&D activities to introduce three-way catalysts for vehicles that enhance fuel efficiency and minimize carbon dioxide (CO2) emissions substantially at lower operating temperature. This, in turn, is anticipated to propel the automotive selective catalytic reduction market over the forecasted period.
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|Automotive Selective Catalytic Reduction Market Report Scope|
|Market size value in 2021||US$ 7.74 Billion|
|Market forecast in 2027||US$ 10.93 Million|
|Growth Rate||CAGR of 5.60% from 2022 to 2027|
|Base year for estimation||2021|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Component, Vehicle Type, Fuel Type and Region|
|Regional scope||North America, Europe, Asia-Pacific, Latin America, Middle East and Africa|
|Key companies profiled||BASF SE, BOSAL, Continental AG, CORMETECH Inc., Faurecia SE, Johnson Matthey, Kautex Textron GmbH & Co. KG (Textron Inc.), Magneti Marelli S.p.A., Plastic Omnium, Robert Bosch GmbH, Röchling SE & Co. KG and Tenneco Inc.|
|Market Dynamics||Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,|
|Customization preview||If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.|
The report has been segmented the market into following categories:
Breakup by Component:
- Urea Tank
- Urea Pump
- Engine Control Unit (ECU)
Breakup by Vehicle Type:
- Passenger Vehicles
- Commercial Vehicles
Breakup by Fuel Type:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
List of Major Key Players:
The major players in the market are BASF SE, BOSAL, Continental AG, CORMETECH Inc., Faurecia SE, Johnson Matthey, Kautex Textron GmbH & Co. KG (Textron Inc.), Magneti Marelli S.p.A., Plastic Omnium, Robert Bosch GmbH, Röchling SE & Co. KG and Tenneco Inc.
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