Automotive Selective Catalytic Reduction Market Overview 2023-2028
The global automotive selective catalytic reduction (SCR) market size reached US$ 8.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 11.5 Billion by 2028, exhibiting a growth rate (CAGR) of 5.5% during 2023-2028.
Automotive selective catalytic reduction (SCR) is an advanced emissions control technology used in diesel engines based vehicles to reduce nitrogen oxide (NOx) emissions. It relies on diesel exhaust fluid (DEF) to convert nitrogen oxides into nitrogen, water, and tiny amounts of carbon dioxide. It is highly cost effective and fuel-efficient, which enables producers to balance engine performance and increase fuel economy.
Automotive Selective Catalytic Reduction Market Trends and Drivers:
The increasing production and sales of vehicles on account of inflating income levels of individuals, rapid urbanization, and improving lifestyles represent one of the primary factors driving the demand for automotive SCR around the world. Moreover, leading manufacturers are installing automotive SCR systems in vehicles due to the implementation of stringent government regulations on vehicle emissions caused by the combustion of fuels, such as diesel, petrol, gasoline, and biodiesel. Along with this, rising concerns about high pollution levels and the surging prevalence of respiratory problems are favoring the growth of the market. In addition, the growing awareness about the benefits of automotive SCR to reduce carbon emissions is influencing the market positively. Apart from this, extensive funding research and development (R&D) projects by key players to develop three-way catalysts for vehicles that improve fuel efficiency are propelling the growth of the market.
Global Automotive Selective Catalytic Reduction Market 2023-2028 Analysis and Segmentation:
Top Key Players covered in this report 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.
The report has segmented the market on the basis of region, component, vehicle type and fuel type.
Breakup by Component:
• Urea Tank
• Urea Pump
• Engine Control Unit (ECU)
• Injector
• Others
Breakup by Vehicle Type:
• Passenger Vehicles
• Commercial Vehicles
Breakup by Fuel Type:
• Gasoline
• Diesel
Breakup by Region:
• North America
o United States
o Canada
• Asia-Pacific
o China
o Japan
o India
o South Korea
o Australia
o Indonesia
o Others
• Europe
o Germany
o France
o United Kingdom
o Italy
o Spain
o Russia
o Others
• Latin America
o Brazil
o Mexico
o Others
• Middle East and Africa
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Key highlights of the report:
• Market Performance (2017-2022)
• Market Outlook (2023- 2028)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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