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Selective Catalytic Reduction (SCR) Market is Expected to Showcase Rampant Growth Over 2023 :

Pune, India, August 2019, MRFR Press Release/- Market Research Future has Published a Half-Cooked Research Report on the Global Selective Catalytic Reduction (SCR) Market.

Market Overview

According to the latest report by Market Research Future (MRFR), the global selective catalytic reduction market is probable to register a substantial market valuation over the review period, at a significant growth rate. The alarming growth in health risks caused owing to vehicular emission has given rise to in rising awareness among individuals, which is consequently contributing to the growth of the selective catalytic reduction (SCR) market. With diesel engines providing a significant part of the vehicle emission, application of selective catalytic reduction in diesel vehicles has boosted in recent times. Many major producers in the automotive industry are paying attention towards the rising demand for advanced fuel efficiency in cars as a result of which selective catalytic reduction market has registered a high growth rate at present, and is expected to grow substantially in the forecast period. Latest trends in the market comprise the growing prominence of a single module aftermarket treatment device which is designed to meet advanced fuel efficiency and greenhouse gas standards across the globe.

On the other hand, the high cost associated with the selective catalytic reduction is likely to act as a diesel-powered restraint for the market. But with the recent measures being undertaken by governments to reduce emission levels, and manufacturers also focusing on reducing  their carbon footprint, this hindering factor is expected to improve over the review period.

Segmental Analysis

The global SCR market has been segmented based on application as gasoline-powered vehicles and diesel-powered vehicles. Based on the vehicle type, the market has been segmented as a commercial vehicle and passenger vehicle.

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Regional Analysis:

On the basis of region, the global selective catalytic reduction market has been segmented as North America, Asia-Pacific, Europe, Middle East & Africa, and South America. 

The Asia-Pacific region is likely to provide profitable opportunities to key market players in the selective catalytic reduction (scr) system market in the region. Strict government regulations along with improving transport facilities and infrastructure are likely to help the development of the selective catalytic reduction (SCR) system market in APAC over the review period. With government establishments in countries such as India, Thailand, and China encouraging original equipment manufacturers (OEMS) to adopt such systems in vehicles primarily to improve fuel efficiency and control emissions, the market for Selective Catalytic Reduction (SCR) is projected to thrive in this region. Increasing vehicle production and demand in the Asia-Pacific region is also likely to influence the selective catalytic reduction market. Growing investment in the automotive sector, coupled with the huge overhaul of the infrastructure are additional significant factors fuelling the market in this region.

Other significant regions such as North America and Europe, are also likely to contribute significantly to the rapid growth of the global selective catalytic reduction market over the review period. Existence of sophisticated technology and primary producers in the North American and European region offers a solid basis for the selective catalytic reduction (SCR) firms in these regions. The established automotive industries in both areas also help the growth of the market in these regions, mainly due to the availability of urbane infrastructure for the major market layers to build gasoline-powered machines and vehicles. Moreover, the presence of stringent laws and government regulations is expected to drive market players to invest in developing countries with readily available raw materials, cheap labor, and less strict regulations.

Key Players

The key players identified by MRFR in the global Selective Catalytic Reduction market are Harman International Industries, Inc., Faurecia SA (France), Eberspacher Group (Germany), Tenneco, Inc. (U.S.), Magneti Marelli S.p.A. (Italy), Benteler International AG (Germany), Amminex Emissions Technology (Denmark), Toyota Motor Corporation (Japan), and SDC Materials (U.S.).