According to the latest reports, the global diesel engine catalyst market value is predicted to register a 7.36% CAGR during the forecast period. Diesel oxidation catalyst (DOC) is a component that is basically designed to convert carbon monoxide (CO) and hydrocarbons into water and carbon dioxide (CO2). It breaks down toxic waste in the exhaust stream from the engine and helps in the reduction of particulate matter (PM).
The global diesel engine catalyst market size is predicted to witness magnificent growth during the forecast period. Diesel engine catalyst is assembled accurately for diesel engines and the equipment to alleviate emissions. It is cost-effective, simple, maintenance-free, applicable to diesel engines, and suitable for all types of diesel engines. The transport industry has taken initiatives and set emission reduction targets in order to control emissions. The manufacturers are investing in the growing market that meets the government standards is likely to put a positive impact on the global market.
This report contains all the information on the global diesel engine catalyst market trends, research, and market strengths. The report also contains the culmination of dynamics, segmentation, key players, regional analysis, and other important factors. And a detailed analysis of the global diesel engine catalyst market analysis and forecast to 2025 is also included in the report.
Covid 19 Analysis
The production of the diesel engine catalyst gone to a halt due to the outbreak of the global pandemic covid 19 in order to stop the spread of the coronavirus in the countries. Apart from the essential goods, demand for all other goods has also fallen down. Covid 19 has downgraded the growth of the diesel engine catalyst market industry and due to that; this industry is running at 25% of its whole capacity.
From the past few years, diesel segments have gained more popularity as compared to any gasoline engine due to its superior quality reliability, fuel economy, and durability. This is the major factor for the growth of the global diesel engine catalyst market. According to the reports, about 60% of all new vehicles in Europe are equipped with diesel engines.
Several factors including rising demand for Sca in diesel engines, regulation of emission control to the growing aftermarket for catalyst convertor, use of wash coat technology and innovations, and increasing recognitions about the benefits of catalyst converter by the key manufacturers are driving the growth of the market over the forecast period.
The rising population in strong economic countries like India and China is increasing the demand for more vehicles for transportation purposes. The demand for diesel engines is relatively higher as compared to gasoline engines which in turn are expected to increase the demand for diesel and hence projected to create a good opportunity for the diesel engine catalyst market revenue.
North America and Europe are predicted to be the major regions for the diesel engine catalyst market because these regions are making efforts continuously to reduce air pollution and hence set high emission standards.
The dependence of performance on the basis of temperature and thermal deactivation and poisoning activities are increasing the demand for electric vehicles or battery electric vehicles and due to that the prices of diesel are fluctuating which is considered as the major restraint in the global diesel engine catalyst market growth over the forecast period.
Diesel engines are the technology of choice for decentral power supply and propulsion in the last century. The high density of hydrocarbon-based fuels cannot be replaced by any alternative technologies, and accordingly, the role of diesel engine applications remains intact. Furthermost, the functionality of the diesel engine catalyst remains unchanged from the time it was discovered but the internal combustion engine is likely to go through several substantial developments which are driven by many challenges.
Cumulative Growth Analysis
The focus of the major key player, Magneti Marelli S.p.A enhancing the portfolio of the product is likely to increase the global diesel engine catalyst share in the automotive segment. The company has formed a strong relationship with multinational companies in order to develop products that are easy to use, eco-friendly for the global diesel engine catalyst, and safe.
Moreover, it targets all the developing countries by the established joint ventures in order to expand its business operations. It is expected to cut the costs of the company through expanding its base in the global market, synergies, or collaborations.
Value Chain Analysis
According to the reports, the global market is segmented on the basis of technology, application, sales and channel, and regions. On the basis of technology, the global diesel engine catalyst market is segmented into diesel oxidation catalysts (DOC), diesel particulate filters (DPF), selective catalytic reduction (SCR), and others. The diesel oxidation catalyst (DOC) segment accounts for the largest diesel engine catalyst market share in the year 2018 due to the less cost of maintenance and easy installation of the diesel engine catalyst. Based on application, the global market is segmented into on-road and off-road. The on-road segment is predicted to hold maximum market share due to the rise in the sale of passenger vehicles and commercial vehicles across the globe and the developments in technology.
Based on the sales and channel, the global market is segmented as OEM and aftermarket. The OEM segment is predicted to account for the maximum diesel engine catalyst market share due to the focus of the automotive manufacturing companies in reducing the emission levels and meet the upcoming vehicle emission standards all over the world.
The market is segmented on the basis of technology, application, sales and channel, and regions. The global diesel engine catalyst market is expected to witness decent growth during the forecast period.
Based on the application, the market is segmented into on-road and off-road
Based on the propulsion types, the market is segmented into OEM and aftermarket
Global Diesel Engine Catalyst Market, by Region, 2018
Source: MRFR Analysis
According to the reports, the global diesel engine catalyst market is segmented on the basis of the regions into North America, Europe, Asia Pacific (APAC), and the rest of the world. Asia Pacific region is predicted to witness significant growth in the global market due to the new emission standards issued by the respective governments. The rapid development of the automotive industry in the Asia Pacific is responsible for the rise in the automotive sale and production in developing countries such as India and china of these regions.
The continuous efforts of the governments of the Asia Pacific region to reduce the emission are expected to boost the global diesel engine catalyst market outlook during the forecast period. The factor contributing to the increase in sales of automobiles are initiatives to improve FDI, low production costs, fast infrastructure development, and growing per capita income.
The global market competitive landscape offers a detailed analysis of the competitors. These details include company financial positions, an overview of the company, market potential, revenue generated, global presence, new initiatives in the global market, production facilities and sites, investment in developments and research, product width and breadth, product capacities, application dominance, and strengths of the company and its weaknesses.
Major Key Players
The following report comprises of –
In March 2019, Johnson Matthey launched an innovative, automatically regenerating Active DPF diesel particulate filter (DPF) system for stationary diesel engines.
Sales Channel Outlook
o The U.S.
o South Korea
o Saudi Arabia
o South Africa
Frequently Asked Questions (FAQ) :
The diesel engine catalyst market is projected to mark 7.36% CAGR.
The diesel engine catalyst market is poised to be dominated by APAC market.
Europe held the second spot in 2018.
The application based segments of the diesel engine catalyst market are off-road and on-road.
The on-road segment is anticipated to account for the pole position.
The OEM segment resonates strong potential and is supposed to drive market growth.
The key contributors are Johnson Matthey (UK), BASF SE (Germany), Magneti Marelli S.p.A. (Italy), SANGO Co., Ltd (Japan), Perkins Engines Company Limited (UK), Umicore N.V. (Belgium), CDTi Advanced Materials, Inc. (US), Eberspächer (Germany), Nett Technologies Inc. (Canada), and Continental AG (Germany).