ID: MRFR/AM/3881-HCR | February 2021 | Region: Global | 111 pages
Selective catalytic reduction basically controls the emission of nitrous oxide by adding automotive grade urea into the exhausts which results in conversion of nitrogen oxides into carbon di oxide, nitrogen and water. Selective Catalytic Reduction (SCR) has witnessed tremendous growth off late mainly due to the favorable government policies across the globe trying to curb vehicle emission. Alarming growth in health hazards caused due to vehicular emission have resulted in growing awareness among individuals contributing towards the growth of the selective catalytic reduction (scr) market. With diesel engines contributing a major part of the vehicle emission, application of selective catalytic reduction in diesel vehicles has propelled in recent times. Many major manufacturers in the automotive industry are paying head towards the growing demand for higher fuel efficiency in vehicles as a result of which selective catalytic reduction market has registered high growth rate off late. Latest trends in the market include the growing prominence of single module aftermarket treatment device which is designed to meet higher fuel efficiency and greenhouse gas standards across the globe.
High cost associated with the selective catalytic reduction is expected to act as a major restraint for the market
The global selective catalytic reduction market has been segmented on the basis of application as diesel powered vehicles and gasoline powered vehicles. On the basis of vehicle type the market has been segmented as passenger vehicle and commercial vehicle. On the basis of region the market has been segmented as North America, Europe, Asia-Pacific, Middle East & Africa and South America.
The Asia-Pacific region is expected to provide lucrative opportunities to layers in the Selective Catalytic Reduction (SCR) system market. Stringent government regulations combined with improving transportation facilities and infrastructure are expected to aid the growth of the Selective Catalytic Reduction (SCR) system market in this region. With government authorities in countries such as India and China encouraging original equipment manufacturers to implement such systems in vehicles mainly to enhance fuel efficiency and curb emissions, the market for Selective Catalytic Reduction (SCR) is expected to thrive in this region. Growing vehicle production and demand in the Asia-Pacific region is also expected to push the demand in the selective catalytic reduction market. Increasing investment in the automotive sector combined with massive overhaul of the infrastructure are other major factors driving the market in this region.
Other regions such as North America and Europe are also poised for rapid growth. Existence of sophisticated technology and major manufacturers in this region provides solid groundwork for the Selective Catalytic Reduction (SCR) firms in this region. Established automotive industry also aids the growth of the market in these regions mainly due to the availability of sophisticated infrastructure for the major market layers to build up on.
The key players of global Selective Catalytic Reduction (SCR) market are Faurecia SA (France), Tenneco, Inc. (U.S.), Eberspacher Group (Germany), Benteler International AG (Germany), and Magneti Marelli S.p.A. (Italy), Amminex Emissions Technology (Denmark), Toyota Motor Corporation (Japan), and SDC Materials (U.S.)
The report for Global Selective Catalytic Reduction (SCR) Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
|Market Size||2030: Significant Value|
|CAGR||2030: Substantial CAGR|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Application and Vehicle Type|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Faurecia SA (France), Tenneco, Inc. (U.S.), Eberspacher Group (Germany), Benteler International AG (Germany), and Magneti Marelli S.p.A. (Italy), Amminex Emissions Technology (Denmark), Toyota Motor Corporation (Japan), and SDC Materials (U.S.)|
|Key Market Opportunities||The automotive sector combined with massive overhaul of the infrastructure|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
Technological advancements, rapid urbanization, and increasing initiatives to crub vehicle emissions are driving the growth of the market.
the high cost associated with SCR are likely to hamper the growth of the selective catalytic reduction (SCR) market over the review period.
The gasoline-powered vehicles segment is slated to expand as the fastest-growing segment.
The commercial vehicle segment is slated to expand as the fastest-growing segment.
A few major market players operating in the global selective catalytic reduction (SCR) market are Eberspacher Group (Germany), Faurecia SA (France), Tenneco, Inc. (U.S.), Benteler International AG (Germany), among others.