Selective Catalytic Reduction (SCR) Market Information Report Vehicle Type (passenger vehicle and commercial vehicle) By Application (diesel powered vehicles and gasoline powered vehicles), , Region (Tracking and Optimization), and by Regions - Global Forecast 2027
|ID: VPR/A&T/1039||Publishing Year: October 2021||Pages: 78||Format:|
Selective Catalytic Reduction (SCR) Market Overview:
The Selective Catalytic Reduction (SCR) Market is projected to grow from USD 6.8 billion in 2020 to reach USD 14.3 billion by 2027; it is expected to grow at a CAGR of 11.2% from 2020 to 2027.
By injecting automotive-grade urea into exhausts, Selective Catalytic Reduction reduces nitrous oxide emissions, resulting in the conversion of nitrogen oxides to carbon dioxide, nitrogen, and water. SCR (Selective Catalytic Reduction) has seen tremendous growth in recent years, owing to favourable government policies around the world aimed at reducing car emissions. The alarming rise in health risks associated with automobile emissions has resulted in increased public awareness, contributing to the Growth of the Selective Catalytic Reduction (SCR) Market. With diesel engines accounting for a large portion of vehicle emissions, the use of Selective Catalytic Reduction in diesel vehicles has exploded in popularity in recent years. Many major automobile manufacturers are paying attention to the growing demand for improved fuel efficiency in vehicles, as a result of which the Selective Catalytic Reduction Market has seen rapid expansion in recent years. The growing popularity of single module aftermarket treatment devices, which are designed to fulfil higher fuel efficiency and greenhouse emissions criteria around the world, is one of the most recent market trends.
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 MagnetiMarelliS.p.A. (Italy), Amminex Emissions Technology (Denmark), Toyota Motor Corporation (Japan), and SDC Materials (U.S.)
The significance of Selective Catalytic Reduction Systems in industrial boilers, utility boilers, and municipal solid waste boilers has aided market expansion. These boilers aid in the reduction of nitrogen oxides by 70 percent to 90 percent. This is a crucial factor to consider for research institutions that want to put these boilers to work. The expanding importance of waste management, together with the significant investments made in this area, has fueled market expansion. Furthermore, state authorities' earnestness about disposing of solid waste has allowed new income to flow into the Global Selective Catalytic Reduction Catalyst Market.
Selective Catalytic Reduction Catalysts have become increasingly significant in the smooth operation of diesel engines in recent years. The capacity to convert nitrogen oxides to more useful compounds has aided in the widespread adoption of these Catalysts in the Automotive Sector. In recent years, several research lines relating to the importance of Selective Catalytic Reduction Catalyst in the vehicle sector have emerged. Gas turbines have become an important part of regional energy infrastructure, and this tendency will continue to drive market expansion. Sales in the Selective Catalytic Reduction Catalyst Market will be driven by several research entities' quest to create new technologies for manufacturing diesel locomotives.
The Global Automotive Selective Catalytic Reduction (SCR) System Market is divided into three categories: passenger cars, light commercial vehicles (LCVs), and medium and heavy commercial vehicles (M&HCVs) (Medium- and Heavy-Duty Commercial Vehicle). During the forecast period of 2018 to 2023, the passenger car sector is likely to be the market's growth engine. In the near future, rising passenger car production combined with increasing penetration of SCR systems in diesel engine-based passenger car models is expected to drive higher demand for SCR Systems in the segment.
The Vehicle Selective Catalytic Reduction (SCR) System Market is divided into three categories: Copper Zeolite, Iron Zeolite, and Others (platinum, palladium, rhodium, etc.). Because of its superior ammonia storage capabilities, copper zeolite is likely to remain the most popular catalyst type in the Worldwide Selective Catalytic Reduction (SCR) Market system Market during the projection period. Over the next five years, both Iron Zeolite and other segments are expected to develop at a respectable rate.
The paper gives a comprehensive overview of the industry, using both qualitative and quantitative data. Based on several segments, it gives an analysis and prediction of the Global Selective Catalytic Reduction Market. It also includes market size and forecast projections for five major regions: North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South and Central America, from 2020 to 2028. The Selective Catalytic Reduction Market is further split by nations and categories within each region. The research examines and forecasts 18 countries throughout the world, as well as the present trend and prospects that exist in the region.
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