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According to the latest report by IMARC Group, “Global Automotive Selective Catalytic Reduction (SCR) Market Share, Size, Growth, Industry Trends, Opportunity and Forecast 2022-2027“, the global automotive selective catalytic reduction (SCR) market reached a value of US$ 7.74 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 10.93 Billion by 2027, exhibiting a CAGR of 5.60% during 2022-2027.
Automotive selective catalytic reduction (SCR) represents an advanced system that minimizes nitrogen oxide (NOx) tailpipe emissions to nearby-zero levels in newer generation diesel-powered vehicles and equipment. It generally relies on diesel exhaust fluid (DEF) to convert nitrogen oxides into nitrogen, water, and tiny amounts of carbon dioxide (CO2). In addition to this, the automotive selective catalytic reduction is highly fuel-efficient and cost-effective, which allows manufacturers to maximize fuel economy and balance engine performance.
Automotive Selective Catalytic Reduction (SCR) Market Trends and Drivers:
The increasing prevalence of respiratory diseases, on account of the inflating levels of air pollution, is primarily driving the automotive selective catalytic reduction market. Moreover, the implementation of various stringent regulations by government bodies to reduce harmful emissions from vehicles, owing to the combustion of fuel oil, diesel fuel, petrol, gasoline, biodiesel, etc., is acting as another significant growth-inducing factor.
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Apart from this, the expanding automotive industry is also positively influencing the global demand for automotive SCR. Furthermore, the leading manufacturers are extensively investing in R&D activities to introduce three-way catalysts for vehicles that enhance fuel efficiency and minimize carbon dioxide (CO2) emissions substantially at lower operating temperature. This, in turn, is anticipated to propel the automotive selective catalytic reduction market over the forecasted period.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Automotive Selective Catalytic Reduction (SCR) Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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.
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The report has segmented the market on the basis of region, component, vehicle type and fuel type.
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
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If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.
Key highlights of the report:
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• 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.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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