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(USGovernment-News.Com, February 02, 2019 ) According to the new market research report "Diesel Exhaust Fluid Market by Component (SCR Catalyst, DEF Tank, Injector, Supply Module, Sensor), OHV Market by Application (Construction & Agriculture), Aftermarket by Vehicle Type, Supply Mode (Cans, IBC, Bulk & Pump), & by Region - Forecast to 2022", published by MarketsandMarkets™, The diesel exhaust fluid (DEF) aftermarket is projected to grow at a CAGR of 13.06% from 2017 to 2022, to reach a market size of USD 21.50 billion by 2022.
The rising stringency of vehicular emissions in North America, Europe, and Asia is responsible for the increase in diesel vehicles with SCR and thus is the main driver for increasing DEF consumption. Also, DEF has a huge demand in the aftermarket. A mid-class passenger car needs 0.26 gallons of DEF per 620 miles, and an SUV/MPV requires 0.4 gallons of DEF per 620 miles. Hence, there is a frequent need for DEF replacement or refill, which drives the aftermarket.
Browse and in-depth TOC on "Diesel Exhaust Fluid Market" 103 - Tables 57 - Figures 180 - Pages
“Passenger car is the fastest-growing vehicle segment in the diesel exhaust fluid aftermarket”
The passenger car segment has historically been emitting higher NOx emissions as compared to other vehicle segments such as LCV and HCV. However, with stringent emission standards such as Euro 6, the NOx emissions for passenger cars have been reduced to a very low level. To reduce the NOx emissions, exhaust after treatment has become a mandate in various countries. On the other hand, around 90–95% of heavy commercial vehicles are already equipped with SCR. Hence, the passenger car segment offers a huge opportunity for the DEF aftermarket.
“Construction equipment constitutes the largest off-highway diesel exhaust fluid market (OE) globally”
Construction equipment works in harsh conditions and must be capable of handling heavy loads. Thus, the power requirement of these vehicles is higher than that of on-road vehicles and other off-road vehicles such as agricultural tractors. Further, Tier-IV regulations have been implemented across various countries for off-highway equipment, which mandate manufacturers to reduce particulate matter and nitrogen oxide levels by 50%–90%. Hence, the increasingly stringent emission norms for construction equipment are driving the off-highway diesel exhaust fluid market.
“Asia-Oceania region constitutes the largest diesel exhaust fluid market for Original Equipment (OE) market”
The Asia-Oceania region leads the diesel exhaust OE market owing to increase vehicle production in countries such as China and India. The vehicle production in these countries is projected to grow at a CAGR of 4–5% over the period of next five years. The SCR penetration for vehicles in these countries is also expected to rise after the introduction of stringent emissions standards such as BS 4 and China 5 in 2017. This will lead to increased demand for DEF in this region during the forecast period. Alternatively, North America is estimated to lead the DEF aftermarket segment as the region has a high penetration of vehicle parc equipped with SCR as compared with other regions
The diesel exhaust fluid market is dominated by a few global players. Some of the key manufacturers operating in the market are Yara International (Norway), China Petrochemical Corporation (Sinopec) (China), CF International Holdings, Inc. (U.S.), Total S.A. (France), and BASF SE (U.K.). There are certain key innovators gaining attention in the diesel exhaust fluid market including Nissan Chemical Industries, Ltd. (Japan) and Shaw Development LLC (U.S.).
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