Stratview Research announces the launch of a new research report on Automotive Selective Catalytic Reduction (SCR) System Market by Vehicle Type (Passenger Car, LCV, and M&HCV), by Catalyst Type (Copper Zeolite, Iron Zeolite, and Others), by Catalyst Structure Type (Honeycomb Catalyst Structure and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023.
This market report, from Stratview Research, studies the automotive selective catalytic reduction (SCR) system market over the trend and forecast period of 2012 to 2017 and 2018 to 2023, respectively. The report provides detailed insights on the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Automotive Selective Catalytic Reduction (SCR) System Market: Research Highlights
There has been an incessant increase in emissions of polluting substances including carbon dioxide (CO2) and nitrogen oxide (NOx) particles from vehicles into the environment. In diesel engines, the level of NOx emissions is very high, whereas, in petrol engines, the emission of NOx particles is merely 5% that of emission from diesel engines. Hence, there is a dire need for a proficient depollution system that can curb the NOx particles emitted from diesel vehicles. At present, there are two depollution systems available for reducing NOx particle emissions from diesel engine vehicles, SCR system (Selective Catalytic System) and Lean NOx-Trap (LNT) system. Despite the high cost of SCR system, it is expeditiously gaining market traction, driven by its higher efficiency.
As per Stratview Research, the global automotive SCR system market is projected to grow at an impressive rate over the next five years to reach US$ 4.7 billion in 2023. Incessant increase in the penetration of SCR system in diesel vehicles to address the stringent regulations regarding carbon emission reductions and fuel efficiency enhancements is the prime growth driver of the market. Furthermore, growing penetration of diesel engines in commercial vehicles (LCV and M&HCV) coupled with an increased usage of SCR system to deliver greater fuel efficiency is acting as a catalyst to the burgeoning demand for SCR system in the automotive industry.
The author of the report cited that passenger car segment is expected to remain the growth engine of the global automotive SCR system market during the forecast period of 2018 to 2023. Increasing production of passenger cars coupled with increasing penetration of SCR system in diesel engine-based passenger car models is likely to elevate the demand for SCR system in the segment in the foreseeable future.
As per the study, Copper Zeolite is expected to remain the most dominant catalyst type in the global automotive SCR system market during the forecast period, owing to its better ammonia storage capabilities. Both, Iron Zeolite as well as other segments, are also likely to witness healthy growth rates over the next five years.
Based on the catalyst structure type, honeycomb structure is expected to remain the most dominant type in the global automotive SCR system market during the forecast period, owing to its better surface coverage and regular flow.
In terms of region, Europe is expected to remain the largest automotive SCR system market during the forecast period. Stricter emission norms of European Commission have led to a faster adoption of SCR System into European vehicles. Ford Focus & Fusion, BMW 5 Series & 7 Series, Renault Twingo & Talisman, Citroen C4 Picasso, and Audi Q7 are some of the key European models that are relying on SCR system to reduce the level of emissions. Asia-Pacific is likely to depict the highest growth in the same period with China and India being the key sources of growth.
Key automotive SCR system manufacturers are Tenneco Inc., Faurecia SA, Plastic Omnium SA, and Roechling Group. Major automotive OEMs in the industry, which currently rely on SCR systems, are Ford, BMW, Renault, Citroen, and Audi. Development of integrated SCR systems and formation of strategic alliances with the automakers are the key strategies adopted by the major players to gain a competitive edge in the market.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
This report studies the automotive SCR system market and has segmented the market in four ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the four ways in which the market is segmented:
Automotive Selective Catalytic Reduction System Market, By Vehicle Type
Automotive Selective Catalytic Reduction System Market, By Catalyst Type
Automotive Selective Catalytic Reduction System Market, By Catalyst Structure Type
Automotive Selective Catalytic Reduction System Market, By Region
Stratview Research has several high value market reports in the global automotive industry. Please refer to the following link to browse through our reports:
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