Automotive Selective Catalytic Reduction (SCR) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Automotive Selective Catalytic Reduction (SCR) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global automotive selective catalytic reduction (SCR) market size reached US$ 8.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 11.5 Billion by 2028, exhibiting a growth rate (CAGR) of 5.5% during 2023-2028.

Automotive selective catalytic reduction (SCR) is an advanced active emissions control technology system that reduces nitrogen oxide (NOx) tailpipe emissions to near-zero levels in newer generation diesel-powered vehicles and equipment. It relies on diesel exhaust fluid (DEF) to convert nitrogen oxides into nitrogen, water, and tiny amounts of carbon dioxide (CO2). It is highly cost-effective and fuel-efficient, which allows manufacturers to balance engine performance and maximize fuel economy. At present, there is a rise in the production of vehicles, which is catalyzing the demand for automotive selective catalytic reduction (SCR) globally.

Automotive Selective Catalytic Reduction (SCR) Market Trends:

The growing utilization of automotive catalysts systems in emission control devices of automobiles represents one of the key factors driving the market across the globe. Moreover, governments of several countries are implementing stringent regulations on the emission of pollutants from vehicles owing to the combustion of fuels, such as diesel fuel, fuel oil, petrol, gasoline, and biodiesel. As a result, manufacturers are installing automotive SCR systems in vehicles, which is propelling the growth of the market. In addition, there is a considerable increase in the prevalence of respiratory diseases due to the growing air pollution around the world. This, coupled with the rising awareness about the benefits of automotive SCR to reduce emissions, is offering lucrative growth opportunities to industry investors. Besides this, the increasing development of transportation infrastructure worldwide is positively influencing the market. Apart from this, key market players are extensively investing in research and development (R&D) activities to develop three-way catalysts for vehicles that improve fuel efficiency and reduce carbon dioxide (CO2) emission substantially at lower operating temperatures. In line with this, the expanding automobile industry is bolstering the growth of the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global automotive selective catalytic reduction (SCR) market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, vehicle type and fuel type.

Breakup by Component:

Urea Tank
Urea Pump
Engine Control Unit (ECU)
Injector
Others

Breakup by Vehicle Type:

Passenger Vehicles
Commercial Vehicles

Breakup by Fuel Type:

Gasoline
Diesel

Breakup by Region:

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

Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.

Key Questions Answered in This Report:

What was the size of the global automotive selective catalytic reduction (SCR) market in 2022?

What is the expected growth rate of the global automotive selective catalytic reduction (SCR) market during 2023-2028?

What are the key factors driving the global automotive selective catalytic reduction (SCR) market?

What has been the impact of COVID-19 on the global automotive selective catalytic reduction (SCR) market?

What is the breakup of the global automotive selective catalytic reduction (SCR) market based on the component?

What is the breakup of the global automotive selective catalytic reduction (SCR) market based on the vehicle type?

What is the breakup of the global automotive selective catalytic reduction (SCR) market based on fuel type?

What are the key regions in the global automotive selective catalytic reduction (SCR) market?

Who are the key players/companies in the global automotive selective catalytic reduction (SCR) market?