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Diesel Oxidation Catalyst Market to Garner Brimming Revenues by 2025

08-23-2018 04:25 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Transparency Market Research

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Diesel Oxidation Catalyst Market to Garner Brimming Revenues

A diesel oxidation catalyst, or DOC, is a device that employs a chemical process in order to break down pollutants from a diesel engine in the exhaust stream, turning them into less harmful components. The process is similar to an automobile's catalytic converter. Diesel oxidation catalysts oxidize carbon monoxide, hydrocarbons, and aldehydes contained in diesel exhaust to non-toxic compounds: carbon dioxide and water vapor. This catalyst formulation provides a 90% reduction of carbon monoxide (CO) and an 80% reduction of hydrocarbons (HC) in all applications with medium to high exhaust temperatures. Diesel oxidation catalysts stimulate chemical oxidation of the soluble organic fraction (SOF) portion of diesel particulates. DOC also oxidizes sulfur dioxide present in the diesel exhaust.

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Conversion of diesel particulate matter is an important function of the modern diesel oxidation catalyst. Currently, the standards are strict for heavy duty diesel engines; however, many existing buses and trucks continue to emit harmful pollutants such as NO2 and diesel particulate matter (PM), which contributes to very serious health issues. DOC is an excellent example of a pollutant control device that can be utilized to upgrade a diesel engine or retrofit (add) it in order to minimize the pollutants. Diesel oxidation catalyst can be of two types, two-way type catalytic converter and three-way type catalytic converter.

The application of the diesel oxidation device or technology can be practically found in all the vehicles using diesel engines such as passenger diesel car, urban transit buses, heavy duty trucks, and off-highway equipment. The diesel oxidation catalyst market finds application in the construction industry, mining industry, material handling or logistics industry, power generation, marine & utility, locomotives, & gantry cranes.

A major driver for the diesel oxidation catalyst market is the implementation of strict and tough emission norms across the world. Increased usage of diesel automobiles is another driver for the diesel oxidation catalyst market. A diesel engine delivers better mileage than a gasoline engine, hence it is cost effective. Thus, for large-scale transportation of goods or people, the vehicles are operated on diesel engines. Diesel oxidation catalyst fitted with the engines of these vehicles is estimate to help achieve the fixed emission standards. A key restraint for the diesel oxidation catalyst market is the rising trend of battery electric vehicles (BEV). However, the restraint is applicable to passenger diesel car segment, which contributes a significant share to diesel engine usage.

The global diesel oxidation catalyst market is likely to expand. Asia Pacific is anticipated to lead the global diesel oxidation catalyst market. Countries such as India & China are rising as strong economies, which is projected to witness increase in trade. Moreover, rising population of these economies is anticipated to increase the demand for more vehicles for transportation. Demand for diesel engines is likely to be higher, as it is more economic than gasoline engine. This, in turn, is projected to raise the demand for diesel, which is estimated to create a better opportunity for the diesel oxidation catalyst market. North America and Europe are anticipated to be major regions for the diesel oxidation catalyst market. These regions have set high emission standards in order to reduce air pollution.

Key players operating in the diesel oxidation catalyst market are Nett Technologies Inc., Perkins Engines Company Limited, Donaldson Company, Inc., umicore Automotive Catalyst, Clean Diesel Technologies, Inc., Johnson Matthey, Shuster Corporation, AECC, ROADWARRIOR, Cummins Inc., and Blackthorn.

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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