Press release
The Automotive Selective Catalytic Reduction System Market to experience an impressive growth to reach US$ 3.2 billion during 2018-2023
Addressing the most sought-after questions that occupy the minds of entrepreneurs and decision makers, the new report of "Stratview Research" on the Automotive Selective Catalytic Reduction (SCR) System Market, answers all the important questions.Getting to the bare bones of the issues and factors which are sculpturing the market, Stratview Research brings out the best actionable market intelligence for the global Automotive Selective Catalytic Reduction (SCR) System Market.
The analysts have scrupulously studied the trend and cautiously forecasted the future market developments for 2018-2023.
The important questions the report answers are:
1. What will be the market growth rate in the near future?
2. What are the major developments in the market wrt regulations, acquisitions and innovations?
3. What are the growth drivers as well as the constraints?
4. What are the regional growth hotspots?
5. What are the segmental growth forecasts?
These questions and many more, big and small, are all discussed in the report in great detail.
The strategic Market dissection
The dissection of the market is done to enlighten the aspects which are of interest to firms across the value chain.
Dissection by
1. Vehicle Type (Passenger Car, Light-Duty Commercial Vehicle, Medium- and Heavy-Duty Commercial Vehicle)
2. Catalyst Type (Copper Zeolite, Iron Zeolite, Others)
3. Catalyst Structure Type (Honeycomb, Others)
4. Region (North America, Europe, Asia-Pacific and RoW)
Depollution system in vehicles
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.
Between the two depollution systems available for diesel engine vehicles, the SCR system is expensive and complex but is also more efficient one than the LNT system as it converts nitrogen oxide into diatomic nitrogen and water vapor by injecting aqueous urea solution into the exhaust system. The SCR System has a maximum efficiency of 90-95% (NOx reduction of 90-95%), whereas the LNT system is a relatively less efficient system and offers the maximum efficiency of 70%. The SCR system is capable of handling a higher volume of exhaust fumes and can reduce NOx emissions up to 90 percent, while simultaneously reducing HC (hydrocarbon) and CO (carbon monoxide) emissions by 50-90 percent, and PM (particulate matter) emissions by 30-50 percent.
Despite the high cost of the SCR system, it is expeditiously gaining the market traction, driven by its higher efficiency. Another factor giving an impetus to the demand for SCR system over LNT system is that there is a problem of clogging associated with the LNT system that results into the blockage of EGR (exhaust gas recirculation) valve. Due to which, automakers cannot reduce the number of recirculation processes, which leads to an increase in temperature and rise in the rate of NOx particles exceeding the amount of NOx that the LNT system can handle.
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The Growth Prognosis & its Drivers
The global automotive SCR system market is projected to grow at an impressive rate over the next five years to reach US$ 3.2 billion in 2023. Incessant increase in the penetration of SCR system in diesel vehicles to address the stringent regulations regarding the NOx emission reductions and fuel efficiency enhancements is the prime growth driver of the market.
Development of innovative SCR system is an indispensable focus area of the SCR system suppliers based on the requirements of auto OEMs. The market for SCR system is marked by major global automotive tier players including Faurecia, Plastic Omnium, and Tenneco. Also, it is expected that the excellent growth of SCR system may entice other players to enter the market to tap the growth potential.
The Key players
The top players are Tenneco Inc., Faurecia SA, Plastic Omnium SA, and Rochling Group.
Other important firms are Ford, BMW, Renault, Citroen, and Audi.
The undisputed Dominance of the Europe
Based on regions, Europe is expected to remain the largest automotive SCR system market during the forecast period. Stricter emission norms of the 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 during the forecast period with China and India being the key sources of growth.
Emerging Trends: The global automotive SCR system market is segmented based on the vehicle type as Passenger Car, LCV (Light Commercial Vehicle), and M&HCV (Medium- and Heavy-Duty Commercial Vehicle). Passenger car segment is expected to remain the growth engine of the 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.
Based on the catalyst type, the automotive SCR system market is segmented as Copper Zeolite, Iron Zeolite, and Others (platinum, palladium, rhodium, etc.). 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, the market is segmented as honeycomb catalyst structure and others (plate and corrugated 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.
Click Here for Other Reports from Stratview Research in the Automotive Industry: https://www.stratviewresearch.com/market-reports/Automotive-Transportation.html
About Stratview Research
Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making.
400 Renaissance Center, Suite 2600, Detroit, Michigan, MI 48243 United States of America
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