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Global Automotive Selective Catalytic Reduction (SCR) System Market – Set to reach US$ 3.2 billion in 2023

08-14-2019 11:28 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Stratview Research

Global Automotive Selective Catalytic Reduction (SCR) System

Stratview Research experts have done an extensive study of data from different sources and have analyzed them to come up with the Automotive Selective Catalytic Reduction (SCR) System Market report. The report offers insight into the current market trend and the future estimations.
The report on Automotive Selective Catalytic Reduction (SCR) System Market, published on June,2018 by Stratview Research, will showcase the market trend of 2012-2017 and forecast period of 2018-2023.

Get a Free Sample of the Report here: https://www.stratviewresearch.com/Request-Sample/336/Automotive-SCR-System-Market.html

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.
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 supply chain of this market comprises raw material suppliers, SCR system suppliers, distributors, automotive OEMs, and dealers. Key automotive SCR system manufacturers are Tenneco Inc., Faurecia SA, Plastic Omnium SA, and Rochling Group. Major automotive OEMs in the industry, which currently relies on the SCR systems, are Ford, BMW, Renault, Citroen, and Audi. Development of integrated SCR systems and formation of strategic alliances with automakers are the key strategies adopted by the major players to gain a competitive edge in the market.

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The report on Automotive Selective Catalytic Reduction (SCR) System Market is explained segment-wise for a better understanding of the market trend.

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.
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.

Salient Features of the Report
The Stratview Report will offer you a detailed view the growth of the global automotive selective catalytic reduction system market and the future prospects of the market. Here are the key features of the report:
• Strategic Segmentation
• Competitive Analysis
• Strategic Growth Opportunities
• Swot Analysis
• Key Players
• Forecast Analysis & Future Growth

What we offer?
The global market research company, Stratview Research has been dealing with different market research reports in different sectors such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas. The team consists of the best experts who are known to offer the best assessments and screenings so that the interested companies can afford to rely upon and take corrective decisions ahead.

For inquiries, Contact:
Ritesh Gandecha
Stratview Research
E-mail: sales@stratviewresearch.com
Direct: +1-313-307-4176

400 Renaissance Center, Suite 2600, Detroit, Michigan, MI 48243 United States of America

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.

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