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Global Selective Catalytic Reduction Market to Top USD 152.81 Mn by 2026
Global Selective Catalytic Reduction Market
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Selective Catalytic Reduction (SCR) is an emission controlling framework extensively used to reduce the emission of nitrogen oxide. SCR is used to curb the hazardous gases emitted in the environment by various industries and vehicles. Selective catalytic reduction works on anhydrous or aqueous ammonia, aqueous ammonia or urea SCR for the reduction reaction. Selective catalytic reduction provides several advantages for instance, better fuel economy, easy installation, meets several emission standards among others.
Selective catalytic reduction (SCR) has wide applications in various applications including oil and gas, steel plant, chemical industry, power generation industry, and automotive industry. Selective catalytic reduction (SCR) is also used in some of the many different applications of off-road engines and equipment. Furthermore, manufacturers operating in selective catalytic reduction market are expanding in industry verticals such as marine, material handling among others to reduce emission of harmful gases. Owing to wide application areas of selective catalytic reduction (SCR) the market is expected to drive demand. In addition, several government organizations are focusing on reducing emission of nitrous oxide to control environmental threats caused by such gases. This is one of the primary drivers of selective catalytic reduction market. Furthermore, the market is experiencing several mergers and acquisitions among top companies across the map to expand their global presence in selective catalytic reduction market.
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Additionally, the manufacturers operating in the Selective Catalytic Reduction market are focused on improving Selective Catalytic Reduction performance by introducing safe and high-performance devices that detect hazardous gas emission during the manufacturing process of chemicals, transportation, and others.
By product type, the market is divided into Anhydrous Ammonia-SCR, Aqueous Ammonia-SCR, and Urea-SCR. Urea SCRtype accounted for the largest market share of 64% in the year 2019. The growth of the Urea segment is accelerated due to the non-toxic nature of Urea. The global Aqueous Ammonia-SCR type contributed to USD 3,568.9Mn in 2019 accounting for second largest segment of the Selective Catalytic Reduction market. By application, the market is classified into transportation, power industry, chemical industry, steel plant, and others. Transportation application led the market accounting to the largest market share of 46% in 2019 owing to the increase in the number of passenger vehicles globally.
Geographically, the global Selective Catalytic Reduction Market was dominated by the Asia Pacific by generating revenues worth USD 6588.6Mn in 2019. This dominance is majorly attributed to the rising demand for selective catalytic reduction usage in automotive & transportation, marine, chemical, and oil & gas end-use industries. Furthermore, North America is set to observe the second-fastest growth with a market share of 25% over the forecast period.
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There are several key players operating in the Selective Catalytic Reduction Market around the globe some of them include Johnson Matthey, Hitachi Zosen, Wartsila, GEA, Babcock & Wilcox, Dürr, Rochling, Scheuch GmbH, Eminox, DCL International, Baumot, Babcock Power Environmental, VoSS, and Others.
This report segments the Selective Catalytic Reduction Market as follows:
Global Selective catalytic reduction Market: By Product TypeSegmentation Analysis
Anhydrous Ammonia-SCR
Aqueous Ammonia-SCR
Urea-SCR
Global Selective catalytic reduction Market: By Application Segmentation Analysis
Transportation
Power Industry
Chemical Industry
Steel Plant
Others
Global Selective Catalytic Reduction Market: Regional Segment Analysis
North America
The U.S.
Canada
Mexico
Rest of North America
Europe
France
The UK
Spain
Germany
Italy
Nordic Countries
Denmark
Finland
Iceland
Sweden
Norway
Benelux Union
Belgium
The Netherlands
Luxembourg
Rest of Europe
Asia Pacific
China
Japan
India
New Zealand
Australia
South Korea
Southeast Asia
Indonesia
Thailand
Malaysia
Singapore
Rest of Southeast Asia
Rest of Asia Pacific
The Middle East & Africa
Saudi Arabia
UAE
Egypt
Kuwait
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
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