Portland, OR, July 06, 2020 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global automotive SCR market accounted for $6.05 billion in 2018, and is anticipated to $15.05 billion by 2026, growing at a CAGR of 12.0% from 2019 to 2026.
Implementation of emission control regulation by government and increase in automobile production have boosted the growth of the global automotive SCR market. However, surge in production of electric vehicles and high cost of catalysts hamper the market growth. On the contrary, innovations in emission control catalysts and government initiatives for emission reduction in developing nations are expected to create lucrative opportunities in the near future.
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The global automotive SCR market is segmented on the basis of component, vehicle type, fuel type, and geography. Based on component, the market is divided into urea tank, urea pump, engine control unit (ECU), and injector. The urea tank segment held the largest share in 2018, accounting for around two-fifths of the market. However, the injector segment is projected to register the highest CAGR of 15.3% during the forecast period.
On the basis of vehicle type, the market is segmented into passenger cars and commercial vehicles. The passenger cars segment dominated the market in 2018, accounting for nearly three-fourths of the market. However, the commercial vehicles segment is projected to register the portray the highest CAGR of 12.7% during the forecast period.
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Based on fuel type, the market is categorized into gasoline and diesel. The diesel segment held the largest share in 2018, contributing to more than 99% of the market. However, the petrol segment is projected to register the highest CAGR of 28.3% from 2019 to 2026.
The global automotive SCR market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific dominated the market in 2018, accounting for more than half of the market, and is projected to register the highest CAGR of 15.1% during the forecast period.
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The global automotive SCR market report includes an in-depth analysis of the major market players such as Faurecia, Bosal, Johnson Matthey, Friedrich Boysen GmbH & Co., KG., Magneti Marelli SPA, Kautex Textron GmbH & Co., KG, Robert Bosch GmbH, Plastic Omnium SA, Rochling Group, and Tenneco Inc.
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