New York, United States , May 21, 2024 (GLOBE NEWSWIRE) -- The Global Diesel Exhaust Fluid Market Size Expected to Grow from USD 38.5 Billion in 2023 to USD 55.24 Billion by 2033, at a CAGR of 7.49% during the forecast period 2023-2033.
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DEF is extensively utilised in diesel engine emission control systems. It's an odourless solution made of pure water and high-quality urea. The major purpose of DEF is to minimise nitrogen oxide (NOx) emissions, which have been linked to air pollution and smog formation. DEF fuel is the future of many industries that are currently unable to be electrified. Many countries in Europe and North America have implemented Euro 6 and Tier 4 emission regulations, respectively. These rules promote the use of selective catalytic reduction (SCR) systems, which increases the use of diesel exhaust fluid. In addition, the expanding popularity of industrial sectors such as construction, mining, and production, as well as an increase in agricultural activities, drives demand for diesel-powered equipment, resulting in higher usage of diesel exhaust fluid (DEF) for emission control in these applications. However, variations in diesel fuel prices directly affect the demand for diesel exhaust fluid (DEF). This is because higher fuel costs may lead to decreased vehicle utilisation or fleet optimisation measures, lowering DEF consumption and limiting market expansion.
Browse key industry insights spread across 200 pages with 120 Market data tables and figures & charts from the report on the " Global Diesel Exhaust Fluid Market Size, Share, and COVID-19 Impact Analysis, By Technology (Selective Catalytic Reduction (SCR), Lean NOx Trap (LNT), Exhaust Gas Recirculation (EGR)), By Supply (Cans, IBCs, Bulk & Pumps), By Vehicle (Passenger, Commercial, Light Commercial Vehicles, Heavy Commercial Vehicles), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033"
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The selective catalytic reduction (SCR) segment is expected to hold the largest share of the global diesel exhaust fluid market during the anticipation timeframe.
Based on the technology, the global diesel exhaust fluid market is categorized into selective catalytic reduction (SCR), lean NOx trap (LNT), exhaust gas recirculation (EGR). Among these, the selective catalytic reduction (SCR) segment is expected to hold the largest share of the global diesel exhaust fluid market during the anticipation timeframe. A conducting SCR has a relatively low voltage loss. This will lower the power dissipation in the SCR. It can be safeguarded using a fuse.
The bulk & pumps segment is expected to grow at the fastest CAGR during the anticipation timeframe.
Based on the supply, the global diesel exhaust fluid market is categorized into cans, IBCS, bulk & pumps. Among these, the bulk & pumps segment is expected to grow at the fastest CAGR during the anticipation timeframe. Bulk and pumps offer significant cost advantages over smaller containers like bottles and drums, especially for high-volume users.
The heavy commercial vehicles segment is expected to hold a significant share of the global diesel exhaust fluid market during the anticipation timeframe.
Based on the vehicle, the global diesel exhaust fluid market is categorized into passenger, commercial, light commercial vehicles, and heavy commercial vehicles. Among these, the heavy commercial vehicles segment is expected to hold a significant share of the global diesel exhaust fluid market during the anticipation timeframe. Heavy commercial vehicles have high mileage and payloads, requiring the most effective DEF solution. Larger quantities consumed in trucks justify favourable bulk pricing. While the initial costs of larger DEF tanks and premium after-treatment equipment are unavoidable when attempting to meet emission regulations, bulk providers work closely with OEMs/fleets to optimize overall DEF consumption. Condition-based DEF replenishment avoids under- or overfilling.
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North America is projected to hold the largest share of the global diesel exhaust fluid market over the anticipation timeframe.
North America is projected to hold the largest share of the global diesel exhaust fluid market over the anticipation timeframe. Both the United States and Canada have a huge number of automobiles on the road, as well as stringent emission rules like the US Clean Air Act (CAA), which is propelling the North American diesel exhaust fluid sector. Mexico's increased economic activity and improving business climate have resulted in high demand for diesel-intensive cars and equipment, while compliance with pollution restrictions has driven demand for DEF in the country.
Europe is expected to grow at the fastest CAGR growth of the global diesel exhaust fluid market during the anticipation timeframe. The European Union Euro6 has implemented standards requiring the installation of SCR systems in new diesel vehicles, increasing demand for DEF in the European region. The German diesel exhaust fluid market held the most market share, while Australia's diesel exhaust fluid market grew the fastest in the area. The Austrian government has stated that it will invest 100 million in DEF infrastructure over the next five years.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global diesel exhaust fluid market are Engen Petroleum Ltd, Borealis AG, BASF SE, Yara, Mitsui Chemicals Inc, BP p.l.c, Nissan Chemical Corporation, GreenChem, NOVAX Material & Technology Inc, Royal Dutch Shell PLC, Adeco doo, and others.
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Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global diesel exhaust fluid market based on the below-mentioned segments:
Global Diesel Exhaust Fluid Market, By Technology
- Selective Catalytic Reduction (SCR)
- Lean NOx Trap (LNT)
- Exhaust Gas Recirculation (EGR)
Global Diesel Exhaust Fluid Market, By Supply
- Cans
- IBCs
- Bulk & Pumps
Global Diesel Exhaust Fluid Market, By Vehicle
- Passenger
- Commercial
- Light Commercial Vehicles
- Heavy Commercial Vehicles
Global Diesel Exhaust Fluid Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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Global Diesel Exhaust Fluid Market Size, Share, and COVID-19 Impact Analysis, By Technology (Selective Catalytic Reduction (SCR), Lean NOx Trap (LNT), Exhaust Gas Recirculation (EGR)), By Supply (Cans, IBCs, Bulk & Pumps), By Vehicle (Passenger, Commercial, Light Commercial Vehicles, Heavy Commercial Vehicles), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033
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