LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global automotive selective catalytic reduction (SCR) market to grow at a CAGR of more than 5% during the period 2018-2022, according to their latest report.
This market research report segments the global automotive selective catalytic reduction market by geography which includes the Americas, APAC, and EMEA. Of the three geographical regions, the Americas dominated the global automotive selective catalytic reduction market, accounting for a share of more than 44%.
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In this report, Technavio analysts highlight the increased penetration of diesel engines in commercial vehicles as a key factor contributing to the growth of the global automotive selective catalytic reduction market:
Increased penetration of diesel engines in commercial vehicles
Most of the heavy and light commercial vehicles are equipped with diesel IC engines. Heavy commercial vehicles require high amounts of torque as they are usually used for transporting heavy cargo. Diesel engines have the capability of producing large amounts of torque at low RPMs. They produce more drive force when compared with gasoline engines and are more durable as they require less maintenance. Thus, diesel engine vehicles are the first choice of commercial fleet owners for logistics and transportations.
Diesel engines emit a large amount of NOx and particulate matter compared with gasoline engines. These gases have a severe impact on the environment and the health of individuals, thereby creating a need for aftertreatment technologies such as SCR, EGR, and DPF to limit emission levels. The European Union has therefore adopted stringent diesel emission standards across Europe. This has further encouraged the development of advanced diesel technologies. These technologies ensure that diesel engines have low particulate emissions and NOx while taking full advantage of the diesel engine’s capability of better performance.
According to a senior analyst at Technavio for automotive components, “Fuel efficiency and low cost of diesel are factors that have contributed to the increased demand and sale of diesel vehicles across the globe. This is expected to have a positive impact on the demand for the global automotive SCR market. The current diesel penetration in light and heavy commercial vehicles is anticipated to drive the market for the SCR system as it can only be installed on a diesel engine.”
Furthermore, the rising fuel prices have led to an increased demand for fuel-efficiency in vehicles. OEMs have been strategizing to improve fuel economy and power output of their vehicles while striving to keep the emissions low. Heavy commercial engines that use the SCR system receive a fuel economy improvement of up to 5%. SCR catalyst technology permits higher NOx conversion efficiency and therefore the engine can be fully optimized, thereby contributing to fuel economy improvement.
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