Diesel Exhaust Fluid (DEF) Market by Size 2028
Research Nester has released a report titled “Diesel Exhaust Fluid (DEF) Market – Global Demand Analysis & Opportunity Outlook 2028” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.
The statistics portray the rising concern amongst government of nations around the globe for vehicular emissions that affects the surrounding air. As a measure to solve the issue, several stringent norms have been introduced for vehicle manufacturers which focuses towards increasing the efficiency of vehicles as well as to reduce the contribution of particulate matter emitted by the vehicles. One such steps include the deployment of selective catalytic reduction (SCR) technology, which helps to reduce the NOx emissions of vehicles by injecting diesel exhaust fluid (DEF) into the exhaust.
The rising deployment of SCR in vehicles on the back of increasing vehicle fleet worldwide is anticipated to raise the demand for the utilization of diesel exhaust fluid in vehicles. Additionally, increasing sales of passenger and commercial vehicles around the globe coupled with the advancement in engine exhaust technology are some of the factors expected to drive the growth of the global diesel exhaust fluid (DEF) market. The International Organization of Motor Vehicle Manufacturers (OICA), in one of its statistics stated that sales of vehicles around the globe reached to 95.1 million in the year 2018from 65.9 million in the year 2005.
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The global diesel exhaust fluid (DEF) market is anticipated to grow at a CAGR of around 10% during the forecast period, i.e. 2020-2028. The market is segmented by vehicle type into commercial and passenger vehicle. The commercial segment is further segmented into light commercial vehicle, heavy commercial vehicle and buses & coaches.
Among all these segments, light commercial vehicle segment, is anticipated to hold the largest market share on account of increasing demand amongst business owners for light commercial vehicles so as to increase their process efficiency and service quality of their business. The International Organization of Motor Vehicle Manufacturers (OICA), in one of its statistics stated that light commercial vehicle segment dominated the largest share of production amongst all the type of commercial vehicles produced during the years 2017 and 2018 with a share of 82.19% and 82.39% respectively.
Geographically, the global diesel exhaust fluid (DEF)market is segmented by five major regions into North America, Europe, Middle East & Africa, Asia-Pacific and Latin America region, out of which, Europe is anticipated to hold the largest market share on account of increasing demand for SCR amongst vehicle manufacturers in the region to meet the requirements of stringent vehicle norms, along with the growing awareness for DEF amongst individuals.
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However, concerns for the impact on sales of diesel exhaust fluid (DEF) due to the rising adoption of electric vehicles, and the affect on the sales of conventional fuel vehicles, coupled with the difficulties in processing urea owing to environmental concern are some of the factors estimated to act as a barrier to the growth of the global diesel exhaust fluid (DEF)market.
This report also studies existing competitive scenario of some of the key players of the global diesel exhaust fluid (DEF)market, which includes profiling of Yara (OTCMKTS: YARIY), RelaDyne LLC, CF Industries Holdings, Inc. (NYSE: CF), PEAK, Airgas, Inc., Shaw Development LLC, Nissan Chemical Corporation (TYO: 4021), Cummins Filtration (NYSE: CMI), The McPherson Companies and BASF SE (OTCMKTS: BASFY).
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Diesel Exhaust Fluid (DEF) Market – Global Demand Analysis & Opportunity Outlook 2028”, analyses the overall diesel exhaust fluid (DEF)industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global diesel exhaust fluid (DEF)market in the near future.
