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Driven by the Incessant increase in the penetration of SCR system in diesel vehicles, Automotive SCR System Market is expected to grow beyond US$ 3.2 billion

This report, from Stratview Research, studies the automotive selective catalytic reduction (SCR) system market over the trend period 2012 to 2017 and forecast period 2018 to 2023 both in terms of value and units.
Published 31 May 2019
Market & Growth Prognosis: Analyzing the market over a period of 2012-17, Stratview Research goes to the crux of the issues shaping the market and estimates the most probable future growth rate for the Automotive Selective Catalytic Reduction (SCR) System Market during the period 2018-23.
 
Stratview Research triangulates the market to grow at a healthy CAGR over the next five years and expects the market to breach the barrier of US$ 3.2 billion by 2023.
 
The Diverse Stand Points

The true picture of the market shall not emerge till the time the market is analyzed from various point of views. Each vantage point gives better understanding of the market. The market of Automotive Selective Catalytic Reduction (SCR) System has been viewing from various perspectives such as:
 
Dissection By (Segments)
  1. Vehicle Type (Passenger Cars, Light Commercial Vehicles, Medium- & Heavy-Duty Commercial Vehicle, Others)
  2. Catalyst Type (Copper Zeolite, iron Zeolite, Others)
  3. Catalyst Structure Type (Honeycomb, Others)
  4. By Region (North America, Europe, Asia-Pacific and Rest of the World)
 
Each view helps us answer a prominent question, and we bring out the best market intelligence which is of interest to each and every player in the market, no matter where he lies in the value chain.
 
The answers to the prominent questions which are evinced out of above slicing of the market are:
  • Which are the best performing segments of the market?
  • Which is the most dominant region?
  • Which material is the most promising?
  • Who are the movers and shakers of the market?
  • What are the regional growth hotspots?
  • What are the segmental growth forecasts?
 
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The Factors Driving the market

There has been an incessant increase in emissions of polluting substances including carbon dioxide (CO2) and nitrogen oxide (NOx) particles from vehicles into the environment. In diesel engines, the level of NOx emissions is very high, whereas, in petrol engines, the emission of NOx particles is merely 5% that of emission from diesel engines.  Hence, there is a dire need for a proficient depollution system that can curb the NOx particles emitted from diesel vehicles. At present, there are two depollution systems available for reducing NOx particle emissions from diesel engine vehicles: SCR system (Selective Catalytic System) and Lean NOx-Trap (LNT) system.
 
Between the two depollution systems available for diesel engine vehicles, the SCR system is expensive and complex but is also more efficient one than the LNT system as it converts nitrogen oxide into diatomic nitrogen and water vapor by injecting aqueous urea solution into the exhaust system. The SCR System has a maximum efficiency of 90-95% (NOx reduction of 90-95%), whereas the LNT system is a relatively less efficient system and offers the maximum efficiency of 70%. The SCR system is capable of handling a higher volume of exhaust fumes and can reduce NOx emissions up to 90 percent, while simultaneously reducing HC (hydrocarbon) and CO (carbon monoxide) emissions by 50-90 percent, and PM (particulate matter) emissions by 30-50 percent.
 
Despite the high cost of the SCR system, it is expeditiously gaining the market traction, driven by its higher efficiency. Another factor giving an impetus to the demand for SCR system over LNT system is that there is a problem of clogging associated with the LNT system that results into the blockage of EGR (exhaust gas recirculation) valve. Due to which, automakers cannot reduce the number of recirculation processes, which leads to an increase in temperature and rise in the rate of NOx particles exceeding the amount of NOx that the LNT system can handle.
 
The global automotive SCR system market is projected to grow at an impressive rate over the next five years to reach US$ 3.2 billion in 2023. Incessant increase in the penetration of SCR system in diesel vehicles to address the stringent regulations regarding the NOx emission reductions and fuel efficiency enhancements is the prime growth driver of the market.
 
Development of innovative SCR system is an indispensable focus area of the SCR system suppliers based on the requirements of auto OEMs. The market for SCR system is marked by major global automotive tier players including Faurecia, Plastic Omnium, and Tenneco. Also, it is expected that the excellent growth of SCR system may entice other players to enter the market to tap the growth potential.
 
The rise of Passenger car segment

The global automotive SCR system market is segmented based on the vehicle type as Passenger Car, LCV (Light Commercial Vehicle), and M&HCV (Medium- and Heavy-Duty Commercial Vehicle). Passenger car segment is expected to remain the growth engine of the market during the forecast period of 2018 to 2023. Increasing production of passenger cars coupled with increasing penetration of SCR system in diesel engine-based passenger car models is likely to elevate the demand for SCR system in the segment in the foreseeable future.
 
Based on the catalyst type, the automotive SCR system market is segmented as Copper Zeolite, Iron Zeolite, and Others (platinum, palladium, rhodium, etc.). Copper Zeolite is expected to remain the most dominant catalyst type in the global automotive SCR system market during the forecast period, owing to its better ammonia storage capabilities. Both, Iron Zeolite as well as other segments, are also likely to witness healthy growth rates over the next five years.
 
Based on the catalyst structure type, the market is segmented as honeycomb catalyst structure and others (plate and corrugated type). Honeycomb structure is expected to remain the most dominant type in the global automotive SCR System market during the forecast period, owing to its better surface coverage and regular flow.
 
Driven by demand, Europe has the hegemony over the market

Based on regions, Europe is expected to remain the largest automotive SCR system market during the forecast period. Stricter emission norms of the European Commission have led to a faster adoption of SCR System into European vehicles. Ford Focus & Fusion, BMW 5 Series & 7 Series, Renault Twingo & Talisman, Citroen C4 Picasso, and Audi Q7 are some of the key European models that are relying on SCR system to reduce the level of emissions. Asia-Pacific is likely to depict the highest growth during the forecast period with China and India being the key sources of growth.
 
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The Report Highlights:

The Research Report offers a detailed look into market, its robust growth perspective, the factors influencing the industry, the competition intensity and a peek into the future.
The following are the key features of the report:
  • Strategic segmentation
  • Market analysis: Growth drivers and constraints, Porter’s five forces
  • analysis, SWOT analysis
  • Detailed Competitive Rivalry landscaping
  • Market trend and forecast analysis
  • Future Growth Boulevards
 
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