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Automotive Selective Catalytic Reduction (SCR) Market Size Worth USD 19947.4 million, Globally, By 2030 At 12.5% CAGR.

The latest market report published by Credence Research, Inc. is “Global Automotive Selective Catalytic Reduction (SCR) Market: Growth, Future Prospects, and Competitive Analysis, 2018 – 2030”. The Global Automotive Selective Catalytic Reduction (SCR) Market generated revenue of around USD 8746.2 million in 2022 and is projected to grow a CAGR of over 12.5% during the forecast period from 2023 to 2030 to reach around USD 19947.4 million in 2030.

SCR is a contemporary active emissions control technology device that reduces nitrogen oxide (NOx) tailpipe emissions in newer-generation diesel-powered vehicles and equipment to near-zero levels. It converts nitrogen oxides into nitrogen, water, and residual carbon dioxide (CO2) using diesel exhaust fluid (DEF). It is extremely cost-effective and fuel-efficient, enabling manufacturers to optimize engine speed while balancing it. Vehicle production is growing, increasing global demand for automotive selective catalytic reduction (SCR). The growing use of automotive catalyst systems in automobile emission control devices is one of the major factors driving the global market. Governments in several countries are also implementing stringent restrictions on pollutant emissions from vehicles caused by the combustion of fuels like gasoline, fuel oil, diesel fuel, and biodiesel. As a result, vehicle manufacturers are implementing automotive SCR systems, propelling the market growth. Besides, the prevalence of respiratory diseases is increasing due to worldwide air pollution. This, combined with increasing awareness of the benefits of automotive SCR to reduce emissions, offers industry investors lucrative market growth possibilities. However, the high cost of automotive SCR technology and a lack of emission regulations in developing nations impede the market growth. Many automakers are searching for alternative emission control options for their vehicles. Furthermore, government incentives and subsidies to purchase electric vehicles and the rapid worldwide adoption of electric cars faces barriers to market expansion.

The global automotive selective catalytic reduction (SCR) market is bifurcated into Vehicle Type, Component, Fuel Type, and Geography. The market is categorized into passenger and commercial vehicles based on vehicle type. The global market is segmented on components into urea tanks, urea pumps, engine control units (ECU), injectors, and others. The market is divided into gasoline and diesel based on the fuel type. The market is segmented based on geography: Europe, Asia Pacific, North America, Latin America, the Middle East, and Africa.

The Automotive Selective Catalytic Reduction (SCR) Market major players analysis is a comprehensive study that sheds light on the key market players and their strategies. The report provides detailed information about the leading companies operating in this market, including their product portfolios, financials, and business models. Some of the major players analyzed in this report include Faurecia SA, Tenneco Inc., Rochling Group, Eberspaecher Group GmbH & Co. KG, Friedrich Boysen GmbH & Co. KG, Continental AG, Johnson Matthey PLC among others. These companies are constantly engaged in research and development activities to enhance their products’ performance and meet stringent environmental regulations globally while providing high-quality automotive SCR systems to meet consumer preferences.

Europe dominated the global automotive selective catalytic reduction (SCR) market in 2022 due to the growing use of light commercial vehicles for off-road activities and stringent emission regulations in this region. Europe will see significant growth, as the European Union (EU) has stringent vehicle emission standards based on EURO engine standards. This is anticipated to be the most important factor in this region’s SCR market’s growth. Moreover, recent advancements in SCR systems in this region will contribute to the market’s growth over the forecast period. For instance, Volkswagen’s most recent SCR technology decreases NOx emissions by 80%. Thus, installing SCR systems in vehicles can significantly decrease overall air pollution levels.

Some of the key dynamics shaping the automotive SCR market:

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