As per a detailed analysis by Market Research Future (MRFR), the global diesel exhaust fluid market can acquire a stellar CAGR during the forecast period (2015-2023). The rising use of selective catalytic reduction technology is augmenting the market growth across the globe. Diesel exhaust fluid (DEF) is referred to as a fluid which consists of de-ionized water and high-purity urea in a 1:2 solution, which is required for the operation of selective catalytic reduction (SCR) technology. It is not a fuel additive and is non-toxic, colorless, non-flammable, and harmless to living beings. The reactant helps to reduce nitrogen oxide emissions chemically from exhaust systems.
Get Free Sample of Diesel Exhaust Fluid Market At: https://www.marketresearchfuture.com/sample_request/5034
Market Potential and Pitfalls
The diesel exhaust fluid market is experiencing a sturdy growth rate during the appraisal period due to the use of selective catalytic reduction technology, surging production of vehicles, and strict regulations from the government for the use of diesel exhaust fluid. Government has imposed strict regulations for the use of diesel exhaust fluid which has further contributed to its growth. The API Diesel Exhaust Fluid certification program is a government initiative that is exclusively set to monitor and certify the quality of the diesel exhaust fluid which is used in the diesel engine vehicles. Manufacturers who satisfy the requirements receive the license to display the mark of API Diesel Exhaust Fluid Certification. The increasing strict mandates from the government has enabled the manufacturers of the vehicles to use diesel exhaust fluid to reduce the emissions. The increase has further resulted in the growth of the market during the review period. Moreover, the increasing sales of vehicles have led to the rising utilization of DEF in the vehicles, thereby triggering its demand globally.
On the contrary, consumers are highly opting for non-fossil fuel engines like hybrid vehicles and electric cars which are estimated to reduce the demand for diesel exhaust fluid in the global market. On a brighter note, the strict nitrogen oxide emission emissions in several countries augment the demand for commercial vehicles which stimulates the growth of the market.
Global Diesel Exhaust Fluid Market: Segmental Analysis
The global diesel exhaust fluid market has been segmented on the basis of vehicle type, storage solution, and end market.
By mode of storage solution, the global diesel exhaust fluid market has been segmented into tanks, bulk storage, dispensers, portable containers, and others. Among these, the bulk storage segment acquires the maximum share. The segment is likely to garner the highest CAGR of 9.75% during the review period.
By mode of vehicle type, the global diesel exhaust fluid market has been segmented into a commercial vehicle and a passenger vehicle. As per MRFR, the commercial vehicle segment dominated the global market owing to the growth of commercial vehicle activities.
By mode of end-users, the global diesel exhaust fluid market has been segmented into original equipment manufacturer (OEM), and aftermarket. Among these, the aftermarket led the global market and held a share of 68.98% in 2016. The growth can be ascribed to the high availability and access to spare parts in shops.
Regional Insights
Geographically, the diesel exhaust fluid market has been studied under regions namely, Europe, North America, Asia-Pacific and the Rest-of-the-World (RoW).
Considering the global scenario, North America acquired the largest share in the global market. The regional market garnered 56.49% in 2016 and has witnessed the most remarkable growth in capacity of nitrogen. The rapid consumption of nitrogen has resulted in the increased demand for urea which stimulates the market growth in this region. Approximately 70% of ammonia is used in urea production in the US. Around 50% urea produced in the US is consumed as solid fertilizers. Around 25% of urea is used in the production of nitrogen-based solutions. The rising production of urea has resulted in the increased use of diesel exhaust fluid in this region.
The Asia Pacific occupies the second spot, with China being the largest consumption of diesel exhaust fluid in this region. China acquired the largest share of 62.17% in 2016, which positively impacted the market. The surging production of vehicles in developing economies like China and India are likely to stimulate the market’s growth.
Industry Updates
May 03, 2019: A leading global heavy equipment manufacturer, Komatsu America Corp. has recently introduced the new PC1250LC-11 and PC1250SP-11 Tier 4 final emissions certified hydraulic excavators. The all-new EPA Tier 4 Final-certified models are incorporated with SAA6D170E-7 engines with two Komatsu Diesel Particulate Filters and do not require Diesel Exhaust Fluid (DEF) system.
Competitive Dashboard
The prominent players operating in the global diesel exhaust fluid market comprises Nissan Chemical Industries (Japan), Cummins Filtration (U.S.), Shaw Development LLC (U.S.), Yara International (Norway), The McPherson Companies (U.S.), CF Industries Holdings (U.S.), Blue Sky Diesel Exhaust Fluid (DEF) (U.S.), BASF SE (Germany), Carson (Portland), Brenntag AG (Germany), and Mitsui Chemicals, Inc. (Japan).
Browse Full Report on Diesel Exhaust Fluid Market At: https://www.marketresearchfuture.com/reports/diesel-exhaust-fluid-market-5034
…….Continued
About Us:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR) and Market Research & Consulting Services.
Media Contact
Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar
City: Pune
State: Maharashtra
Country: India
Website: https://www.marketresearchfuture.com/reports/diesel-exhaust-fluid-market-5034