Diesel Exhaust Fluid Market, by Material Type (Copper, Low Carbon), End-Use (Residential, Commercial, Industrial), Implementation (New Construction, Retrofit) and Geography (North America, Europe, Asia-Pacific, Middle East and Africa and South America)
Diesel Exhaust Fluid Market Overview
The global diesel exhaust fluid market size is projected to reach USD 11.4 billion by 2026 at a CAGR of 10.0% from USD 7.1 billion in 2021.
Diesel engine exhaust fluid (DEF) is an anti-pollution agent that can inhibit and reduce harmful nitrogen oxide (NOx) emissions from diesel-powered internal combustion engines. The diesel exhausts fluid is standardized as an aqueous urea solution by International Organization for Standardization (ISO). This consumable fluid is used in concurrence with Selective Catalytic Reduction or SCR technology utilized in diesel run vehicles to reduce harmful pollutants emitted from the exhausts.
Increase in the average age of vehicles, the development of infrastructure, the rise in the number of vehicles on the road, the average mileage, the replacement cycle of DEF, and the increasing attention to vehicle maintenance are some of the factors that have supported long-term expansion for Diesel Exhaust Fluid Market.
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The COVID-19 pandemic and the subsequent decline in automotive production, average vehicle miles driven, and vehicle sales. Even after lockdowns are completely lifted, owing to the challenges related to the supply chain, availability of labour, and precautionary guidelines from governments, vehicle sales and production are not expected to resume completely.
Diesel Exhaust Fluid Market Regional Analysis
The growth of the aftermarket in the North America region can be attributed to the standardization of diesel exhaust fluid tanks in trucks and buses manufactured in countries such as the US after 2010. Moreover, the demand for commercial vehicles, both, LCVs and HCVs are high in the North America region.
Diesel Exhaust Fluid Market Competitive Landscape
Key Players
• CF Industries Holdings, Inc.
• Cummins Filtration
• Dyno Nobel
• KOST USA, Inc.
• STOCKMEIER Group
• Old World Industries
• LLC
• The Potash Corporation of Saskatchewan
• Yara International ASA
• Certified DEF
• Blue-Sky Diesel Exhaust Fluid.
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Diesel Exhaust Fluid Market Recent Developments
• In September 2019, The Saudi Arabian Oil Company (Saudi Aramco) and Shell Saudi Arabia (Refining) Limited (Shell) announced that Saudi Aramco acquired Shell’s 50% share of the SASREF Joint Venture in Jubail Industrial City, in the Kingdom of Saudi Arabia, for USD 631 million.
• In September 2019, Cummins Inc. introduced innovations which are expected to achieve low Nitrogen Oxide (NOx) emissions in future and enable achieving a reduction in the carbon footprint, at the IAA Commercial Vehicles Show. This innovative system enables further reduction in NOx and PM emissions, while simultaneously improving fuel efficiency.
Reasons to Acquire in the Diesel Exhaust Fluid Market
• Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
• Gain authentic and granular data access for Diesel Exhaust Fluid Market so as to understand the trends and the factors involved behind changing market situations
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns
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