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Automotive Selective Catalytic Reduction (SCR) market will reach $ 11.60 billion by 2027; Growing need for greater vehicle fuel efficiency to revive the market: Fortune Business Insights ™ says
The main companies covered in the automotive selective catalytic reduction market are Plastic Omnium (France), Magneti Marelli SPA (Corbetta, Italy), Bosal (Lummen, Belgium), Ceram-Ibiden (Austria), Johnson Matthey (London, United Kingdom), Envirotherm GmbH (Essen, Germany), Röchling Group (Mannheim, Germany), Haldor Topsoe (Lyngby, Denmark), Faurecia (Nanterre, France), Robert Bosch GmbH (Stuttgart, Germany), BASF (Ludwigshafen, Germany), Cormetech (North Carolina, USA), Tenneco Inc. (Illinois, USA) and other operators profiled the Pune profile, November 26, 2020 (GLOBE NEWSWIRE) – Global Automotive Selective Catalytic Reduction market size is expected to reach 11.60 billion CAGR of 10.8% during the forecast period. The increase in air pollution from vehicles around the world is the main factor driving the growth of this market, says Fortune Business Insights ™ in its report, entitled “Automotive Selective Catalytic Reduction (SCR) Market Size, Share and COVID-19 impact analysis, by type vehicle (passenger car, light commercial vehicle and heavy commercial vehicle), by catalyst type (copper zeolite, iron zeolite and others (vanadium, titanium, etc.)) and regional forecast, 2020-2027 “. According to the Union of Concerned Scientists, diesel-powered heavy-duty vehicles are responsible for more than 25% of global warming emissions. Additionally, research from the University of Chicago reveals that fossil fuel-induced air pollution has reduced global life expectancy by an average of 1.8 years per person. As a result, there is growing desperation for technologies that can reduce or eliminate emissions from fossil fuel-powered vehicles. Selective catalytic reduction systems can be instrumental in this endeavor as they are an advanced active emission control technology. These systems involve the injection of a liquid reducing agent using a special catalyst into the exhaust stream of a diesel engine, facilitating nitrogen oxide (NOx) reduction reactions. The COVID-19 pandemic has brought the world economy to its knees, giving rise to rampant uncertainty, anxiety and panic in all sectors. Governments are adopting various strategies to get their countries out of this crisis, while private companies are exploring alternatives to survive these difficult times. At Fortune Business Insights ™, we strive to gain market insights to provide you with up-to-date information and help your efforts to overcome this crisis. We offer accurate market reports based on our expertise and experience in the field of market research. Request Sample PDF Brochure: https: //www.fortunebusinessinsights.com/enquiry/request-sample-pdf/automotive-selective-catalytic-reduction-scr-market-103632 List of Profiled Key Companies in Automotive Selective Catalytic Reduction (SCR ) Market report: * Plastic Omnium (France) * Magneti Marelli SPA (Corbetta, Italy) * Bosal (Lummen, Belgium) * Ceram-Ibiden (Austria) * Johnson Matthey (London, UK) * Envirotherm GmbH (Essen, Germany ) * Röchling Group (Mannheim, Germany) * Haldor Topsoe (Lyngby, Denmark) * Faurecia (Nanterre, France) * Robert Bosch GmbH (Stuttgart, Germany) * BASF (Ludwigshafen, Germany) * Cormetech (North Carolina, United States) * Tenneco Inc. (Illinois, USA) According to the report, the value of this market stood at $ 7.83 billion in 2019. Highlights of the report include: * Holistic insights into the various trends and drivers shaping the growth trajectory of the market; * In-depth analysis of the different obstacles that hinder market growth; * Careful evaluation of regional prospects and competitive market dynamics; and * Granular study of all market segments. Restrictive Factor Increased Adoption of Electric Vehicles to Limit Market Growth With concerns about rising pollution levels around the world, there is a growing consumer inclination towards electric vehicles (EVs). Recent data from the International Energy Agency (IEA) shows that global sales of electric vehicles in 2019 exceeded 2.1 million, increasing the world stock of electric vehicles to 7.2 million. Accounting for 2.6% of global car sales, the IEA predicts that electric vehicles will account for 3% of global car sales in 2020, including during the COVID-19 pandemic, with supportive policies in China and Europe that will further fuel the adoption of electric vehicles. While the electric vehicle market is booming, the growth of the automotive selective catalytic reduction market is likely to be held back by the growing demand for electric vehicles as SCR systems are designed to reduce nitrogen oxide emissions from diesel engines. As electric vehicles avoid the need for internal combustion engines, an expanding market for electric vehicles will inevitably affect the SCR market and stop its growth. Check discount: https: //www.fortunebusinessinsights.com/enquiry/check-discount/automotive-selective-catalytic-reduction-scr-market-103632 Regional Insights Asia Pacific to Have a Comanding Lead; North America will show healthy growth: The Asia-Pacific market size amounted to $ 3.00 billion in 2019, and the region is expected to maintain its prominent position in the market due to growing demand for passenger vehicles. Furthermore, rapid economic development in countries such as India, China and Vietnam is generating massive demand for advanced automotive technologies that make vehicles more fuel and energy efficient. North America is expected to strengthen its hold on the automotive selective catalytic reduction market share during the forecast period due to the growing use of light commercial vehicles in the region. In Europe, the market will mainly be driven by the increasing stringency of regulations governing vehicle emissions. A competitive landscape leading players to focus on incorporating smart technologies into SCR systems A new emerging trend in the competitive landscape of this market is the fusion of smart sensor technologies with SCR systems by key players to improve accuracy and vehicle efficiency. On the other hand, some companies in the automotive SCR market are grappling with the effects of the COVID-19 pandemic, which forces them to cut costs and delay investment plans. Industry Developments: July 2020: Robert Bosch announced the development of a new range of nitrogen oxide sensors and exhaust gas temperature sensors that will expand the company’s workshop range. New sensors provide comprehensive exhaust gas treatment from a single source and comply with current emissions standards June 2020: Johnson Matthey, the world’s largest producer of diesel engine catalysts, announced plans to cut 2,500 jobs due to the interruptions caused. to automotive suppliers from the coronavirus pandemic. By cutting down about 17% of staff, Johnson aims to save about $ 101 million annually. Browse detailed summary of research report with summary: https: //www.fortunebusinessinsights.com/automotive-selective-catalytic-reduction-scr-market-103632 Detailed table of contents: * Introduction * Research Scope * Market segmentation * Research Methodology * Definitions and Assumptions * Executive Summary * Market Dynamics * Market Drivers * Market Restrictions * Market Opportunities * Key Insights * Merger, Acquisitions & Partnerships * Distributor Analysis – For Key Players * Growth Analysis and of Penetration * Porter’s Five Forces Analysis * Pest Analysis * Vendor Landscape * Global Automotive Selective Catalytic Reduction Market Analysis, Insights & Forecasts, 2016-2027 * Key Results / Summary * Market Analysis, Insights & Forecast – By type of catalyst * Copper Zeolite * Iron Zeolite * Others (vanadium, titanium, etc.) * Merc ato Analysis, Insights and Forecasts – By Vehicle Type * Passenger Cars * Light Commercial Vehicles * Heavy Commercial Vehicles * Market Analysis, Insights and Forecasts – By Region * North America * Europe * Asia Pacific * Rest of the World TOC Continue…! Get Your Custom Research Report: https: //www.fortunebusinessinsights.com/enquiry/customization/automotive-selective-catalytic-reduction-scr-market-103632 Check out related research insights: Converter Market Size automotive catalytic, altitude and COVID -19 Impact analysis, by type of product (two-way oxidation, three-way oxidation reduction, diesel oxidation catalyst), by type of material (platinum, palladium and rhodium) and by vehicle type (passenger car, light commercial vehicle and heavy duty commercial vehicle) and regional forecast, 2020-2027 Automotive turbocharger market size, industry share and analysis, by technology type (variable geometry turbocharger, wastegate turbocharger and electric turbocharger ), by fuel type (petrol and diesel), by vehicle type (passenger car), light commercial vehicles and heavy commercial vehicles) and forecast regional, 2019-2026 Commercial vehicle market size, share and COVID-19 impact analysis, by vehicle type (Light commercial vehicle, Heavy commercial vehicle V ehicle, and Buses & Coaches), By Power Source (Petrol, Diesel, HEV / PHEV, Battery Electric Vehicle (BEV), Fuel Cell Vehicle) and Regional Forecast, 2020-2027 About Us: Fortune Business Insights ™ delivers expert business analytics and accurate data, helping organizations of all sizes make timely decisions . 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