(MENAFN- America News Hour) Selective Catalytic Reduction Catalyst (SCR Catalyst) is used in a technology, available to reduce diesel engine emissions which results in cost effective and fuel-efficient usage. SCR catalysts are being used since decades for reduction of stationary source emission. Generally, the catalysts are used to facilitate the chemical reactions and enhance the efficiency of the system for commercial applications. Additionally, one of the application of SCR Catalysts worldwide is in the marine vessels including tugboat, ferries and cargo vessels with both economic as well as environmental benefits. Due to SCR technology inhabited in the diesel engines, a rise in diesel passenger vehicles have been observed. For Instance; As per data by Society of Indian Automobile Manufacturers (SIAM) in 2019, 4% rise in the export of passenger vehicles have been observed in India with Hyundai Motors leading the segment. Selective catalyst reduction is also used in gas turbine and due to rising automobile sector they form an important component of energy consumption. Rise in the necessity to reduce nitrogen compounds emission has created tremendous opportunities for growth of Global Selective Catalyst Reduction Catalyst Market. Growing use in industrial boilers, utility boilers and some other types has enhanced the need to use nitrogen oxide reduction technologies as it causes severe respiratory infections, damage to human respiratory tract and increase the possibility to be affected by chronic lung disease. Along with this rise in waste management along with increased investment of fuel efficient innovations support the market growth.
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For Instance; As per data from World Bank, by 2050, 19% rise in the waste generation of high-income countries has been observed compared to approximately 40% rise in low and middle income countries which will create opportunities for the growth of Global Waste Management Market. Further, chemical research to innovate better efficient technologies in commercial applications as well as experiments create new opportunities in the market growth. However, shift towards usage of the electric vehicles along with the high cost assigned for SCR systems are the restraining factors which impede the growth of the market over the forecast period of 2020-2027.
The regional analysis of global Selective Catalytic Reduction Catalyst (SCR Catalyst) market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is the leading/significant region across the world due to increase in government initiatives to enhance the transport amenities and infrastructural developments. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rise of investments in automobile sector and stringent government regulations for lowering the fuel emissions rate in vehicles would create lucrative growth prospects for the Selective Catalytic Reduction Catalyst (SCR Catalyst) market across Asia-Pacific region.
Major market player included in this report are:
Envirotherm GmbH (Germany)
BASF SE (Germany)
Cormetech, Inc. (Germany)
IBIDEN Ceram GmbH (Austria)
Johnson Matthey (UK)
Haldor Topsøe (Denmark)
Hitachi Zosen Corporation (Japan)
Seshin Electronics Co., Ltd (South Korea)
Tianhe Baoding Environmental Engineering Co., Ltd. (China)
Zhejiang Hailiang Co., Ltd. (China)
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Selective Catalytic Reduction Catalyst (SCR Catalyst) Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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