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Diesel Engine Catalyst Global market Report 2024 – Market Size, Trends, And Forecast 2024-2033
Diesel Engine Catalyst Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033
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LONDON, GREATER LONDON, UNITED KINGDOM, September 5, 2024 /EINPresswire / -- The diesel engine catalyst market has experienced robust growth in recent years, expanding from $30.47 billion in 2023 to $32.88 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to rapid urbanization, industrial growth, expansion of the automotive industry, growth in global trade and transportation, and increasing consumer preference for environmentally friendly vehicles.
What Is The Estimated Market Size Of The Global Diesel Engine Catalyst Market And Its Annual Growth Rate?
The diesel engine catalyst market is projected to continue its strong growth, reaching $44.86 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to stricter emissions regulations worldwide, rising Awareness of air pollution, significant investments in research and development, high demand for commercial vehicles, and the growing use of renewable diesel fuels.
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Growth Driver Of The Diesel Engine Catalyst Market
The growth in the commercial vehicle segment is expected to propel the growth of the diesel engine catalyst market going forward. A commercial vehicle is any motor vehicle used for transporting goods or paying passengers and is typically classified based on its gross vehicle weight rating (GVWR) or passenger capacity. The commercial vehicle segment is expected to see growth due to the expanding economy, increased demand for freight transportation driven by e-commerce and infrastructure development, and the need to replace older trucks with more technologically advanced and fuel-efficient models. Diesel engine catalysts in commercial vehicles reduce emissions of pollutants such as NOx, CO, and particulate matter, ensuring compliance with stringent environmental regulations while improving fuel efficiency.
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Which Market Players Are Driving The Diesel Engine Catalyst Market Growth?
Key players in the diesel engine catalyst market include BASF SE, Continental AG, Cummins Inc., Faurecia SE, Johnson Matthey plc, Kubota Corporation, Tenneco Inc., Eberspacher Climate Control System.
What Are The Emerging Trends Shaping The Diesel Engine Catalyst Market Size?
Major companies operating in the diesel engine catalyst market are focusing on developing advanced products, such as NOx adsorbers, to better serve customers. NOx adsorbers, also known as NOx traps or lean NOx traps (LNTs), are emission control devices used in internal combustion engines to reduce nitrogen oxide (NOx) emissions.
How Is The Global Diesel Engine Catalyst Market Segmented?
1) By Component Type: Honeycomb Catalyst, Pellet Catalyst, Monolith Catalyst
2) By Technology: Diesel Oxidation Catalysts (DOC), Diesel Particulate Filter (DPF), Selective Catalytic Reduction (SCR), Other Technologies
3) By Material Type: Platinum, Palladium, Rhodium
4) By Vehicle Type: Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles
5) By Application: On-Road, Off-Road
Geographical Insights: Asia-Pacific Leading The Diesel Engine Catalyst Market
Asia-Pacific was the largest region in the diesel engine catalyst market in 2023. The regions covered in the diesel engine catalyst market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Diesel Engine Catalyst Market Definition
A diesel engine catalyst (DEC) is a catalytic converter designed specifically for diesel engines to reduce emissions of carbon monoxide, hydrocarbons, and the organic fraction of diesel particulate matter. DECs efficiently convert these harmful gases and particulates into less-toxic carbon dioxide and water through catalytic oxidation reactions. DECs are a mature, widely used commercial technology for diesel engine emission control and are often used in combination with other aftertreatment devices such as diesel particulate filters and selective catalytic reduction systems.
Diesel Engine Catalyst Global Market Report 2024 from TBRC covers the following information:
.Market size data for the forecast period: Historical and Future
.Macroeconomic factors affecting the market in the short and long run
.Analysis of the macro and micro economic factors that have affected the market in the past five years
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global diesel engine catalyst market report covering trends, opportunities, strategies, and more
The Diesel Engine Catalyst Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on diesel engine catalyst market size, diesel engine catalyst market drivers and trends, diesel engine catalyst market major players, diesel engine catalyst competitors' revenues, diesel engine catalyst market positioning, and diesel engine catalyst market growth across geographies. The diesel engine catalyst market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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