Research Nester has released a report titled “Diesel Exhaust Fluid (DEF) Market – Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the global diesel exhaust fluid (DEF) market in terms of market segmentation by component type, by vehicle type, by market type and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global diesel exhaust fluid (DEF) market is segmented by vehicle type into commercial and passenger vehicle. The light commercial vehicle segment, which is a sub-segment of commercial segment is anticipated to hold the largest market share owing to the rising demand for light commercial vehicles around the world amongst business owners for increasing their process efficiency and service quality. In the statistics by the International Organization of Motor Vehicle Manufacturers (OICA), for the years 2017 and 2018, light commercial vehicle segment dominated the largest share of production with 82.19% and 82.39% respectively amongst all other type of commercial vehicles produced.
The global diesel exhaust fluid (DEF) market is anticipated to reach a CAGR of around 10% during the forecast period, i.e. 2020-2028. Rising sales of passenger and commercial vehicles around the globe, along with advancement in technologies in engine exhaust systems are some of the factors anticipated to promote towards the growth of the global diesel exhaust fluid (DEF) market. In the statistics by the International Organization of Motor Vehicle Manufacturers (OICA), sales of vehicles around the globe peaked to 95.1 million in the year 2018 from 65.9 million in the year 2005.
Regionally, the global diesel exhaust fluid (DEF) market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, Europe is anticipated to hold the largest market share owing to the rising demand for SCR amongst vehicle manufacturers in the region to meet the requirements of stringent vehicle norms, coupled with increasing awareness for DEF amongst individuals.
Growing Concern For Vehicular Emissions Amongst Various Nations
In the statistics by the World Health Organization (WHO), amongst all the other contributors towards particulate air pollution, road transport, mostly from diesel traffic, is considered to be the major contributor. Apparently, in the European cities, road transport contributed to around 30% of particulate emissions, followed by 50% in OECD countries.
Governments across nations are increasingly concerned with the growing vehicular emission. Rising vehicle fleet available on roads is considered to be one of the major contributors towards vehicular emission. To mitigate the issue, stringent regulations have been introduced by the government for vehicle manufacturers, one of which includes the selective catalytic reduction (SCR) technology, which injects diesel exhaust fluid (DEF) into the exhaust, followed by a catalytic reaction which reduces the NOx emissions of the vehicle. Increasing deployment of SCR technology in vehicles by vehicle manufacturers is thereby anticipated to drive the growth of the global diesel exhaust fluid (DEF) market.
However, concerns regarding the rising adoption of electric vehicles, which might impact the sales of conventional fuel vehicles, and in turn the sales of DEF, coupled with the difficulties in processing urea owing to environmental concern are some of the factors anticipated to limit the growth of the global diesel exhaust fluid (DEF) market.
This report also provides the existing competitive scenario of some of the key players of the global diesel exhaust fluid (DEF) market, which includes company profiling of Yara (OTCMKTS: YARIY), RelaDyne LLC, CF Industries Holdings, Inc. (NYSE: CF), PEAK, Airgas, Inc., Shaw Development LLC, Nissan Chemical Corporation (TYO: 4021), Cummins Filtration (NYSE: CMI), The McPherson Companies and BASF SE (OTCMKTS: BASFY). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global diesel exhaust fluid (DEF) market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.