Diesel Oxidation Catalysts Consumption Value Is Expected To Increase At A CAGR Of 2.9% By 2032
Over the previous five years, the consumption of diesel oxidation catalysts increased globally at a CAGR of about 3.1%. The market for heavy-duty diesel catalysts was estimated to be worth around US$ 1.1 billion in 2017, and from 2022 to 2032, it is anticipated to increase at a rate of about 2.8%.
Diesel engines are more cost-effective to operate since they obtain more miles per gallon than gasoline or petroleum-powered engines. As a result, diesel-powered engines are employed to move bigger loads of cargo or passengers. The catalyst is anticipated to meet set pollutant emission criteria when used in tandem with the engine.
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What is driving the Global Market for Heavy-Duty Diesel Catalysts?
The global market for heavy–duty diesel catalysts is driven by the increasing demand for vehicles with improved fuel efficiency and reduced emissions. Governments across the globe are introducing stringent emission standards for diesel engines, which is forcing manufacturers to adopt advanced technologies, such as catalysts, to meet the set standards. The rising demand for heavy–duty vehicles in the commercial and industrial sectors is also driving the demand for diesel catalysts. Moreover, the rising concerns about air pollution and the increasing awareness about the environmental benefits of using diesel catalysts are also contributing to the growth of the market.
Key Companies Profiled
- BASF SE
- Umicore S.A
- Corning Incorporated
- Bosal International N.V. Johnson Matthey PLC
- Cataler Corp
- DLC International
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Due to the growing number of vehicles in Asia, particularly in countries like China, India, and Thailand, environmental catalyst companies are beginning to turn their attention away from North America and Europe and into the lucrative Asian markets. The market for heavy-duty Diesel Catalysts is expected to increase significantly as long as auto sales keep growing steadily.
Key Segments Covered in Diesel Oxidation Catalysts Industry Survey
- by Type :
- Hydrocarbons (HC)
- Carbon Monoxide (CO)
- Oxides of Nitrogen (NOx)
- Particulate Matter (PM)
- by Application :
- OEMs
- Aftermarket
- Others
- by Region :
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Key Questions Covered in the Diesel Oxidation Catalysts Market Report
- How key market players in the Diesel Oxidation Catalysts market are maintaining their competitive advantage in the wake of globalization?
- What changing market dynamics in the Diesel Oxidation Catalysts market specify about the future opportunities for manufacturers?
- How Covid-19 pandemic affected sales in the Diesel Oxidation Catalysts market and what strategies are expected to recover from its impact?
- What business tactics are gaining attention and influencing Diesel Oxidation Catalysts market rivalry?
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Diesel Oxidation Catalysts Industry analysis focuses on the key players, various market segments, and distribution channels. For a more thorough examination, the world powers China, Russia, Germany, the U.S., the U.K., and others are picked. The research goes into additional depth about the global Diesel Oxidation Catalysts market nations that are dealing with a significant decline in demand and slow growth.
The paper details the market’s unprecedently rapid expansion, which is being fueled by socioeconomic reasons, increased consumer spending power, and technological innovation. The research goes into great information about the present business climate of the Diesel Oxidation Catalysts demand in the top countries.
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