Diesel Exhaust Fluid Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

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Overview and Scope
The diesel exhaust fluid market includes sales of products such as DEF dispensing equipment, storage solutions, pumping systems, and nozzles and hoses. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

Sizing and Forecast
The diesel exhaust fluid market size has grown strongly in recent years. It will grow from $33.9 billion in 2023 to $36.83 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to stringent emission regulations, adoption of selective catalytic reduction (SCR) technology, growth in commercial vehicle sales, expansion of industrial and agricultural sectors, rise in freight transportation, awareness and compliance initiatives, and infrastructure development.

The diesel exhaust fluid market size is expected to see strong growth in the next few years. It will grow to $51.5 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The growth in the forecast period can be attributed to increased production of diesel vehicles, electrification of fleet management, growth in marine and rail applications, urbanization and infrastructure projects, a rise in aftermarket sales, sustainability, and environmental goals. Major trends in the forecast period include technological advancements in def production, integration with telematics and IoT, the development of alternative emission reduction technologies, the expansion of def refilling infrastructure, the adoption of digital platforms for supply chain management, biodegradable and eco-friendly def alternatives, and enhanced def quality standards.

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Segmentation & Regional Insights
The diesel exhaust fluid market covered in this report is segmented –

1) By Component: Selective Catalytic Reduction (SCR) Catalyst, Diesel Exhaust Fluid (DEF) Tank, Diesel Exhaust Fluid (DEF) Injector, Diesel Exhaust Fluid (DEF) Supply Module, Diesel Exhaust Fluid (DEF) Sensor, Other Components
2) By Supply Mode: Cans And Bottles, Intermediate Bulk Containers (IBC), Bulk, Other Supply Modes
3) By Vehicle Type: Passenger Cars, Light Commercial Vehicles (LCVs), Heavy Commercial Vehicles (HCVs)
4) By End- Use: Original Equipment Manufacturer (OEM), Aftermarket

North America was the largest region in the diesel exhaust fluid market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the diesel exhaust fluid market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
A rise in interest in heavy-duty vehicles is expected to propel the growth of the diesel exhaust fluid market going forward. Heavy-duty vehicles refer to large and robust vehicles designed for demanding tasks such as long-distance transportation of goods, construction, and industrial applications. The increasing interest in heavy-duty vehicles is due to their versatility, reliability, and ability to efficiently transport large quantities of goods over long distances. Heavy-duty vehicle manufacturers are increasingly integrating diesel exhaust fluid (DEF) systems into their engines to comply with emissions regulations, reduce environmental impact, and enhance fuel efficiency, thereby ensuring sustainability and regulatory compliance while meeting the demands of modern transportation needs. For instance, in May 2024, according to the Board of Governors of the Federal Reserve System, a US-based government agency, total heavy truck production reached 9.71 million units in April, representing a notable increase from the 8.86 million units recorded in January. Therefore, a rise in interest in heavy-duty vehicles drives the diesel exhaust fluid market.

Key Industry Players
Major companies operating in the diesel exhaust fluid market are Sinopec Group, Shell PLC, TotalEnergies SE, Mitsui Chemicals Inc., BASF SE, Honeywell International Inc., Air Liquide S.A., Cummins Inc., Yara International ASA, Brenntag AG, CF Industries Holdings Inc., Graco Inc., Nissan Chemical Corporation, Wien Energie GmbH, Agrium Inc., McPherson Company, GreenChem Industries LLC, Sun Exchange AG, Ahuja Global Corporation, Electrify Asia Limited, Pexapark, Share And Charge GmbH, SunContract Pte. Ltd., LO3 Energy Inc, Electron Pty Ltd, FlexiDAO GmbH

The diesel exhaust fluid market report table of contents includes:

1. Executive Summary
2. Diesel Exhaust Fluid Market Characteristics
3. Diesel Exhaust Fluid Market Trends And Strategies
4. Diesel Exhaust Fluid Market – Macro Economic Scenario
5. Global Diesel Exhaust Fluid Market Size and Growth
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32. Global Diesel Exhaust Fluid Market Competitive Benchmarking
33. Global Diesel Exhaust Fluid Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Diesel Exhaust Fluid Market
35. Diesel Exhaust Fluid Market Future Outlook and Potential Analysis
36. Appendix

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