The diesel exhaust fluid global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Diesel Exhaust Fluid Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
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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Scope Of Diesel Exhaust Fluid Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Diesel Exhaust Fluid Market Overview
Market Drivers –
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.
Market Trends –
Major companies operating in the diesel exhaust fluid market are focusing on developing innovations, such as specialized additives for diesel exhaust fluid (DEF) systems. Specialized additives for diesel exhaust fluid (DEF) systems are designed to address specific challenges and enhance the performance of the SCR (Selective Catalytic Reduction) systems in diesel vehicles. For instance, in February 2024, Liqui Moly GmbH, a Germany-based company specializing in oils, lubricants, and additives, launched an additive designed explicitly for AdBlue, or Diesel Exhaust Fluid (DEF). DEF Anti Crystal Additive Concentrate, aims to protect the Selective Catalytic Reduction (SCR) system in diesel vehicles from potential damage caused by the crystallization and freezing of AdBlue solution. The additive lowers the temperature required for the Leidenfrost effect, which promotes residue-free decomposition of AdBlue solution and inhibits crystal formation. It also reduces the AdBlue solution’s freezing point, ensuring continued functionality even in sub-zero temperatures.
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
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Regional Insights –
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.
Key Companies –
Major companies operating in the diesel exhaust fluid market are <b>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</b>
Table of Contents
1. Executive Summary
2. Diesel Exhaust Fluid Market Report Structure
3. Diesel Exhaust Fluid Market Trends And Strategies
4. Diesel Exhaust Fluid Market – Macro Economic Scenario
5. Diesel Exhaust Fluid Market Size And Growth
…..
27. Diesel Exhaust Fluid Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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