Diesel Engine Catalyst Market Overview
Diesel Oxidation Catalyst (DOC) is a component designed primarily to convert carbon monoxide (CO) and hydrocarbons into water and carbon dioxide (CO2). It helps to reduce particulate matter (PM) by breaking down toxic wastes in the exhaust stream from the engine.
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The catalyst of the diesel engine is considered a necessary part of the diesel automobile industry because it is applicable for diesel engines and suitable for all types. It is a simple, economical, and maintenance-free catalyst that helps reduce emissions from the engine.
To stop the spread of coronavirus in the countries the production of Diesel Engine catalysts has stopped. As a result of recent corporate scandals, the demand for this specialty has grown significantly. The Covid 19 diesel engine catalyst has slowed the growth of the market industry. Though, the growing population is increasing the demand for more vehicles for transportation purposes. In this way, the demand for this Diesel Engine Catalysts market is increasing a lot and is expected to increase in the coming days.
The global Diesel Engine Catalyst Market value is expected to reach USD 28.14 billion in 2021 and USD 57.72 billion by 2029, with a CAGR of 7.35% registered during the forecast period of 2022-2030.
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Diesel Engine Catalyst Market Segmentation
The Diesel Engine Catalyst Market is divided based on technology, application, and end-users. Growth among these categories will help you analyze short-term growth segments across industries and provide users with a valuable market overview and market insight. Thus, they can make strategic decisions to identify market applications.
Based on the application, the market is divided into on-road and off-road. The on-road segment is predicted to have the largest market share due to increased sales of passenger and commercial vehicles around the globe and advances in technology.
The Diesel Engine Catalyst Market is divided into OEM and aftermarket based on the propulsion type. OEM segment is projected to have the largest Diesel Engine Catalyst Market due to the focus of automotive manufacturers that reduce emissions and meet upcoming vehicle emissions around the globe.
Based on technology, the Diesel Engine Catalyst Market is further divided into Diesel Oxidation Catalysts (DOC), Diesel particulate Filters (DPF), and Selective Catalytic reduction (SCR).
Diesel Engine Catalyst Market Regional Classification
The global Diesel Engine Catalyst Market is divided into regions based on North America, Europe, Asia Pacific (APAC), and the rest of the world.
Diesel engine catalysts dominate the market due to the existence of new emission standards regulated by the Asia-Pacific (APAC) government and increased awareness of automotive catalysts within the region. The rapid growth of the automotive industry in the Asia Pacific is responsible for the growth of automotive sales and production in developing countries in the region, such as India and China.
During the forecast period, Europe and North America are expected to witness significant growth. It is due to the existence of major automotive companies and the growing transportation industry in these regions.
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Diesel Engine Catalyst Industrial News
The functionality of the Diesel Engine Catalyst Market has remained unchanged since its inception, internal combustion engine can go through several significant developments that are driven by many challenges. Though, the size of the global Diesel Engine Catalyst Market is predicted to witness tremendous growth during the forecast period.
Johnson Matthey launched the Active DPFTM Diesel Particulate Filter (DPF) system, an innovative system in 2019 for stationary diesel engines. The technology provides clean power without the need for a filter monitoring system whenever engineers and facility operators need it.
Diesel Engine Catalyst Market Key Players
• Johnson Matthey (UK)
• MagnetiMarelliS.p.A. (Italy)
• BASF SE (Germany)
• SANGO Co. Ltd (Japan)
• Umicore N.V. (Belgium)
• Perkins Engines Company Limited (UK)
• CDTi Advanced Materials Inc. (US)
• Nett Technologies Inc. (Canada)
• Eberspächer (Germany)
• Continental AG (Germany)
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