Diesel Engine Catalyst Market is Estimated to Grow at a CAGR of 7.9% in Terms of Value During the Forecast Period

Pune, India, September 2023, MRFR Press Release/- Market Research Future has published a Cooked Research Report on the Global Diesel Engine Catalyst Market.

Overview

The Global Diesel Engine Catalyst Market is expected to gain an unprecedented value of 58.4 USD bn by 2032 with a CAGR of 7.9% during the forecast period (2023–2032).

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Diesel Engine Catalyst MarketResearch Report

The report covers segmentation and the market dynamics for a better glimpse of the market in the coming years. Diesel engine catalysts are considered under the category of catalytic convertors designed primarily for diesel engines to reduce the harmful emission of substances, such as nitrogen oxide (NOx), carbon monoxide (CO) and Hydrocarbons (HC). The diesel engine catalysts use different types of technologies including diesel oxidation catalysts (DOC), diesel particulate filters (DPF), and selective catalytic reduction (SCR).

Regional Analysis

On the basis of region, the market is segmented into North America, Europe, Asia-Pacific, and the rest of the world. Asia-Pacific is anticipated to lead the diesel engine catalyst market during the forecast period, followed by Europe. Asia-Pacific is expected to witness an excellent growth in the diesel engine catalyst market, owing to the new emission standards regulated by the government. Increased sales of automobiles in the region can be attributed to factors such as rapid infrastructure development, growing per capita income, initiatives to improve the FDI, and low production costs. The low labor cost and favorable government guidelines are the major factors that are expected to fuel the growth of the market. The constant efforts taken by the government to reduce the vehicle emission are expected to fuel the market demand for diesel engine catalysts during the forecast period.

The Global Diesel Engine Catalyst Market is expected to reach USD 10,156.8 million at a CAGR of over 7.36% by the end of the forecast period.

Segmental Analysis

The global diesel engine catalyst market is segmented based on technology, application, and sales channel.

On the basis of technology, the global diesel engine catalyst market is segmented into into diesel oxidation catalysts (DOC), diesel particulate filters (DPF), selective catalytic reduction (SCR), and others. The diesel oxidation catalysts (DOC) segment is expected to dominate the market, owing to easy to installation and low maintenance. Advanced versions of a DOC eliminate the need for mufflers and optimizes the concentrations of NO and NO2 in the exhaust stream, and when combined with SCR, it offers efficient and reduced diesel exhaust fluid (DEF) consumption requirements.

The diesel oxidation catalysts (DOC) segment accounted for the larger market share of 40.4% in 2018, with a market value of USD 2,512.8 million; it is expected to register a CAGR of 7.48% during the forecast period. The diesel particulate filters (DPF) segment was valued at USD  1,745.3 million; it is projected to register the higher CAGR of 5.63%.

On the basis of application, the global diesel engine catalyst market is segmented into on-road and off-road. In 2018, the on-road segment held the largest market share of 58.5% in 2018, with a market value of USD 3,642.4 million. This value is projected to reach USD 6,269.2 million by 2025. This segment is expected to grow with the highest CAGR of 8.17% during the forecast period.

On the basis of sales channel, the global diesel engine catalyst market is segmented into OEM and aftermarket. In 2018, the OEM segment held the larger market share of 60.7% in 2018, with a market value of USD 3,777.6 million. This value can rise to USD 5,811.8 Million by 2025. This segment is expected to grow with the highest CAGR of 6.44% during the forecast period.

Competitive Analysis

Some of the prominent players operating in the global diesel engine catalyst market report are Perkins Engines Company Limited (UK), CDTi Advanced Materials, Inc. (US), Nett Technologies Inc. (Canada), Eberspächer (Germany), and Continental AG (Germany), Johnson Matthey (UK), Magneti Marelli S.p.A. (Italy), BASF SE (Germany), SANGO Co., Ltd (Japan), and Umicore N.V. (Belgium).

Magneti Marelli S.p.A. focuses on enhancing its product portfolio to increase its share in the automotive segment. It has formed strong relationships with many large multinational companies  by delivering a value proposition aligned with their needs. The company is committed to developing products that are safe, easy to use, and eco-friendly for the global automotive industry. Additionally, it also targets developing countries by establishing domestic joint ventures to expand its business operations. Magneti Marelli CK Holdings, the combined business of Fiat Chrysler Automobiles N.V., and CK Holdings Co., Ltd, is expected to cut costs of the company through synergies or collaborations and expand its customer base in the global market.

Umicore N.V. strategizes to expand its green exhaust technology production capabilities. It focuses on mergers and acquisitions as well as collaborations with leading players in developing to enhance its product and client portfolio. Moreover, the company also focuses on increasing its investments in R&D to improve its products and production capabilities. It strategizes to invests in its production capabilities across Asia-Pacific to minimize the risk of product transportation and currency exchange.