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The global diesel engine catalyst market is set to reach US$ 58.4 BN by 2032, at a 7.9% CAGR between years 2023-2032. The convergence of factors that aid the supply and demand relationship is what defines the overall performances in market dynamics in diesel engine catalyst industry. At its heart is the global dependence on diesel engines, especially in the areas such as automotive manufacture of industrial machinery and power generations.
For instance, the catalyst market has become a very essential element of these industries due to the strict emission regulations and increasing environmental awareness.
A major force propelling the diesel engine catalyst market is ever stringent emission standards implemented globally by the governments. Countries looking to prevent the air pollution and address the climate change issues demand technologies that can effectively reduce the emissions from diesel engines.
In this regard, the diesel engine catalysts are highly significant as they operate in the process of transformation from being poisonous gases to the less harmful substances through mechanisms such as oxidation and reduction. Besides, innovations in the catalyst materials and designs play a very crucial role as market dynamics. The researchers and manufacturers are tirelessly innovating on the development of catalysts that improve efficiency, durability and overall performance.
This continuous innovation not only complies with the regulatory standards but also conforms to the focus of industries seeking low-cost solutions that can reduce carbon footprint. The automotive industry is one of the key major drivers in the diesel engine catalyst market. Diesel-powered vehicles are highly preferred especially in the commercial transportation and heavyduty applications due to the growing need for effective catalyst solutions.
In the wake of consumers and businesses' increasing concern with fuel efficiency and also carbon footprint, catalyst demand increases. In addition, geopolitical factors also play a big role in the driving market dynamics as diesel engine catalyst manufacturers face changing trade policies and ongoing geopolitical tensions that affect the global assembly chain. The availability and the price of catalyst materials can be altered by many means of changes in regulations or trade contracts, thus influencing the market.
The supply side is characterized by a demand-driven market and the presence of significant players, as well as competitive relationships between them. As an established catalyst manufacturers try to keep up with the competitors and changing customer requirements, they continue investing in research and development.
Moreover, mergers and acquisitions which lead to the market consolidation as companies with more resources dominate the industry. Nevertheless, the hurdles to the market’s growth include changing prices of raw materials and also expensive advanced catalyst technology.
Diesel Engine Catalyst Market Highlights:
Diesel Engine Catalyst Market Overview
The Diesel Engine Catalyst Market is projected to grow from 29.14 USD Bn in 2021 to 58.4 USD bn by 2032, exhibiting a compound annual growth rate (CAGR) 7.9% during the forecast period (2023 - 2032). Diesel oxidation catalyst (DOC) is a component that is basically designed to convert carbon monoxide (CO) and hydrocarbons into water and carbon dioxide (CO2). It breaks down toxic waste in the exhaust stream from the engine and helps in the reduction of particulate matter (PM).
The global diesel engine catalyst market size is predicted to witness magnificent growth during the forecast period. Diesel engine catalyst is assembled accurately for diesel engines and the equipment to alleviate emissions. It is cost-effective, simple, maintenance-free, applicable to diesel engines, and suitable for all types of diesel engines. The transport industry has taken initiatives and set emission reduction targets in order to control emissions. The manufacturers are investing in the growing market that meets the government standards is likely to put a positive impact on the global market.
This report contains all the information on the global diesel engine catalyst market trends, research, and market strengths. The report also contains the culmination of dynamics, segmentation, key players, regional analysis, and other important factors. And a detailed analysis of the global diesel engine catalyst market analysis and forecast to 2030 is also included in the report. Â Â
Covid 19 Analysis
The production of the diesel engine catalyst gone to a halt due to the outbreak of the global pandemic covid 19 in order to stop the spread of the coronavirus in the countries. Apart from the essential goods, demand for all other goods has also fallen down. Covid 19 has downgraded the growth of the diesel engine catalyst market industry and due to that; this industry is running at 25% of its whole capacity.
Market Dynamics
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Drivers
From the past few years, diesel segments have gained more popularity as compared to any gasoline engine due to its superior quality reliability, fuel economy, and durability. This is the major factor for the growth of the global diesel engine catalyst market. According to the reports, about 60% of all new vehicles in Europe are equipped with diesel engines.
Several factors including rising demand for Sca in diesel engines, regulation of emission control to the growing aftermarket for catalyst convertor, use of wash coat technology and innovations, and increasing recognitions about the benefits of catalyst converter by the key manufacturers are driving the growth of the market over the forecast period.
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Opportunities
The rising population in strong economic countries like India and China is increasing the demand for more vehicles for transportation purposes. The demand for diesel engines is relatively higher as compared to gasoline engines which in turn are expected to increase the demand for diesel and hence projected to create a good opportunity for the diesel engine catalyst market revenue.
North America and Europe are predicted to be the major regions for the diesel engine catalyst market because these regions are making efforts continuously to reduce air pollution and hence set high emission standards. Â
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Restraints
The dependence of performance on the basis of temperature and thermal deactivation and poisoning activities are increasing the demand for electric vehicles or battery electric vehicles and due to that the prices of diesel are fluctuating which is considered as the major restraint in the global diesel engine catalyst market growth over the forecast period.
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Challenges
Diesel engines are the technology of choice for decentral power supply and propulsion in the last century. The high density of hydrocarbon-based fuels cannot be replaced by any alternative technologies, and accordingly, the role of diesel engine applications remains intact. Furthermost, the functionality of the diesel engine catalyst remains unchanged from the time it was discovered but the internal combustion engine is likely to go through several substantial developments which are driven by many challenges.
Cumulative Growth Analysis
The focus of the major key player, Magneti Marelli S.p.A enhancing the portfolio of the product is likely to increase the global diesel engine catalyst share in the automotive segment. The company has formed a strong relationship with multinational companies in order to develop products that are easy to use, eco-friendly for the global diesel engine catalyst, and safe.
Moreover, it targets all the developing countries by the established joint ventures in order to expand its business operations. It is expected to cut the costs of the company through expanding its base in the global market, synergies, or collaborations.
Value Chain Analysis
According to the reports, the global market is segmented on the basis of technology, application, sales and channel, and regions. On the basis of technology, the global diesel engine catalyst market is segmented into diesel oxidation catalysts (DOC), diesel particulate filters (DPF), selective catalytic reduction (SCR), and others. The diesel oxidation catalyst (DOC) segment accounts for the largest diesel engine catalyst market share in the year 2018 due to the less cost of maintenance and easy installation of the diesel engine catalyst. Based on application, the global market is segmented into on-road and off-road. The on-road segment is predicted to hold maximum market share due to the rise in the sale of passenger vehicles and commercial vehicles across the globe and the developments in technology.
Based on the sales and channel, the global market is segmented as OEM and aftermarket. The OEM segment is predicted to account for the maximum diesel engine catalyst market share due to the focus of the automotive manufacturing companies in reducing the emission levels and meet the upcoming vehicle emission standards all over the world.
Segmentation Overview
The market is segmented on the basis of technology, application, sales and channel, and regions. The global diesel engine catalyst market is expected to witness decent growth during the forecast period.
By Application
Based on the application, the market is segmented into on-road and off-road
- By end-users
Based on the propulsion types, the market is segmented into OEM and aftermarket
Global Diesel Engine Catalyst Market, by Region, 2018
Source: MRFR Analysis
Regional Analysis
According to the reports, the global diesel engine catalyst market is segmented on the basis of the regions into North America, Europe, Asia Pacific (APAC), and the rest of the world. Asia Pacific region is predicted to witness significant growth in the global market due to the new emission standards issued by the respective governments. The rapid development of the automotive industry in the Asia Pacific is responsible for the rise in the automotive sale and production in developing countries such as India and china of these regions.
The continuous efforts of the governments of the Asia Pacific region to reduce the emission are expected to boost the global diesel engine catalyst market outlook during the forecast period. The factor contributing to the increase in sales of automobiles are initiatives to improve FDI, low production costs, fast infrastructure development, and growing per capita income.
Competitive landscape
The global market competitive landscape offers a detailed analysis of the competitors. These details include company financial positions, an overview of the company, market potential, revenue generated, global presence, new initiatives in the global market, production facilities and sites, investment in developments and research, product width and breadth, product capacities, application dominance, and strengths of the company and its weaknesses.
Recent Developments
In March 2019, Johnson Matthey launched an innovative, automatically regenerating Active DPF diesel particulate filter (DPF) system for stationary diesel engines.
Major 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)
Report Overview
The following report comprises of –
- Market overviewÂ
- Covid 19 Analysis
- Market Dynamic
- Drivers
- Opportunities
- RestraintsÂ
- Challenges
- Cumulative Growth Analysis
- Value Chain Analysis
- Segmentation OverviewÂ
- By ApplicationÂ
- By End-Users
- Regional Analysis
- Competitive landscape
Technology Outlook
- Diesel Oxidation Catalysts (DOC)
- Diesel Particulate Filters (DPF)
- Selective Catalytic Reduction (SCR)
- Others
Application Outlook
- On-Road
- Off-Road
Sales Channel Outlook
- OEM
- Aftermarket
Regional Outlook
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North America- The U.S.
- Canada
- Mexico
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Europe- U.K.
- Germany
- France
- Russia
- Spain
- Netherlands
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Asia Pacific- South Korea
- China
- Japan
- Australia
- Malaysia
- Indonesia
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Middle East & Africa- Saudi Arabia
- South Africa
- Central & South America
- BrazilÂ
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