The selective catalytic reduction is an emission controlling device, incorporated in the exhaust of a vehicle in order to reduce emission of nitrogen oxides. SCR utilized a reducing agent urea to break down the harmful nitrogen oxides. SCR is widely used in heavy duty vehicles and diesel powered vehicles in order to reduce emissions.
Increasingly stringent norms enacted by governments, in order to address health hazards, are driving the SCR market. The SCR is the only emission controlling device which does not use precious metals. SCR being cost-effective yet efficient, is anticipated to witness high demand. Adoption of Euro 6 and U.S. 2010 in Europe and North America, respectively, is a major factor driving the SCR market. China, India, Mexico, and Brazil have planned to adopt Euro 6 equivalent norms in the near future. This, in turn, is anticipated to boost the SCR demand. Rise in vehicle production in developing countries is a major factor driving the SCR market. Improved infrastructure and logistics have fueled the demand for commercial vehicles, which in turn is driving the SCR market. SCR is a highly effective way to mitigate emissions. Usage of vanadium and zeolite in SCR instead of platinum group metals has led to a significant reduction in cost.
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The global SCR market can be segmented based on component, vehicle, sales channel, and region. Based on component, the SCR market can be classified into urea tank, urea pump, electronic control unit, and injectors. The adoption of SCR necessitates the usage of urea storage and dosing system and hence, urea tank, urea pump, and injectors segments are anticipated to expand at a high growth rate during the forecast period.
In terms of vehicle type, the global SCR market can be categorized into passenger vehicle, light commercial vehicle, and heavy commercial vehicle. High demand for light commercial vehicles is due to the expansion of SME businesses, which in turn is estimated to boost the SCR market.
Based on region, the SCR market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe witnessed significant penetration of SCR. High usage of diesel across commercial and passenger vehicles has led to the considerable demand for SCR in the region. Increasing demand for commercial vehicles in Asia Pacific is also expected to boost the SCR market in the region.
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