Diesel Exhaust Fluid Market 2019 Global Key Players, Size, Share, Industry Trends, Challenges, Opportunities, Statistics, And Regional Forecast To 2023

Diesel Exhaust Fluid Market 2019 Global Key Players, Size, Share, Industry Trends, Challenges, Opportunities, Statistics, And Regional Forecast To 2023

“Diesel Exhaust Fluid Market”
Diesel Exhaust Fluid Market Share, Size, Trends, And Business Opportunity Analysis Report 2018 include historic data, with forecast data to 2023. Diesel Exhaust Fluid Market report is helpful for future strategy development, and to know about Market Drivers, Restraints, Opportunities, And Global market size, share, Growth, Trends, key players forecast to 2023

Market Research Future (MRFR) reports that the global diesel exhaust fluid (DEF) market is projected to surge rapidly with a healthy CAGR during the forecast period (2017-2023). The drivers of diesel exhaust fluid market are use of selective catalytic reduction technology, stringent government regulations, and surging vehicles production. Diesel engines are used mainly in applications such as the commercial vehicles segment. This vital factor and increasing commercial and goods transportation activities have augmented the sales of commercial vehicles, further fuelling the growth of the diesel exhaust fluid market in the forecast period. Diesel exhaust fluid, when used in conjunction with Selective catalytic reduction (SCR) technology marginally, improves the fuel efficiency of diesel-run vehicles which can further aid in the growth of the market worldwide. Furthermore, number of governments across the world are increasingly focusing on DEF to cut down nitrogen oxide emissions.

Key Players

Some of the key players competing in the diesel exhaust fluid market are Blue Sky Diesel Exhaust Fluid (DEF) (U.S.), Brenntag AG (Germany) and Shaw Development LLC (U.S.) and others.

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Market Segmentation

The diesel exhaust fluid market has been segmented on the basis of storage solution, vehicle type, and end market.

Based on storage solution, the market is segmented by bulk storage, tanks, portable containers, dispensers, and others. Among all storage solutions, bulk storage held the maximum market share of 39.74% in 2016, with a market value of USD 4,686.1 MN. It is projected to surge at the highest CAGR of 9.75% during the forecast period. On the other hand, following bulk storage market, tanks is the largest market owing to the compact size making them accessible in the limited space.

Based on vehicle type, the market is segmented by passenger vehicle and commercial vehicle. MRFR reports that commercial vehicle dominated the global diesel exhaust fluid market with a share of 76.16% in 2016, in terms of value. This can be attributed to the rise of commercial vehicle activities.

Based on end market, the market is segmented by original equipment manufacturer (OEM), and Aftermarket. Among both segments, aftermarket led the global diesel exhaust fluid market with a share of 68.98% in 2016, in terms of value. Factors driving the aftermarket segment are high availability and access to spare parts in shops, consumers having more options to choose from and lower price of spare parts.

Regional Analysis

The market for diesel exhaust fluid is geographically segmented on the basis of North-America, Europe, Asia-Pacific and the Rest of the World (RoW).

Among all, North America held the largest market share of 56.49% in the global diesel exhaust fluid industry market in 2016. This region has observed the most outstanding growth in capacity of nitrogen during the forecast period. North America follows India and China in terms of nitrogen consumption. The steady consumption of nitrogen has led to urea demand, which in turn drives the diesel exhaust fluid market. In the United States (U.S), roughly 70% of the ammonia is used for the production of urea. About 50% of urea produced in the U.S. is consumed as solid fertilizers, and more than 25% of urea is used to produce nitrogen-based solutions. The growth in production of urea has increased the use of diesel exhaust fluid in U.S.

Asia Pacific (APAC) is second largest market with China being the largest consumer of DEF in APAC. China held the largest market share of 62.17% in 2016, thus positively impacting the market in this region. Increasing production of vehicles in developing countries such as India and China also attributes to this growth.

In Europe, the increase in use of selective catalytic reduction technology is estimated to drive the market for diesel exhaust fluid. Moreover, stringent government regulations and increase in production of vehicles propel the market growth in this region. Increasing demand for diesel exhaust fluid provides the exhaust fluid storage service providers with a massive opportunity to invest in the market in this region.

Browse Full Report on Diesel Exhaust Fluid Market 2019 At: https://www.marketresearchfuture.com/reports/diesel-exhaust-fluid-market-5034    

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