Diesel Engine Catalyst Market Overview
The Diesel Engine Catalyst Market is expected to grow at a CAGR of 7.36% during the forecast period. The Diesel Oxidation Catalyst (DOC) is a component that converts carbon monoxide (CO) and hydrocarbons to water and carbon dioxide (CO2). It helps to reduce particulate matter (PM) by breaking down harmful waste in the engine's exhaust stream.
During the forecast period, the worldwide diesel engine catalyst market is expected to rise at a phenomenal rate.
Diesel engine catalysts are meticulously manufactured for diesel engines and equipment to reduce emissions. It is cost-effective, easy, and maintenance-free, and it applies to diesel engines of all types. To manage emissions, the transportation industry has launched efforts and set emission reduction targets. Manufacturers are anticipated to have a favorable impact on the worldwide market by investing in a growing market that fulfills government standards.
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Due to the onset of the global pandemic COVID-19, the production of diesel engine catalysts has been halted to stop the spread of the coronavirus in the countries. Apart from the necessities, demand for all other commodities has decreased. The expansion of the diesel engine catalyst market industry has been lowered by COVID-19, and as a result, this industry is only operating at 25% of its full potential.
Diesel Engine Catalyst Market Segmentation
The global diesel engine catalyst market is divided into four categories based on technology which are diesel oxidation catalysts (DOC), diesel particulate filters (DPF), selective catalytic reduction (SCR), and Others.
The global diesel engine catalyst market is divided into two categories based on an application which is On-road and Off-road.
The global diesel engine catalyst market is divided into OEM and Aftermarket segments based on the sales channels.
The global diesel engine catalyst market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World.
Diesel Engine Catalyst Market Regional Classification
North America, Europe, Asia Pacific (APAC), and the rest of the globe are the regions that make up the worldwide diesel engine catalyst market. Due to new emission rules imposed by the individual governments, the Asia Pacific region is expected to see considerable growth in the global market. The surge in automotive sales and production in developing countries such as India and China in this area is due to the rapid development of the automotive sector in the Asia Pacific.
The Asia Pacific region's governments' ongoing efforts to lower emissions are likely to increase the worldwide diesel engine catalyst market outlook throughout the forecast period. Initiatives to improve FDI, cheap production costs, rapid infrastructural development, and rising per capita income all contribute to increased automotive sales.
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Diesel Engine Catalyst Industry News
Johnson Matthey(UK), Magneti MarelliS.p.A. (Italy), BASF SE (Germany), SANGO Co., Ltd (Japan), Umicore N.V. (Belgium), Perkins Engines Company Limited (UK), CDTi Advanced Materials, Inc. (the US), Nett Technologies Inc. (Canada), Eberspächer (Germany), and Continental AG (Germany). A full examination of the competitors may be found in the worldwide market competitive landscape.
Financial positions of the company, an overview of the company, market potential, revenue generated, global presence, new initiatives in the global market, production facilities and sites, investment in development and research, product width and breadth, product capacities, application dominance, and company strengths and weaknesses are among the information provided.
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