What Is The Overview Of The Global Diesel Engine Catalyst Market?
A diesel engine catalyst (DEC) is a catalytic converter designed specifically for diesel engines to reduce emissions of carbon monoxide, hydrocarbons, and the organic fraction of diesel particulate matter. DECs efficiently convert these harmful gases and particulates into less-toxic carbon dioxide and water through catalytic oxidation reactions. DECs are a mature, widely used commercial technology for diesel engine emission control and are often used in combination with other aftertreatment devices such as diesel particulate filters and selective catalytic reduction systems.
Diesel Engine Catalyst Global Market Report 2024 provides data on the global diesel engine catalyst market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The diesel engine catalyst market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
What Are The Estimated Market Size And Expected Annual Growth Rates For Global Diesel Engine Catalyst ?
The diesel engine catalyst market has grown significantly, reaching $32.88 billion in 2024 from $30.47 billion in 2023, with a CAGR of 7.9%. This growth has been fueled by urbanization, industrial expansion, automotive growth, global trade, and environmentally friendly vehicles. By 2028, the market is expected to reach $44.86 billion, with a CAGR of 8.1%, driven by stricter emissions regulations, increased awareness of air pollution, R&D investments, demand for commercial vehicles, and renewable diesel fuels. Trends include improvements in catalyst technologies, after-treatment systems, and fuel efficiency standards.
What Are The Leading Drivers Of Growth In The Diesel Engine Catalyst Market?
The growth of the commercial vehicle sector is expected to boost the diesel engine catalyst market. Commercial vehicles, which transport goods or passengers, are experiencing growth due to expanding economies, increased freight transportation demand, and the need for more fuel-efficient vehicles. Diesel engine catalysts are essential for reducing pollutants in commercial vehicles, ensuring compliance with environmental regulations, and improving fuel efficiency. For example, the European Automobile Manufacturers Association reported that new EU commercial van sales rose by 12.6% in the first quarter of 2024, and commercial bus sales increased by 23.3%. This growth in commercial vehicle sales is expected to drive the diesel engine catalyst market.
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How Are The Segments Defined Within The Global Diesel Engine Catalyst Market?
The diesel engine catalyst market covered in this report is segmented –
1) By Component Type: Honeycomb Catalyst, Pellet Catalyst, Monolith Catalyst
2) By Technology: Diesel Oxidation Catalysts (DOC), Diesel Particulate Filter (DPF), Selective Catalytic Reduction (SCR), Other Technologies
3) By Material Type: Platinum, Palladium, Rhodium
4) By Vehicle Type: Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles
5) By Application: On-Road, Off-Road
How Are New Trends Expected To Influence The Growth Of The Diesel Engine Catalyst Market?
In the diesel engine catalyst market, companies are creating advanced solutions like NOx adsorbers to meet environmental standards. NOx adsorbers, or lean NOx traps (LNTs), are emission control devices that significantly reduce nitrogen oxide emissions from internal combustion engines. In June 2024, Veneporte, S.A., a Portuguese auto parts manufacturer, unveiled new lean NOx trap products designed to lower harmful diesel engine emissions. This launch underscores Veneporte's commitment to sustainability and providing cutting-edge emission control technologies for cleaner vehicles.
Which Region Drives The Highest Growth In The Diesel Engine Catalyst Market?
Asia-Pacific was the largest region in the diesel engine catalyst market in 2023. The regions covered in the diesel engine catalyst market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
