What Is The Definition Of The Global Diesel Exhaust Fluid Market?
Diesel exhaust fluid (DEF) refers to a solution made of urea and deionized water used in diesel engines equipped with selective catalytic reduction (SCR) technology. It is injected into the exhaust stream to reduce harmful nitrogen oxide (NOx) emissions, converting them into harmless nitrogen and water vapor, thereby helping vehicles comply with emissions regulations.
Diesel Exhaust Fluid Global Market Report 2024 provides data on the global diesel exhaust fluid market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The diesel exhaust fluid market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
What Are The Projections Exist For The Global Diesel Exhaust Fluid Market Size And Annual Growth Rates?
The diesel exhaust fluid market has experienced robust growth in recent years. It is expected to grow from $33.9 billion in 2023 to $36.83 billion in 2024, with a CAGR of 8.6%. The historical growth is attributed to stricter emission regulations, the adoption of selective catalytic reduction (SCR) technology, increased commercial vehicle sales, industrial and agricultural sector expansion, the rise in freight transportation, awareness and compliance efforts, and infrastructure development. In the forecast period, the diesel exhaust fluid market is expected to grow to $51.5 billion by 2028, at a CAGR of 8.7%. This future growth is driven by factors such as increased diesel vehicle production, fleet electrification, expanding marine and rail applications, urbanization, infrastructure projects, rising aftermarket sales, and sustainability goals. Major trends in the future include advancements in DEF production technologies, integration with telematics and IoT, the development of alternative emission reduction methods, expansion of DEF refilling infrastructure, digital platforms for supply chain management, eco-friendly DEF alternatives, and improved DEF quality standards.
Which Key Drivers Are Propelling The Diesel Exhaust Fluid Market's Growth?
The growing interest in heavy-duty vehicles is expected to stimulate the diesel exhaust fluid (DEF) market. These vehicles are large, robust machines designed for tasks like long-distance transportation, construction, and industrial use. The demand for heavy-duty vehicles is rising due to their reliability and efficiency in transporting goods. Manufacturers are increasingly incorporating DEF systems to comply with emission regulations, reduce environmental impact, and improve fuel efficiency. For instance, in May 2024, the Board of Governors of the Federal Reserve System reported that heavy truck production reached 9.71 million units, marking a significant increase from the previous year. Therefore, the rising interest in heavy-duty vehicles is propelling the DEF market.
Get Your Free Sample of the Global Diesel Exhaust Fluid Market Report
What Are The Key Segments Within The Global Diesel Exhaust Fluid Market?
The diesel exhaust fluid market covered in this report is segmented –
1) By Component: Selective Catalytic Reduction (SCR) Catalyst, Diesel Exhaust Fluid (DEF) Tank, Diesel Exhaust Fluid (DEF) Injector, Diesel Exhaust Fluid (DEF) Supply Module, Diesel Exhaust Fluid (DEF) Sensor, Other Components
2) By Supply Mode: Cans And Bottles, Intermediate Bulk Containers (IBC), Bulk, Other Supply Modes
3) By Vehicle Type: Passenger Cars, Light Commercial Vehicles (LCVs), Heavy Commercial Vehicles (HCVs)
4) By End- Use: Original Equipment Manufacturer (OEM), Aftermarket
How Are New Trends Impacting The Size Of The Diesel Exhaust Fluid Market?
In the diesel exhaust fluid market, companies are developing innovations like specialized additives for DEF systems, aimed at enhancing SCR (Selective Catalytic Reduction) system performance in diesel vehicles. For example, in February 2024, Liqui Moly GmbH, a Germany-based company, introduced an additive for AdBlue, or Diesel Exhaust Fluid (DEF). The DEF Anti Crystal Additive Concentrate prevents damage to SCR systems by reducing the freezing point of AdBlue, promoting residue-free decomposition, and stopping crystal formation even in sub-zero temperatures.
Which Region Drives The Highest Growth In The Diesel Exhaust Fluid Market?
North America was the largest region in the diesel exhaust fluid market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the diesel exhaust fluid market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
