The global commercial vehicle urea tank market is expected to grow at a CAGR of more than 2% during the period 2017-2021, according to a new market research study by Technavio.
This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171123005032/en/
Technavio has published a new report on the global commercial vehicle urea tank market from 2017-2021. (Graphic: Business Wire)
The report presents a comprehensive outlook of the global commercial vehicle urea tank market by application (light commercial vehicles and heavy commercial vehicles). The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free
Market driver: increased penetration of SCR in commercial vehicles
The rising penetration of selective catalytic reduction (SCR) systems in commercial vehicles is expected to drive the commercial vehicle urea tank market during the forecast period. Increasing air pollution is causing governing bodies to upgrade emission norms at intervals less than a year. This has induced commercial vehicle manufacturers to equip their vehicles with the latest and most advanced emission control systems like SCR with urea tanks for ensuring continuity of business even after the upgraded emission norms are implemented.
According to Keerthi Balu, a lead analyst at Technavio for automotive componentsresearch, "Diesel engines are known to produce a large amount of harmful gases upon combustion due to their dense nature. NOx is formed when oxygen and nitrogen are combined under high temperature during combustion. The use of SCR system ensures the removal of NOx to about 90%. Apart from being compliant with emission norms, the SCR system also increases the fuel efficiency of the vehicles up to 5%."
Looking for more information on this market? Request a free sample report
Technavio's sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Market trend: alternate techniques used for treating vehicular emissions
Declining quality of air in global urban regions and the rising number of vehicles being introduced onto the roads are significantly contributing to the increase in air pollution. About 30 countries in the world have adopted Euro4 emission standards in 2016. Hence, the governing bodies of various regions are increasingly depending on upgrading their vehicle emission norms to restrict vehicular pollution since 2010.
Vehicle manufacturers are carrying out R&D activities to come up with methods of reducing or even eliminating the levels of harmful gases like hydrocarbons and NOx after combustion from their vehicles. Techniques such as EGR and SCR for treating and minimizing NOx and hydrocarbon formations in the exhaust and particulate filters for minimizing the outflow of particulate matter through the exhaust have been extensively used by vehicle manufacturers for meeting emission standards.
Market challenge: reduced availability of low-sulfur fuel in emerging countries
Commercial vehicle urea tanks are a part of the SCR system used in commercial vehicles for limiting the formation of NOx. SCR systems are used in commercial vehicles to maintain compliance with emission norms pertaining to limit NOx levels. However, SCR systems can only be effective in limiting the emission of NOx if the vehicle uses low-sulfur fuels. Hence, the low availability of low-sulfur fuels poses a significant challenge to the commercial vehicle urea tank market.
Is your business on track for a successful future? Learn how Technavio can help
Technavio helps businesses anticipate changes in their marketplace, make proactive adjustments, and develop effective strategies to optimize their market positions.
Key vendors in the market
- Cummins
- Elkhart Plastics
- Salzburger Aluminium
The global commercial vehicle urea tank market is highly competitive as it has the presence of a limited number of well-established vendors. Key vendors in the market like Cummins are currently increasing their investments in R&D and increasing their customer base. The competitive environment in the market should intensify with advances in government regulations and urea tank production technology.
Get a sample copy of the global commercial vehicle urea tank market free of cost
Access Technavio's continuously growing automotive components research library and find expert analysis on hundreds of markets.
About Technavio
Technaviois a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at media@technavio.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171123005032/en/
Contacts:
Technavio Research
Jesse Maida
Media Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com