The diesel exhaust fluid market was at USD 34,763 million in 2022, and it will power at a compound annual growth rate of 7.60% in the years to come, to reach a value of USD 62,462 million by 2030, as stated by a report by P&S Intelligence.
Heavy commercial vehicles dominated the industry, with a share, of over 50%, in 2022, and it will continue like this in the years to come. The growth is mainly because of the snowballing requirement for HCVs in developing nations globally.
This is driving the use of diesel fuel, which is a key reason for GHG emissions. Hence, governments have enforced stringent emission limits, because of which the use of DEF is increasing for controlling NOx emissions.
The pump category will grow the fastest in the years to come. The pump supply mode is inexpensive than conventional bottles and cans, but more expensive than the bulk supply mode, as a result of the advantages associated with economies of scale.
Though, customers, particularly in Europe and North America, still prefer pumps as they bid refilling convenience for fleet and further kinds of vehicle owners.
The bulk storage category will also grow considerably in the years to come, with regards to volume. The growth is mainly credited to the snowballing use of AdBlue by trucks and other heavyweight vehicles, the owners of which make use of storage tanks and drums to supply it.
Furthermore, with the increasing need for product transportation, the fleet of heavy-duty trucks will grow, which will increase the requirement for bulk storage solutions.
Browse detailed report – Diesel Exhaust Fluid Market Analysis and Demand Forecast Report
Also, with the positive prospect of the increasing trade to and from the region, the requirement for logistical vehicles in the region will endure to rise, which will drive the use of AdBlue.
It is because of the stringent emission norms by the governments, the demand for diesel exhaust fluid will be on the rise in the years to come.
This post was created with our nice and easy submission form. Create your post!