The global diesel exhaust fluid market was valued at $12,191.5 million in 2017 and is projected to reach $20,518.0 million by 2023, witnessing a CAGR of 8.8% during the forecast period. Stringent environmental regulations, rising demand for heavy-duty vehicles, and growing focus on sustainable agricultural practices are the key factors which are expected to promote the growth of diesel exhaust fluid market during the forecast period.
Based on storage solutions, the diesel exhaust fluid market is categorized into bulk storage, dispensers, and portable containers. Globally, bulk storage held the largest share in the diesel exhaust fluid market, accounting for more than 45.0% share in terms of value in 2017. Large scale usage of bulk storage solutions for storing diesel exhaust fluid or AdBlue in heavy- and medium-duty vehicles will contribute to the growth in demand for the storage solutions.
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Market is expected to witness the fastest growth in the Asia-Pacific (APAC) region
The diesel exhaust fluid market is expected to witness the fastest growth in the APAC region, owing to the presence of fast growing economies such as China and India. The demand for transportation for facilitating the movement of goods is rising in these countries which has promoted the sales of heavy- and medium-duty vehicles. Moreover, rapid economic growth in these nations have also resulted in huge amount of vehicular pollution. Owing to the increased levels of vehicular pollution, these nations have either implemented or in the process to implement stringent emission norms.
Emerging nations to serve as lucrative market opportunity
Over the recent years, emerging nations such as China, India, and Brazil have witnessed rapid surge in the economic activities which offer significant boost to transportation and logistics industry in these countries. Moreover, due to the rising income levels, these countries have emerged as a one of the most lucrative automobile markets in the world. For instance, in 2017, around 90 million passenger cars were sold in the world, out of which more than a quarter were sold in China alone. The rising sales of automobiles is expected to boost the consumption of anti-pollutant fluids thereby encouraging the growth of diesel exhaust fluid market.
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GLOBAL DIESEL EXHAUST FLUID MARKET SEGMENTATION
By Storage Solutions
- Bulk Storage
- Bulk-shipment truckloads
- Indoor/outdoor storage tanks
- Portable Containers
- Heavy-duty vehicles
- Medium-duty vehicles
- Light-duty vehicles
- Passenger cars
- North America
- Rest of Europe
- South Korea
- Rest of APAC
- Latin America (LATAM)
- Rest of LATAM
- Middle East and Africa (MEA)
- Saudi Arabia
- South Africa
- Rest of MEA
This post was originally published on Raleigh Recorder