LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global selective catalytic reduction (SCR) market for diesel commercial vehicles report. To calculate the market size, the report considers the global sales volume of commercial vehicles equipped with SCR at present and future.
Diesel engines can produce higher torque and are 15%-20% more fuel-efficient than gasoline engines. Hence, governments all over the world have been implementing various regulations to check the amount of emissions. SCR is used for controlling the emission levels of Nitrogen oxide from diesel engines. These are fitted in the exhaust system of the vehicles. SCR is a system that converts nitrogen oxides into nitrogen, carbon dioxide, and water. The system uses diesel exhaust fluid (DEF), which is essentially a liquid reductant agent that is injected into the exhaust stream of a diesel engine.
The global SCR market for diesel commercial vehicles has a close co-relation with the market volume of diesel vehicles. SCR is a derived market because its growth or decline depends on the number of diesel engines sold. For the global SCR market for diesel commercial vehicles, the OEM segment contributes to the overall market because SCR mostly comes as OEM fitments. The SCR market for diesel commercial vehicles is dependent on the penetration of diesel engines as it can be installed only in diesel engines. Due to the increase in government regulations regarding vehicular emission levels of diesel engine vehicles, OEMs have currently begun to implement SCR in their automotive fleet.
Competitive vendor landscape
The global SCR market for diesel commercial vehicles is highly competitive. The market has a limited number of well-established vendors. The key vendors in the market are currently growing their customer base and are increasing their investments in R&D. The competitive environment in the market should intensify with advancements in technology and government regulations.
“The number of vendors operating in the market is low. Hence intense competition can be expected. OEMs will get into long-term collaborations with SCR vendors as the quality of materials used and the design, which are crucial factors in decreasing exhaust back pressure and cost, are unique to each vendor,” says Praveen Kumar, a lead powertrain analyst from Technavio.
Most of the advancements in the market is due to the implementation of Euro 6 standards. In 2014, Volkswagen's so-called defeat device installed in their vehicles to manipulate emission levels brought out a serious flaw in the emission testing system. The test method proved to be outdated, and it called for new emission tests to be introduced, which are more representative of on-road conditions. This has resulted in a change in the testing system with stricter implementation.
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Top five SCR market vendors for diesel commercial vehicles
Tenneco
Tenneco, an American Fortune 500 company, with an annual revenue of USD 8.2 billion is a manufacturer and supplier of automotive parts. The company specializes in manufacturing, designing, and distributing ride performance and clean air products for commercial trucks, off-highway vehicles markets, aftermarkets, and automotive markets. They employ about 29,000 employees worldwide, have about 90 manufacturing facilities in 6 continents, and 15 engineering centers.
Faurecia
Faurecia is an automotive parts manufacturing company with annual revenue of USD 19.3 billion. The company manufactures and designs exhaust systems, seats, exterior modules, interior systems, and vehicle decoration products. Faurecia’s key customers include PSA Citroen, Volkswagen Group, Ford, Renault-Nissan, BMW, General Motors, Toyota, Fiat Chrysler, and Hyundai-Kia.
Bekaert
Bekaert deals with the manufacture and transformation of steel wire and its coatings. It is one of the established players in automotive exhaust component system. It develops steel wire based products for the automotive, construction, energy and utilities, equipment, consumer goods, agriculture and basic materials industry. In automotive, Bekaert produces steering systems, exhaust systems, interior systems, exterior systems, and drivetrain. In 2015, the automotive segment accounted for USD 1.8 billion in revenue.
Corning
Corning is a manufacturer of ceramics, glass, and related materials primarily used in scientific and industry applications. Corning has five business sectors: environmental technologies, display technologies, life sciences, specialty materials, and optical communications.
Katcon
Katcon is a manufacturer of diesel aftertreatment devices, catalytic converters, and exhaust modules. They had started their business operations in 1993 being an automotive supplier to OEMs. Katcon currently has R&D in various disciplines like weight reduction, thermal management, durability, noise attenuation, durability, and diesel aftertreatment.
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