Diesel Exhaust Fluid Market Will Reach USD 62,462 Million by 2030
According to a statement by P&S Intelligence, the diesel exhaust fluid market was USD 34,763 million in 2022, and it will reach USD 62,462 million, advancing at a rate of 7.60%, by 2030.
The main factor boosting the growth of the industry is the strict laws for pollution, which are resulting in the increasing penetration of selective catalytic reduction in diesel automobiles. Diesel exhaust fluid works as an anti-pollution chemical, decreasing the emissions of hazardous nitrogen oxide from internal combustion engines.
In 2022, the heavy commercial vehicles category accounted for the largest AdBlue industry share, of over 50%, and it is expected to maintain its position over this decade. The growth is mainly due to the growing demand for heavy commercial vehicles in developing nations all over the world.
The pump category will advance at the highest diesel exhaust fluid market growth rate throughout this decade. The pump supply mode is more economical than traditional bottles and cans, but costlier than the bulk supply mode, because of the benefits related to the economies of scale.
In terms of volume, the bulk storage category will grow significantly in the coming years. This is mainly credited to the growing consumption of AdBlue by trucks and various heavy-duty vehicles, the owners of which adopted storage drums and tanks to supply it.
Additionally, because of the increasing necessity for the transportation of products, the heavy-duty truck fleet will advance, which will drive the bulk storage solutions demand.
In 2022, North America accounted for the largest industry share, at 44%, and it will remain the largest during this decade.
Moreover, the North American nations, which are among the most developed across the globe, are now engaging in environmental protection and sustainable development. The enormous industrial bases and the necessity to enable the transportation of manufactured products to the marketplace have boosted the medium-and heavy-duty vehicles demand in the regions.
Furthermore, the emission rules in Canada are one of the strictest across the globe. Therefore, the necessity for controlling vehicular pollution, mainly from heavy-duty automobiles, has driven the consumption of diesel exhaust fluid in the region.
In the past few years, India, Russia, China, and Brazil have observed a hasty surge in economic activities, which has provided a substantial boost to their logistics and transportation industry.
Furthermore, because of the increasing income levels, these nations have emerged as lucrative automobile industries. In addition, these nations are implementing strict emission rules, which will boost the consumption of diesel exhaust fluid.
It is because of the strict emission rule by the government the diesel exhaust fluid industry will continue to grow in the coming years.
