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Global Heavy Duty Diesel (HDD) Catalysts Industry

Global Heavy Duty Diesel (HDD) Catalysts Industry

  • April 2021
  • 292 pages
  • ID: 5361281
  • Format: PDF
  • Global Industry Analysts

Summary

Table of Contents

MARKET IMPACT SURVEY - COVID-19 & LOOMING RECESSION

Timely market intelligence is paramount in these uncertain times!

We launched an impact survey to update this project with timely insights during 2020. Update frequency will depend upon evolving market conditions and executive opinions. Our participants are executives driving strategy, marketing, sales and product management at competitive companies worldwide. All updates during the rest of the year are complimentary to clients!

Abstract:
- Hurt by Cutbacks in Fleet Expansion Plans, the Beleaguered Commercial Vehicles Industry Transfers Business Pain to the HDD Catalysts Market
- The global market for Heavy Duty Diesel (HDD) Catalysts is expected to slump by -16.9% in the year 2020 and thereafter recover to reach US$1.7 billion by the year 2027, trailing a post COVID-19 CAGR of 2.9% over the analysis period 2020 through 2027. With Over US$518 billion in losses, the logistics industry has been one of the worst impacted by the COVID-19 crisis. Logistic companies are suffering financial losses due to transport & trade restrictions. With global economy slumping at -3%, recovery in trade & commerce is slower making for a longer & tougher road to recovery. Fleet downsizing & cancellation of fleet expansion plans is impacting demand for commercial vehicles. The scenario is expected to result in revenue losses for Heavy Duty Diesel (HDD) Catalysts which are used in heavy diesel engines for emission control. Diesel engines are known for their high efficiency, reliability, durability, and low-cost operation, which make them most preferred engine type in automotive vehicles including passenger cars, trucks, buses, and off-road equipment such as construction machines. For operating heavy duty buses and trucks, diesel engines are preferred over other internal combustion engines due to their higher torque output, high fuel economy, and reliability. Moreover, diesel engines are extremely durable, inexpensive to operate, and easy to repair. The interest in diesel engines, especially the heavy-duty engines, has grown substantially over the decades in line with sustained growth in the global transport markets, and rapid rise in freight consignment volumes and commuter numbers. Offering unmatched levels of efficiency in land transport operations, trucks equipped with heavy duty diesel engines have become a mainstay in the domestic economy of many nations, connecting production, import, export and wholesale and retail markets in the nation or a region.
- Emission control catalysts help in eliminating harmful engine pollutants from a wide range of fuels, such as diesel, gasoline, natural gas, and alternate fuels. Platinum, Palladium and Rhodium are widely used in emission catalysts for different light trucks and automobiles. Each catalyst contains PGM in varying proportions depending on the size of the engine in each vehicle, normal operating temperature of the engine and the catalyst manufacturer. Various governments across the globe are establishing stringent environmental standards to regulate emissions from fossil fuel vehicles including heavy duty diesel engines. Given that diesel engines are among the worst in terms of emissions, strong focus is shed on developing cost-effective emissions control technologies that would facilitate in reduction of air pollution of diesel engines without compromising on the inherent advantages of diesel engines. Considering the negative implications of diesel exhaust emissions on environment and human health, governments across the world have formulated stringent regulations to reduce and contain the Greenhouse Gas (GHG) emissions releasing from diesel engines. Such regulations on use of heavy-duty diesel engines are prominent in regions such as the United States and Europe, which have launched successive regulatory legislations to monitor and supervise the diesel engine performance over the past few decades. The regulatory norms formulated by the US and European agencies are being followed, either in their original form or in a localized format, by several other countries including India, China, Brazil, and Japan among others.
- The stringent regulatory scenario has created a fertile ground for the proliferation of innovative heavy-duty diesel (HDD) catalysts, the catalytic systems specifically designed to convert toxic substances present in diesel engine exhaust into non-toxic and less harmful substances through chemical reaction. With regulatory legislations becoming harsher with every successive amendment, the importance of HDD catalysts will continue to gain precedence in the post pandemic period. Asia-Pacific has emerged as the largest producer and also the consumer of heavy-duty diesel engines and is therefore a major consumer of HDD catalysts such as Diesel oxidation catalyst (DOC), diesel particulate filter (DPF), selective catalytic reduction (SCR), Exhaust Gas Recirculation (EGR), Lean NOx Catalysts (LNC), and Lean NOx Traps (LNT).China accounts for a large proportion of Asia-Pacific’s production and consumption, thus emerging as the hub of diesel engine market in the world. Improvements in diesel technology are expected to facilitate in improving emission standards as well as minimizing noise levels. There are various catalytic technologies that are continuously being introduced in the market, each attempting to reduce the emission levels. Irrespective of which technology would play a dominating role in near future, two trends that clearly stand out are that emissions from heavy duty diesel vehicles are bound to reduce over a certain period of time and platinum group metals will play a pivotal role in achieving this task. Heavy duty diesel market is already gaining significance in the platinum industry and platinum group metals in the post pandemic period will influence growth in the development and further improvement of existing and future diesel emission control technologies.

- Select Competitors (Total 40 Featured) -
  • BASF SE
  • Clariant
  • Clean Diesel Technologies, Inc. (CDTi)
  • Johnson Matthey plc
  • N.E. Chemcat Corporation
  • Umicore N.V.

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