Global Heavy-Duty Diesel Catalyst (HDD) Market To Hit $ 1.7 Trillion By 2026

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Global Heavy-Duty Diesel Catalyst (HDD) Market To Hit $ 1.7 Trillion By 2026

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SAN FRANCISCO, March 16, 2022 / PRNewswire / – A new market study released by Global Industry Analysts Inc., (GIA), the leading market research firm, released its report today titled “Heavy Duty Diesel Catalysts (HDDs) – Global Market Trajectory and Analysis”. The report presents new perspectives on opportunities and challenges in a greatly transformed post-COVID-19 market.

Heavy Duty Diesel Catalysts (HDD) Market.

Heavy Duty Diesel Catalysts (HDD) Market.

THE FACTS AT A GLANCE
Editing: 18; Released: February 2022
Executive pool: 2736
Companies: 40 – Covered players include BASF SE; To clarify; Clean Diesel Technologies, Inc. (CDTi); Johnson Matthey PLC; NE Chemcat Corporation; Umicore NV and others.
Coverage: All major geographic areas and key segments
segments: Segment (Heavy Duty Diesel Catalysts (HDDs))
Geographies: World; United States of America; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia Pacific; Rest of the world.

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ABSTRACT-

Global Heavy Duty Diesel Catalyst (HDD) market to reach $ 1.7 billion by 2026
Emission Control Catalysts help remove harmful engine pollutants from a wide range of fuels, such as diesel, gasoline, natural gas and alternative fuels. Platinum, palladium and rhodium are widely used in emission catalysts for various light trucks and cars. Each catalyst contains PGMs in varying proportions depending on each vehicle’s engine size, normal engine operating temperature, and catalyst manufacturer. Various governments around the world are setting strict environmental standards to regulate emissions from fossil fuel vehicles, including heavy diesel engines. As diesel engines are among the worst in terms of emissions, several companies are now focusing on developing cost-effective emission control technologies that would facilitate the reduction of air pollution from diesel engines without compromising the inherent benefits of diesel engines.

During the COVID-19 crisis, the global Heavy Duty Diesel (HDD) catalyst market is estimated at 1.4 billion dollars in the year 2022, it is expected to reach a revised size of 1.7 trillion dollars by 2026, growing at a CAGR of 2.9% over the analysis period. The market in the United States is valued at 454.8 million dollars in the year 2021. The country currently represents a share of 32.35% in the global market. Chinathe second largest economy in the world, it is expected to reach an estimated market size of 311.2 million dollars in the year 2026 behind a CAGR of 4.8% during the analysis period. Other noteworthy geographic markets are Japan And Canada, each of which expects growth of 1.6% and 1.8% respectively over the analysis period. Within Europe, Germany it is expected to grow at around 2.3% CAGR while reaching the Rest of Europe market (as defined in the study). 331.5 million dollars within the year after the end of the analysis period.

Backed by thriving auto markets in Asian countries in particular China, India And Thailand, the environmental catalyst majors are shifting their focus from the Western world to profitable Asian domains. With automotive vehicle sales growing at high rates, the auto catalyst market segment is seeing tremendous growth. Furthermore, with China By striving to implement stringent car emission standards and EU level IV emission standards, the car catalyst market is expected to offer lucrative opportunities for domestic and foreign players operating in the region. with Chinamany other countries including India, Singapore, Malaysia, Thailand, IndonesiaAnd South Korea among others, they are actively pursuing Euro IV and Euro V emission standards to reduce vehicular pollution in their respective countries.

Palladium is rapidly gaining ground against platinum
Platinum Group Metals (PGMs), including palladium and platinum, are fast becoming vital components to achieve the desired emissions control in buses, trucks and other heavy-duty diesel vehicles. The demand for these metals has gained considerable momentum due to the increased demand for automotive catalytic converters. Implementing stringent emission standards for trucks and automobiles in the United States e Europe Moreover of China the dominance in the automotive industry are fueling the demand for palladium and platinum coated catalytic converters. Emission control laws implemented around the world primarily drive demand for palladium. Catalysts with a high palladium content are rapidly replacing platinum catalysts in gasoline exhaust systems. However, the demand for platinum has increased due to its increasing use in catalysts for diesel exhaust systems. Japan it is the largest market for platinum and palladium. Russia And South Africa are the main suppliers of platinum and palladium. The demand for palladium has increased considerably in recent years. The increase could be attributed to the use of Palladium in anti-pollution catalytic converters. Palladium is preferred over platinum, due to minor technological advantages and a relatively low price. According to US regulations on HC (hydrocarbon) emissions, palladium catalysts should be used in automobiles. Many automakers have combined palladium starter bricks with the traditional underbody system that sits close to the engine allowing you to reach high temperatures and control high hydrocarbon emissions when starting a car. Many Japanese companies have also started using palladium-based catalysts in most of their home models. Through the implementation of stringent regulations, the use of palladium to produce catalytic converters has doubled the gap between palladium supply and demand. More

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Email: ZA@StrategyR.com

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SOURCE Global Industry Analysts, Inc.

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