Diesel Exhaust Fluid Market to Exhibit 7.1% CAGR With Rising Awareness for Automobile Maintenance - TMR - Seite 2

From a geographical point of view, the global market for diesel exhaust fluid is seen to be dominated by Europe with 6.9% CAGR within the forecast period. This is being followed by North America with a value expectation of US$3,147.1 mn by the end of 2022 from US$2,275.2 mn exhibited in 2017. North America is seen to be exhibiting a CAGR of 6.7% and may give tough competition to the market in Europe in the coming years. However, Asia Pacific accounted for a revenue share of 24.7% and is prognosticated to gain a larger hold of the market with a stronger CAGR of 6.7%.

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Reduction of Vehicular Nitrogen Oxides to Boost Market Growth 

The market for diesel exhaust fluid is anticipated to be fuelled by a number of factors like the usage of diesel fluids in automotive engines in order to reduce nitrogen oxide emission. Nitrogen oxides may hamper the performance of vehicles and therefore need to be checked with the help of diesel exhaust fluids. Moreover, if vehicles are regularly served with diesel exhaust fluids, it increases the efficiency of the engine, thus acting as a boost to the market for growth and more revenue generation.

Lack of Proper Vehicle Care to Hamper Market Growth 

Although vehicle maintenance procedures are provided in detail in manuscripts and also instructed to buyers from manufacturers, most of the vehicle owners are ignorant towards regular testing of their vehicles and timely repairs. Because of this, not only the longevity of cars be reduces but also the diesel exhaust fluid market may have to face loss. However, increase in awareness about environment, along with the efforts and smart marketing of automobile companies may further add a boost to the overall growth of the diesel exhaust fluid market in the future.

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The above review is based on a report by TMR, titled," Diesel Exhaust Fluid Market (Packaging - Bottles, Drums, IBCs; Equipment Solution - Certified Pumps, Hoses, Nozzles, Mini-bulk Systems, Bulk Delivery Trucks, Box Delivery Trucks, Transport Trucks, Tank Wagons; Vehicle Type - Passenger Cars, Farm Machinery, Mobile and Static Cranes, Airport and Dockside Vehicles, Construction Equipment, Mining Machinery, Tractors, Cranes, Dumper Trucks) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2022".