Global Commercial Vehicle Urea Tank Market 2017-2021
About Commercial Vehicle Urea Tank
Rising concerns regarding depleting air quality levels, an increased amount of harmful gases emitted by commercial vehicles, and increased dependency on petroleum-based fuels are inducing governing bodies to mandate additional emission control systems within commercial vehicles to limit the emission of harmful gases into the environment. Internal combustion engines produce massive amounts of noxious gases of unburned and burned oxides of sulfur and nitrogen, carbon monoxide, and hydrocarbons.
Technavio’s analysts forecast the global commercial vehicle urea tank market to grow at a CAGR of 2.34% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global commercial vehicle urea tank market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Commercial Vehicle Urea Tank Market 2017-2021
Technavio recognizes the following companies as the key players in the global commercial vehicle urea tank market: Cummins, Elkhart Plastics, and Salzburger Aluminium.
Other Prominent Vendors in the market are: ACGB, Centro, and Gemini Group.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is alternate techniques used by vehicle manufacturers for treating vehicular emissions. Declining quality of air in the urban regions of the world and the rising number of vehicles being introduced onto the roads are significantly contributing to the increase in air pollution. About 30 countries in the world have adopted Euro4 emission standards in 2016.”
According to the report, one driver in the market is increased penetration of SCR in commercial vehicles. The rising penetration of SCR systems in commercial vehicles is expected to drive the commercial vehicle urea tank market during the forecast period. Increasing air pollution is causing governing bodies to upgrade emission norms at intervals less than a year. This has induced commercial vehicle manufacturers to equip their vehicles with the latest and most advanced emission control systems like SCR with urea tanks for ensuring continuity of business even after the upgraded emission norms are implemented.
Further, the report states that one challenge in the market is reduced availability of low-sulfur fuel in emerging countries. Commercial vehicle urea tanks are a part of the SCR system used in commercial vehicles for limiting the formation of NOx. SCR systems are used in commercial vehicles to maintain compliance with emission norms pertaining to limit NOx levels. However, SCR systems can only be effective in limiting the emission of NOx if the vehicle uses low-sulfur fuels. Hence, the low availability of low-sulfur fuels poses a significant challenge to the commercial vehicle urea tank market.
Cummins, Elkhart Plastics, Salzburger Aluminium, ACGB, Centro, and Gemini Group.
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