The global diesel exhaust fluid market was valued at US$ 10.96 billion in 2016 and is expected to reach US$ 24.90 billion by 2025, at a CAGR of 9.72% during the forecast period (2017–2025), according to a Global Diesel Exhaust Fluid Market, by Storage Solution (Bulk Storage Tanks, Portable Containers, Dispensers and Others), by Vehicle Type (Passenger Cars and Commercial Vehicles), and by End-Use (Original Equipment Manufacturers (OEM) and Aftermarket ) published by Coherent Market Insights. Key factors such as growing demand for diesel exhaust fluid in off-road diesel engines such as portable generators, excavators, and tractors, stringent regulations executed on NOx emission through diesel engines by regional environmental protection authorities, significant growth of automotive industry across the world along with rise in sales of passenger & commercial vehicles are fueling growth of global diesel exhaust fluid market.
Moreover, favorable growth of Original Equipment Manufacturers market is projected to have positive impact on growth of diesel exhaust fluid market throughout the forecast period. For instance, Germany is a leading Automotive and Original Equipment Manufacturers (OEM) market in Europe. According to European Automobile Manufacturers Association, in 2017, there are total 41 working OEM sites in Germany. Increasing demand for diesel exhaust fluid is an immense opportunity for diesel exhaust fluid storage service providers and raw material suppliers to invest into the market.
However, changing consumer preference towards electric vehicles, fluctuating urea prices across regions, adulteration of diesel exhaust fluid are major challenges for market growth.
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