Automotive Selective Catalytic Reduction Market Size

Automotive Selective Catalytic Reduction (SCR) Market size was valued at USD 9.88 Billion in 2023 and is expected to reach USD 33.32 Billion by the end of 2036, expanding at around 9.8% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of automotive selective catalytic reduction (SCR) is assessed at USD 10.75 Billion. The growth of the market can primarily be attributed to the increasing number of vehicles throughout the world, as well as the worldwide growing emission of nitrogen oxide (NOx) compounds that have generated enormous prospects for market growth. For instance, the emission of nitrogen oxide (NOx) in the United States was found to be about 7.5 million tons in 2021.

In addition to these, factors that are believed to fuel the market growth of the global selective catalytic reduction (SCR) market include the rise in government rules and regulations to control the expanding ratio of emissions. Moreover, there has been a dynamically rising awareness regarding the notable benefits of automotive SCR in decreasing various sort of emissions level, that is estimated to create lucrative opportunities for the expansion of the automotive SCR market in the coming years. For instance, automotive SCR can reduce NOx emissions by up to 91% while also cutting HC and CO emission levels by around 52% to 88% and PM emission levels by 35% to 54%. Additionally, the worldwide expanding advancement in transportation infrastructure is also predicted to present the potential for market expansion over the projected period.