The commercial vehicle urea tank market to grow by USD 129.57 million from 2023 to 2028; the market is fragmented due to the presence of prominent companies like ACGB France, Gemini Group Inc, KaiLong, and many more- Technavio
NEW YORK, Nov. 10, 2023 /PRNewswire/ -- The commercial vehicle urea tank market is estimated to grow by USD 129.57 million from 2023 to 2028, growing at a CAGR of over 4.88%.
NEW YORK, Nov. 10, 2023 /PRNewswire/ -- The commercial vehicle urea tank market is estimated to grow by USD 129.57 million from 2023 to 2028, growing at a CAGR of over 4.88%. The commercial vehicle urea tank market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer commercial vehicle urea tank market are ACGB France, Amphenol Corp., Centro Inc., Cummins Inc., Elkamet Kunststofftechnik GmbH, Gemini Group Inc., KaiLong, Kingspan Group Plc, KUS Technology Corp., Myers Industries Inc., Robert Bosch GmbH, Rochling SE and Co. KG, Salzburger Aluminium AG, Scania AB, Shaw Development LLC, The ITB Group Ltd., Yara International ASA, Zhejiang Fomay Industrial Machinery Co. Ltd., DGL Group LTD., and Solar Plastics LLC.
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Company Offering:
- ACGB France: The company offers commercial vehicle urea tank which is made up of stainless steel, or aluminum with an internal coating to comply with EURO IV to EURO VI regulations.
- Gemini Group Inc: The company offers commercial vehicle urea tanks that are manufactured from linear polyethylene.
- KaiLong: The company offers commercial vehicle urea tanks such as blow-molded DEF tanks.
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The region segment includes APAC, North America, Europe, South America, and Middle East and Africa. APAC accounts for 60% during the forecast period. The growth of the market in this region is driven by the growing penetration of SCR systems into trucks and buses. Moreover, the stringency of emission legislation that is followed by individual countries across APAC will also be a key factor for the growth of the market within this region.
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- Impactful driver- Increasing penetration of SCR in commercial vehicles
- Key Trend - Development of single-module after-treatment systems
- Major Challenges - Reduced availability of low-sulfur fuel in emerging countries
Market Segmentation
- By Application, the market is classified into LCV and HCV. The LCV segment is estimated to witness significant growth during the forecast period. Market penetration of commercial vehicle urea tanks in LCVs is largely dependent on diesel LCVs, as NOx regulations for gasoline LCVs do not require the addition of SCR to control emissions.
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Commercial Vehicle Urea Tank Market Scope |
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Report Coverage |
Details |
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Historic period |
2018-2022 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.88% |
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YoY growth 2022-2023 (%) |
4.55 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Key countries |
US, China, Japan, India, and Germany |
TOC:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix
About US
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Contact US:
Technavio Research
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