PUBLISHER: Grand View Research | PRODUCT CODE: 1654624
PUBLISHER: Grand View Research | PRODUCT CODE: 1654624
The global selective catalytic reduction market size is anticipated to reach USD 19.71 billion by 2030, growing at a CAGR of 5.5% during the forecast period, according to a new report by Grand View Research, Inc. The selective catalytic reduction industry is experiencing significant growth driven by increasing environmental regulations across various industries. As governments worldwide tighten emission standards to combat air pollution, selective catalytic reduction (SCR) technology is being widely adopted in sectors like power generation, automotive, and industrial processes. The growing need for cleaner air and sustainable practices is pushing industries to invest in SCR systems to meet strict nitrogen oxide (NOx) emission reduction targets.
Another key trend in the SCR market is the rising adoption of diesel vehicles equipped with SCR systems. As emission standards become more stringent globally, especially in regions like Europe, North America, and Asia, SCR technology is essential for diesel-powered vehicles to comply with regulatory requirements. With the automotive industry shifting towards cleaner alternatives, SCR systems are critical for reducing NOx emissions, improving air quality, and meeting government mandates such as Euro 6 in Europe or EPA regulations in the U.S.
The growing demand for industrial applications of SCR technology is also fueling market expansion. Industries such as chemicals, oil and gas, and cement are increasingly adopting SCR systems to lower their emissions. The need to meet sustainability goals and reduce environmental impact is prompting industrial operators to invest in advanced emission control technologies. Furthermore, the continuous development of high-efficiency catalysts is boosting SCR performance in these sectors, enabling better NOx reduction with lower operating costs.
Moreover, the emergence of new markets in developing regions is contributing to the growth of the selective catalytic reduction industry. Countries in Asia-Pacific, Latin America, and the Middle East are implementing stricter environmental regulations, creating new opportunities for SCR technology adoption. As these regions industrialize and urbanize, the demand for cleaner emissions control systems is expected to rise, further expanding the global SCR market.