Europe is one of the largest markets for DEF, with Germany being the largest consumer of DEF in the region. The growth in the DEF market in Europe can be attributed to the stringent emission regulations imposed by the European Union. The Euro 6 emission standards require all diesel vehicles to reduce their NOx emissions by 67% compared to Euro 5 standards.
Market Performance for DEF:
The DEF market in Europe is highly competitive, with numerous companies offering a wide range of products. The major players in the market include Yara International, BASF SE, Cummins Filtration, CF Industries, and Agrium Inc.
The market for DEF is expected to grow at a CAGR of 9.5% from 2021 to 2026.The DEF market performance has been promising, with a projected compound annual growth rate of 6.2% until 2025. The growth is attributed to the increasing number of diesel engines in commercial vehicles, construction equipment, and agriculture machinery.
Sale in Europe:
The sale of DEF has significantly increased in Europe, especially in countries such as Germany, France, Italy, and the United Kingdom. The demand for DEF has been driven by the growing number of diesel vehicles on the road and the need to comply with Euro 6 emissions standards.
The sale of DEF in Europe is dominated by major players such as Yara International, Cummins, Royal Dutch Shell, and Total SA. These players have a significant presence in the market, and their focus on research and development activities is expected to drive the growth of the market.
In conclusion, the DEF market in Europe is expected to grow at an impressive pace due to the increasing demand for commercial vehicles and the stringent emission regulations imposed by the European Union. The market performance is expected to be positive in the coming years, and major players in the market are expected to drive the growth of the market through their focus on research and development activities.