Catalytic converter demand and use in the automotive industry has been steadily expanding. Governments all around the world are establishing strict emission norms to control and reduce carbon emissions in response to growing environmental and health concerns. Emission control authorities in various locations have enacted severe emission levels mandates and have also restricted the permissible emission limits that OEMs must adhere to. This has prompted OEMs to put pressure on automobile catalytic converter manufacturers to develop technologically improved catalytic converters that will not only lower a vehicle's emissions but also improve its performance.
According to UnivDatos Market Insights (UMI)’ research report “Automotive Catalytic Converter Market”, the market is expected to witness a CAGR growth of around 6.1% during the forecast period 2021-2027F. Global Automotive Catalytic Converter Market is experiencing significant growth due to the upgrading emission norms and standards as well as increasing vehicle sales and manufacturing volumes are expected to drive growth.
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Based on Type, the market is segmented into two-way catalytic, three-way catalytic and others. The three-way catalytic are mainly used in vehicle emission control system across the world. The three-way catalytic is expected to dominate the market over the forecasted period. It has been used in emission control system in North America and other countries since 1981.
Based on Material, the market is segmented into platinum, palladium, and rhodium. Rhodium is a popular material for recycling vehicle catalytic converters because it is more effective at removing dangerous exhaust emissions by breaking down nitrogen oxides in exhaust gases and releasing harmless oxygen and nitrogen gases. The majority of the demand for rhodium catalyst comes from the automobile industry, and this segment is projected to remain dominant for a long time.
Based on Vehicle, the market is segmented into passenger car and commercial vehicle. Because of the higher number of sales and manufacturing of passenger automobiles around the world, the passenger car category has the biggest market share. The rapid growth in the number of passenger automobiles is due to increased urbanization, an improvement in the standard of living, the construction of road infrastructure, and an increase in disposable money, particularly in countries such as India, China, Japan, and portions of Europe.
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Asia-Pacific to Grab Lion’s Share
Asia Pacific currently owns the biggest worldwide catalytic converter market share, which is likely to continue during the forecast period. The expanding urbanization, strong demographic growth, increase in the standard of living, expansion of the industrial sector, and rise in people's income levels are the primary reasons for the high volume of automobiles in this region. Car emissions have increased dramatically as a result of increased vehicle production, resulting in high levels of air pollution and global warming.
According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the Global Automotive Catalytic Converter Market are includes Faurecia SA, BASF Catalysts LLC, Magneti Marelli S.P.A Tofurky, Tenneco Inc., Eberspaecher GmbH Holding & Co., Benteler International AG, Calsonic Kansei Corporation, Futaba Industrial Co. Ltd, BOSAL GROUP, Standard Motor Products Europe Ltd. etc.
- On March 2020, BASF launched new Tri-Metal Catalyst, enabling partial substitution of palladium with platinum in catalytic converters
- In March 2020, Vitesco Technologies, a branch of Continental's Powertrain business, announced a contract with a large European manufacturer to deliver electric heating components for diesel catalytic converters. With a 40% reduction in NOX emissions and a 3% reduction in CO2 emissions, the company proved great efficiency with its solutions for diesel engine vehicles
“Global Automotive Catalytic Converter Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on different parameters. This will help companies in the formulation of go to market strategies and identifying the blue ocean for its offerings.
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Market Segmentation:
- By Type (Two-way Catalytic Converter, Three-way Catalytic Converter, Other Types)
- By Material (Platinum, Palladium, Rhodium)
- By Vehicle (Passenger Cars, Commercial Vehicles)
- By Region (North America (United States, Canada, Rest of North America), Europe (Germany, France, UK, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Rest of APAC), and Rest of World)
- By Company (Faurecia SA, BASF Catalysts LLC, Magneti Marelli S.P.A Tofurky, Tenneco Inc., Eberspaecher GmbH Holding & Co., Benteler International AG, Calsonic Kansei Corporation, Futaba Industrial Co. Ltd, BOSAL GROUP, Standard Motor Products Europe Ltd.)
Key questions answered in the study:
- What are the current and future trends of the Global Automotive Catalytic Converter industry?
- How the industry has been evolving in terms of end-user demand and product category?
- How the competition has been shaping across the countries followed by their comparative factorial indexing?
- What are the key growth drivers and challenges for the Global Automotive Catalytic Converter industry?
- What is the customer orientation, purchase behavior, and expectations from the Global Automotive Catalytic Converter suppliers across various countries?
Table of Content –
1 MARKET INTRODUCTION
2 RESEARCH METHODOLOGY OR ASSUMPTION
3 MARKET SYNOPSIS
4 EXECUTIVE SUMMARY
5 AUTOMOTIVE CATALYTIC CONVERTER MARKET COVID-19 IMPACT
6 AUTOMOTIVE CATALYTIC CONVERTER MARKET REVENUE, 2019-2027F
7 MARKET INSIGHTS BY TYPE
8 MARKET INSIGHTS BY MATERIAL TYPE
9 MARKET INSIGHTS BY VEHICLE TYPE
10 MARKET INSIGHTS BY REGION
11 AUTOMOTIVE CATALYTIC CONVERTER MARKET DYNAMICS
12 AUTOMOTIVE CATALYTIC CONVERTER MARKET OPPORTUNITIES
13 AUTOMOTIVE CATALYTIC CONVERTER MARKET TRENDS
14 EMISSION AND FUEL ECONOMY REGULATIONS
15 DEMAND AND SUPPLY SIDE ANALYSIS
16 VALUE CHAIN ANALYSIS
17 COMPETITIVE SCENARIO
18 COMPANY PROFILED
19 DISCLAIMER
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