The Competitive Scenario provides an outlook analysis of the various business growth strategies adopted by the sellers. The news covered in this section deliver valuable thoughts at the different stage while keeping up-to-date with the business and engage stakeholders in the economic debate. The areas included in the report are made by using the data of the key business sector. It also provides region-wise and country-wise growth rates of the Catalytic Converter Market. It also covers breakdown by product and application by incorporating details of the market size depending on development and applications. The report provides insights on Market Penetration, Market Development, Market Diversification, Competitive Assessment & Intelligence, and Product Development & Innovation.
Catalytic Converter Market by Type (FWCC, TWCC, SCR, DOC, and LNT), Material (Platinum, Palladium, and Rhodium), Vehicle Type (Passenger Cars, LCV, Bus & Truck, Construction, and Agriculture & Mining), Aftermarket and Geography (North America, Europe, Asia-Pacific, Middle East and Africa and South America)
Catalytic Converter Market Overview
The catalytic converter market was valued at USD 12 billion in 2020, and it is expected to reach USD 18 Billion by 2026, registering a CAGR of more than 7% during the forecast period 2021-2028
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Catalytic converter reduces the emissions in the automobiles by removing toxic compounds such as carbon monoxide, nitrogen oxide, and hydrocarbon from the exhaust system of vehicles.
The increasing demand for passenger cars along with the rising stringency in emission norms is the factor that has supported long-term expansion for Catalytic Converter Market.
The COVID-19 pandemic had a huge impact on the market, owing to the decrease in the number of new passenger and commercial vehicles sold across the world. With different restrictions implemented, even the aftermarket sales of the catalytic converter did not account for good business in 2020. However, with the projected increase in preference for individual mobility, the market expects to grow back to normal economic conditions post-pandemic.
Catalytic Converter Market Regional Analysis
Asia Oceania has the largest market share of vehicle production with about 54–56% of the total vehicle production. China, India, and Japan are the largest vehicle production hubs because of rising urbanization, increasing GDP, and industrialization among others. With the growing vehicle production, vehicle emissions have also increased significantly.
Catalytic Converter Market Competitive Landscape
Key Players
• Faurecia SA
• BASF Catalysts LLC
• Eberspaecher GmbH Holding & Co.
• Magneti Marelli S.P.A
• Tenneco Inc.
• Benteler International AG
• Calsonic Kansei Corporation
• Standard Motor Products Europe Ltd.
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Recent Developments in the Catalytic Converter Market
• In March 2021, Eberspaecher started a new plant for exhaust technology with an area of 21,000 square meters in Ramos Arizpe, Mexico. With this plant, the company aims to increase the production of exhaust systems with improved efficiency and lesser harmful emissions.
• Air Liquide and Faurecia announce the signature of a joint development agreement to design and produce on-board liquid hydrogen storage systems for the automotive industry. Through this technology partnership, the two companies will accelerate the deployment of zero-emission heavy-duty mobility.
Reasons to Acquire Catalytic Converter Market Report
• Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
• Gain authentic and granular data access for Catalytic Converter Market so as to understand the trends and the factors involved behind changing market situations
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns
Table of Contents
Catalytic Converter Market is segmented into catalytic converter type, aftermarket vehicle type, off-highway vehicle type, material, aftermarket and region.
On the basis of Type
Three-way catalytic converter (TWCC)
Four-way catalytic converter (FWCC)
Diesel oxidation catalyst (DOC)
Selective catalytic reduction (SCR)
Lean NOx trap (LNT)
On the basis of Material
Palladium
Platinum
Rhodium
Others (Ruthenium, Iridium, Zeolites, and Vanadium)
On the basis of Vehicle Type
Passenger car
Light commercial vehicle
Truck
Bus
On the basis of Aftermarket, Vehicle Type
Passenger car
Light commercial vehicle
Heavy commercial vehicle
On the basis of Off-highway, Vehicle Type
Agricultural Tractors
Construction Equipment
Mining Equipment
On the basis of Region
Asia Pacific
North America
Europe
South America
Middle East & Africa
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