The Catalytic Converter Market is projected to grow at a CAGR of 8.05% from 2016 to 2021, to reach a market size of USD 55.16 billion by 2021. Decreased emission limits in existing emission regulations and increased fuel efficiency targets are expected to drive the demand for catalytic converters during the forecast period.
The implementation of Euro 6 regulations has decreased NOx limits to 0.08 g/kWh (for diesel light-duty) from 0.18 g/kWh in Euro 5. With these regulations, the smaller and medium size engines (2L) would use Diesel Oxidation Catalyst (DOC) and Diesel Particulate Filter (DPF) along with Selective Catalytic Reduction (SCR). However, SCR being a more cost-effective and fuel-efficient technology, according to a group of industry experts, would be a preferred NOx control technology over LNT. The only limitation of SCR technology is that it requires additional space to fit the urea tank and dosing system. Heavy-duty and larger light-duty vehicles have enough space to integrate SCR into the exhaust system and hence, likely boost the adoption of SCR, especially in commercial vehicles.

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The study estimates Asia-Oceania as the fastest growing market for catalytic converters. The growth in this region can be attributed to increased vehicle sales and cost competitiveness for original equipment manufacturers. Besides, many countries from the region will be upgrading their emission regulations in the next few years. For instance, the emission regulations in India will be upgraded to BS 6 (2020–2021). Likewise, the regulations in China will be upgraded to Euro 5 (2019–2020), and those in Vietnam and Thailand will be upgraded to Euro 5 (2018–2019). The new regulations would drive the demand for catalytic converters in these countries. Other countries such as Brazil (Euro 4) and Russia (Euro 6) have plans to introduce the updated emission regulations by 2018–2019. Hence, these markets will also act as new revenue pockets for the catalytic converter manufacturers. This will also drive the market for emission control catalyst manufacturers and suppliers.

The demand for catalytic converters in the aftermarket is projected to be fastest in the North American region, owing to growing vehicle parc and increased average vehicle life. Asia-Oceania is estimated to be the second fastest region for replacement catalytic converter. However, owing to lenient safety regulations, the market has limited volume presently. Based on upcoming regulations, as mentioned above, the demand for aftermarket catalytic converters would grow in the near future in this region.

The catalytic converter market ecosystem consists of catalytic converter manufacturers such as Faurecia SA (France), Tenneco, Inc. (U.S.), Eberspacher Group (Germany), Benteler International AG (Germany), and Magneti Marelli S.p.A. (Italy). Catalytic converters are supplied to major OEMs in the automotive industry such as Volkswagen (Germany), Nissan (Japan), Honda (Japan) and others.

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Target Audience

• Manufacturers of the automotive catalytic converter
• Raw material manufacturers of automotive catalytic converter components (suppliers for Tier I)
• Traders, distributors, and suppliers of automotive catalytic converter components or raw materials
• Regional manufacturer associations
• Automotive OEMs
• Organized and unorganized aftermarket suppliers
• Automotive catalytic converter recyclers
• Government’s national and regional environmental regulatory agencies or organizations

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