Automotive Catalyst Market is expected to rise from its initial estimated value of USD 12.60 billion to an estimated value of USD 18.98 billion by 2026, registering a CAGR of 5.25% in the forecast period of 2020-2026. To control the discharge of the hazardous gases in the vehicles, there is automotive catalyst which is used in the exhaust system.
Key Market Competitors: Global Automotive Catalyst Market
Few of the major competitors currently working in global automotive catalyst market are Umicore, BASF SE, Johnson Matthey, CATALER CORPORATION, Clariant, CDTi Advanced Materials, Inc., Cummins Inc., Heraeus Holding, INTERKAT Catalyst GmbH, Tenneco Inc., IBIDEN, N.E. CHEMCAT, Magneti Marelli S.p.A, BOSAL, CRI Catalyst Company LP, Ecocat India Pvt. Ltd., Eberspächer, Klarius Products Ltd.
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They usually stop the emission of gases like nitrogen oxides, hydrocarbons, carbon oxides and other gases which are harmful for the environment. There main purpose is to transform these harmful gases into the less noxious gases. Rhodium catalyst, palladium catalyst, and platinum catalyst are some of the most common type of the automotive catalyst. Growth in the automotive industry is the major factor fuelling the growth of this market.
Segmentation: Global Automotive Catalyst Market
- By Type (Platinum Catalysts, Palladium Catalysts, Rhodium Catalysts)
- By Vehicle Type (Light-Duty Vehicle, Heavy-Duty Vehicle, Motorcycle, Passenger Car)
- By Engine Type (Gasoline, Diesel)
- By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
Competitive Analysis: Global Automotive Catalyst Market
Global automotive catalyst market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of automotive catalyst market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
- Growth in the automobile industry is driving the growth of this market
- Rising prevalence for nanotechnology in catalytic converter is another important factor driving the growth of this market
- High price of the automotive catalyst is restraining the growth of this market
- Increasing manufacturing of electric vehicle is another factor restraining the market growth
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved
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