Research Nester assesses the growth of global automotive catalytic converter market over the forecast period, i.e., 2023-2033, and evaluates its future prospects. Rising automotive industry and deteriorating air quality index to drive market growth.
New York – October 28, 2022 - Research Nester’s recent market research analysis on “Automotive Catalytic Converter Market: Global Demand Analysis & Opportunity Outlook 2033” delivers a detailed competitor analysis and a detailed overview of the global automotive catalytic converter market in terms of market segmentation by product type, material used, vehicle type, and by region.
Growing Concern for the Prevalence of Greenhouse Gas Emission to Drive Growth of Global Automotive Catalytic Converter Market
The global automotive catalytic converter market is estimated to grow majorly on account of the increased pollution and emissions by the transport sector. For instance, the transportation sector is responsible more than 25% of greenhouse gas emissions.
The market research report on global automotive catalytic converters encompasses an in-depth analysis of the industry growth indicators, restraints, supply and demand risk, along with a detailed discussion of current and future market trends. These analyses help organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future. Additionally, the growth opportunities exposed by the market are poised to gain significant momentum in the next few years.
By vehicle type, the global automotive catalytic converter market is segmented into passenger cars, light commercial vehicles, and heavy commercial vehicles. The heavy commercial vehicles segment is to garner a highest revenue by the end of 2033 by growing at a CAGR of ~ 7% over the forecast period. Rise in the production of heavy trucks.
By region, the Asia Pacific automotive catalytic converter market is to generate the highest revenue by the end of 2033. This growth is anticipated by rising concern for growing incidences owing to air pollution.
The research is global in nature and covers a detailed analysis of the automotive catalytic converter market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, an analysis comprising of global automotive catalytic converter market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook, etc. has also been covered and displayed in the research report.
This report also provides the existing competitive scenario of some of the key players of the global automotive catalytic converter market which includes company profiling of Benteler International AG, DRiV Incorporated, Tenneco Inc., Yutaka Giken Company Limited, Sango Co. Ltd., Futaba Industrial Co. Ltd., Hanwoo Industrial Co. Ltd., Eberspächer Gruppe GmbH & Co. KG, Marelli Holdings Co., Ltd. Sejong Industrial Co., Ltd., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the global automotive catalytic converter market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching for possibilities, and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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The global automotive catalytic converter market size was valued at USD 111.00 billion in 2014 and is projected to reach USD 272.95 billion by 2024.
The growth can be attributed to strict government and institutional norms applied for emission control, rapidly growing automobile industry, evident environmental impact caused by automobile emissions and advancements in the product technology.
Generally, the product consisting of a core made up of a ceramic honeycomb structure coated with the catalyst metal is installed in the emission mechanism of the vehicle.Stringent regulations imposed in several North American and European countries mandating the use of converters in all vehicles are expected to elevate their demand.
Innovation & development of technology in the segment is fast paced, effectively catering to the requirements.Download Free Sample Report @ https://www.millioninsights.com/industry-reports/automotive-catalytic-converter-market/request-sampleIncreased hybrid & electric vehicles’ demand is expected to challenge the automotive catalytic converter market over the forecast period, as these vehicles do not use an inbuilt converter on account of the absence of any form of emission.
Regulations for emissions limits as well as jurisdictions are not uniform across different countries as a result of which design of catalytic converters and production processes cannot be standardized.Manufacturers are constantly bringing about innovations in the design of these converters for improving the efficiency and applications in new automobile segments as well as across a wide array of engines.
There are a lot of scope in eco-friendly technologies of production, catalyst conversion reactions and emissions control.
The latest trending report Global Automotive Catalytic Converter Market 2020 by Manufacturers, Regions, Type and Application, Forecast to 2025 offered by DecisionDatabases.com is an informative study covering the market with detailed analysis.
The report will assist reader with better understanding and decision making.The global Automotive Catalytic Converter market size is expected to gain market growth in the forecast period of 2020 to 2025, with a CAGR of 2.7% in the forecast period of 2020 to 2025 and will expected to reach USD 18250 million by 2025, from USD 16420 million in 2019.The Automotive Catalytic Converter market report provides a detailed analysis of global market size, regional and country-level market size, segmentation market growth, market share, competitive Landscape, sales analysis, impact of domestic and global market players, value chain optimization, trade regulations, recent developments, opportunities analysis, strategic market growth analysis, product launches, area marketplace expanding, and technological innovations.Browse the complete report and table of contents @ https://www.decisiondatabases.com/ip/18234-automotive-catalytic-converters-market-analysis-reportMarket segmentationAutomotive Catalytic Converter market is split by Type and by Application.
For the period 2015-2025, the growth among segments provide accurate calculations and forecasts for sales by Type and by Application in terms of volume and value.
This analysis can help you expand your business by targeting qualified niche markets.By Type, Automotive Catalytic Converter market has been segmented into Two-Way Converters, Three-Way Converters, Other, etc.By Application, Automotive Catalytic Converter has been segmented into OEM market, Replacement market, etc.Regions and Countries Level AnalysisRegional analysis is another highly comprehensive part of the research and analysis study of the global Automotive Catalytic Converter market presented in the report.
For the historical and forecast period 2015 to 2025, it provides detailed and accurate country-wise volume analysis and region-wise market size analysis of the global Automotive Catalytic Converter market.The report offers in-depth assessment of the growth and other aspects of the Automotive Catalytic Converter market in important countries (regions), including United States, Canada, Mexico, Germany, France, United Kingdom, Russia, Italy, China, Japan, Korea, India, Southeast Asia, Australia, Brazil and Saudi Arabia, etc.
It also throws light on the progress of key regional Automotive Catalytic Converter markets such as North America, Europe, Asia-Pacific, South America and Middle East & Africa.Competitive Landscape and Automotive Catalytic Converter Market Share AnalysisAutomotive Catalytic Converter competitive landscape provides details by vendors, including company overview, company total revenue (financials), market potential, global presence, Automotive Catalytic Converter sales and revenue generated, market share, price, production sites and facilities, SWOT analysis, product launch.
The growth can be attributed to strict government and institutional norms applied for emission control, rapidly growing automobile industry, evident environmental impact caused by automobile emissions and advancements in the product technology.
Catalytic converters a component used in automobiles to convert harmful emissions comprising carbon monoxide, nitrogen oxide, and hydrocarbons into less harmful gases such as carbon dioxide, nitrogen or water.
Request a Sample PDF Copy of This Report @ https://www.millioninsights.com/industry-reports/automotive-catalytic-converter-market/request-sample Market Synopsis of Automotive Catalytic Converter Market: Stringent regulations imposed in several North American and European countries mandating the use of converters in all vehicles are expected to elevate their demand.
Growing number of automobiles, light weight as well as heavy duty vehicles in emerging markets such as China and India are expected to play an important role in shaping the market dynamics in these regions.
The discovery of bio fuels which has consequently reduced emission problems is expected to hamper the growth rate over the next few years.
Raw materials used for production primarily comprise metal catalysts which are usually costly and undergo frequent price fluctuations consequently introducing uncertainty in achieving demand consistency, optimal operations and profitability.
