The Catalytic Converter Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Catalytic Converter Global Market Report 2024, The catalytic converter market size has grown rapidly in recent years. It will grow from $60.04 billion in 2023 to $66.57 billion in 2024 at a compound annual growth rate (CAGR) of 10.9%. The growth in the historic period can be attributed to regulatory mandates for emissions control (e.g., epa standards), growth in awareness of environmental pollution and air quality, increased production and sales of internal combustion engines, adoption of three-way catalytic converters for gasoline engines, expansion of automotive industry, especially in emerging markets.
The catalytic converter market size is expected to see rapid growth in the next few years. It will grow to $102.7 billion in 2028 at a compound annual growth rate (CAGR) of 11.4%. The growth in the forecast period can be attributed to growing demand for commercial and heavy-duty vehicle emissions control, adoption of advanced catalytic converter substrates (e.g., pgm-coated), focus on reduction of particulate matter (pm) emissions, increasing application in non-automotive sectors (e.g., industrial processes), expansion of aftermarket for catalytic converters and replacement parts. Major trends in the forecast period include integration of selective catalytic reduction (scr) technology, development of advanced substrates, lightweight and compact converter designs, onboard diagnostics (obd) and emission monitoring, integration of catalytic converters in exhaust system design.
Stringent emission and fuel efficiency regulations propel the growth of the catalytic converter market. To address the environmental concerns, governments have enacted strict rules, laws, and heavy fines in order to curb growing fuel emissions, which has propelled demand for catalytic converters. For instance, in 2020, the US Environmental Protection Agency and the Department of Transportation announced a new rule on vehicle pollution standards to combat climate change, resulting in increased demand for catalytic converters and thereby contributing to the catalytic converter market growth.
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The catalytic converter market covered in this report is segmented –
1) By Type: Three-Way Catalytic Converter (TWCC), Four-Way Catalytic Converter (FWCC), Diesel Oxidation Catalyst (DOC), Selective Catalytic Reduction (SCR), Lean NOx Trap (LNT)
2) By Material: Palladium, Platinum, Rhodium
3) By Vehicle Type: Passenger Car, Light Commercial Vehicle, Truck, Bus
4) By Off-Highway Vehicle Type: Agricultural Tractors, Construction Equipment, Mining Equipment
For the effective treatment of reducing harmful gas emissions and protecting the environment, modern catalytic converters are adopting nanoparticle-based catalytic converters, and this is a key trend gaining popularity in the catalytic converter market. Modern catalytic converters use nanomaterials of platinum as nano-platinum, palladium as nano-palladium, rhodium as nano-rhodium, and other metals on their inner supports. For instance, Mazda Motor Corporation, a Japan-based automobile company, has introduced a new generation of catalytic converters that employ 70 to 90% fewer precious metals to help purify exhaust pollutants. With the use of nanotechnology, a smaller amount of precious metal is required to provide the same surface area over the catalyst substrate material instead of larger particles.
The catalytic converter market report table of contents includes:
1. Executive Summary
2. Catalytic Converter Market Characteristics
3. Catalytic Converter Market Trends And Strategies
4. Catalytic Converter Market - Macro Economic Scenario
5. Global Catalytic Converter Market Size and Growth
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31. Global Catalytic Converter Market Competitive Benchmarking
32. Global Catalytic Converter Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Catalytic Converter Market
34. Catalytic Converter Market Future Outlook and Potential Analysis
35. Appendix
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SummaryGlobal Catalytic Converter Market Information Report, By Product (Two-Way Catalytic Converter, Three-Way Catalytic Converter, Diesel Oxidation Catalyst, Others), By Material (Platinum, Palladium, Rhodium, Others), By Application (Entry-Level Segment, Mid-Size Segment, Full-Size Segment) and By Region - Forecast to 2023Catalytic Converter Market OverviewThe Market Research analysts forecast the global catalytic converter market to post a CAGR of nearly 7.5% during the estimated year, according to their latest market research report.
The most proportion of automotive catalytic converters is used for a passenger vehicle for many benefits considering environmental concerns and several other factors.The increasing demand coupled with production of vehicles is driving the global catalytic converter market multiplied.
To this contrary, vehicle manufacturers are primarily focusing on various methods on the elimination of harmful emissions as well as to improve the efficiency of vehicles.
Owing to these factors, there has been now stringent emission standard globally regularized by the government to protect the environment and thus preventing hazardous effects of global warming.Catalytic Converter Market SegmentationIn the reports of MRFR, the global catalytic converter market is segmented based on product, material, application, and region.By the mode of product, the market segmentation includes a two-way catalytic converter, three-way catalytic converter, diesel oxidation catalyst, and others.
This is driving the rhodium market for the catalytic converter to the best.By mode of application, the market segmentation includes an entry-level segment, mid0size segment, and full-size segment.Key PlayersThe key players of catalytic converter market are Faurecia SA (France), Benteler International AG (Germany), Eberspächer Group (Germany), Calsonic Kansei Corporation (Japan), Yutaka Giken Company Limited (Japan), Tenneco, Inc. (U.S.), Futaba Industrial Co., Ltd. (Japan), Sango Co., Ltd (Japan), Magneti Marelli S.p.An (Italy), Bosal International N.V. (Belgium) and others.Regional OutlookIn the reports of MRFR, regionally, the global catalytic converter market has covered significant regions of North America, Europe, Asia-Pacific, and rest of the world.Among them, North America is displaying the largest market share having a stronghold owing to the high presence of automobile manufacturers in this region.
Rapid research and development activities in this sector have encouraged with the introduction of new catalytic converters adhering to the stringent emission norms.
The report titled ‘Global Catalytic Converter Market Report Forecast to 2027’ provides an in-depth study of the Catalytic Converter sector.
It examines the market thoroughly and offers a detailed evaluation of the global industry.
The report also provides a detailed evaluation of the critical elements of the global Catalytic Converter market, including product types, applications, end-uses, regions, and leading players.Market Size – USD 40 Billion in 2018, Market Growth - CAGR of 8.4%, Market Trends – Product launches and research for low cost catalytic convertersGet a Sample Copy of the Catalytic Converter Market Report (Submit your official email ID to get priority) https://www.reportsanddata.com/sample-enquiry-form/1673 The Global Catalytic Converter Market gives an outline of the current market dynamics by scrutinizing factors such as the drivers, trends, opportunities, challenges, and restraints in the forecast years (2020-2027).
It traces the competitive landscape in the Catalytic Converter industry, which underlines different aspects like product offerings, production capacity, techniques, cost structure, value chain, financial standing, sales margin, and other notable developments recorded in the Catalytic Converter sector.Additionally, this report also offers an analysis of both short-term and long-term strategies adopted by the key companies in the global Catalytic Converter business.
This is expected to help the readers in making lucrative investments in the emerging sectors or sectors that promise to record the highest growth rate in the worldwide Catalytic Converter market in the coming years.Leading Players:BASF SE, Continental, Faurecia, Benteler International AG, Eberspacher, Magnaflow, Johnson Matthey, Umicore, Tenneco-Walker, CDTi Advanced Materials Inc. Market Segmentation By Regions:North AmericaEuropeAsia PacificLatin AmericaMiddle East and Africa Market Segmentation By Types:Type (Revenue, USD Million; 2016–2026)Two WayThree WayDiesel Oxidation CatalystMaterial Type (Revenue, USD Million; 2016–2026)PalladiumRhodiumPlatinum Speak to our experts before buying the report (Use Corporate Details Only): https://www.reportsanddata.com/make-enquiry-form/1673 Catalytic Converter Market Historical Analysis (2016-2018) as well as Market Forecast (2020-2026): Market Trends: These have been assessed thoroughly to estimate the gross revenue, industry outlook, and current scenario of the market.
This section consists of the market trends pertaining to employment, consumer inclinations, technological advancements, competitive landscape, product development, and product launches, as well as regulatory policies that impact the Catalytic Converter industry.
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.
