Automotive Catalytic Converter
An automotive catalytic converter is one of the several elements of an exhaust system that reduces the emission of harmful pollutants, such as carbon monoxide (CO), hydrocarbons (HC) and nitrogen oxides (NOx). The catalytic function of the converter will activate certain oxidation and reduction reactions, which transform these harmful pollutants into carbon dioxide (CO2), water (H2O) and nitrogen (N2).
Market trend Snapshot
Global Automotive Catalytic Converter market was valued at XXXX USD in 2019 and projected to reach XXXX USD by 2026, growing at a CAGR of XXXX%. This report provides comprehensive and in-depth analysis and prediction of the Automotive Catalytic Converter industry. The immense growth gets help from some factors. The Automotive Catalytic Converter market is anticipated to witness significant growth during the forecast period mainly owing to stringent emission control rules and regulations globally. Furthermore, increasing investments on research and development by the automotive manufacturers are also giving impetus to the Automotive Catalytic Converter market growth.
From Base year 2018 to forecast year 2026
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Key Market Players Profile
Key market players covered in the report such as Benteler International, Eberspacher, Faurecia, Umicore, ASF Catalysts LLC, Magneti Marelli, Tenneco, AP Exhaust Products, BASF Catalysts, Bosal International, Calsonic Kansei North America, Clean Diesel Technologies, Friedrich Boysen, Harbin Airui Automotive Exhaust System, Katcon, Sango, Sejong Industrial, and Yutaka Giken. These players’ market share, revenue, company profile, and SWOT analysis are covered in the Automotive Catalytic Converter report. In the future, production and consumption are estimated to continue developing with a stable growth rate. As a result of meeting the surging demand, more manufacturers are expected to go into this industry.
Europe holds the largest Automotive Catalytic Converter market share
The report covers the major countries analysis in North America, Europe, Asia Pacific, and the rest of the world. Furthermore, policy mobilization, social dynamics, fashion trends, and economic development in these countries are also taken into consideration.
Europe dominates the Automotive Catalytic Converter market and expected to maintain dominance during the forecast period, this trend is mainly attributed to the presence of various automotive manufacturing facilities, ongoing R&D, and stringent emission norms such as Euro-V and Euro-VI emission standards.
The Asia Pacific is anticipated to witness the fastest growth during the predicted years. 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. For instance, China and India are currently running on China IV and BS IV. However, they are planning to implement China VI and BS VI by 2020 which is equivalent to Euro VI. Moving toward strict emission norms will create a huge demand for various aftertreatment devices, which accordingly stimulating the Automotive Catalytic Converter market growth.
Automotive Catalytic Converter Type and Application Sketch
By type
Three-way Catalysts (TWC) segment dominated the Automotive Catalytic Converter market and expected to occupy the major market share in the coming years. The demand for the three-way oxidation-reduction catalytic converter is navigated in the market with the increase in demand for ultralow emissions in the vehicles. These converters carry out the oxidation of carbon monoxide and unburnt hydrocarbons to water and carbon dioxide, along with the conversion of oxides of nitrogen to nitrogen and oxygen.
By application
Passenger Vehicle segment holds the largest market share owing to maximum vehicle parc. The emission regulations are getting more stringent as well. Between the Euro 4 to Euro 6, particulate matter and NOx levels have reduced significantly. This has prompted the installation of new catalytic converters such as DOC and SCR in older vehicles which have further spurred the demand for catalytic converters in the aftermarket for passenger cars.
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