Global Automotive Catalytic Converter Market To Record Exponential Growth With USD 198.5 Billion USD in 2027

October 2021 | Report Format: Electronic (PDF)

The Automotive Catalytic Converter is a pollution control device that helps to decrease emissions from internal combustion engines. Toxic gases like hemocyanin and carbon monoxide may be converted to less dangerous gases like nitrogen and carbon dioxide using catalytic converters. It also features a noise-reduction design to decrease vehicle emissions. Catalysts such as rhodium or palladium are used in automobile catalytic converters to reduce pollution emissions into the environment. They also improve the vehicle's efficiency. In the automobile sector, it is frequently used.

The EU implemented new rules that stifled the market for normally aspirated engines. For the 2012-2015 model years, the legislation required an average CO2 emission of 130 g/km for all automobile markets. The EU is now mandating that CO2 emissions for each vehicle company's fleet average be lowered to 95 g/km between 2020 and 2024, with a goal of reducing CO2 emissions by 15% by 2025 and 37.5 percent by 2030, notably for passenger cars with in the region. Individual nations, such as the Netherlands, imposed stricter emission regulations, requiring 80 grammes per kilometer.

The market is divided into four categories based on vehicle type: passenger automobiles, heavy commercial vehicles, light commercial vehicles, and off-highway vehicles. The passenger automobile category is expected to account for the majority of market share. Improvements in the level of living, rapid urbanization, growing disposable income, and increased volume of passenger automobile sales and manufacturing may all be attributed to these causes.

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Automotive Catalytic Converter Market Report Highlights

• The market is segmented into Four-way catalytic converter (FWCC), Diesel oxidation catalyst (DOC), Three-way catalytic converter (TWCC), Selective catalytic reduction (SCR), and Others, depending on the type. Because it is utilised in car exhaust systems in most regions of the world, the three-way catalytic converter category is projected to have the greatest market share.
• Due to the large number of automobiles sold in Asia-Pacific, the market is anticipated to develop quickly. In 2020, India and China sold a combined total of 22 million passenger vehicles. By the end of 2025, China is anticipated to have a considerable market share in the Asia-Pacific region. China is anticipated to replace the US as the world's largest market for passenger cars, opening up enormous opportunities for the automotive catalytic converter industry to develop.
• BASF discovered a technique in March 2020 that allows them to lower the price of a catalytic converter by substituting high-priced palladium with low-priced platinum while maintaining emission reduction capabilities.

AUTOMOTIVE CATALYTIC CONVERTER MARKET SEGMENTATION

The research report published by Market Research Strategy contains industry segments, as below-

Automotive Catalytic Converter Type Outlook (Revenue, USD Million, 2016 - 2027)

• Three-way oxidation-reduction catalytic converter
• Diesel oxidation catalytic converter
• Two-way oxidation catalytic converter

Automotive Catalytic Converter Catalyst Outlook (Revenue, USD Million, 2016 - 2027)

• Platinum catalyst
• Palladium catalyst
• Rhodium catalyst

Automotive Catalytic Converter Regional Outlook (Revenue, USD Million, 2016 - 2027)

• North America (U.S., and Canada)
• Europe (Germany, U.K., France, Italy, Spain etc.)
• Asia-Pacific (China, India, Japan, Indonesia, Malaysia, Australia, South Korea, etc.)
• South America (Brazil, Mexico, Argentina etc.)
• Middle East & Africa (Saudi Arabia, Kuwait, UAE, South Africa etc.)

List of Key Players- Automotive Catalytic Converter Market

• Yutaka Giken Company Limited
• Tenneco Inc.
• Sejong
• Sango Co. Ltd
• Marelli
• KATCON
• Hanwoo Industrial Co. Ltd
• Futaba Industrial Co. Ltd
• Faurecia
• Eberspacher
• Boysen
• BOSAL
• Benteler

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