According to a new
market report published by Transparency Market Research “Automotive
Catalytic Converter Market - Global Industry Analysis, Size, Share,
Growth, Trends and Forecast, 2015 - 2021,” Global
Automotive Catalytic Converter Market was valued at US$105.59 bn in
2014, growing at a CAGR of 7.3% from 2015 to 2021 to account for
US$172.8 bn in 2021.
This market research
study analyzes the automotive catalytic converter market on global
basis and provides estimates in terms of revenue (USD billion) from
2015 to 2021. It identifies the drivers and restraints affecting the
industry and analyzes their impact over the forecast period.
Moreover, it highlights the significant opportunities for market
growth in the next six years.
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Research Report of Automotive Catalytic Converter Market :
With the
advancements in technology, there has been a considerable growth in
the automotive catalytic converter market globally. Stringent
emission norms such as Euro V and Euro VI have put a restriction to
the use of exhaust systems that are harmful to the environment. This
has made automobile manufacturers improvise on their exhaust systems
and bring in application of advanced technology and innovation to
their products in order to reduce automobile emission in the
environment. Innovative catalytic converters such as two-way and
three-way catalytic converters are extensively being used and largely
demanded by automobile manufacturers because of their greater
performance and reduced emission quality. Four-way catalytic
converters are still in the testing phase and are expected to be much
more efficient and environment friendly as compared to the other
existing automotive catalytic converters.
The growth in the
global automotive catalytic converter market is directly related to
the growth of the global automobiles market. Therefore, with the
increasing sales of automobiles globally, the demand for automotive
catalytic converter is set to grow. In regions such as Asia Pacific,
Middle East and Africa (MEA), and Latin America; an immense rise in
the usage of passenger vehicles is expected over the forecast period,
which is set to bolster the growth of the automotive catalytic
converter market.
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Report :
Increasing stringent
emission norms across the globe is the major reason driving the
growth of the global automotive catalytic converters market.
Catalytic converters emit hazardous particles that are harmful to the
environment. Due to the rising pollution and global warming effects,
the governments of various countries have laid down strict guidelines
relating to automobile emission. Therefore, the stringent emission
guidelines have forced the automotive component manufacturers to
manufacture environment friendly catalytic converters for domestic
and international markets. Two-way oxidation catalytic converter,
three-way oxidation-reduction catalytic converter and diesel
oxidation catalyst are heavily in demand due to their reduced
emission property.
In the coming years,
hybrid and electric vehicles market are expected to gain momentum.
This is going to have an adverse effect on the global automotive
catalytic converters market. Electric vehicles do not come equipped
with catalytic converters as there are no means of emission in such
vehicles. Therefore, the gaining popularity and rising demand for
electric vehicles are set to inhibit the catalytic converters market
during the forecast period from 2015 to 2021.
The market is
segmented on the basis of geography into Europe, North America, Asia
Pacific, Middle East and Africa (MEA), and Latin America. These
segments have been estimated in terms of revenue (USD billion). In
addition, the report has been segmented based on type, which
includes, two-way oxidation catalytic converter, three-way
oxidation-reduction catalytic converter and diesel oxidation
catalyst. In addition, the report is also segmented by material that
includes platinum, palladium and rhodium.
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Release of Automotive Catalytic Converter Market :
For better
understanding of the automotive catalytic converter market, the study
comprises market attractiveness analysis, where the types are
benchmarked based on their market scope, growth rate and market
attractiveness.
The report also
provides company market share analysis of the various industry
participants. Key players have been profiled and their company
overview, financial overview, business strategies and recent
developments have been covered in the report. Major market
participants profiled in this report include: Magneti Marelli S.P.A.,
Faurecia SA, Tenneco Inc., Benteler International AG, Eberspaecher
GmbH Holding & Co. KG, BASF Catalysts LLC, Calsonic Kansei
Corporation and Clean Diesel Technologies, Inc. among others
The automotive
catalytic converter market has been segmented as:
Global Automotive
Catalytic Converter Market: By Type
Two-way oxidation
catalytic converter
Three-way
oxidation-reduction catalytic converter
Diesel oxidation
catalyst
Global Automotive
Catalytic Converter Market: By Material
Platinum
Palladium
Rhodium
Global Automotive
Catalytic Converter Market: By Geography
North America
US
Canada
Mexico
Europe
UK
Italy
Spain
France
Germany
Rest of Europe
Asia Pacific
APEJ
China
India
Oceania (Australia
and New Zealand)
Rest of APEJ
Japan
Middle East and
Africa (MEA)
Saudi Arabia
UAE
Egypt
South Africa
Rest of MEA
Latin America
Brazil
Argentina
Others
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employs rigorous primary and secondary research techniques in
developing distinctive data sets and research material for business
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