Catalytic Converter Market

The catalytic converter market is driven by factors such as stringent emission and fuel efficiency regulations around the globe as well as rising vehicle production, sales, and parc. The catalytic converter market was estimated to be USD 37.45 Billion in 2016, and is projected to grow at a CAGR of 8.05% during the forecast period. The base year considered for the study is 2015, and the forecast period is 2016 to 2021.

Objectives of the Study:

• To analyze and forecast (2014–2021) the market size, in terms of volume (‘000 units) and value (USD million), of the automotive catalytic converter market
• To define, describe, and project the automotive catalytic converter market by catalytic converter type (Three-way catalysts, Selective Catalytic Reduction (SCR), Diesel Oxidation Catalyst (DOC), and Lean NOx Trap (LNT))
• To define, describe, and project the automotive catalytic converter market by material type (platinum, palladium, rhodium, and others)
• To define, describe, and project the automotive catalytic converter aftermarket by region (Asia-Oceania, North America, Europe, and Rest of the World) and vehicle type (passenger cars, light commercial vehicles, and heavy commercial vehicles)
• To understand the market dynamics, and the impact of market dynamics on the catalytic converter market, market ranking analysis of key catalytic converter manufacturers, and profiles of the top 10 catalytic converter manufacturers

To know about the assumptions considered for the study, download the PDF brochure

Target Audience

• Manufacturers of the automotive catalytic converter
• Raw material manufacturers of automotive catalytic converter components (suppliers for Tier I)
• Traders, distributors, and suppliers of automotive catalytic converter components or raw materials
• Regional manufacturer associations
• Automotive OEMs
• Organised and unorganised aftermarket suppliers
• Automotive catalytic converter recyclers
• Government’s national and regional environmental regulatory agencies or organizations

“Selective Catalytic Reduction (SCR) is projected to be the largest catalytic converter type”

SCR is projected to dominate the catalytic converter market, in terms of value, by 2021. SCR is commonly used in diesel fueled vehicles. Asia-Oceania and Europe are the leading regions with the highest number of diesel powered vehicles, and hence, these regions are leading the global SCR market. Additionally, Europe has implemented the Euro 6 regulations, in which NOx emission limits have been reduced to 0.08 g/kWh (light-duty diesel vehicles) from 0.18 g/kWh in Euro 5. This is close to 97% reduction, as compared with the 1990 NOx limits. Countries such as India and China, who are leaders in global vehicle production, also have plans to upgrade their regulations equivalent to Euro 6 by 2020. This would drive the demand for SCR in these markets, as the technology has benefits over its peer Lean NOx Trap (LNT).

“Asia-Oceania region is the leading market in terms of catalytic converter demand”

Asia-Oceania is estimated to dominate the catalytic converter market for the automotive industry, as the region represents countries such as China, Japan, South Korea, and India with the world’s highest vehicle production. According to the Organisation Internationale des Constructions d Automobiles (OICA) publication, these countries together contributed ~48% to the global vehicle production in 2015. Additionally, Asia-Oceania has created promising opportunities for automobile manufacturers and automotive component suppliers.

Also, countries like China and India have plans to upgrade their emission regulations by 2020. For instance, India is planning to skip BS V regulations by leapfrogging to BS VI. This is a positive development for catalytic converter manufacturers. Additionally, the number of vehicles on the road is increasing owing to the improving road infrastructure, consumer awareness regarding vehicle maintenance, and stringent fuel economy norms. This would influence the catalytic converter aftermarket.

Source:

https://www.marketsandmarkets.com/Market-Reports/catalytic-converter-systems-market-128255548.html

https://www.marketsandmarkets.com/PressReleases/catalytic-converter-systems.asp