The global emission control catalyst for motorcycle market is anticipated to expand at a steady 5.8% CAGR over the forecast period between 2021 and 2031, finds Future Market Insights (FMI). Rapid expansion of automotive industry across the globe is one of the major factor contributing to the growing sales of emission control catalysts for motorbikes.
Emission control catalysts are used in all types of internal combustion engines. Stringent emission regulations to reduce harmful greenhouse gases in the environment worldwide is pushing the sales of catalytic converters.
Increasing sales of scooters and motorbikes due to growing preference for accessible and cost-effective automobiles in developing economies will surge the demand of emission catalysts. Subsequently, rising motorcycle sales, coupled with growing production of motorbikes in India and China is fueling the sales for emission control catalysts in motorbikes.
Further, increasing need to meet the emission standard regulations has encouraged the manufacturers to focus on development of new technologies to adhere to the requirements. Hence, surging adoption of palladium, used in catalytic converters to remove harmful gases such as carbon monoxide from exhaust emission system is boosting the market.
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As per FMI, India is expected to be the most attractive emission control catalysts for motorcycle market across the globe. Growth is attributable to the burgeoning sales of scooters and motorbikes in the country, coupled with stringent norms to reduce the carbon emission.
Backed by the aforementioned factors, the global emission control catalyst for motorcycle market is projected to top US$ 5,396.2 Mn by 2031.
Key Takeaways:
By product type, demand for palladium based catalyst is expected to surge at a 5.7% CAGR over the forecast period.
By application type, motorbikes segment is projected to hold approximately 74.9% of the total market share in 2021.
Rhodium based catalyst segment is anticipated to grow at 6.2% CAGR through 2031.
Emission control catalysts for motorcycle market in the U.S. is anticipated to exhibit 4.4% CAGR by the end of 2031.
China will emerge as an attractive market for emission control catalysts for motorcycles, with sales growing at a 5.5% CAGR during the forecast period.
India is expected to account for over one-third of the global emission control catalyst for motorcycle market share in 2021.
“Over the forecast period, sales of emission control catalysts are expected to be driven by the growing automotive industry across the globe. Also, growing population has resulted in high demand and production of motorbikes and scooters across India, China, and other countries in South & East Asia. Hence, key manufacturers are eyeing these regions to capitalize on the growing demand.” says an FMI analyst.
Competitive Landscape
Key market participants in the global emission control emission for motorcycle market includes BASF SE, Johnson Matthey, Heraeus Holding, Solvay SA, Haldor Topsoe, Umicore, NGK Insulators Ltd., Corning Inc., Clariant AG, Mitsui & Co. Ltd, Cormetech, Nett Technologies Inc. and others.
Key players operating in the global emission control catalyst for motorcycle market are focusing on expanding their production capacities by setting up new manufacturing plants, especially across China and India.
They are also aiming for technological advancements for mass production of emission control catalysts.
For instance:
In March 2020, BASF SE announced that they have successfully developed an innovative Tri- Metal catalyst that enables partial substitution of high priced palladium with lower priced platinum in vehicles.
In Sept 2018, Heraeus Precious metals opened advanced precious metals factory in China. The new facility will enhance the company’s capacity to refine and recycle precious metals especially platinum which is used as emission and process catalyst for automotive industry.
More Insights into the Emission Control Catalyst for Motorcycle Market Report
In its latest report, FMI offers an unbiased analysis of the global emission control catalyst for motorcycle market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of product type (palladium based catalyst, rhodium based catalyst, platinum based catalyst, other), application (motorbikes, scooters) and end use (OEM, retrofit) across ten countries & regions (North America, Latin America, Western Europe, Eastern Europe, China, Japan, South Korea, India, South East Asia and Middle East & Africa).
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