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Catalytic converter is a device used in the exhaust system of an automobile for the removal of harmful gases such as carbon monoxide, nitrogen oxide and hydrocarbon from it. The catalytic converter also helps in improving the efficiency of vehicles.
The major driver for the growth of the Catalytic Converters Market Growth can be attributed to the introduction of stringent rules and regulations by the government of various nations worldwide with the objective of protecting the environment and preventing the hazardous effects of global warming. The increase in demand for automobiles is also driving the growth of the Catalytic Converters Market Growth. The huge investments made by the automobile manufacturers for research and development so as to reduce the effect of harmful gases emitted from the vehicles can also be associated with the growth of the market.
The Catalytic Converters Market Growth is expected to grow over the CAGR of around 7.5% during the period 2017 to 2023.
Key Players:
The key players of Catalytic Converters Market Growth are Faurecia SA (France), Benteler International AG (Germany), Eberspächer Group(Germany), Calsonic Kansei Corporation (Japan), Yutaka Giken Company Limited (Japan), Tenneco, Inc. (U.S.), Futaba Industrial Co., Ltd. (Japan), Sango Co., Ltd (Japan), Magneti Marelli S.p.A (Italy), Bosal International N.V. (Belgium) and others.
Study Objectives
- To provide detailed analysis of the market structure along with forecast for the next 5 years of the various segments and sub-segments of the global Catalytic Converters Market Growth
- To provide insights about factors affecting the market growth
- To analyse the global Catalytic Converters Market Growth based on various tools such as Supply Chain Analysis, and Porter’s Five Force Analysis
- To provide historical and forecast revenue of the market segments and sub-segments with respect to regions and their respective key countries
- To provide country level analysis of the market with respect to the current market size and future prospective
Regional Analysis
The Europe region is expected to dominate the Catalytic Converters Market Growth owing to the high presence of automobile manufacturers in the region. Rapid research and development activities along with the introduction of stringent emission norms such as Euro-VI is contributing to the growth of the Catalytic Converters Market Growth in the Europe region. The Asia-Pacific region is also expected to grow rapidly in the market as the developing nations of the region are emerging as a hub for the automobile manufacturers.
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