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Catalytic converter market is to reach of USD 55.16 Billion by 2021 By Aaron Smith

  in Automotive | Published 2019-02-13 11:33:21 | 18 Reads | Unrated

Summary

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.

Full Content

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 foreca

st period is 2016 to 2021.

Read Report Overview –

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

The Key Players of Catalytic Converter Market Are:

The catalytic converter market is dominated by a few global players and comprises several regional players.  Some of the key manufacturers operating in the market are Faurecia SA (France), Tenneco, Inc. (U.S.), Eberspacher Group (Germany), Benteler International AG (Germany), and Magneti Marelli S.p.A. (Italy).

Regional Analysis:

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.

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.

Free PDF Sample Report –

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=128255548

The market for Palladium-based catalytic converters is estimated to witness the fastest growth in the catalytic converter materials market

Palladium is used as an oxidation catalyst in the Three-way Catalytic Converter (TWC) and Diesel Oxidation Catalyst (DOC). As palladium is cheaper as compared to platinum, most of the gasoline catalytic converters are now based on palladium. The additional advantages of palladium are that it is the strongest among the Platinum Group Metals (PGM), in terms of capturing the oxygen atoms, and it is more reactive at higher temperatures, thus, providing better oxidation. Also, as mentioned, palladium is used in TWC, which is the leading catalytic converter, in terms of volume.

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 Organization International des Constructeurs 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.

About MarketsandMarkets™ –

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their pain points around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 Micro Quadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets flagship competitive intelligence and market research platform, “Knowledge store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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