Catalytic Converter Market - Trends Forecast Till 2028

Catalytic Converter Market by Type (FWCC, TWCC, SCR, DOC, and LNT), Material (Platinum, Palladium, and Rhodium), Vehicle Type (Passenger Cars, LCV, Bus & Truck, Construction, and Agriculture & Mining), Aftermarket and Geography (North America, Europe, Asia-Pacific, Middle East and Africa and South America)

Published Date: November, 2021

Base Year Estimate: 2020

Report ID: D-AU-CCM-515

Format:  

Number of Pages: 453

Domain: Automotive

Catalytic Converter Market – Trends Forecast Till 2028

The catalytic converter market was valued at USD 12 billion in 2020, and it is expected to reach USD 18 Billion by 2026, registering a CAGR of more than 7% during the forecast period 2021-2028

Catalytic converter reduces the emissions in the automobiles by removing toxic compounds such as carbon monoxide, nitrogen oxide, and hydrocarbon from the exhaust system of vehicles.

The increasing demand for passenger cars along with the rising stringency in emission norms is the factor that has supported long-term expansion for Catalytic Converter Market.

The COVID-19 pandemic had a huge impact on the market, owing to the decrease in the number of new passenger and commercial vehicles sold across the world. With different restrictions implemented, even the aftermarket sales of the catalytic converter did not account for good business in 2020. However, with the projected increase in preference for individual mobility, the market expects to grow back to normal economic conditions post-pandemic.

Catalytic Converter Market Report

Asia Oceania has the largest market share of vehicle production with about 54–56% of the total vehicle production. China, India, and Japan are the largest vehicle production hubs because of rising urbanization, increasing GDP, and industrialization among others. With the growing vehicle production, vehicle emissions have also increased significantly.

Catalytic Converter Market is segmented into catalytic converter type, aftermarket vehicle type, off-highway vehicle type, material, aftermarket and region.

On the basis of Type

  • Three-way catalytic converter (TWCC)
  • Four-way catalytic converter (FWCC)
  • Diesel oxidation catalyst (DOC)
  • Selective catalytic reduction (SCR)
  • Lean NOx trap (LNT)

On the basis of Material

  • Palladium
  • Platinum
  • Rhodium
  • Others (Ruthenium, Iridium, Zeolites, and Vanadium)

On the basis of Vehicle Type

  • Passenger car
  • Light commercial vehicle
  • Truck
  • Bus

On the basis of Aftermarket, Vehicle Type

  • Passenger car
  • Light commercial vehicle
  • Heavy commercial vehicle

On the basis of Off-highway, Vehicle Type

  • Agricultural Tractors
  • Construction Equipment
  • Mining Equipment

On the basis of Region

  • Asia Pacific
  • North America
  • Europe
  • South America
  • Middle East & Africa

Insights are provided for each region and major countries within the regions

Catalytic Converter Market Primary Respondent

 

Key Players

  • Faurecia SA
  • BASF Catalysts LLC
  • Eberspaecher GmbH Holding & Co.
  • Magneti Marelli S.P.A
  • Tenneco Inc.
  • Benteler International AG
  • Calsonic Kansei Corporation
  • Standard Motor Products Europe Ltd.

Recent Developments

  • In March 2021, Eberspaecher started a new plant for exhaust technology with an area of 21,000 square meters in Ramos Arizpe, Mexico. With this plant, the company aims to increase the production of exhaust systems with improved efficiency and lesser harmful emissions.
  • Air Liquide and Faurecia announce the signature of a joint development agreement to design and produce on-board liquid hydrogen storage systems for the automotive industry. Through this technology partnership, the two companies will accelerate the deployment of zero-emission heavy-duty mobility.

Reasons to Acquire

  • Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
  • Gain authentic and granular data access for Catalytic Converter Market so as to understand the trends and the factors involved behind changing market situations
  • Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
  • In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope

 

Report Feature

Descriptions

Growth Rate

CAGR of 7% during the forecasting period, 2021-2026

Historical Data

2018-2019

Forecast Years

2021-2028

Base Year

2020

Units Considered

Revenue in USD billion and CAGR from 2021 to 2026

Report Segmentation

converter type, vehicle type, off-highway vehicle type, material, aftermarket and region.

Report Attribute

Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling

Regional Level Scope

North America, Europe, Asia-Pacific, South America, and Middle East and Africa

Country Level Scope

U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe)

Companies Profiled

Faurecia SA, BASF Catalysts LLC, Eberspaecher GmbH Holding & Co., Magneti Marelli S.P.A, Tenneco Inc., Benteler International AG, Calsonic Kansei Corporation and Standard Motor Products Europe Ltd.

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