Automotive Catalytic Converter Market (By Type: Diesel Oxidation Catalyst, Three-Way Oxidation-Reduction Catalytic Converter, Two-Way Oxidation Catalytic Converter; By Catalytic: Palladium, Platinum, Rhodium) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 – 2027

Acumen Research and Consulting estimates that global automotive catalytic converter market is expected to reach the market value of around US$ 190 Bn by 2027 and is anticipated to grow at a CAGR of around 7% in terms of revenue during the forecast period 2020 – 2027.

Auto catalytic converter reduces automobile emissions by eliminating harmful contaminants from vehicle exhaust systems, including nitrogen oxides, carbon monoxides, and hydrocarbons.

The report provides analysis of global Automotive Catalytic Converter market for the period 2016-2027, wherein 2020 to 2027 is the forecast period and 2019 is considered as the base year.

Market Insights

The global demand for auto catalytic converters has steadily expanded over the last few years, owing to technical advances. Market growth depends on the global automotive industry’s production. The demand for auto catalytic converters is therefore on the verge of rising with global automotive sales growth. Furthermore, the rise of strict emission standards throughout the world is key to the growth of the automotive catalytic converter market. Catalytic converters themselves may release harmful, environmentally damaging particles. The government has drawn up strict rules such as euro VI and euro V on vehicle emissions in different countries due to the impact of global warming and increased pollution. Due to these stringent directives, auto component manufacturers are now starting to produce environmentally friendly catalytic converters for domestic and international markets. 

Regional Stance

The Asia Pacific region emerged as largest catalytic converter region. 60% of the world's population lives in Asia Pacific and the largest sales of passenger cars are seen in countries such as China, Japan and India. Moreover, in countries such as India, China, and Indonesia, sales of motorcycles are the highest. In these two-wheelers and 4-wheelers, these catalytic converter systems are used to make Asia Pacific the leading area in the market for the automotive catalytic converter. In addition, there are a high number of local producers making car catalytic converters in the Asia Pacific. The Asia Pacific region remains dominant throughout its forecast period, with a growing economy and highly available income countries and increasing awareness about noise pollution and fuel consumption. Besides, the predominance of North American and European economies is expected to continue in the coming years to develop environmental issues and strict exhaust noise rules. In addition, car sales are expected to grow modestly in this region in the next few years.

Automotive catalytic converter market development Regulatory bodies play a key role

In the auto catalytic converter market, selective catalytic converters will gain a strong momentum with increasing strict rules and regulations implemented to minimize hazardous car emissions. Influenced by manufacturers in the car- catalytic converters industry to increase the production of fuel intensive and environmentally sustainable cars, new legislative bodies and government legislation on environmental protection have been introduced. Rapidly increasing environmental and public health concerns have driven governments around the world to implement strict carbon emission standards, thereby driving the car converter market.

Volatile prices and high technology costs are expected to limit the catalytic converter market in automobiles. Furthermore, the growth of the car catalytic converters industry will possibly be slowed by an growing number of electric vehicles as pure electric vehicles reduce the use of catalytic converters. Further impede the development of the automotive catalytic converters industry with advances in biofuels that reduce issues related to emissions.

Report coverage

The market research study on “Automotive Catalytic Converter Market (Automotive Catalytic Converter Market By Type: Diesel Oxidation Catalyst, Three-Way Oxidation-Reduction Catalytic Converter, Two-Way Oxidation Catalytic Converter; Automotive Catalytic Converter Market By Catalytic: Palladium, Platinum, Rhodium) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027” offers a detailed insights on the global Automotive Catalytic Converter market entailing insights on its different market segments.  

The global Automotive Catalytic Converter market is segmented as below:

Market Segmentation

Automotive Catalytic Converter Market By Type

Diesel Oxidation Catalyst

Three-Way Oxidation-Reduction Catalytic Converter

Two-Way Oxidation Catalytic Converter

Automotive Catalytic Converter Market By Catalytic

Palladium

Platinum

Rhodium

Automotive Catalytic Converter Market By Geography

North America

• U.S.
• Canada

Europe

• UK
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Mexico
• Brazil
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of MEA

Key Players and Market Situation

Participants include major global players such Benteler International AG, Faurecia SA, Tenneco Inc, Marelli S.P.A, Eberspaecher GmbH Holding & Co. KG, Clean Diesel Technologies, Inc., BASF Catalysts LLC, Others.