The Global Catalytic Converter Market was worth US$ 61.37 billion in 2024 and is anticipated to reach a valuation of US$ 92.15 billion by 2029 and is predicted to register a CAGR of 8.47% during 2024 to 2029.
As indicated by the specialists, catalytic converters utilized in vehicles can diminish hydrocarbon emissions by around 90%, carbon monoxide emanations by roughly 85%, and nitrous oxides by roughly 62%. The decrease in emanations by catalytic converters is driving the automatic catalytic converter market. In the worldwide vehicle industry, improvements in exhaust frameworks incorporate exhaust systems, manifolds, mufflers, pipes, and monolith designs. These designs decrease noise created by exhaust gases by utilizing sound absorbers with catalytic converters. This, in turn, essentially lessens vehicular emissions emphatically affecting nature, diminishing global warming.
The significant driver for the development of the global catalytic converter market can be ascribed to the introduction of stringent standards and guidelines by the legislature of different countries worldwide with the goal of ensuring the environment and forestalling the dangerous impacts of global warming. The expansion sought after for vehicles is additionally driving the development of the catalytic converter market. The tremendous ventures made by vehicle producers for innovative work in order to lessen the impact of destructive gases discharged from automobiles can likewise be related to the development of the market.
The increment in popularity of electric and hybrid automobiles and high R&D expenses hinder market development. However, each factor is anticipated to have its distinct effect available during the conjecture time frame.
The auto industry forecasts a huge loss of production units and revenue due to closings to combat the Covid-19 pandemic. Despite the difficult business environment, several automakers said they would not fire any permanent or temporary workers. Production is nearly stagnant as state governments have imposed closures and companies themselves have closed their factories to help break the chain of the coronavirus epidemic.
REPORT METRIC |
DETAILS |
Market Size Available |
2023 – 2029 |
Base Year |
2023 |
Forecast Period |
2024 - 2029 |
CAGR |
8.47% |
Segments Covered |
By Type, Catalyst, and Region. |
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
Market Leaders Profiled |
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., Clean Diesel Technologies Inc., BOSAL Group, Futaba Corporation, HJS Emission Technology GmbH & Co. KG, Jetex Exhausts Ltd.,, and Others. |
The two-way oxidation sector is foreseen to overwhelm the worldwide market in the forecast period, attributable to the rising item request by the vehicle segment.
Rhodium fragment is anticipated to develop considerably later on, inferable from the expanding adoption of catalytic converters by the vehicle segment. This sector has risen as the biggest fragment in terms of income. The rhodium market for vehicle catalytic converters is relied upon to dominate the market during the forecast period.
North America is foreseen to show a moderate pace of development in the catalytic converter market. Europe is the second biggest contributor in terms of volume and estimation of the worldwide catalytic converter market, attributable to the rising item request from the vehicle business. Asia Pacific catalytic converter market is anticipated to grow at a generous rate over the conjecture timeframe. This can be ascribed to the rising per capita pay, improved rural infrastructure, rising automobile manufacture, and quick interest in passenger vehicles from developing economies. Advancing economies and infrastructural advancement are driving the catalytic converters over the figure timeframe. The Middle East and Africa and Latin America are anticipated to show a drowsy pace of development over the estimated time span because of low customer spending.
The global catalytic conventer market is concentrated with well-established players . Key players in the market include 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., Clean Diesel Technologies Inc., BOSAL Group, Futaba Corporation, HJS Emission Technology GmbH & Co. KG and Jetex Exhausts Ltd.
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 2500
Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM
Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: [email protected]
Reports By Region