Global “Automotive Catalytic Converter Market” Report 2021 (value and volume) by company, regions, product types, end industries, history data and estimate data. Also, Report contains a comprehensive analysis of the important segments like market opportunities, import/export details, market dynamics, key manufacturers, growth rate, and key regions. This report focuses on the Automotive Catalytic Converter in the Global market, especially in the United States, Europe, China, Japan, South Korea, North America, India. Automotive Catalytic Converter Market report categorizes the market based on manufacturers, regions, type, and application. Automotive Catalytic Converter Market reports offer a detailed assessment of the Automotive Catalytic Converter including enabling technologies, current market situation, market assumptions, restraining factors.
The Global Automotive Catalytic Converter market swot is provided for the international markets including progress trends, competitive landscape breakdown, and key in regions development status. Development policies and plans are discussed as well as manufacturing processes and cost structures are also analyzed.
The global automotive catalytic converter market is expected to register a CAGR of around 5%, during the forecast period. Some of the major factors driving the growth of the market are enactment of stringent emission norms, and growing automotive industry in Asia-Pacific region, especially in countries, such as India, China, Thailand, and Japan. However, the growing penetration of electric vehicles is expected to hinder the growth of the market.
Catalytic converters are used to reduce exhaust emissions from ICEs. They convert exhaust emission, such as CO, HC, and NOx into less harmful gases, such as CO2 and N2, and also H2O. Two ways converters were installed in vehicles prior to 1990s but, since they do not reduce nitrogen emissions, three ways converters came into picture. Since then, three ways converters have occupied the highest market share and are expected to continue dominating the industry during the forecast period too.
Enactment of Stringent Emission Norms
The demand for and adoption of catalytic converters in the automotive industry has been consistently increasing with the growing automotive industry. With the growing environmental and health concerns and, the government across the world are enacting stringent emission norms to control and reduce carbon emissions.
In 2013, in the United States, carbon dioxide emissions averaged 369 grams per mile, which were down by 7 grams per mile from the 2012 figure. As per the US EPA, for 2014, 2015, and 2016, adjusted CO2 emission values went down to 369 g/mile, 361 g/mile, and 359 g/mile, respectively. This standard further reduced the emission standard to 352 g/mile (preliminary) for the vehicles for MY 2017.
The US EPA and NHTSA are taking initiatives to support the production of environment-friendly vehicles, (from passenger vehicles to commercial vehicles), to ensure improved fuel economy and reduced carbon emissions. Through these initiatives, the government is planning to reduce about 3,100 million metric tons of CO2 emissions and save about 6 billion barrels of oil by 2025.
Additionally, the EU has also set emission standards to regulate the CO2 emission levels of passenger cars and commercial vehicles. Transport emissions have increased in recent years and now account for around one quarter of the EUs total GHG emissions. The average carbon emissions, based on laboratory tests, of a new car registered in the EU in 2016 was 118.1 grams per kilometre (g/km), well below the 2015 target of 130 g. As a result, the European Commission, European Parliament, and EU member states are preparing to extend the light-duty vehicles CO2 regulation to 20252030. Consequently, to meet the aforementioned standards, the adoption of catalytic converters is increasing and is expected to witness the same trend during the forecast period.
Platinum Accounts for the Largest Market in Material Type
The PGMs that include platinum, palladium, and rhodium are the most widely used catalysts in automotive catalytic converters. Out of the global platinum demand ~40% of the demand arises from the automotive industry for the usage in the catalytic converter. Owing to its excellent resistance to corrosion even at high temperatures and high catalytic performance, it is being extensively used in the automotive catalytic converters.
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The global Automotive Catalytic Converter market covers the vision of participant analysis by product types, market share, applications, sales, and revenue.
Automotive Catalytic Converter Market Report covers the Top Key-players in 2021:-
- Doosan Fuel Cell
- Plug Power
- Watt Fuel Cell
- Bosch Thermotechnology
- Electroc Power systems
- Beijing Sinhoytec
Highlighted points of Automotive Catalytic Converter Market Size:
- Covers the varying market dynamics of the industry.
- In-depth analysis of market risks, opportunities, limitations, and growth of the market.
- Includes market driving and restraining factors.
- Participants profiles along with product description, overview, and business data.
- Include details of five years of forecast analysis by types, regions, and applications.
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This Automotive Catalytic Converter Market Research/analysis Report Contains Answers to your following Questions
- Which Manufacturing Technology is Used for Automotive Catalytic Converter? What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
- Who Are the Global Key Players in This Automotive Catalytic Converter Market? What’s Their Company Profile, Their Product Information, Contact Information?
- What Was Global Market Status of Automotive Catalytic Converter Market? What Was Capacity, Production Value, Cost and PROFIT of Automotive Catalytic Converter Market?
- What Is Current Market Status of Automotive Catalytic Converter Industry? What’s Market Competition in This Industry, Both Company, and Country Wise? What’s Market Analysis of Automotive Catalytic Converter Market by Taking Applications and Types in Consideration?
- What Are Projections of Global Automotive Catalytic Converter Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What About Import and Export?
- What Is Automotive Catalytic Converter Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
- What Is Economic Impact On Automotive Catalytic Converter Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
- What Are Market Dynamics of Automotive Catalytic Converter Market? What Are Challenges and Opportunities?
- What Should Be Entry Strategies, Countermeasures to Economic Impact, Marketing Channels for Automotive Catalytic Converter Industry?
Key Developments in the Automotive Catalytic Converter Market:
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Finally, the report Global Automotive Catalytic Converter Market 2021 describes the Automotive Catalytic Converter industry expansion game plan, the Automotive Catalytic Converter industry knowledge supply, appendix, analysis findings, and the conclusion.
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