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Catalytic Converter Market Research Report: Industry Share Analysis

Catalytic Converter Market Research Report: Industry Share Analysis

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)

Catalytic Converter Market Overview

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.

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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 Regional Analysis

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 Competitive Landscape

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.

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Catalytic Converter Market 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 in the Catalytic Converter Market

  • 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

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