Automotive Catalytic Converter Market is anticipated to grow at a CAGR of 8.9% by 2026

The global Automotive Catalytic Converter market was valued at USD 152.6 billion in 2017 and is anticipated to grow at a CAGR of 8.9% during the forecast period according to the new study published by Polaris Market Research.

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Catalytic converter is a vehicle emissions control device, which converts toxic by-products of combustion to lesser toxic substances through catalysed chemical reactions. Though these converters are majorly designed for exhaust systems in automobiles, they can also be modified for use in trucks, buses, forklifts, mining equipment, generator sets, locomotives, motorcycles, and airplanes.

The demand for automotive catalytic converter has increased over the years owing to rising demand for efficient vehicles, and growth in the global automotive industry. Growing regulations regarding fuel efficiency and emissions further boosts the Automotive Catalytic Converter Market growth. The increasing advancements in technologies and rising investments in R&D and technological innovation further supplement the growth of this market. Increase in disposable income, and improving living standards would encourage consumers to invest in motor vehicles, thereby supporting market growth.

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The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Automotive Catalytic Converter Market, 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, Asia-Pacific, Latin America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.

The North America Automotive Catalytic Converter Market generated the highest revenue in 2017 owing to increasing regulations regarding vehicular emissions, and growing environmental concerns. High disposable income, and improved living standards in the region support market growth. Technological advancements in the region, along with presence of leading market players is expected to boost the adoption of Automotive Catalytic Converter in North America.

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Competitive Landscape and Key Vendors

The global Automotive Catalytic Converter market is characterized by the presence of well-diversified international and small and medium-sized vendors. These companies are consistently launching new products to enhance their offerings in the market. With the advancement of technologies, companies are innovating and introducing new customized products to cater the growing needs of the customers. Leading companies are also acquiring other companies, and enhancing their product offerings to improve their market reach. Acquisitions enable key players to increase their market potential in terms of geographic expansion and expansion of customer base.

Magneti Marelli S.P.A.,

Faurecia SA,

Sango Co.Ltd.,

Benteler International AG,

Futaba Industrial Co. Ltd.,

BASF Catalysts LLC,

European Exhaust and Catalyst Ltd,

Deccats, Yutaka Giken Co. Ltd., and

Calsonic Kansei Corporation.

Key Segments

Type

Two-Way Oxidation Catalytic Converter

Three-Way Oxidation-Reduction Catalytic Converter

Diesel Oxidation Catalytic Converter

Catalyst

Platinum

Rhodium

Palladium

Others

Vehicle Type

Passenger Vehicles

Consumer Vehicles

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Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises.