The report "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 Region - Global Forecast to 2025", is estimated to be USD 42.4 billion in 2018 and projected to reach USD 73.1 billion by 2025, at a CAGR of 8.10%. The increasing vehicle production and stringency in emission norms are expected to drive the catalytic converter market.
Browse 156 market data Tables and 64 Figures spread through 211 Pages and in-depth TOC on "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 Region - Global Forecast to 2025"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/catalytic-converter-systems-market-128255548.html
The main reason for driving the passenger car segment is the maximum share of passenger cars in global vehicle production. The increasing demand for passenger cars along with rising stringency in emission norms would further fuel the demand for catalytic converters, especially in the European and North American countries. For instance, Euro 6 and EPA Tier 3 norms executed for passenger cars demand a 100% DOC deployment. LNT has a limited installation in both these regions due to its mediocre performance against SCR for NOₓ reduction. Alternatively, the demand for SCRs is getting prominent in developed countries to comply with existing emission standards for NOₓ gases. Additionally, countries in Asia Oceania such as Japan and South Korea have a significant share of these catalytic converter devices in passenger cars owing to the maximum share of D, E, and F-segment cars (~57–60% for both countries) usually offered with these technologies.
SCR reduces the NOx content in the exhaust gas and uses ammonia as a reduction agent. Initially, this technology was limited to heavy-duty engines, but it is also being used in LCVs and passenger cars these days. Increased use of commercial vehicles in emerging economies due to improved road infrastructure design and supply chain has triggered the growth of the replacement market for SCRs. The highest penetration rate for SCRs can be observed in Europe, followed by North America and Asia Oceania. New emission regulations in emerging and developed countries are boosting the market for SCRs. OEMs such as Volkswagen and Ford have decided to shift from LNT to SCR gradually. Also, SCR is widely used in HCVs, and its penetration is increasing in LCVs and passenger cars.
Palladium is primarily used for catalytic converter applications. Considering the current and historic cost advantage of palladium, gasoline catalytic converter technology is now almost exclusively palladium-based. Therefore, the market for palladium has thrived. Further, given the cost advantage of using palladium over platinum, there is a demand for developing technologies that use palladium.
Asia Oceania has the largest market share of 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. Considering this, few countries such as China, Japan, and India have implemented vehicle emission norms. For instance, China and India are currently running on China IV and BS IV, respectively. However, they are planning to implement China VI and BS VI by 2020, which is equivalent to Euro VI. Moving toward strict emission norms will create a huge demand for various aftertreatment devices. In Asia Oceania, China and Japan are the leading countries for the catalytic converter market, by aftertreatment device.
The catalytic converter market is dominated by the global players and comprises several regional players. Some of the key players in the catalytic converter market are Faurecia (France), Tenneco (US), Continental (Germany), Eberspächer (Germany), Johnson Maththey (UK), Umicore (Belgium), Futaba (Japan), BAEF (Germany), CDTI Materials (US), and Benteler International (Austria).
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Shelly Singh
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441