HOME Research Insight Tenneco, Inc. (U.S.) and Faurecia SA (France) are the New Product Development in the Catalytic Converter Market

Tenneco, Inc. (U.S.) and Faurecia SA (France) are the New Product Development in the Catalytic Converter Market

Increasing stringency of vehicle emission regulations is one of the key factors driving the demand for the catalytic converter market. Other factors such as rising vehicle sales, production, and vehicle parc are positively influencing the demand for catalytic converters in the original equipment as well as the aftermarket. The catalytic converter market is projected to grow at a CAGR of 8.05% during 2016–2021, and is expected to reach USD 55.16 Billion by 2021.

Expansion is a key strategy adopted by major players to gain traction in the catalytic converter market. For instance, Faurecia SA (France) has established its new emission control technologies production facility in Brazil to manufacture exhaust components such as mufflers, catalytic converters, and diesel particulate filters.

New product development is the second most widely followed strategy. Eberspacher (Germany) developed a new technology called ‘Combi System,’ which combines the functions of Selective Catalytic Reduction (SCR) and Diesel Particulate Filter (DPF) in a single component. The technology would also help to increase efficiency and improve thermal management. Other companies that adopted the strategy of new product development include Tenneco, Inc. (U.S.) and Faurecia SA (France).

The catalytic converter market is dominated by a few global players and comprises several regional players. Faurecia SA (France) is a leading player in the global catalytic converter market. The company manufactures seats, vehicle interior, front end, and exhaust systems with manufacturing facilities in 38 countries worldwide. A diverse product portfolio along with a strong global presence helps the company maintain its leadership position in the market, keeping the revenue streams strong. The company has invested close to USD 1.1 Billion in R&D and has been focusing on new product development as its key strategy. Some of the new products developed by the company are Selective Catalytic Reduction (SCR) system with alternate ammonia storage and Blue Box SCR technology. It developed an SCR system with alternate ammonia storage, allowing efficient NOx conversion to reduce exhaust emissions in September 2014. The company also launched a new Blue Box SCR solution in November 2013. Presently, the company is a key supplier to OEMs from Europe, Asia, and North America such as BMW (Germany), Volkswagen (Germany), and Volvo Cars (Sweden) among others.

Eberspacher Group (Germany) is the second leading catalytic converter supplier worldwide. The company offers exhaust systems and related components under its exhaust technology segment. The company has a wide geographical presence. It is present in 25 countries with 65 different locations in all the key regions. It has adopted the expansion strategy to increase and sustain its presence in the automotive catalytic converter market. Eberspacher started a new exhaust technology factory for the manufacturing of catalytic converters and exhaust silencers in Oradea, Romania. The company also expanded its plants in the U.S., Portugal, and Germany. Its key clients include OEMs such as Ford (U.S.), Toyota (Japan), Daimler (Germany), Volkswagen (Germany), and BMW (Germany) among others. Eberspacher has also expanded its U.S. plant, designed for the production of exhaust systems for commercial vehicles. It is also focusing on the European market and expanded its Portugal plant in September 2016.

Related Reports:

Catalytic Converter Market by Type (Three-way Catalytic Converter, Selective Catalytic Reduction, Diesel Oxidation Catalyst, and Lean NOx Trap), Material (Platinum, Palladium, Rhodium), Region, and Aftermarket by Region - Global Forecast to 2021

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