Global Catalytic Converter Market, By Type (Three-Way Catalytic Converter (TWCC), Four-Way Catalytic Converter (FWCC), Diesel Oxidation Catalyst (DOC), Selective Catalytic Reduction (SCR) and Lean NOx Trap (LNT)), Material (Palladium, Platinum, Rhodium and Others), Vehicle Type (Passenger Car, Light Commercial Vehicle and Heavy Commercial Vehicle), Off-Highway Vehicle Type (Agricultural Tractors, Construction Equipment and Mining Equipment), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia Pacific, South Africa, Saudi Arabia, U.A.E, Israel, Egypt, Rest of Middle East and Africa) Industry Trends and Forecast to 2029.
Market Analysis and Insights : Global Catalytic Converter Market
Data Bridge Market Research analyses that the catalytic converter market would exhibit a CAGR of 8.12% for the forecast period and is expected to reach USD 89.42 billion by the year 2029. The expansion of the catalytic converter market is being attributed to the current focus on emission control from environmental checkpoints, according to the report. In the forecasted time frame of 2022 to 2029, the strong emphasis on emission evacuation and its innovation for producing additional efficient fuel systems would accelerate the catalytic converter market growth.
Catalytic Converter are specifically developed to decrease the probability of accidents while also improving traffic control and monitoring. Catalytic Converter can make it easier for cars to move between different means of transportation, such as ships, marine, inland water, streets, ports, roads and civil aircraft. It enables fleet managers to improve productivity by efficiently planning routes, providing traffic updates and predicting departure and arrival times. They can reduce carbon emissions, hence are considered more beneficial to the environment.
Catalytic converter market expansion has been accelerated by increased demand for cars and automobiles around the world. The growing demand for automobiles in developing markets will propel the company forward.
The catalytic converter market will benefit from an increase in the proportion of passengers and commuters who choose cars and vehicles.
However, a few limitations, such as the increase in sales of battery-operated automobiles and trucks, may stymie industry expansion. High maintenance costs and high replacement costs will stifle market expansion in the forecasted time frame.
This catalytic converter market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on catalytic converter market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Catalytic Converter Market Scope and Market Size
Catalytic converter market is segmented of the basis of type, material, vehicle type, off-highway vehicle. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of type, catalytic converter market is segmented into three-way catalytic converter (TWCC), four-way catalytic converter (FWCC), diesel oxidation catalyst (DOC), selective catalytic reduction (SCR), lean nox trap (LNT).
- On the basis of material, catalytic converter market is divided into palladium, platinum, rhodium, others. Others are further sub segmented into ruthenium, iridium, zeolites, and vanadium.
- On the basis of vehicle type, catalytic converter market is fragmented into passenger car, light commercial vehicle, heavy commercial vehicle.
- On the basis of off-highway type catalytic converter market is bifurcated into vehicle, agricultural tractors, construction equipment, mining equipment.
Catalytic Converter Market Country Level Analysis
The global catalytic converter market is analysed and market size insights and trends are provided by country, type, material, vehicle type, off-highway vehicle as referenced above.
The countries covered in the catalytic converter market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), South Africa, Saudi Arabia, U.A.E, Israel, Egypt, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Due to rising car production and demand from an urbanising population, Asia-Pacific (APAC) is expected to dominate the catalytic converter market in the foreseeable time frame. Due to rigorous pollution regulations and great adoption of cabs and cars by commuters, North America and Europe will follow the footprints in second line.
The country section of the catalytic converter market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Catalytic Converter Market Share Analysis
The catalytic converter market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to catalytic converter market.
Some of the major players operating in the catalytic converter market report are Cisco Systems, Inc.; Teledyne FLIR LLC; Sumitomo Electric Industries, Ltd.; Seimens; SWARCO; LG CNS,; Kapsch TrafficCom AG; Cubic Corporation; Iteris, Inc.; JENOPTIK AG; Q-Free ASA; EFKON India Pvt. Ltd.; HARMAN International.; SNC-Lavalin; Citilog.; imtac; TransCore; PTV AG; and Global Traffic Technologies; Faurecia PVT. LTD., Tenneco LLC, Johnson Matthey, Eberspächer INC., among others.
SKU-