Catalytic converter market is projected to grow at a CAGR of 8.05%, to reach a market size of USD 55.16 billion by 2021.
Asia-Oceania region leads the catalytic converter market, owing to increasing vehicle production in countries such as China and India. Further, the vehicle production in these countries is projected to grow at>6.0% CAGR during the period of next five years.
This has led to the increased demand for catalytic converters in this region. To meet this demand, leading catalytic converter manufacturers such as Faurecia SA (France), Tenneco, Inc.
(U.S.), and Eberspacher Group (Germany) have set up their manufacturing plants in the region. Thus, owing to the presence of leading tier-1 manufacturers and OEMs, the Asia-Oceania region is estimated to be the largest catalytic converter market globally.
Additionally, the rising demand for gasoline fueled passenger cars is expected to have contributed towards the growth of this market.
Inquire For Complete Report Copy of 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 www.rnrmarketresearch.com/contacts/956232
The implementation of stringent emission norms globally and increasing vehicle production as well as parc are driving the catalytic converter original equipment (OE) market and aftermarket. Alternatively, growing demand for electric vehicles can undermine the demand for catalytic converters.
According to MarketsandMarkets analysis, passenger cars account for almost 74% of the total vehicle production globally. Therefore, the major demand for catalyst converters is generated by passenger car production.
In addition, the demand for passenger cars is increasing, especially in emerging countries such as China and India. the share of new gasoline-fueled passenger cars is increasing, as compared to diesel-fueled passenger cars.
Therefore, the catalytic converter market for passenger cars is the largest market globally. The growth of this market can be attributed to increasing production and growing consumer preference for passenger cars.
Target Audience Include Catalytic Converter Market Report:
- Manufacturers of the automotive catalytic converter
- Raw material manufacturers of automotive catalytic converter components (suppliers for Tier I)
- Traders, distributors, and suppliers of automotive catalytic converter components or raw materials
- Regional manufacturer associations
- Automotive OEMs
- Organized and unorganized aftermarket suppliers
- Automotive catalytic converter recyclers
- Government’s national and regional environmental regulatory agencies or organizations
“Catalytic Converter Market” spread across 164 pages, profiling 11 companies and supported with 90 tables and 61 figures is now available at www.rnrmarketresearch.com/contacts/?rname=956232
Top Companies Analyzed for Catalytic Converter Market are – Faurecia SA (France), Tenneco, Inc. (U.S.), Benteler International AG (Germany), Magneti Marelli S.p.A (Italy), Eberspacher Group(Germany), Futaba Industrial Co., Ltd.
(Japan), Calsonic Kansei Corporation (Japan), Sango Co., Ltd (Japan), Yutaka Giken Company Limited (Japan), Bosal International N.V. (Belgium).
Fundamental Key Point from Table of Content:
Stringent Emission & Fuel Efficiency Regulations Around the Globe to Fuel the Demand for Catalytic Converters
Rising Vehicle Production, Sales and PARC
Growing Demand for Electric Vehicles to Influence the Demand for Catalytic Converters in the Long Term
Nanoparticles for Catalytic Reduction
Flourishing Automotive Industry & Upcoming Emission Regulations in South Asia
Fluctuating Prices of Precious Group Metals
Catalytic Converter Theft
Porter’s Five Forces Analysis
Intensity of Competitive Rivalry
Threat of Substitutes
Threat of New Entrant
Bargaining Power of Buyers
Bargaining Power of Suppliers
Report at www.rnrmarketresearch.com/contacts/?rname=956232
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