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.
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The key players in the Catalytic Converter Market include – 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).
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.
- 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
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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.
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. Also, 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.
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The report provides a picture of the catalytic converter market across different verticals and regions. It aims at estimating the market size and future growth potential of the catalytic converter market, by type, by material type, and after market by region.
Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, SWOT analysis, recent developments, and key market strategies.
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