Skip to main content

Automotive Catalytic Converter Market to Record Sturdy Growth in the Coming Years

The mounting pressure of global warming and the harmful effects of environmental pollution on human life have accelerated the demand for automotive catalytic converters. The various types of converters used for reducing emissions from exhaust systems are two-way oxidation catalytic converter, diesel oxidation catalyst, and three-way oxidation-reduction catalytic converter. The flourishing automotive industry across the globe is also driving the automotive catalytic converter market as manufacturers are compelled to develop vehicles that adhere to renewed pollution and emissions control norms set by respective governments, reports Transparency Market Research.

According to the research report, the global automotive catalytic converter market was valued at US$105.59 bn in 2014 and is expected to reach US$172.80 bn by 2021, as the market expands at a CAGR of 7.3% between 2015 and 2021. The shifting focus on product innovation by integrating latest technologies to improve performance and minimize emissions will also fuel the rise of this automotive catalytic converters in the coming years. The exponentially rising sales of automobiles in developing regions of Asia Pacific, the Middle East and Africa, and Latin America are also going to have a direct impact on the sales of these converters during the forecast period.


Europe will be the leading regional segment in the global automotive catalytic converter market between 2015 and 2021. Stringent norms such as Euro V and Euro VI being enforced across Europe have become the driving forces for this regional segment to adopt advanced automotive catalytic converters. The strong presence of leading automotive catalytic converter manufacturers in the U.K. and Germany will also facilitate the growth of the Europe catalytic converter market in the near future.

The rising vehicle production and strengthening of the economy after the slump will also generate a sizeable demand for converters across Europe. In light of these market drivers, the Europe automotive catalytic converter market is expected to be valued at US$52.72 bn by 2021 as the market is poised to rise at a CAGR of 7.0% from 2015 and 2021.


The three-way oxidation-reduction catalytic converters are among the most widely used converters in gasoline engines as they have the ability to perform oxidation of hydrocarbons to carbon dioxide and water, oxidation of carbon monoxide to carbon dioxide, and conversion of nitrogen oxide to nitrogen and oxygen. Three-way oxidation-reduction catalytic converters have gained importance due to emission guidelines across the globe that mandate using these converters automobiles running on gasoline.

Owing to these reasons, the three-way oxidation-reduction catalytic converters segment is anticipated to reach US$67.78 bn by 2021 as compared to US$40.99 bn in 2014, as the segment expands at a CAGR of 7.5% between 2015 and 2021. On the other hand, diesel oxidation catalysts will also be an emerging segment as such converters will likely cater to the exclusive demands of diesel engines.



The key players in the global automotive catalytic converter market are ASF Catalysts LLC, Tenneco Inc., Eberspaecher GmbH Holding & Co. KG, Faurecia SA., and Magneti Marelli S.P.A. Product innovation and developing environmentally sustainable products will be the key focus of these companies during the forecast period. Moreover, companies are also designing products that meet prevailing safety standards to build a lasting brand image.

Comments

Popular posts from this blog

Global Thin Wafer Processing and Dicing Equipment Market - A cutting-edge technology, industry survey and new business opportunities 2024

Global Thin Wafer Processing and Dicing Equipment Market: Overview Rising demand for three dimensional integrated circuit used extensively across various miniature semiconductor devices is one of the important factor anticipated to boost the demand for thin wafer processing and dicing equipment in the coming years. Three dimensional integrated circuit are increasingly adopted across various space constrained applications including portable consumer electronic devices, sensors, MEMS and industrial products as it increases the overall performance of the products in terms of speed, durability, low power consumption, light weight and memory. Moreover, three dimensional integrated circuit also helps to reduce the area of consumption in a printed circuit board and in turn enables extensive cost reduction. Thin wafer of thickness 20 um – 50 um is an integral part of the three dimensional integrated circuit technology. Thus, anticipated increasing demand for three dimensional integra...

RFID Tags Market is Expected to Grow at the Highest CAGR During the Forecast Period

Key players in the  U.S. RFID tags market  are Atmel Corporation, HID USA Corporation, Invengo Information Technology Ltd. Co., and NXP Semiconductors N.V. Competition among them and among other players are expected to heat up further over the course of next few years as they try to expand their market shares both via the inorganic route of mergers and acquisitions and organic route of product development and diversification. A report on the market published by Transparency Market Research finds that it would rise at an 8.5% CAGR over the course of the forecast period starting from 2017 and ending in 2025. At this pace, the market which was valued at US$809.4 mn in 2016, will likely become worth US$1,672.5 mn by 2025-end. Get PDF Sample of This Report @  https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=24536 The two types of RFID tags available in the market are active and passive tags. Between the two, the demand for passive RFI...

Data Center Fabric Market: Comprehensive Evaluation Of The Market Via In-Depth Qualitative Insights

Fabric-based architecture supports the data center by eradicating the necessity of switch-to-switch interactions, multiple layers of devices and also the shared network protocols. It condenses the complication of a data center network and improves its efficiency. In a data center, fabric embodies interconnection of several servers, storage, and other ports for networking in an ultra-low latency set-up, which provides any-to-any connectivity, making each device only single hop away from every other device. Get PDF Sample of This Report @  https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=2227 Data center fabric market is driven by emerging technologies such as data center virtualization, cloud computing and big data analytics. Vendors in this market face challenges such as security issues and scalability in transparent bridging. One of the major opportunities in the market are for providing advanced data center fabric solutions that are more s...