“Pollutants from vehicles such as carbon monoxide and nitrogen oxides are poisonous; leading to smog and acid rain. Thus, automotive catalytic converters are used in vehicle exhaust system to control such emissions. A catalytic converter converts harmful exhaust emissions into less harmful emissions. The automotive catalytic converter market has shown immense growth in countries such as China, India, and Brazil, owing to upcoming emission norm. With stringent emission norms and increased vehicle production, demand for catalytic converter is increasing.
In this research study the automotive catalytic converter market is segmented into three major segments such as automotive catalytic converter market by type (Three Way Catalytic (TWC), Selective Catalytic Reduction (SCR), Diesel Oxidation Catalyst (DOC), Lean Nox Catalyst (LNC) and Lean Nox Trap (LNT)), material (platinum, palladium, rhodium, and others), and by region (key countries from North America, Europe, Asia- Oceania and rest of the world (RoW)). Key players in the automotive catalytic converter market have also been identified and profiled.
The growth in this market has been primarily propelled by stringent emission norms by the government. Increasing demand for light passenger vehicles and heavy-duty vehicles is also expected to drive the automotive catalytic converter market.
Asia-Oceania is estimated to be the largest growing market for automotive catalytic converter market. Japan and China are the main contributors to the growth of automotive catalytic converter market in the Asia-Oceania region.
The report also provides a comprehensive review of market drivers, restraints, opportunities, challenges, and key issues in the global automotive catalytic converter market. Key players in the market for automotive catalytic converter have also been identified and profiled. Apart from quantitative analysis of these markets, the report also covers qualitative aspects such as value chain analysis, PEST analysis, and Porter鈥檚 Five Force analysis for the global automotive catalytic converter market.
The automotive catalytic converter market is dominated by few major players with many other small/medium players. Few of the key players include Faurecia SA (France), Benteler International AG (Germany), Tenneco Inc. (U.S.), Magneti Marelli S.p.A. (Italy), and Eberspaecher GmBH Holding & Co. KG (Germany). The major strategy adopted by these key market players has been region-wise expansion and new product development.
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