Press release
Automotive Catalyst Market Size, Demand, Technology Trends Analysis & Forecast to 2025
Factors such as emission control regulations by government and increase in the production of automobiles fuel the growth of the automotive market. Automobile manufacturers are producing vehicles with emission control technologies to meet the stringent regulations set to control pollution. However, rise in penetration and production of electric vehicles hinders the growth of the automotive catalyst market.
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In addition, high cost of platinum, palladium, rhodium, and other metals used as automotive catalysts restricts the growth of the market. Furthermore, government initiatives regarding emission control in the developing nations and innovation in emission technologies for fuel efficiency are anticipated to provide growth opportunities in the automotive catalyst market.
The key players operating in the global automotive catalyst market are BASF SE, Johnson Matthey, Umicore, Tenneco Inc., CDTi Advanced Materials, Inc., Cummins Inc., Eberspcher, Ecocat India Pvt. Ltd., Klarius Products Ltd., Clariant, and others.
Key Findings:
•The others segment in metal type generated the highest revenue in terms of revenue for the global automotive catalyst market in 2017.
•In 2017, gasoline segment was the highest revenue contributor in the engine category.
•The LAMEA region is anticipated to exhibit the highest CAGR during the forecast period.
•In 2017, the Asia-Pacific contributed the highest market revenue, followed by Europe, LAMEA, and North America.
Top Impacting Factors:
Emission control regulations by government-
The governments of several countries have established stringent regulation for pollutant gas emission from the vehicles because of combustion of fuels such as diesel fuel, fuel oil, petrol, gasoline, biodiesel, and others. Euro 6 is the latest emission regulation by European Union directive to reduce harmful gases such as carbon monoxide (CO), nitrogen oxide (NOx), hydrocarbons, and others from the exhaust system of the vehicle. Similarly, automotive catalyst is used in catalyst converter, an emission control device used to convert toxic and harmful gases from engines into less-toxic pollutants. The catalyst also adheres to the vehicle emission standards. Thus, strict emission standards by government fuels the growth of the automotive catalyst market.
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Increase in Automobile production-
The developing nations have witnessed a surge in demand and production of automobiles. For instance, India became the fourth largest automobile industry in the world with the increase in sales of 9.5% year-on-year to 4.2 million units. This rise in automobile production in developing nations automatically leads to increased production in demand for automotive catalysts for emission control devices in automobile exhaust systems. Therefore, increase in automobile production is anticipated to boost the growth of the automotive catalyst market.
Growth in production of electric vehicles-
In recent years, there is a significant increase in the demand and production of electric vehicles, as these vehicles have several advantages over fuel-powered automobiles. Components, such as fan belts, oil, air filters, head caskets, timing belts, cylinder heads, and spark plugs does not require replacement, which in return makes it cheaper and efficient compared to fuel-powered automobiles. This makes electric vehicle a preferred choice, which in return restraints the growth of the fuel-powered automobile markets. Thus, increase in production of electric vehicles hinders the growth of the automotive catalyst market.
Key Segments:
By Metal Type
•Platinum
•Palladium
•Rhodium
•Others
By Engine type
•Gasoline
o3-way
o4-way
•Diesel
oDiesel Oxidation Catalyst (DOC)
oDiesel Particulate Filter (DPF)
oSelective Catalytic Reduction (SCR)
By Vehicle
•Passenger Car
•Light Commercial Vehicle (LCV)
•Heavy Commercial Vehicle (HCV)
•Motorcycle
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About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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