Global Automotive Catalytic Convertor Market Industry Trends, Estimation & Forecast, 2018 - 2025

Increasing demand for automotive catalytic converters is increasing due to stringent emissions standards. Non-hazardous particles emitted by less productive catalysts increase the level of high pollution and have a negative impact on nature. Concerns about global warming and the impact of carbon absorption in various countries in this way affected the government's approval of stringent emission standards that had a positive impact on the catalytic converter market of automobiles.
As the global car industry becomes more sophisticated, there is a growing demand for automotive catalytic converters. Researchers expect the demand of these converters to grow in the coming years as the production of vehicles grows. In the same way, accelerating the development of industries that guarantee the propulsion panels to reduce emissions of vehicles will accelerate the sales of the automotive catalysts market in the coming years.

Improvement in the lifestyles of developing countries in Asia-Pacific, such as China and India, it is expected that the penetration of the car will grow and lead to the growth of the automobile industry in the region. It is expected that the rise of the automobile industry due to stringent emissions standards will drive the growth of the automotive catalytic converters market in the region. It has been certified for the presence of forthcoming emissions regulations, such as various automobile manufacturing facilities, current emission standards for R&D and Euro-V and Euro-VI.

Automotive Catalytic Converter Market size is anticipated to reach over USD 286.2 Billion by 2025 with a CAGR of 8.21%. The three-way oxidation-reduction catalytic converter is expected to lead the global market during the forecast period 2019 - 2025.

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The automotive catalytic converter market has further been segmented based on materials such as platinum, palladium, and rhodium. The study provides a forecast and estimates market for each material in terms of revenue and volume during the forecast period from 2018 to 2025. Each material has been further analyzed based on regional and country levels from 2018 to 2025 in terms of volume and revenue.

Improvement in the lifestyles of developing countries in Asia-Pacific, such as China and India, it is expected that the penetration of the car will grow and lead to the growth of the automobile industry in the region. It is expected that the rise of the automobile industry due to stringent emissions standards will drive the growth of the automotive catalytic converters market in the region. It has been certified for the presence of forthcoming emissions regulations, such as various automobile manufacturing facilities, current emission standards for R&D and Euro-V and Euro-VI.

Due to the presence of large car manufacturers, the European region has taken over the industry. The demand for top quality European brands such as Volkswagen, BMW, and Mercedes-Benz have led to the growth of the automotive industry in the region. The European market has acquired more than 30% of the world market share and is expected to decline gradually over the next decade.

Competitive landscape of the overall market with company profiles of players such as Magneti Marelli S.P.A., Faurecia SA, Tenneco Inc., Benteler International AG, Eberspaecher GmbH Holding & Co. KG, BASF Catalysts LLC, Calsonic Kansei Corporation, Clean Diesel Technologies, Inc.

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This release was published on openPR.