Automotive Catalytic Converter Devices Market: Share, Growth, and Key Trend Analysis through 2018 - 2027

Exhaust gas from an internal combustion engine comprises of toxic gas and pollutants; automotive catalytic converter devices are used in vehicles to convert these gases into less harmful emissions by catalyzing a redox reaction.

Two types of catalyst operate the function of automotive catalytic converter devices that consist of ceramic structure coated with metal catalyst.

Due to high costs of material, manufacturers of automotive catalytic converter devices are focusing on developing a structure that exposes large surface area of to the exhaust stream, while reducing the amount of catalyst required.

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With increasing number of vehicle parc, the amount of pollution that all the vehicles produce together can create big environmental problems. This had led surge in the demand for automotive catalytic converter devices in the recent years.

Large scale production of automobiles in emerging economies is the key factor driving automotive catalytic converter devices market.

To meet stringent regulations of exhaust emissions, most gasoline-powered vehicles must be equipped with catalytic converters which in turn accelerates growth of the automotive catalytic converter devices market.

In addition, the automotive catalytic converter devices market is expected to witness a significant growth in the coming years with growing need for enhancement of safety features in vehicles.

Fact.MR has published a new report on the global automotive catalytic converter devices market. An in-depth analysis of the trends, drivers, restraints, as well as opportunities makes this report the most credible source to understand the global market scenario.

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Automotive industry outlook, stringent environmental regulations, changing consumer preferences, and electrification of automobiles are few of the prominent factors influencing growth of the global automotive catalytic converter devices market.

In an attempt to reduce the emission levels, several technology advances have been implemented in the design of converters to achieve efficient emission control.

Automotive Catalytic Converter Devices Market Outlook

Among all the automobile exhaust emission technologies, catalytic converter is observed to be more efficient in reducing emission levels of CO, HC, NOx, and diesel particulates. The converter is placed in the exhaust systems of the automobiles to control emission.

According to the technology, they are found as three-way catalytic converter, diesel oxidation catalytic converter, selective catalytic reduction, and lean NOx trap. The catalysts used in the converters are usually palladium, rhodium, platinum, and other noble metals.

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As palladium has low cost and better selectivity and activity for hydrocarbons, it is the most widely used catalyst in automotive converters. Apart from general automobiles, catalytic converters also find application in mining, forklifts, electric generators, and other commercial vehicles.

Growth of Automotive Industry to Fuel Adoption

Due to improved economic conditions and expanding middle class, past decades have witnessed increased subscriptions of automobiles, in particular cars.

Along with increased vehicle ownership, introduction of ride-sharing concept by technology titans such as Uber has further supported growth of the automotive industry. International trade has also significantly contributed to the growth of automotive fleet industry.

As catalytic converters are indispensable component of every automobile, demand for automotive catalytic converter devices is estimated to remain steady in the future.

Advances in Nanotechnology to Improve Efficiency

In 2007, Mazda Motor Corporation launched the very first catalytic converter with nanoparticles. Implementation of nanotechnology significantly declined use of large particles of cost-intensive noble metals. Since then, multiple OEM manufacturers have introduced modifications in nanoparticles to achieve efficient gas emission.

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Electrification of Automotive Industry to Obstruct Market Growth

With the aim to reduce harmful substances in exhaust emissions and to exploit sustainable energy sources, development of electric vehicles is very well received across the globe.

As major industry titans have seriously implemented manufacturing of electric and hybrid electric vehicles, roads of major world regions are increasingly driving the same vehicles.

As these vehicles do not use fuel source for energy, they exempt the use of catalytic converters. With the increased adoption of electric vehicles, market for catalytic converter devices may experience timid growth.

Key Stakeholders of the Global Market

Key stakeholders in the global automotive catalytic converter devices are Benteler International AG, Tenneco Inc., Faurecia SA, BASF Catalysts, Calsonic Kansei Corporation, MagnettiMarelliSPA, Clean Diesel Technologies and Katcon among others.

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