Automotive Catalytic Converters Market 2021 Explosive Factors of Revenue by Industry Statistics, Size, Demands, Trends, Opportunity, Share and Forecast To 2027 -Faurecia, Sango, Eberspacher, Katcon, Tenneco

The Automotive Catalytic Converters Market report is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.

The Global Automotive Catalytic Converters Market Size is Projected to Reach at a CAGR of 15% during 2021-2027.

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Market Overview:

Some of the major factors driving the growth of the market are the enactment of stringent emission norms and the growing automotive industry in Asia-Pacific, especially in countries, such as India, China, Thailand, and Japan. However, the growing penetration of electric vehicles is expected to hinder the growth of the market.

With consistently rising global emission levels and increasing health concerns, governments and regulatory authorities, such as the United States Environmental Protection Agency, are enacting stringent emission norms to control and reduce carbon emissions, especially for the automotive industry. A catalytic converter helps in reducing emissions and allows manufacturers to meet the standards set worldwide. As the demand for vehicles is anticipated to continue to increase over the next few years, the demand for automotive catalytic converters is also expected to register healthy growth.

Top Leading Companies:

Faurecia, Sango, Eberspacher, Katcon, Tenneco, Boysen, Benteler, Sejong, Calsonic Kansei, Bosal, Yutaka, Magneti Marelli, Weifu Lida, Chongqing Hiter, Futaba, Liuzhou Lihe, Brillient Tiger, Tianjin Catarc

Recent Development:

In March 2020, BASF developed a technology that helps reduce the price of the catalytic converter by replacing high-priced palladium with low-priced platinum without compromising the emission reduction performance.
In March 2020, Continental's Powertrain division Vitesco Technologies announced a contract with a major European manufacturer to supply electric heating elements for diesel catalytic converters. The company demonstrated high efficiency with a 40% reduction in NOX emissions and a 3% decrease in CO2 emissions of its products for diesel engine vehicles.

In March 2021, Eberspaecher started a new plant for exhaust technology with an area of 21,000 square meters in Ramos Arizpe, Mexico. With this plant, the company aims to increase the production of exhaust systems with improved efficiency and lesser harmful emissions.

Automotive Catalytic Converters Market Segmentation by Type:

Two-Way Converters
Three-Way Converters
Others

Automotive Catalytic Converters Market Segmentation by Application:

Passenger Vehicle
Commercial Vehicle

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Asia-Pacific and Europe to Dominate the Market

The EU passed updated regulations, which hindered the market for naturally aspirated engines. The regulation demanded an average CO2 emission of 130 g/km for every car market for the 2012-2015 models. Currently, the EU is directing that CO2 emission for each car company’s fleet average should be reduced to 95 g/km between the period 2020-2024 and achieve 15% CO2 emission reduction by 2025 and 37.5% reduction by 2030, especially for passenger cars in the region. Individual countries, like the Netherlands, made more stringent emission standards, demanding 80g/km.
The market in Asia-Pacific is expected to grow at a fast pace due to the sheer volume of cars being sold. China and India together reported a total of 22 million units of passenger cars sold in 2020. China is expected to occupy a significantly high market share by the end of 2025 in the Asia-Pacific market. China is expected to overtake the United States as the world’s largest market for passenger cars, creating a huge potential for the growth of the automotive catalytic converter market.

Regional Automotive Catalytic Converters Market (Regional Output, Demand & Forecast by Countries)

North America (United States, Canada, Mexico)
South America (Brazil, Argentina, Ecuador, Chile)
Asia Pacific (China, Japan, India, Korea)
Europe (Germany, UK, France, Italy)
Middle East Africa (Egypt, Turkey, Saudi Arabia, Iran) And additional.

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Highlights of the Automotive Catalytic Converters Market Report:

Detailed overview of Automotive Catalytic Converters Market
Changing the Automotive Catalytic Converters market dynamics of the industry
In-depth market segmentation by Type, Application, etc.
Historical, current and projected Automotive Catalytic Converters market size in terms of volume and value
Recent industry trends and developments
Competitive landscape of Automotive Catalytic Converters Market
Strategies of key players and product offerings
Potential and niche segments/regions exhibiting promising growth.

The research includes historic data from 2016 to 2021 and forecasts until 2027 which makes the report an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.

Finally, the Automotive Catalytic Converters Market report is the believable source for gaining the market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request, and market development rate and figure, and so on. Automotive Catalytic Converters industry report additionally Presents a new task SWOT examination, speculation attainability investigation, and venture return investigation.

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