Automotive Catalytic Converter Market to Witness good growth by 2027| Industry Overview by Top Players - Faurecia SA, BASF Catalysts LLC, Magneti Marelli S.P.A Tofurky, Tenneco Inc., Eberspaecher GmbH Holding & Co., Benteler International AG
As per our analysis, it is predicted that global plant-based meat sales are expected to grow at a CAGR of about 6.1%. Furthermore, as per the analysis global automotive catalytic converter sales is expected to reach around US$ 18.3 million by 2030, compared to US$ 11.9 million in 2020. Ph, Pd, and Pt demand in 2020 totaled 21.2, 308, and 215 tones, respectively. About 90% of the total Rh1, 85% of the total Pd, and 32% of the total Pt were utilized by the automotive catalyst industry.
COVID-19 had a substantial impact on the automobile industry's supply chain and product demand. With all non-essential services shut down, demand for commercial cars is projected to fall. Furthermore, changes in consumer purchasing behavior as a result of the pandemic's uncertainty could have a significant impact on the industry's near-term growth. Meanwhile, the cash constraint and liquidity shortfall have already hurt fleet operative sales, which are expected to worsen in the coming months. All of these factors are expected to have an impact on automotive production and sales, affecting the global market
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Global Automotive Catalytic Converter Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Type, the market is primarily bifurcated into:
• Two-way Catalytic Converter
• Three-way Catalytic Converter
• Other Types
Based on type, the three-way catalytic is expected to dominate the market over the forecasted period based on its major use in vehicle emission control system.
By Material, the market is primarily studied into:
In 2020, Rhodium segment dominated the market and is expected to maintain its dominance throughout the forecast period. Rhodium is a popular material for recycling vehicle catalytic converters because it is more efficient at removing dangerous exhaust emissions by breaking down nitrogen oxides in exhaust gases and releasing harmless oxygen and nitrogen gases.
By Vehicle, the market is primarily studied into:
• Passenger Cars
• Commercial Vehicles
Based on vehicle, because of the higher number of sales and manufacturing of passenger automobiles around the world, the passenger car category has the biggest market share. The rapid growth in number of passenger automobiles is due to increased urbanization, an improvement in the standard of living is adding fuel to this growth.
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Global Plant-based Meat Market Region Segmentation Includes:
• North America
• Asia Pacific
• Rest of World
Based on the estimation, Asia-Pacific dominated the market in 2020 and is expected to witness highest CAGR growth during the forecast period.
The major players targeting the market includes:
• Faurecia SA
• BASF Catalysts LLC
• Magneti Marelli S.P.A Tofurky
• Tenneco Inc.
• Eberspaecher GmbH Holding & Co.
• Benteler International AG
• Calsonic Kansei Corporation
• Futaba Industrial Co. Ltd
• BOSAL GROUP
• Standard Motor Products Europe Ltd.
The degree of competition among prominent companies has been elaborated by analyzing several leading key players operating in the Global context. The specialist team of research analysts sheds light on various traits such as Global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Global Automotive Catalytic Converter Market. The major players have been analyzed using different research methodologies for getting insight views on market competition.
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Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and advancements in the Global Automotive Catalytic Converter Market?
• Which factors are influencing the Global Automotive Catalytic Converter Market over the forecast period?
• What are the global challenges, threats, and risks in the Global Automotive Catalytic Converter Market?
• Which factors are propelling and restraining the Global Automotive Catalytic Converter Market?
• What are the demanding global regions of the Automotive Catalytic Converter Market?
• What will be the market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by the companies?
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About UnivDatos Market Insights
UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.
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