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Automotive Catalytic Converter Market 2023: Industry, Share, Gross Margin, Trends, Competitive Landscape, And Key Regions 2032
Automotive Catalytic Converter Market
Automotive Catalytic Converter Market Size, Growth Rate, And Forecast
The global automotive catalytic converter market size is expected to grow from $151.85 billion in 2022 to $169.58 billion in 2023 at a compound annual growth rate (CAGR) of 11.67%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The automotive catalytic converter market is expected to reach $229.88 billion in 2027 at a CAGR of 7.90%.
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Automotive Catalytic Converter Market Drivers
The demand for zero-emission vehicles is driving the automotive catalytic converter market. The zero-emission vehicles refer to the modes of transportation that, in which vehicles operate, produce no hazardous emissions that hurt the environment or human health. The increase in global warming due to harmful gases emitted by vehicles has increased the demand for zero-emission vehicles. To reduce hazardous emissions, catalytic converters use reduction and oxidation (redox) reactions, using a reduction catalyst made of platinum and rhodium, which removes nitrogen atoms from nitrogen oxide molecules (NO and NO2).
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Automotive Catalytic Converter Market Segment
1) By Type: Two-Way Catalytic Converter, Three-Way Catalytic Converter, Other Types
2) By Material Type: Platinum, Palladium, Rhodium
3) By Vehicle Type: Two/Three Wheeler, Passenger Vehicle, Light Duty Vehicle, Medium And Heavy Duty Trucks, Bus And Coaches
4) By Sales Channel: Aftermarket, Original Equipment Manufacturer (OEM)
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Automotive Catalytic Converter market.
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Automotive Catalytic Converter Market Key Players
Major competitors in the Automotive Catalytic Converter market include Tenneco, Yutaka Giken, Sango Co. Ltd., Faurecia SE, BASF SE, Johnson Matthey Group, Eberspächer Group
The Table Of Content For The Automotive Catalytic Converter Market Include:
1. Executive Summary
2. Automotive Catalytic Converter Market Characteristics
3. Automotive Catalytic Converter Market Trends And Strategies
4. Automotive Catalytic Converter Market - Macro Economic Scenario
5. Automotive Catalytic Converter Market Size And Growth
……
27. Automotive Catalytic Converter Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Automotive Catalytic Converter Market
29. Automotive Catalytic Converter Market Future Outlook and Potential Analysis
30. Appendix
The Business Research Company's "Global Automotive Catalytic Converter Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
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