Press release
Mobile Emission Catalysts Market to Expand at a CAGR of 6.32% During the Forecast Period (2024-2032)
The mobile emission catalysts market was valued at USD 17.60 billion in 2023 and is projected to grow from USD 18.87 billion in 2024 to USD 30.80 billion by 2032, reflecting a compound annual growth rate (CAGR) of 6.32% during the forecast period (2024-2032).
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Mobile Emission Catalysts Market Companies Are:
BASF SE (Germany), Solvay (Belgium), Johnson Matthey (UK), Clariant (Switzerland), Umicore AG & Co. KG (Belgium), Cataler Corporation (Japan), Corning Incorporated (US), Heraeus Holding (Germany), N.E. CHEMCAT (Japan), Zeolyst International, Inc (US)
Market Driver
Stringent Emission Regulations Worldwide:
Governments and regulatory bodies across North America, Europe, and Asia-Pacific have imposed strict emissions regulations, such as the Euro standards and U.S. EPA norms, that demand reduced levels of harmful pollutants from vehicles. These regulations drive automotive manufacturers to adopt advanced emission control technologies, including mobile emission catalysts, to meet compliance requirements.
Market Challenge
High Costs of Precious Metals Used in Catalysts:
Mobile emission catalysts typically contain precious metals like platinum, palladium, and rhodium, which are expensive and subject to price fluctuations. This cost factor can impact manufacturers' profitability and is a key challenge, especially for industries already facing cost constraints.
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Market Opportunity
Growing Adoption of Hybrid and Electric Vehicles:
The trend toward electrification and hybrid technology presents opportunities for innovation in emission control for hybrid vehicles. While fully electric vehicles do not require emission catalysts, hybrids do, creating a niche market segment. Additionally, the transition period from traditional to electric vehicles will sustain demand for advanced catalysts in hybrid vehicles.
Table of Contents
SECTION I: EXECUTIVE SUMMARY AND KEY HIGHLIGHTS
EXECUTIVE SUMMARY
• Market Overview
• Key Findings
• Market Segmentation
• Competitive Landscape
• Challenges and Opportunities
• Future Outlook
SECTION II: SCOPING, METHODOLOGY AND MARKET STRUCTURE
SECTION III: QUALITATIVE ANALYSIS
SECTION IV: QUANTITATIVE ANALYSIS
SECTION V: COMPETITIVE ANALYSIS
LIST Of tables
LIST Of figures
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