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Global Automotive Catalytic Converter Market Size, Share, and Forecast Analysis 2025-2029
Automotive Catalytic Converter Market
What Are the Automotive Catalytic Converter Market Size Forecast for 2025?
In recent times, the automotive catalytic converter market has exhibited robust growth. It is projected to expand from $176.45 billion in 2024 to $188.6 billion in 2025, with a compound annual growth rate (CAGR) of 6.9%. Factors such as environmental issues, expansion of the automotive industry, advancement of emission standards, increase in vehicle proprietorship, and the creation of cleaner fuels have contributed to the growth experienced in the historical period.
What Is the Market Size Outlook for Automotive Catalytic Converter Until 2029?
In the coming years, the automotive catalytic converter market is predicted to experience significant growth, with a projection of $269.8 billion by 2029 and a compound annual growth rate (CAGR) of 9.4%. The upcoming expansion can be attributed to various factors such as the market's reach into different vehicle types, incorporation of AI and IoT, heightened awareness over air quality, the transition to Euro 7 standards, and advancements in materials and manufacturing processes. The forecast period will also see key trends such as a gravitation towards eco-friendly vehicles, use of lightweight materials and design, introduction of next-generation catalysts, incorporation of integrated emission control solutions, and an emphasis on product durability and lifespan.
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What Are the Major Factors Driving Demand in the Automotive Catalytic Converter Market?
The call for zero-emission vehicles is propelling the growth of the automotive catalytic converter market. Vehicles that produce no harmful emissions which can damage the environment or endanger human health fall under the category of zero-emission vehicles. Due to increased global warming levels, triggered by noxious gases released by vehicles, the interest for zero-emission vehicles has surged. With the aim to diminish detrimental emissions, catalytic converters utilize reduction and oxidation reactions using a reduction catalyst composed of platinum and rhodium to eliminate nitrogen atoms from nitrogen oxide molecules (NO and NO2). As noted by the International Council on Clean Transportation - a non-profit organization based in the US - new electric light-duty vehicle sales in the US soared to nearly 1.4 million in June 2024, rising from almost 1 million in 2022, taking their market share to approximately 9%. Consequently, the growing demand for zero-emission vehicles is likely to boost the expansion of the automotive catalytic converter market.
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How Are End-Use Segments Shaping the Automotive Catalytic Converter Market Outlook?
The automotive catalytic converter market covered in this report is segmented -
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 Or Three Wheeler, Passenger Vehicle, Light Duty Vehicle, Medium And Heavy Duty Trucks, Bus And Coaches
4) By Sales Channel: After market, Original Equipment Manufacturer (OEM)
Subsegments:
1) By Two-Way Catalytic Converter: Oxidation Catalysts, Hydrocarbon And Carbon Monoxide Converters
2) By Three-Way Catalytic Converter: Oxidation Catalysts, Reduction Catalysts, Complete Emission Control Systems
3) By Other Types: Diesel Catalytic Converters, Universal Catalytic Converters, Racing Catalytic Converters
What Are the Strategic Trends Transforming the Automotive Catalytic Converter Market Landscape?
Establishing strategic collaborations is a noteworthy trend being observed in the automotive catalytic converter market. Key companies within this sector are engaging in strategic alliances to maintain their market steadiness. To illustrate, ACAT Global Inc., an American industrial machinery and catalytic converter production company, made a strategic agreement with the Automotive Service Councils of California, a not-for-profit organization of automotive service experts, in May 2022. This collaboration assisted this manufacturer in adhering to the mandatory requirements of CARB (California air resource board) which stipulates that their vehicles should include engine and emission equipment systems to reduce specific emissions. Moreover, Cats & Pipes Ltd., a UK-based vehicle manufacture company specializing in catalytic converter production, joined hands with academics at Leeds in August 2021. The chief goal of this alliance is to design a device by 2023 that can be attached to internal combustion engine exhaust pipes to mitigate damaging gas emissions, thereby enabling comparison in their performance with current catalytic converters in real-world driving conditions.
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Who Are the Prominent Companies in the Automotive Catalytic Converter Market by ?
Major companies operating in the automotive catalytic converter market are Tenneco Inc., Yutaka Giken Company Limited, Sango Co. Ltd., Faurecia SE, BASF SE, Johnson Matthey Group, Eberspächer Group, Bosal International, BENTELER International AG, Friedrich Boysen GmbH & Co. KG, Wuxi Weifu Lida Catalytic Converter Co. Ltd., Eberspaecher GmbH Holding & Co. KG, Continental AG, European Exhaust and Catalyst Ltd., Deccats, Magneti Marelli S.p.A., Calsonic Kansei Corporation, Katcon S.A. de C.V., Futaba Industrial Co. Ltd, Boysen Ltd., Sejong Industrial Co.Ltd., Hanwoo Industrial Co. Ltd, Umicore NV, Corning Incorporated, Clean Diesel Technologies Inc., DCL International Inc., Dinex A/S, HJS Emission Technology GmbH & Co. KG, Klarius Products Ltd., MagnaFlow, MANN+HUMMEL, NGK Insulators Ltd., Sogefi SpA
Which Region Is Expected to See the Highest CAGR in the Automotive Catalytic Converter Market?
Asia-Pacific was the largest region in the automotive catalytic converter market share in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive catalytic converter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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