Global Catalytic Converter Market: High Demand from the Automobile Industry to Drive Growth

Catalytic converter is used to control emission of poisonous gas emitted from the vehicle. It helps in reducing the density of the poisonous gas by catalyzing an oxidation and reduction reaction. These converters are widely used in the locomotive industry due to government regulations. Almost all vehicles use catalytic converters to reduce the air pollution. Some governments have made it necessary to use catalytic converters in the vehicles such as passenger cars, light commercial vehicles and heavy commercial vehicles among others.  The Stringent guidelines imposed by the U.S. Environmental Protection Agency for exhaust emissions have made it essential to provide the catalytic converters in the vehicles.

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Automotive catalytic converter market is expected to witness significant growth in the near future, due to the distinctive features of the catalytic converter such as enhanced energy efficiency, operational efficiency, and safety measures. Moreover, rise in vehicle production & sales worldwide and increase in strict emission standards for vehicles by government are expected to drive the growth of the global market. However, factors such as high R&D cost and increase in demand for electric & hybrid vehicles restrain the growth of this market.

A recent report published by Infinium Global Research on automotive catalytic converter market provides in depth analysis of segments and sub-segments in global as well as regional markets of automotive catalytic converter market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional markets of automotive catalytic converter over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global automotive catalytic converter market. According to report the global automotive catalytic converter market is projected to grow at a CAGR of 8.65% over the forecast period of 2017 - 2023.

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Global Automotive Catalytic Converter Market by Type
• Two Way Catalytic Converters
• Three Way Catalytic Converters
• Diesel Oxidation Catalytic Converters

Global Automotive Catalytic Converter Market by Materials
• Platinum
• Palladium
• Rhodium
• Others

Global Automotive Catalytic Converter Market by End Use
• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles
• Others

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Companies Profiled:

The report provides profiles of the companies in the global automotive catalytic converter market such as, Faurecia, Tenneco, Benteler International AG, Magneti Marelli S.P.A, Eberspacher Group, Futaba Industrial Co. Ltd, Calsonic Kansei Corporation, Sango Co. Ltd., Yutaka Giken Co. Ltd., and others.

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This release was published on openPR.