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Automotive Catalytic Converter Market 2019Description: -
A catalytic converter can be described as an exhaust emission control device that has the ability to reduce toxic gases and pollutants from the emitted exhaust gas of an internal combustion engine. The process turns the gas into less-toxic pollutants using a catalyzing process known as redox reaction (a combination of oxidation and a reduction reaction). These catalytic converters find application with internal combustion engines drawing power from either gasoline or diesel. It can also be powered using lean-burn engines or kerosene heaters and stoves. The global market for automotive catalytic converter relies on its efficiency for growth.
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Major Key Players
The leading companies profiled in the Automotive Catalytic Converter Market include Magneti Marelli S.P.A., Faurecia SA, Sango Co.Ltd., Benteler International AG, Futaba Industrial Co. Ltd. , BASF Catalysts LLC, European Exhaust and Catalyst Ltd, Deccats, Yutaka Giken Co. Ltd., and Calsonic Kansei Corporation among others.
Although catalytic converters find significant applications in the exhaust systems of automobiles, they can also be used in other machines like forklifts, electrical generators, trucks, mining equipment, locomotives, buses, and motorcycles. They can also be used on some wood stoves to maintain the emission standard. The process is an after-effect of the government regulations where the primary intent is to ensure the safety standard of an individual.
One major driving factor for the market is the increasing demand and production of vehicles. The sector is getting dominated by the imposition of various regulations that are meant to regulate emissions and increase fuel efficiency. On the other hand, the market is also set to benefit from the hike in consumption capacity, increasing environmental awareness, changes in the lifestyle, and others can impact the market notably in the coming days. Changing consumer demographics can also inspire better market movement.
Segmentation:
The global market for an automotive catalytic converter can be segmented into type, catalyst, and vehicle type. These segments have widely documented factors that can have a significant impact on the outcome of the market in the coming days.
By type, the global market for an automotive catalytic converter can be segmented into two-way oxidation catalytic converter, three-way oxidation-reduction catalytic converter, and diesel oxidation catalytic converter.
By catalyst, the global market report covering automotive catalytic converter can be segmented into platinum, palladium, rhodium, and others.
By vehicle type, the market report on the automotive catalytic converter can be segmented into passenger vehicles and commercial vehicles.
Regional Analysis:
North America and Europe can impact the global market on a grander scale. This would be possible due to the increasing demand for efficient, energy-saving, eco-friendly cars. The investment capacity of both consumers and manufacturers is high, which can make sure that the market gains better mileage in the coming years. Innovation is playing a pivotal role in accelerating market growth. In the Asia Pacific region, the global market can benefit from several aspects. The booming automotive sector, access to raw material, and cost-effective labor are some points that can be harnessed for better growth.
Industry News:
Recent series of thefts of the automotive catalytic converter has led automotive manufacturers to the drawing table to come up with better innovation. One of the major components for the catalytic converter is platinum that gets good price in the scrapyard, which has led to these kinds of events.
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Table of Contents – Major Key Points
1. Overview and Scope
2. Executive Summary
3. Automotive Catalytic Converter Market Insights
4. Automotive Catalytic Converter Market Size and Forecast, 2017-2026 by Type
5. Automotive Catalytic Converter Market Size and Forecast, 2017-2026 by Catalyst
6. Automotive Catalytic Converter Market Size and Forecast, 2017-2026 by Vehicle Type
7. Automotive Catalytic Converter Market Size and Forecast, 2017-2026 by Region
8. Company Profiles
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