(I-BusinessNews.Com, January 07, 2019 ) Automotive Catalytic Converter valued approximately USD 41 billion in 2017 is anticipated to grow with a healthy growth rate of more than 8.12% over the forecast period 2018-2025. The major drivers of the automotive catalytic market are rising vehicle production and stringent government standards. Catalytic converter forms one of the most critical components that are used in every automobile produced, to reduce the toxicity of the emissions in a vehicle by removing harmful substances in the exhaust systems. The major restraining factor of automotive catalytic converter rise in demand for electric vehicles volatile precious metal prices. Now a days, nanoparticles for catalytic reduction trending in automotive catalytic converter.
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A catalytic converter is an exhaust emission control device that converts toxic gases and pollutants in exhaust gas from an internal combustion engine into less-toxic pollutants by catalyzing a redox reaction (an oxidation and a reduction reaction). Catalytic converters are usually used with internal combustion engines fueled by either gasoline or diesel—including lean-burn engines as well as kerosene heaters and stoves. The catalytic converter’s sole purpose is to reduce the amount of harmful pollution produced by the combustion of hydrocarbon-based fossil fuels in cars.
The regional analysis of Automotive Catalytic Converter is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. In region such as Asia-Pacific, Middle-East and Africa, rise in usage of passenger vehicles set the growth in automotive catalytic converter over the forecasted period 2018-2025. Asia-Pacific is estimated to hold a prominent share of the automotive catalytic converter market. Developing countries, such as India and China, are significant players boosting the demand for the automotive catalytic converter. Europe, North America and the Middle East and Africa are continuously witnessing infrastructural growth which fueling the demand of automotive catalytic converter over the coming years. Asia Pacific region is contributing towards the growth of global Automotive Catalytic Converter and anticipated to exhibit higher growth rate / CAGR over the forecast period 2018-2025.
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
§ Two-Way Oxidation Catalytic Converter
§ Three-Way oxidation Reduction Catalytic Converter
§ Diesel Oxidation Catalyst
By Catalyst:
§ Platinum
§ Palladium
§ Rhodium
§ Others
By Regions:
§ North America
o U.S.
o Canada
§ Europe
o UK
o Germany
§ Asia Pacific
o China
o India
o Japan
§ Latin America
o Brazil
o Mexico
§ Rest of the World
Qurate Business Intelligence
Nehal Chinoy
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nehal@qurateresearch.com
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