The global automotive catalytic converter market size is expected to reach $183.4 billion by 2022, registering a CAGR of 7.7% from 2016 to 2022. Automotive catalytic converter reduces the emissions in the automobiles by removing toxic compounds such as carbon monoxide, nitrogen oxide, and hydrocarbon from the exhaust system of vehicles.
Automotive catalytic converter market is expected to witness notable growth in the near future, owing to the characteristic features of the catalytic converter such as enhanced energy efficiency, operational efficiency, and safety measures. Moreover, growth in vehicle production & sales worldwide and rise in stringent emission norms for vehicles by government are expected to supplement the global market growth in the near future. However, certain factors such as high R&D cost and increase in demand for electric & hybrid vehicles restrain the market development.
Geographically, the global market is segmented into North America, Europe, Asia-Pacific, and LAMEA. Europe leads the global automotive catalytic industry, accounting for majority of the total market share by revenue, followed by North America and Asia-Pacific. Most of the key players, including Faurecia, Tenneco, Magneti Marelli, and Clean Diesel Technologies have adopted product launch, partnership, and collaboration as their major growth strategies to stay competitive in the market. These strategies enable the companies to enhance their overall business revenues and expand their consumer base. The report segments the automotive catalytic converter based on type, catalyst, and geography. By type, the market is segmented into two-way oxidation catalytic converter, three-way oxidation‐reduction catalytic converter, and diesel oxidation catalyst. By catalyst, the market is segmented into platinum, palladium, and rhodium. Some of the key players profiled in the report are Faurecia SA, BASF Catalysts LLC, Eberspaecher GmbH Holding & Co, Magneti Marelli S.P.A, Tenneco Inc., Benteler International AG, Calsonic Kansei Corporation and Standard Motor Products Europe Ltd.
Top winning strategies of the global automotive catalytic converter market
The key players present in the automotive catalytic converter industry adopt various strategies to stay competitive in the market. Some of the key growth strategies adopted by these players include product launch, partnership & collaboration, business expansion, acquisition, and R&D. Product launch is one of the prime strategies adopted by key market players. It helps the companies to provide innovative products to their customers on a continuous basis and expand their market reach. For instance, in 2015, Clean Diesel Technologies launched its catalytic converter product line with AP Exhaust Technologies, Inc. Partnership & collaboration is another major strategy adopted by these companies.
Top factors impacting the global automotive catalytic converter market
The significant impacting factors include increase in global sales of automobiles. Stringent emission norms to control increase in pollution fuels the market growth, creating new opportunities. Increase in popularity of electric & hybrid vehicles and high R&D cost hampers the market growth. However, each factor is projected to have its definite impact on the market during the forecast period.
Top investment pockets of the global automotive catalytic converter market
Currently, rhodium catalyst segment witnesses a rapid market growth due to increased adoption of automotive catalytic converter. This segment has emerged as the largest segment in terms of revenue. Rhodium market for automotive catalytic converter is expected to dominate the market in the near future.
AUTOMOTIVE CATALYTIC CONVERTER MARKET POTENTIAL BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the automotive catalytic converter market trends, with current and future perspective, to elucidate the imminent investment pockets in the market
- Current and future trends adopted by the key market players are highlighted to determine overall competitiveness of the market
- Porter’s Five Forces analysis of the key market players are provided to illustrate the business strategies adopted by buyers and suppliers
- The report provides information regarding key drivers, restraints, and opportunities with their impact analysis during the forecast period
- Various operating segments of the market are carefully analyzed to measure the potential of the emerging market
- The quantitative analysis of the market during 2014-2022 is provided to elaborate the market potential
AUTOMOTIVE CATALYTIC CONVERTER MARKET SEGMENTS
The market is automotive catalytic converter segmented based on type, catalyst, and geography.
- Two-Way Oxidation Catalytic Converter
- Three-Way Oxidation-Reduction Catalytic Converter
- Diesel Oxidation Catalyst
- North America
AUTOMOTIVE CATALYTIC CONVERTER MARKET PLAYERS IN VALUE CHAIN
- Faurecia SA
- BASF Catalysts LLC
- Eberspaecher GmbH Holding & Co.
- Magneti Marelli S.P.A,
- Tenneco Inc.
- Benteler International AG
- Calsonic Kansei Corporation
- Standard Motor Products Europe Ltd.
- Clean Diesel Technologies Inc.
- BOSAL Group
- Futaba Corporation
- HJS Emission Technology GmbH & Co. KG
- Jetex Exhausts Ltd.