A catalytic converter is a device that converts harmful gases into less toxic byproducts, effectively reducing environmental pollution. This mechanical device contains a catalyst chamber, which transforms toxic compounds in exhaust systems into harmless gases, including water vapor and carbon dioxide. It is an essential component attached to the exhaust system of all internal combustion engines that use gasoline or diesel, and it minimizes the emissions of toxic gases such as carbon monoxide, nitrogen oxides, and hydrocarbons.
There are several types of catalytic converters, including three-way catalytic converters (TWCC), four-way catalytic converters (FWCC), diesel oxidation catalysts (DOC), selective catalytic reduction (SCR), and lean NOx trap (LNT). The TWCC is designed to convert all three harmful gases (carbon monoxide, hydrocarbons, and nitrogen oxides) into less toxic by-products, making it effective in reducing both indoor and outdoor pollutants. Palladium, platinum, and rhodium are commonly used materials in catalytic converters.
Catalytic converters are utilized in various types of vehicles, including passenger cars, light commercial vehicles, trucks, buses, and off-highway vehicles such as agricultural tractors, construction equipment, and mining equipment.
The global catalytic converter market is anticipated to grow at a significant rate during the forecast period. The market growth can be attributed to the increasing vehicle production and sales of vehicles and stringent government norms for vehicle emissions. Besides, rising demand for passenger cars owing to rising personal disposable income of the middle-class population and increasing demand for catalytic converter in the aftermarket influenced by factors such as increasing average age of vehicles, improving infrastructure, growing concerns regarding vehicle maintenance, etc. are aiding the growth of the global catalytic converter market. Additionally, advancements in nanotechnology have led to the development of more efficient catalytic convertors that reduce the emission of harmful gases from the engine, propelling the growth of the global catalytic converter market. Moreover, introduction of Real Drive Emission (RDE) tests using Portable Measurement System (PEMS) to measure harmful pollutants emitted by cars on the road has led to a greater adoption of catalytic convertors, which is aiding its market growth.
With growing focus on electrification, the sales and production of battery electric vehicles have increased significantly. Governments across the world are introducing supportive policies to reduce air pollution, creating higher demand for battery electric vehicles. Since electric vehicles are not equipped with catalytic convertors, their rising adoption could restrict the growth of the global catalytic convertor market in the coming years.
The global catalytic converter market is segmented on the basis of vehicle type, product type, material type, company, and geography. Based on vehicle type, the market is further divided into passenger cars and light commercial vehicles. The commercial vehicle segment is projected to grow at a highest rate during the forecast period compared to passenger cars as heavy vehicles are the major source of vehicle emissions and removal of carbon monoxide and hydrocarbons requires diesel oxidation catalyst.
Some of the major key players operating in the global catalytic converter market are Calsonic Kansei Corporation, Tenneco Inc., Faurecia SA, Sango Co.Ltd., Bosal International NV, Magneti Marelli S.P.A., Benteler International AG, Eberspacher Group, Futaba Industrial Co. Ltd., Yutaka Giken Co. Ltd. etc
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Objective of the Study:
- To assess the demand-supply scenario of the global catalytic converter which covers production, demand and supply of catalytic converter market globally.
- To analyze and forecast the market size of catalytic converter in terms of volume and value.
- To classify and forecast global catalytic converter based on vehicle type, product type, material, regional distribution, and company.
- To identify drivers and challenges for global catalytic converter market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global catalytic converter market.
- To identify and analyze the profile of leading players involved in the manufacturing of global catalytic converter.
To perform the study, TechSci Research conducted primary as well as exhaustive secondary research. Initially, TechSci Research prepared an exhaustive list of Catalytic Converter manufacturers operating globally. Subsequently, TechSci Research conducted primary research surveys, which include primary calls, email responses, etc., with the identified companies. While interviewing, the respondents were also asked about their major competitors. Through this technique, TechSci Research could include manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analysed product offerings and regional presence of all major Catalytic Converter supplier across the globe.
TechSci Research calculated the market size for global Catalytic Converter using a bottom-up technique, wherein manufacturers’ volume sales data for different types of warehouse vehicles, were recorded as well as forecast for the future years. TechSci Research sourced these values from industry experts and company representatives, and externally validated through analysing historical sales data of respective manufacturer to arrive at the overall market size. Multiple secondary sources such as directories, Company Websites, company annual reports, white papers, investor presentations and financial reports were also used by TechSci Research.
Key Target Audience:
- Automotive Catalytic Converter manufacturers
- Automobile Manufacturers
- Raw material manufacturers of automotive catalytic converter components
- Raw material suppliers
- Research Institutes
- Associations, organizations, forums and alliances related to Catalytic Converter manufacturers.
- Industry associations
- Market research and consulting firm.
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Catalytic Converter manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
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About TechSci Research:
TechSci Research is a research-based management consulting firm providing market research and advisory solutions to its customers worldwide, spanning a range of industries. TechSci Research’s core values are value, integrity and insight. Led by a team of dynamic industry experts, TechSci Research provides its customers with high value market research and advisory services that helps them identify new market opportunities, growth engines and innovative ways to capture the market share. As a result, TechSci’s client leads rather than follow market trends. Not bound by legacy, TechSci’s cutting-edge research model leverages its decades of research knowledge and an increased use of technology as engines of innovation to deliver unique research value. Provided as an alternative to traditional market research, TechSci Research reports do not just deliver data and knowledge rather highlights the insights in a more usable and interactive format for its clients.
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