Catalytic Converter Market Worth $73.1 Billion by 2025 - Exclusive Report by MarketsandMarkets™

CHICAGO, March 15, 2019 /PRNewswire/ -- According to the new market research report "Catalytic Converter Market by Type (FWCC, TWCC, SCR, DOC, and LNT), Material (Platinum, Palladium, and Rhodium), Vehicle Type (Passenger Cars, LCV, Bus & Truck, Construction, and Agriculture & Mining), Aftermarket and Region - Global Forecast to 2025", published by MarketsandMarkets™, the Catalytic Converter Market is estimated to be USD 42.4 billion in 2018 and is projected to reach USD 73.1 billion by 2025, at a CAGR of 8.10%. The increasing vehicle production and stringency in emission norms are projected to drive the Catalytic Converter Market.

Don't miss out on business opportunities Catalytic Converter Market.

Speak to Our Analyst and gain crucial industry insights that will help your business grow:

https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=128255548   

Truck segment is expected to grow at the highest CAGR in the global Catalytic Converter Market during the forecast period

Trucks are usually equipped with catalytic converters such as DOC and SCR. The market is estimated to be dominated by Asia Oceania as this region is the largest contributor to the global truck production in recent years. As per OICA statistics, Asia Oceania had the largest market share in truck production for 2017. From 2014 to 2017, truck production increased by almost 20% globally with 14% in Asia Oceania. As trucks are equipped with larger engines and emit more emissions, regulatory authorities are tightening the norms for heavy vehicles. This will force OEMs to deploy catalytic converters. Most of the heavy trucks are usually equipped with DOCs, and the upcoming regulatory compliances along with the rising truck production would boost the market for SCR devices in heavy trucks in the coming years.

Browse in-depth TOC on "Catalytic Converter Market"

123 – Tables

64 – Figures

211 – Pages  

View more detailed TOC:

https://www.marketsandmarkets.com/Market-Reports/catalytic-converter-systems-market-128255548.html 

Passenger car leads the catalytic converter aftermarket owing to high vehicle parc

The passenger car segment holds the largest market share for the catalytic converter aftermarket owing to the maximum vehicle parc. According to MarketsandMarkets™ analysis, the contribution of passenger cars in the overall vehicle parc stood at nearly 74.5% in 2017 which is anticipated to grow at a prominent rate in the coming years. The emission regulations are getting more stringent as well. Between the Euro 4 to Euro 6, particulate matter and NOx levels have reduced significantly. This has prompted the installation of new catalytic converters such as DOC and SCR in older vehicles which have further spurred the demand for catalytic converters in the aftermarket for passenger cars.

Palladium is expected to be the largest market, by material, in the global Catalytic Converter Market during the forecast period.

Palladium is primarily used for catalytic converter applications. Considering the current and historic cost advantage of palladium, gasoline catalytic converter technology is now almost exclusively palladium-based. Therefore, the market for palladium has thrived. Further, given the cost advantage of using palladium over platinum, there is a demand for developing technologies that use palladium.

Asia Oceania is expected to account for the largest market size during the forecast period

Asia Oceania has the largest market share of vehicle production with about 54–56% of the total vehicle production. China, India, and Japan are the largest vehicle production hubs because of rising urbanization, increasing GDP, and industrialization among others. With the growing vehicle production, vehicle emissions have also increased significantly. Considering this, few countries such as China, Japan, and India have implemented vehicle emission norms. For instance, China and India are currently running on China IV and BS IV. However, they are planning to implement China VI and BS VI by 2020 which is equivalent to Euro VI. Moving toward strict emission norms will create a huge demand for various aftertreatment devices. In Asia Oceania, China and Japan are the leading countries for the Catalytic Converter Market, by aftertreatment device.

Request Sample Pages:

https://www.marketsandmarkets.com/requestsampleNew.asp?id=128255548 

The Catalytic Converter Market is dominated by the global players and comprises several regional players. Some of the key players in the Catalytic Converter Market are Faurecia (France), Tenneco (US), Continental (Germany), Eberspächer (Germany), Johnson Maththey (UK), Umicore (Belgium), Futaba (Japan), BAEF (Germany), CDTI Materials (US), and Benteler International (Austria).

Request for special pricing on bundle reports:

https://www.marketsandmarkets.com/RequestBundleReport.asp?id=128255548 

Browse Adjacent Markets: Automotive and Transportation Market Research Reports & Consulting

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/catalytic-converter-systems-market.asp  
Visit Our Website: https://www.marketsandmarkets.com

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg