Enjoy complimentary customisation on priority with our Enterprise License!
The automotive catalytic converter market share is expected to increase by USD 2.93 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 1.42%.
This automotive catalytic converter market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers automotive catalytic converter market segmentations by application (passenger vehicles and commercial vehicles) and geographic (APAC, Europe, North America, MEA, and South America). The automotive catalytic converter market report also offers information on several market vendors, including BASF SE, CDTi Advanced Materials Inc., Continental AG, Eberspacher Group, Faurecia SE, Johnson Matthey Plc, Katcon Global, Klarius Products Ltd., Marelli Holdings Co. Ltd., and Tenneco Inc. among others.
Download the Free Report Sample to Unlock the Automotive Catalytic Converter Market Size for the Forecast Period and Other Important Statistics
Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The stringent regulations to control emissions is notably driving the automotive catalytic converter market growth, although factors such as downside and drawbacks of using automotive catalytic converters may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive catalytic converter industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Automotive Catalytic Converter Market Driver
One of the key factors driving the automotive catalytic converter market growth is the stringent regulations to control emissions. Government norms and regulations governing the automotive industry have led to the development of advanced automotive systems. The regulatory bodies monitor fuel efficiency, safety, and exhaust emissions. Stringent mandates and norms are crucial to the development of advanced, safe, and energy-efficient automobiles. The global automotive catalytic converter market is regulated by many government regulations. The major automotive economies across the globe implement stringent vehicular emission policies that specify the maximum permissible limits of emissions. Governments and automotive governing councils in the developed automotive economies such as the US, Canada in North America, and the EU implement stringent emission norms. Furthermore, in India, the implementation of BS-VI vehicles was planned in April 2020. Owing to the current COVID-19 pandemic situation, it is delayed. The implementation of such stringent rules and regulations to control emissions from vehicles is expected to create a demand for advanced automotive catalytic converters in the market.
Key Automotive Catalytic Converter Market Trend
Another key factor driving automotive catalytic converter market growth is emergence of advanced emission control solutions for aftermarket. The increasing focus on environmental pollution caused by automobiles drives developments in vehicle exhaust systems. Stringent emission standards have led to the development of advanced emission control systems and energy-efficient vehicles that cause less pollution. Developments in the field of vehicular emission control systems are not limited to automotive OEMs as OE parts. Vendors are actively focusing on advanced emission control solutions for the automotive aftermarket as well. For instance, Tenneco introduced its Euro 6-compliant catalytic converter, Walker, for gasoline engines in the EU aftermarket. The product is reportedly the EU's first Euro 6 petrol catalytic converter. The catalytic converter is designed to work in conjunction with Volkswagen AG's 1.4-liter TSI engine that is found in numerous Volkswagen models. This new catalytic converter is anticipated to ensure Euro 6 emission compliance for over 400,000 cars in the EU. Similarly, other vendors are concentrating on aftermarket emissions control solutions for vehicles that are currently in use. With the revision of emission standards in short intervals, such developments prove beneficial for vehicles currently in use.
Key Automotive Catalytic Converter Market Challenge
Downside and drawbacks of using automotive catalytic converters and high cost associated with replacement are one of the key challenges hindering the automotive catalytic converter market growth. The functional benefits of automotive catalytic converters have increased their adoption in automobiles. However, the drawbacks of catalytic converters can pose a serious challenge to the growth of the market. The increasing sales of automobiles have increased pollution at a global level. Advanced automotive catalytic converters with improved materials are used in modern vehicles. Catalytic converters use energy sourced from the engine, which reduces power output. Catalysts are designed to slow down the circulation of emissions, which increase fuel consumption and reduce fuel economy. Catalytic converters may fail because of wear and tear, spark plug, or exhaust valve. Catalytic converters cause engine overheating because of the additional energy required to burn emissions. Moreover, the overall cost of development and manufacturing automotive catalytic converters is increasing as well. The increasing application of three-way catalytic converters and the use of advanced SCR adds to the overall cost of modern catalytic converters. In addition, the cost of replacing a catalytic converter is high because of the expensive catalytic converter, parts, and labor.
This automotive catalytic converter market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global automotive catalytic converter market as a part of the global automotive components and accessories market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the automotive catalytic converter market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the automotive catalytic converter market encompasses successful business strategies deployed by the key vendors. The automotive catalytic converter market is fragmented and the vendors are deploying growth strategies such as focusing on R&D activities to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The automotive catalytic converter market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the automotive catalytic converter market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
For more insights on the market share of various regions Request for a FREE sample now!
69% of the market's growth will originate from APAC during the forecast period. China, Japan and India are the key markets for automotive catalytic converter in APAC. Market growth in this region will be faster than the growth of the market in other regions.
Stringent emission standards will facilitate the automotive catalytic converter market growth in APAC over the forecast period. Moreover, increased economic growth in China, India, and other southeast Asian nations has considerably increased the spending on infrastructure and industrial development, which has led to a rise in the demand for passenger cars and heavy commercial vehicles. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The automotive catalytic converter market in APAC is witnessing certain challenges. The outbreak of COVID-19 has affected many countries in the region, such as China, India, South Korea, and Japan. Since early 2020, many countries have been imposing nationwide lockdowns to prevent the community spread of COVID-19. The outbreak affected the overall economy of the region, supply chain, and the industrial and commercial sectors in 2020 and early 2021. The temporary closure of the automotive and transportation industries has led to a decline in the use and installation of catalytic converters in automobiles. This is expected to hinder the potential growth of the market in the region during the forecast period. However, operations in various industries have been gradually resuming with limited capacity while maintaining social distancing norms, which is expected to stabilize market growth in the region during the forecast period. Moreover, the increasing need for the safety of individuals in the long run is expected to witness a demand for passenger vehicles, which, in turn, will contribute to the growth of the regional market after the lifting of lockdowns.
To gain further insights on the market contribution of various segments Request for a FREE sample
The automotive catalytic converter market share growth by the passenger vehicles will be significant during the forecast period. The increasing sales of passenger vehicles (by volume) in emerging and developing economies such as China, India, and ASEAN contribute to the demand for automotive catalytic converters. The rising demand for passenger vehicles with large, high-performance engines fitted with multiple catalytic converters positively affects the global automotive catalytic converter market.
Besides the above-mentioned factors, the post COVID-19 impact has brought forth a slowdown in or fast tracked the demand for the service or product. This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive catalytic converter market size and actionable market insights on post COVID-19 impact on each segment.
|
Automotive Catalytic Converter Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
120 |
|
Base year |
2020 |
|
Forecast period |
2021-2025 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 1.42% |
|
Market growth 2021-2025 |
$ 2.93 billion |
|
Market structure |
Fragmented |
|
YoY growth (%) |
0.44 |
|
Regional analysis |
APAC, Europe, North America, MEA, and South America |
|
Performing market contribution |
APAC at 69% |
|
Key consumer countries |
China, US, Japan, Germany, and India |
|
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
|
Key companies profiled |
BASF SE, CDTi Advanced Materials Inc., Continental AG, Eberspacher Group, Faurecia SE, Johnson Matthey Plc, Katcon Global, Klarius Products Ltd., Marelli Holdings Co. Ltd., and Tenneco Inc. |
|
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
37 4.2
38 4.3
40 4.4
41 4.5
42 4.6
44 4.7
46 5.
47 5.1
48 5.2
50 5.3
51 5.4
54 5.5
57 6.
58 7.
60 7.1
61 7.2
63 7.3
64 7.4
67 7.5
70 7.6
73 7.7
76 7.8
79 7.9
80 8.
82 8.1
83 8.2
85 8.3
88 9.
90 9.1
91 9.2
92 9.3
93 10.
95 10.1
96 10.2
98 10.3
100 10.4
103 10.5
104 10.6
106 10.7
108 10.8
110 10.9
112 10.10
113 10.11
115 10.12
117 11.
119 11.1
120 11.2
121 11.3
122 11.4
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Certified ISO 9001 : 2015
We are ISO 9001:2015 recognized that ensures quality services and product delivery to our clients.
We are GDPR and CCPA compliant! Your transaction & personal information is protected from unauthorized use.
Get lifetime access to our
Technavio Insights
Get the report (PDF) sent to your email within minutes.
