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The two-wheeler catalytic converter market size is estimated to grow at a CAGR of 5.68% between 2022 and 2027. The market size is forecast to increase by USD 545.11 million. The growth of the market depends on several factors, including growing stringency of emission norms for two-wheelers, rising levels of traffic congestion due to increased urbanization, and increasing multinational two-wheeler OEMs in emerging countries.
This two-wheeler catalytic converter market report extensively covers market segmentation by application (entry level, mid-size, and full size), product (palladium, platinum, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The increasing stringency of emission norms for two-wheelers is notably driving the market growth, although factors such as the high penetration of low-cost bikes may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increasing stringency of emission norms for two-wheelers is notably driving market growth. These emission norms for two-wheelers are posing a challenge for manufacturers and governments alike. Recent years have witnessed the enforcement of regulations on vehicle emissions, including two-wheelers, by governments around the world. This has prompted the development of advanced technologies, including catalytic converters, to help reduce the release of a number of pollutants into the atmosphere. The key driver of the trend is the growing awareness of the negative impact of air pollution on the environment and human health. Vehicular emissions are a major contributor to air pollution, and hence, the implementation of stricter emission norms for two-wheelers is perceived as a necessary step toward improving air quality. In recent years, catalytic converters in two-wheelers have become increasingly common. Many manufacturers are opting to include them in their vehicles, even in markets with no legal requirements.
These devices help reduce the number of harmful pollutants emitted by the engine, namely carbon monoxide, nitrogen oxides, and hydrocarbons. However, the use of catalytic converters may incur both production and maintenance expenses. Despite these challenges, the global two-wheeler catalytic converter market is expected to grow significantly in the coming years, driven by the strong demand created by government regulations in developing countries such as India, and China, among others. For example, Hero MotoCorp Ltd. unveiled the latest version of BS-VI-compliant Super Splendor, with a fuel injector and a larger catalytic converter, to reduce tailpipe emissions. These factors are expected to further increase the adoption of catalytic converters in motorcycles and scooters during the forecast period.
The emergence of dual-sport motorcycles is one of the key trends in the market. The increasing competition in the global two-wheeler industry is driving the launch of new models across segments. In the past few years, the two-wheeler industry has witnessed the emergence of sub-segments. Dual-sport motorcycles are increasingly gaining popularity among motorcycle enthusiasts. These motorcycles offer broad capabilities, making them ideal for use as sports motorcycles while riding through streets or off-roading. Often known as street versions of enduro-type off-road motorcycles, they are equipped with large displacement multicylinder engines and effective catalytic converters for adequate performance across both on-road and off-road conditions.
Besides, some of these motorcycles also come with saddlebags. Some of the prominent dual-sport motorcycle manufacturers include Honda Motor, Kawasaki, and Yamaha Motor are some of the prominent. This motorcycle segment is witnessing a year-over-year increase in sales in regions such as North America, Europe, and some APAC economies. Hence, the emergence of dual-spot motorcycles is expected to boost the growth of the global two-wheeler catalytic converter market during the forecast period.
The high penetration of low-cost bikes may impede the market growth. In the global motorcycle market, developing countries such as China and India account for the largest share in terms of volume sales. In these countries, the motorcycle market is dominated by commuter-class motorcycles, mostly less than 125 ccs, for which the installation of a catalytic converter is not mandatory. Moreover, motorcycle producers in these countries focus on offering economical and efficient vehicles for short-distance travel.
Apart from the legislation on motorcycle exhaust systems, the cost of including catalytic converters in the commuter segment motorcycles is posing a challenge for the two-wheeler catalytic converter market. For instance, BS 6 motorcycles and scooters cost significantly higher compared to their BS 4 counterparts. Hence, the growing penetration of entry-level commuter motorcycles is posing a barrier for the two-wheeler catalytic converter market in China and India, which are major two-wheel markets. The global two-wheeler catalytic converter market will, hence, reflect the impact on these countries during the forecast period.
The two-wheeler catalytic converter market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Two-Wheeler Catalytic Converter Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
BASF SE - The company offers two-wheeler catalytic converters such as Katcon Mini, Katcon X, and Katcon V. It also offers crop protection products, seeds, and digital solutions.
The research report also includes detailed analyses of the competitive landscape of the market and information about 10 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the entry-level segment will be significant during the forecast period. Entry-level two-wheelers are mostly preferred for daily commutes within city limits. Their limited engine capacity allows for comfortable travel within city limits. For instance, they have an engine capacity of less than 400cc.
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The entry-level segment was valued at USD 1,513.45 million in 2017 and continued to grow until 2021. The growing demand for entry-level two-wheelers can be majorly attributed to the increasing preference for fuel-efficient and convenient personal mobility. The two-wheeler markets in China and India account for the highest share in the global catalytic converter market by the entry-level segment. A majority of the younger population in China and India migrate to cities in search of employment opportunities, thereby boosting the demand for low-cost personal transport. Besides, rising income levels and increasing traffic congestion are factors driving the sales of entry-level two-wheelers, in turn increasing the sales of catalytic converters. These factors are expected to drive the growth of the entry-level segment during the forecast period.
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APAC is estimated to contribute 90% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The two-wheeler market in this region is dominated by low-power and affordable geared motorcycles and gearless scooters for use in commuting. Motorcycles are mainly perceived as a personalized and cheap alternative to public transportation and passenger cars. The key factors driving the growth of the motorcycle market in APAC include road congestion, fuel prices, and cost-sensitive buying behavior. China and India are dominating the two-wheeler catalytic converter market in APAC and the trend is expected to continue during the forecast period. This can be attributed to the increasing demand for two-wheelers in the low-powered and heavyweight segments. In these countries, the heavyweight motorcycle segment is expected to grow significantly, in turn boosting the adoption of catalytic converters in the region. Increasing pollution levels, especially from two-wheelers, are prompting governments, especially in China and India, to enforce stringent emission regulations on two-wheelers.
During the COVID-19 pandemic, the production of two-wheelers and related components, such as engines, was suspended or reduced during the first half of 2020. This was done to prevent the community spread of the disease through social contact. The decrease in the production of two-wheeler components led to an imbalance in the supply-demand scenario. However, the demand for two-wheelers increased in 2021 post the lifting of lockdowns, intensifying the competition among two-wheeler catalytic converter manufacturers. This, in turn, has prompted them to offer highly differentiated products, including two-wheeler catalytic converters. Developed economies in APAC, including Japan, South Korea, and Australia, have managed to control the COVID-19 outbreak. China has also controlled the spread of the disease and resumed manufacturing two-wheeler auto components and accessories, including catalytic converters. Hence, all these factors are expected to boost the demand for the two-wheeler catalytic converter market in APAC during the forecast period.
The two-wheeler catalytic converter market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the two-wheeler catalytic converter market as a part of the global automotive components and accessories market, which covers companies engaged in the production of parts and accessories for automobiles such as passenger cars (PCs), electric vehicles (EVs), and commercial vehicles (CVs), among others. Growth of the global automotive components and accessories market will be driven by factors such as increased use of electronic components in automobiles, integration of safety systems, and enhanced safety regulations. Our market research report has extensively covered external factors influencing the parent market growth during the forecast period.
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Two-Wheeler Catalytic Converter Market Scope |
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Report Coverage |
Details |
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Page number |
155 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.68% |
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Market growth 2023-2027 |
USD 545.11 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
5.0 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 90% |
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Key countries |
India, China, Indonesia, Pakistan, and Vietnam |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
ACAT Global LLC, Akrapovic d.d., BASF SE, Continental AG, Munjal Auto Industries Ltd., Scorpion Exhausts Ltd., Shilpa Enterprises, and Varroc Engineering Ltd |
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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 the forecast period. |
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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 market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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
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