Catalytic Converter Market 2024-2033: Technological Advancements, Competitive Landscape and Strategies

The catalytic converter global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Catalytic Converter Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size –
The catalytic converter market size has grown rapidly in recent years. It will grow from $60.04 billion in 2023 to $66.57 billion in 2024 at a compound annual growth rate (CAGR) of 10.9%. The growth in the historic period can be attributed to regulatory mandates for emissions control (e.g., epa standards), growth in awareness of environmental pollution and air quality, increased production and sales of internal combustion engines, adoption of three-way catalytic converters for gasoline engines, expansion of automotive industry, especially in emerging markets.

The catalytic converter market size is expected to see rapid growth in the next few years. It will grow to $102.7 billion in 2028 at a compound annual growth rate (CAGR) of 11.4%. The growth in the forecast period can be attributed to growing demand for commercial and heavy-duty vehicle emissions control, adoption of advanced catalytic converter substrates (e.g., pgm-coated), focus on reduction of particulate matter (pm) emissions, increasing application in non-automotive sectors (e.g., industrial processes), expansion of aftermarket for catalytic converters and replacement parts. Major trends in the forecast period include integration of selective catalytic reduction (scr) technology, development of advanced substrates, lightweight and compact converter designs, onboard diagnostics (obd) and emission monitoring, integration of catalytic converters in exhaust system design.

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Scope Of Catalytic Converter Market
The Business Research Company’s reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Catalytic Converter Market Overview

Market Drivers –
Stringent emission and fuel efficiency regulations propel the growth of the catalytic converter market. To address the environmental concerns, governments have enacted strict rules, laws, and heavy fines in order to curb growing fuel emissions, which has propelled demand for catalytic converters. For instance, in 2020, the US Environmental Protection Agency and the Department of Transportation announced a new rule on vehicle pollution standards to combat climate change, resulting in increased demand for catalytic converters and thereby contributing to the catalytic converter market growth.

Market Trends –
For the effective treatment of reducing harmful gas emissions and protecting the environment, modern catalytic converters are adopting nanoparticle-based catalytic converters, and this is a key trend gaining popularity in the catalytic converter market. Modern catalytic converters use nanomaterials of platinum as nano-platinum, palladium as nano-palladium, rhodium as nano-rhodium, and other metals on their inner supports. For instance, Mazda Motor Corporation, a Japan-based automobile company, has introduced a new generation of catalytic converters that employ 70 to 90% fewer precious metals to help purify exhaust pollutants. With the use of nanotechnology, a smaller amount of precious metal is required to provide the same surface area over the catalyst substrate material instead of larger particles.

The catalytic converter market covered in this report is segmented –

1) By Type: Three-Way Catalytic Converter (TWCC), Four-Way Catalytic Converter (FWCC), Diesel Oxidation Catalyst (DOC), Selective Catalytic Reduction (SCR), Lean NOx Trap (LNT)
2) By Material: Palladium, Platinum, Rhodium
3) By Vehicle Type: Passenger Car, Light Commercial Vehicle, Truck, Bus
4) By Off-Highway Vehicle Type: Agricultural Tractors, Construction Equipment, Mining Equipment

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Regional Insights –
Asia-Pacific was the largest region in the catalytic converter market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the catalytic converter market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Key Companies –
Major companies operating in the catalytic converter market include Benteler International AG, Calsonic Kansei Corporation, CDTi Advanced Materials Inc., Continental AG, The Eberspächer Group of Companies, Faurecia PVT. LTD., Futaba Industrial Co. Ltd., Johnson Matthey Plc, Magneti Marelli S.P.A., Tenneco Inc., Umicore N.V., BASF Catalysts LLC, Bosal International NV, Sango Co.Ltd., Yutaka Giken Co. Ltd., General Motors Company, Ford Motor Company, Denso Corporation, Komatsu Ltd., Aisin Seiki Co. Ltd., Eberspächer GmbH Holding & Co. KG, Standard Motor Products Europe Ltd., HJS Emission Technology GmbH & Co. KG, Benteler International AG, Jetex Exhausts Ltd., G & J Steel & Tubing Inc., ComEnCo Systems Inc., SAE Manufacturing Specialties Corp., Rapid Pump & Meter/ Machinery Sales Inc., Eastern Manufacturing Inc., MagnaFlow, Walker Exhaust Systems, AP Exhaust Products Inc., Flowmaster, BORLA Performance Industries, Gibson Performance Exhaust

Table of Contents
1. Executive Summary
2. Catalytic Converter Market Report Structure
3. Catalytic Converter Market Trends And Strategies
4. Catalytic Converter Market – Macro Economic Scenario
5. Catalytic Converter Market Size And Growth
…..
27. Catalytic Converter Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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