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What Are The Predicted Market Size And Growth Rates For The Automotive Catalytic Converter Market?
The automotive catalytic converter market has seen considerable growth recently. It will rise from $176.45 billion in 2024 to $191.04 billion in 2025, at a compound annual growth rate (CAGR) of 8.3%. The historic period growth is mainly attributed to environmental concerns, automotive industry growth, emission standards evolution, a rise in vehicle ownership, and the development of cleaner fuels.
The automotive catalytic converter market is predicted to witness significant growth in the upcoming years. It is expected to reach $279.1 billion in 2029, growing at a compound annual growth rate (CAGR) of 9.9%. The forecast period growth can be ascribed to market penetration in new vehicle types, integration of AI and IoT, rising awareness of air quality, shift to Euro 7 standards, and innovation in materials and manufacturing. The transition to green vehicles, lightweight materials and design, adoption of next-gen catalysts, integrated emission control solutions, focus on durability and longevity are some significant trends to watch out for.
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What Drives The Growth Of The Automotive Catalytic Converter Market?
The increasing demand for zero-emission vehicles is driving the growth of the automotive catalytic converter market. These vehicles are eco-friendly as they do not produce harmful emissions that can harm human health or the environment. With global warming on the rise due to gases emitted by vehicles, the demand for zero-emission vehicles has surged, leading to growth in the automotive catalytic converter market.
What Segments Are Covered In This Automotive Catalytic Converter Market Report?
1) By Type: Two-Way Catalytic Converter, Three-Way Catalytic Converter, Other Types
2) By Material Type: Platinum, Palladium, Rhodium
3) By Vehicle Type: Two Or Three Wheeler, Passenger Vehicle, Light Duty Vehicle, Medium And Heavy Duty Trucks, Bus And Coaches
4) By Sales Channel: Aftermarket, Original Equipment Manufacturer (OEM)
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Who Are The Key Players In The Automotive Catalytic Converter Market?
Major players in the automotive catalytic converter market include Tenneco Inc., Yutaka Giken Company Limited, Sango Co. Ltd., Faurecia SE, BASF SE, Johnson Matthey Group, Eberspächer Group, Bosal International, BENTELER International AG, Friedrich Boysen GmbH & Co. KG, Wuxi Weifu Lida Catalytic Converter Co., Ltd., Eberspaecher GmbH Holding & Co. KG, Continental AG, European Exhaust and Catalyst Ltd., Deccats, Magneti Marelli S.p.A., Calsonic Kansei Corporation, Katcon S.A. de C.V., Futaba Industrial Co. Ltd, Boysen Ltd., Sejong Industrial Co.Ltd., Hanwoo Industrial Co. Ltd, Umicore NV, Corning Incorporated, Clean Diesel Technologies Inc., DCL International Inc., Dinex A/S, HJS Emission Technology GmbH & Co. KG, Klarius Products Ltd., MagnaFlow, MANN+HUMMEL, NGK Insulators Ltd., Sogefi SpA.
What Trends Are Emerging In The Automotive Catalytic Converter Industry?
Strategic partnerships between industry players is a rising trend in the automotive catalytic converter market. For instance, ACAT Global Inc., a US-based industrial machinery and catalytic converter manufacturing company, partnered with the Automotive Service Councils of California, a US-based, non-profit organization of automotive service professionals in May 2022.
Which Region Is The Fastest-Growing In The Automotive Catalytic Converter Market?
Asia-Pacific was the largest region in the automotive catalytic converter market in 2024. North America is expected to be the fastest-growing region. The regions covered in the automotive catalytic converter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Makes The Automotive Catalytic Converter Market Report 2025 Stand Out?
An automotive catalytic converter is a device that uses a catalyst to convert three harmful compounds into harmless ones. It consists of three essential components- rare-earth-based elements, alumina and precious metals, all of which enhance the metal’s catalytic activity.
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