Updated 2025 Market Reports Released: Trends, Forecasts to 2034 – Early Purchase Your Competitive Edge Today!
How Do The Market Size And Growth Rates of The Global Catalytic Converter Market Look Like?
The catalytic converter market size has grown rapidly in recent years. It expanded from $66.08 billion in 2024 to $73.08 billion in 2025 at a compound annual growth rate (CAGR) of 10.6%. This growth is attributed to regulatory mandates for emissions control, increased awareness over environmental pollution, and the expansion of internal combustion engines, among others.
The catalytic converter market is anticipated to grow to $115.29 billion in 2029 at a CAGR of 12.1%, largely propelled by increased demand for commercial and heavy-duty vehicle emissions control, advanced catalytic converter substrates, and a focus on reducing particulate matter emissions.
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What Are The Key Growth Drivers of The Catalytic Converter Market?
Governments’ stringent emission and fuel efficiency regulations have significantly propelled the growth of the catalytic converter market. Policies, rules, and heavy fines enacted to curb environmental pollution due to fuel emissions have increased the demand for catalytic converters, contributing significantly to market growth.
Which Are the Major Segments of The Global Catalytic Converter Market?
The catalytic converter market is segmented as follows:
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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Which Key Companies Are Dominating The Catalytic Converter Market?
Major companies operating in the market include Benteler International AG, 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., and others.
What Are The Emerging Trends in The Catalytic Converter Market?
Modern catalytic converters adopting nanoparticle-based mechanisms is an emerging trend in the catalytic converter market. Cars like Mazda Motor Corporation have introduced a new generation of catalytic converters that employ 70 to 90% fewer precious metals and use nanotechnology, which requires smaller amounts of precious metal for the same surface area over the catalyst substrate material.
Which Region Features As The Fastest Growing in The Catalytic Converter Market?
Asia-Pacific was the largest and fastest-growing region in the catalytic converter market in 2024. The regions covered in this report also include Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Catalytic Converter Market Report 2025 Offer?
The Catalytic Converter Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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