The Business Research Company’s report on the Catalytic Converter Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
Which emerging drivers are set to accelerate the growth of the catalytic converter market further?
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.
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What are the key factors influencing the forecasted market size of the catalytic converter industry?
The catalytic converter market size has grown rapidly in recent years. It will grow from $66.08 billion in 2024 to $73.08 billion in 2025 at a compound annual growth rate (CAGR) of 10.6%. The growth in the historic period can be attributed to regulatory mandates for emissions control, 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 $115.29 billion in 2029 at a compound annual growth rate (CAGR) of 12.1%. 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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Who are the leading competitors in the catalytic converter market?
Major companies operating in the catalytic converter 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., 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., HJS Emission Technology GmbH & Co. KG, Jetex Exhausts Ltd., SAE Manufacturing Specialties Corp., Eastern Manufacturing Inc., MagnaFlow, Walker Exhaust Systems, AP Exhaust Products Inc., Flowmaster, BORLA Performance Industries, Gibson Performance Exhaust
Which emerging trends are set to transform the catalytic converter market landscape?
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.
How do different geographies compare in terms of market share and growth potential in the catalytic converter market?
Asia-Pacific was the largest region in the catalytic converter market in 2024. 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.
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Which major segments of the catalytic converter market are experiencing the fastest growth?
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
Subsegments:
1) By Three-Way Catalytic Converter (TWCC): Gasoline Engine TWCC, Light-Duty Vehicle TWCC
2) By Four-Way Catalytic Converter (FWCC): Gasoline Engine FWCC, Heavy-Duty Vehicle FWCC
3) By Diesel Oxidation Catalyst (DOC): Passive DOC, Active DOC
4) By Selective Catalytic Reduction (SCR): Diesel SCR, Ammonia-SCR Systems
5) By Lean NOx Trap (LNT): Gasoline LNT, Diesel LNT
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How is the catalytic converter market defined?
The catalytic converter refers to device used to convert toxic gases into less toxic byproducts. It is helpful in lowering environmental pollution when a catalytic converter contains a chamber known as a catalyst to transform harmful compounds from an exhaust system into harmless gases such as water vapour and carbon dioxide. A catalytic converter is an important mechanical device attached to the exhaust system of all internal combustion engines to minimise the emissions of toxic gases such as carbon monoxide, nitrogen oxides, and hydrocarbons, which mainly use gasoline or diesel for internal combustion.
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