The Emission Control Catalysts Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Emission Control Catalysts Global Market Report 2024, The emission control catalysts market size has grown rapidly in recent years. It will grow from $24.47 billion in 2023 to $27.19 billion in 2024 at a compound annual growth rate (CAGR) of 11.1%. The growth in the historic period can be attributed to stringent emission regulations, growth in vehicle ownership, increase in industrial emissions, increased public awareness, automotive industry growth.
The emission control catalysts market size is expected to see rapid growth in the next few years. It will grow to $41.24 billion in 2028 at a compound annual growth rate (CAGR) of 11.0%. The growth in the forecast period can be attributed to green hydrogen production, industrial decarbonization, increasing renewable fuels, growing urbanization and air quality, increasing international agreements. Major trends in the forecast period include diesel emission control, zero-emission regulations, selective catalytic reduction (scr) technology, on-board diagnostics (obd) systems, use of integrated systems.
Stringent regulations for controlling air pollution are significantly contributing to the growth of the market for emission control catalysts. Air pollution is mainly caused by rapid industrialization and urbanization, which are responsible for higher emissions in the environment. The governments are more concerned about the adverse effects of air pollution on public health and the environment, so they have implemented regulations to control air pollution, and this has increased the demand for the use of emission control catalysts in the exhaust systems of industrial machinery and vehicles. For instance, in September 2021, the World Health Organization established global air quality guidelines with the goal of saving lives and improving air quality due to pollution. These guidelines highlighted good practises to manage certain types of particulate matter, such as elemental carbon, particles originating from sand, ultrafine particles, and dust storms, to set air quality guideline levels. Therefore, the stringent regulations for controlling air pollution are expected to propel the growth of the emission control catalysts market going forward.
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The emission control catalysts market covered in this report is segmented –
1) Emission Control Catalysts Market By Product: Palladium-based ECC, Platinum-based ECC, Rhodium-based ECC, Other Products
2) Emission Control Catalysts Market By Fuel Type: Diesel Vehicles, Gasoline Vehicles
3) Emission Control Catalysts Market By Application: Mobile Emission Control Catalysts, Stationary Emission Control Catalysts
4) Emission Control Catalysts Market By End User: Automotive and Transportation, Chemical Industry, Oil and Gas Industry, Mining Industry, Power Industry, Other End Users
Top Major Players
Major companies operating in the emission control catalysts market are focusing on production expansion to meet customer demand and gain a competitive edge in the market. The product expansion strategy helps companies increase their market share, improve their brand image, and enhance their profitability. Companies are investing heavily in research and development to develop new and innovative products that are more efficient, cost-effective, and eco-friendly. For instance, in July 2021, BASF SE, a Germany-based chemicals company, announced an investment in the expanded capacity of mobile emissions catalysts at its manufacturing plant in Chennai, India. The investment will nearly double the company’s production capacity for mobile emissions catalysts for the heavy-duty on- and off-road segments. Moreover, it is a positive development for the Indian economy. It will create new jobs and generate investment in the country’s manufacturing sector.
The emission control catalysts market report table of contents includes:
1. Executive Summary
2. Emission Control Catalysts Market Characteristics
3. Emission Control Catalysts Market Trends And Strategies
4. Emission Control Catalysts Market – Macro Economic Scenario
5. Global Emission Control Catalysts Market Size and Growth
……
31. Global Emission Control Catalysts Market Competitive Benchmarking
32. Global Emission Control Catalysts Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Emission Control Catalysts Market
34. Emission Control Catalysts Market Future Outlook and Potential Analysis
35. Appendix
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https://www.thebusinessresearchcompany.com/report/emission-control-catalysts-global-market-report
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