The global industrial catalytic converter market is estimated to expand at a robust CAGR during the forecast period. The growth of the market due to the expansion of the automotive industry, increasing adoption of gas and pollutants filters, and rising implementation of strict regulations on vehicle emission control norms. Focus of automotive OEMs on the production of low-cost and low-emission catalytic converters for exhaust systems and high investments in R&D are expected to boost the market. Rise in emissions of polluting or greenhouse gases substances such as CO2 and NOx particles from vehicles into the environment is serious environment concern that propel the demand for industrial catalytic converters. These converters are exhaust ejection controllers that eliminate poisonous pollutants from an enclosed oxidization turbine and use precious metals as catalysts to reduce the emission of harmful gases from the engine.
The report on the global industrial catalytic converter market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.
Attributes | Details |
Report Title | Global Industrial Catalytic Converter Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year | 2020 |
Historic Data | 2018 & 2019 |
Forecast Period | 2021–2026 |
Segmentation | Types (FWCC, TWCC, SCR, DOC, and LNT), Materials (Platinum, Palladium, and Rhodium), Vehicle Types (In-market [Passenger Cars, Light Commercial Vehicles, Trucks, and Busses], Aftermarket [Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles], and Off Highway [Agricultural Tractors, Construction Equipment, and Mining Equipment]) |
Regional Scope | Asia Pacific, North America, Europe, Latin America, and Middle East & Africa |
Report Coverage | Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast |
Key Players Covered in the Report | Faurecia, Tenneco, Continental, Eberspächer, Johnson Matthey, Umicore, Futaba, BAEF, CDTI Materials, and Benteler International |
In terms of types, the global industrial catalytic converter market is segmented into FWCC, TWCC, SCR, DOC, and LNT. The SRC segment is expected to account for large market share during the forecasted period, as the technology provides benefits including greater NOx reduction than LNT, which is around 88%, and thus is mostly favored in diesel vehicles across the world. SCR has a maximum installation rate in Europe and North America owing to the ongoing emission norms such as Euro 6 and Tier 3 individually.
On the basis of materials, the market is fragmented into platinum, palladium, and rhodium. The platinum segment is anticipated to grow at a rapid pace during the projected period as the material is extensively used to eliminate nitrogen oxide and carbon monoxide from the exhausts of the cars. The use of the material for various applications in the automotive industry is a key aspect for the segment growth.
On the basis of vehicle types, the global industrial catalytic converter market is segregated into in-market, aftermarket, and off highway. The in-market segment is further categorized into passenger cars, light commercial vehicles, trucks, and busses. The aftermarket segment is classified into passenger cars, light commercial vehicles, and heavy commercial vehicles. The off-highway segment is split into agricultural tractors, construction equipment, and mining equipment. The in-market segment is expected to dominate the market during the forecasted period owing to wide use of passenger cars and rapid expansion of commercial vehicles globally.
In terms of regions, the market is divided into Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Europe is projected to account for large share of the market due to the high acceptance of diesel passenger cars and LCVs in the region. However, the market of Asia Pacific is expected to hold significant share of the global market owing to wide adoption of the advanced technology by major vehicle producing centers from China, India, and Japan. The regional market growth is mostly influenced by growing urbanization, increasing GDP, and industrialization.
Segments Covered in the Report:
By Types
By Materials
By Vehicle Types
By Regions
By Regions
Key market players in the global industrial catalytic converter market are Faurecia, Tenneco, Continental, Eberspächer, Johnson Matthey, Umicore, Futaba, BAEF, CDTI Materials, and Benteler International. These key players are actively engaged in various market expansion activities such as partnerships, acquisitions, and product launches to increase their market share.
Segments Covered in the Report:
By Types
By Materials
By Vehicle Types
By Regions
By Regions
Key market players in the global industrial catalytic converter market are Faurecia, Tenneco, Continental, Eberspächer, Johnson Matthey, Umicore, Futaba, BAEF, CDTI Materials, and Benteler International. These key players are actively engaged in various market expansion activities such as partnerships, acquisitions, and product launches to increase their market share.
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