Auto catalyst- Description
Automotive catalysts are used to reduce the emission of significant hazardous substances from vehicle exhaust systems, such as carbon monoxide, nitrogen oxide, and hydrocarbons.
At high temperatures, catalysts change the exhaust gases from moving automobiles into less hazardous compounds. Several materials, including platinum, palladium, rhodium, and ceramics, are used to make automotive catalysts.
Global Auto catalyst Market- Overview
The Global Auto Catalyst Market is presently worth USD 27.7 billion and is poised to amplify at a CAGR of 4.24% over 2022-2030, thereby amassing a valuation of USD 42.6 billion by end of the assessment timeline.
The number of automobiles in use has increased as a result of rising per capita GDP and disposable income worldwide. The demand for automobile parts is increasing quickly with the rate of motorization. In order to reduce pollutants, auto catalysts have become an essential component of automobiles.
Auto catalysts were intended to last the whole life of the vehicle, but as automotive technologies have advanced, vehicle longevity has risen, necessitating the replacement of auto catalysts after a predetermined amount of time. A second factor driving up demand for replacement auto catalysts is the rising accident rate. The global market for automotive catalysts is being driven by this rise in demand from OEMs and aftermarket segments.
Global Auto catalyst Market- Key trends
Increase in automobile production will drive the market expansion
Additionally, the expansion of the auto catalyst market is being aided by an increase in automotive production, particularly in developing nations. Another element driving the expansion of the auto catalyst market is the rise in per capita vehicle ownership. The demand for and production of electric vehicles are expected to significantly increase, which would likely limit the growth of the market for auto catalysts. The market for auto catalysts powered by petroleum is constrained by the rise of electric vehicles.
Rise in number of vehicles has increased tail-pipe emissions will help the market growth
The number of vehicles on the road has increased tailpipe emissions, which has a negative impact on air quality and people’s health. Exhaust gas restrictions have tightened up globally as a result of the increased awareness of the environment. For instance, more recent emission rules like EURO 6, BS 6, and China 6 are currently in effect and require automakers to lower their vehicles’ particulate and gaseous emissions without sacrificing engine performance or raising the price of the vehicle by including complex technologies.
Global Auto catalyst Market- Segmental assessment
By metal types
• Platinum
• Palladium
• Rhodium
• Others
By engine types
• Gasoline engine
• Diesel engine
• Others
by vehicle type
• Passenger car
• Light commercial vehicle (LCV)
• Heavy commercial vehicle (HCV)
• Motorcycle
Global Auto catalyst Market- Geographical landscape
The major regions constituting the geographical ambit of this business sphere are North America, Middle East & Africa, Europe, Asia Pacific, and South America. Among these, Asia-Pacific is projected to capture a substantial revenue share over 2022-2030.
Global Auto catalyst Market- Competitive landscape
The prominent companies defining the competitive terrain of this marketplace are Umicore, BASF SE, Johnson Matthey, CATALER CORPORATION, Clariant, CDTi Advanced Materials, Inc., Cummins Inc., Heraeus Holding, INTERKAT Catalyst GmbH, Tenneco Inc., IBIDEN, N.E. CHEMCAT, Magneti Marelli S.p.A, BOSAL, CRI Catalyst Company LP, Ecocat India Pvt. Ltd., Eberspächer, Klarius Products Ltd., Ecocat India Pvt. Ltd., BOSAL, Sinocat Environmental Technology Co., Ltd., and others.
Report scope
Global Auto catalyst Market: Historical Years- 2018-2021
Global Auto catalyst Market: Forecast Years- 2022-2030
Global Auto catalyst Market 2022- USD 27.7 billion
Global Auto catalyst Market 2030- USD 42.6 Billion
Global Auto catalyst Market CAGR- 4.24%
Key segments covered-
1) By metal type (platinum, palladium, rhodium, and others).
2) By engine type (gasoline engine, diesel engine, and others).
3) By vehicle type (passenger car, light commercial vehicle (LCV), heavy commercial vehicle (HV), motorcycle).
Major regions and countries reported-
1) North America (U.S., Canada, and Mexico)
2) South America (Brazil, Argentina, and Colombia)
3) Europe (Germany, U.K., France, Italy, Spain, and Russia)
4) Middle East & Africa (UAE, Saudi Arabia, Egypt, and South Africa)
5) Asia Pacific (China, Japan, India, Australia, South Korea, and ASEAN)
Top players profiled- Umicore, BASF SE, Johnson Matthey, CATALER CORPORATION, Clariant, CDTi Advanced Materials, Inc., Cummins Inc., Heraeus Holding, INTERKAT Catalyst GmbH, Tenneco Inc., IBIDEN, N.E. CHEMCAT, Magneti Marelli S.p.A, BOSAL, CRI Catalyst Company LP, Ecocat India Pvt. Ltd., Eberspächer, Klarius Products Ltd., Ecocat India Pvt. Ltd., BOSAL, Sinocat Environmental Technology Co., Ltd., and others.
Analysis of the impact of COVID-19 and the Russia-Ukraine War:
The readers of this section will be better informed on the effects of the pandemic, the post-pandemic, and the Russia-Ukraine War on the global market for refrigerated freight services. The factors that have changed since the poll was done include demand, consumption, transportation, consumer behavior, and supply chain management. Industry experts have also emphasized the crucial factors that will help players identify opportunities and maintain the sector as a whole in the approaching years.
Reasons to Get this Report:
The analysis covers global market and its advancements across different industry verticals as well as regions. It targets estimating the current market size and growth potential of the global market across sections such as also application and representatives.
In an insight outlook, this research report has dedicated to several quantities of analysis – industry research (global industry trends) and global market share analysis of high players, along with company profiles, and which collectively include about the fundamental opinions regarding the market landscape; emerging and high-growth sections of global market; high-growth regions; and market drivers, restraints, and also market chances.
Additionally, the analysis also has a comprehensive review of the crucial players on the global market together side their company profiles, SWOT analysis, latest advancements, and business plans.
