The Business Research Company’s Automotive Catalytic Converter Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Automotive Catalytic Converter Global Market Report 2023 evaluates automotive catalytic converter market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global automotive catalytic converter market size is expected to grow from $151.85 billion in 2022 to $169.58 billion in 2023 at a compound annual growth rate (CAGR) of 11.67%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the automotive catalytic converter market is expected to reach $229.88 billion in 2027 at a CAGR of 7.90%.
The demand for zero-emission vehicles is driving the automotive catalytic converter market. The zero-emission vehicles refer to the modes of transportation that, in which vehicles operate, produce no hazardous emissions that hurt the environment or human health. The increase in global warming due to harmful gases emitted by vehicles has increased the demand for zero-emission vehicles. To reduce hazardous emissions, catalytic converters use reduction and oxidation (redox) reactions, using a reduction catalyst made of platinum and rhodium, which removes nitrogen atoms from nitrogen oxide molecules (NO and NO2). For instance, in June 2022, according to the new ZEV sales data in California, published by California Energy Commission, a US-based energy policy and planning agency, 1,45,099 light duty zero emission vehicles were sold in California in 2020, which increased to 2,50,279 in 2021. Therefore, the demand for zero-emission vehicles will drive the growth of the automotive catalytic converter market.
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The automotive catalytic converter market segments in the report are:
1) By Type: Two-Way Catalytic Converter, Three-Way Catalytic Converter, Other Types
2) By Material Type: Platinum, Palladium, Rhodium
3) By Vehicle Type: Two/Three Wheeler, Passenger Vehicle, Light Duty Vehicle, Medium And Heavy Duty Trucks, Bus And Coaches
4) By Sales Channel: Aftermarket, Original Equipment Manufacturer (OEM)
The table of contents in TBRC’s automotive catalytic converter market report includes:
1. Executive Summary
2. Automotive Catalytic Converter Market Characteristics
3. Automotive Catalytic Converter Market Trends And Strategies
4. Automotive Catalytic Converter Market – Macro Economic Scenario
5. Automotive Catalytic Converter Market Size And Growth
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26. Africa Automotive Catalytic Converter Market
27. Automotive Catalytic Converter Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Automotive Catalytic Converter Market
29. Automotive Catalytic Converter Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
- Tenneco
- Yutaka Giken
- Sango Co. Ltd
- Faurecia SE
- BASF SE
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