Catalytic Converter Market - Industry Analysis, Market Size, Share, Trends,Application Analysis, Growth and Forecast 2020 - 2025

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Overview

The Catalytic Converter market size is forecast to reach $ 76.24 billion by 2025 growing at a CAGR of 8.21% during the forecast period 2020-2025. The Growth of Catalytic Converter industry can be attributed to the phenomenal growth of automotive market, increasing adoption of gas and pollutants filters and rising stringency in Vehicle emission control norms. Significant focus of automotive OEMs towards the production of low-cost and low-emission catalytic converters for the exhaust system coupled with high investments in R&D is expected to propel the growth of Catalytic Converter Market. Furthermore, rising demands of population for performance aftermarket automotive parts, particularly in the internal combustion engine will also aid the growth of the catalytic converter market during the forecast period.

Key Takeaways

  • Catalytic Converter market is growing at the highest rate in Asia Pacific followed by North America and Europe owing to the rising requirement of emission controlling products.
  • Palladium and Rhodium are the preferred type of materials that are used for the manufacture of catalytic converters which accounts for 80% of the category share.
  • Stringent emission and fuel efficiency regulations implemented by governments of various nations is expected to fuel the growth of catalytic converter market.
  • Associated high cost of the raw material may create hurdles for the catalytic converter market.

 Type - Segment Analysis

On the basis of type, Selective Catalytic Reduction segment has been analyzed to grow at the highest CAGR of 6.34 % during the forecast period 2020-2025. The SCR technology offers benefits including enhanced NOx reduction than LNT by nearly 90%, and hence, it is mostly preferred in diesel vehicles across the globe. SCR has maximum installation rate in European and North American countries owing to the ongoing emission norms such as Euro 6 and Tier 3 respectively. Europe has a large adoption rate of diesel passenger cars and LCVs. Thus, it has a higher installation rate of SCRs compared to other regions. Moreover, owing to the ongoing and upcoming stringent emission norms in developing countries such as China, India, and Thailand, the demand for SCRs is expected to increase significantly across all diesel vehicle types during the forecast period.

Application - Segment Analysis

By vehicle type, the Passenger Car segment is expected to dominate the Catalytic Converter Market with the highest CAGR of 7.52% during the forecast period 2020-2025 owing to its largest share in vehicle production all over the world. An increase in the sales of passenger cars would lead to an increased demand for automotive catalytic converter units. APAC has a low penetration rate for various aftertreatment devices compared to Europe and North America which is estimated to provide growth opportunity for catalytic converter in the APAC region. The growth of the passenger car market of China and India is driving the market for automotive catalytic converter in these countries.

Geography - Segment Analysis

The Asia-Pacific region is estimated to contribute to the majority of shares in the catalytic converter market accounting for 52.46 % during the forecast period 2020-2025. The Asia-Pacific has the largest share of vehicle production with about 54–56% of the total vehicle production. Within that global sale of cars accounted for 78.6 million in 2018 of which 39.3 million were sold in APAC. China, India, and Japan are the largest vehicle production hubs because of rising urbanization, increasing GDP, and industrialization among others. With the growing vehicle production, vehicle emissions have also increased significantly. Considering this, few countries such as China, Japan, and India have implemented vehicle emission norms. For instance, China and India are currently running on China IV and BS IV. However, they are planning to implement China VI and BS VI by 2020 which is equivalent to Euro VI. Moving toward strict emission norms will create a huge demand for various aftertreatment devices. In APAC region, China and Japan are the leading countries for the market, by aftertreatment device.

Drivers – Catalytic Converter Market

·         Rising penetration of downsized commercial vehicle engines to drive Catalytic Converter Market growth.

The imposition of stringent emissions regulations and increasing demand for fuel-efficient vehicles are driving commercial vehicle manufacturers to downsize heavy engines of commercial vehicles with advanced turbochargers to increase engine output considerably. OEMs are making engines that partly deactivate the cylinders to reduce fuel consumption during operations. Commercial vehicles with downsized engines are equipped with advanced after-treatment systems that include better and more expensive catalytic converters, systems that increase the rates of exhaust gas recirculation, and denser particulate filters .These factors will lead to the development of better and more advanced catalytic converters capable of regulating the vehicle's emission levels.

·         Preference for roadways for freight transportation to aid Catalytic Converter Market.

The increased demand for transporting freight through roads are leading freight operators to increase their fleet of commercial vehicles which in turn boost the demand for Catalytic Converters. For instance, according to U.K’s Domestic Road Freight Statistics Report 2018, Goods moved in the UK by GB-registered heavy goods vehicles (HGVs) by end of December 2018, increased by 3% to 152 billion tonne kilometers compared with the previous year. Increased global urbanization rates lead to a trend of increased consumption in an economy. About 58% of the global population resided in urban and semi-urban areas in 2018.

Challenges – Catalytic Converter Market.

·         Emergence of electric vehicles may hamper the Catalytic Converter Market growth.

The global automotive catalytic converter market is a derived market as the growth or decline of the market depends on the number of passengers and commercial vehicles (including LCVs and MHCVs) sold. All internal combustion vehicles must have a catalytic converter for treating harmful gases that are a result of combustion. The increasing ownership of electric vehicles over internal combustion vehicles poses a challenge to the Catalytic Converter Market growth.

Market Landscape

Expansion, new product development, partnership, along with mergers & acquisitions are the major strategies adopted by the key players in the Catalytic Converter Market. The catalytic converter market is dominated by the global players and comprises several regional players. Some of the key players in the market are Faurecia (France), Tenneco (US), Continental (Germany), Eberspächer (Germany), Johnson Maththey (UK), Umicore (Belgium), Futaba (Japan), BAEF (Germany), CDTI Materials (US), and Benteler International (Austria) among others.

Product Launches / Collaborations / R&D activities

  • In November 2017, Faurecia announced the launch of a new electrically heated catalytic converter which is poised to debut in 2019. The major feature of the new converter is an electric heating system that raises the efficiency of the catalyst even when the engine is cold or idling in traffic.
  • In December 2017, Tenneco Automotive India announced an investment of Rs 50 crore in new Sanand plant. Tenneco set up its first high level sub-assembly plant at Sanand for exhaust systems to service Ford India in the vicinity, at a cost of Rs 20 crore.
  • In February 2018, Diversified Environmental Catalysts Inc. (DEC) announced Acquisition of PaceSetter Exhaust Systems.  The new alliance will enhance DEC’s research and development of new products, cementing its current positions as the go-to companies for first-to-market, highest quality aftermarket exhaust products, and direct fit catalytic converters.

1. Catalytic Converter Market - Overview
        1.1 Definitions and Scope
2. Catalytic Converter Market - Executive summary
        2.1 Market Revenue, Market Size and Key Trends by Company
        2.2 Key Trends by type of Application
        2.3 Key Trends segmented by Geography
3. Catalytic Converter Market
        3.1 Comparative analysis
            3.1.1 Product Benchmarking - Top 10 companies
            3.1.2 Top 5 Financials Analysis
            3.1.3 Market Value split by Top 10 companies
            3.1.4 Patent Analysis - Top 10 companies
            3.1.5 Pricing Analysis
4. Catalytic Converter Market - Startup companies Scenario Premium
        4.1 Top 10 startup company Analysis by
            4.1.1 Investment
            4.1.2 Revenue
            4.1.3 Market Shares
            4.1.4 Market Size and Application Analysis
            4.1.5 Venture Capital and Funding Scenario
5. Catalytic Converter Market - Industry Market Entry Scenario Premium
        5.1 Regulatory Framework Overview
        5.2 New Business and Ease of Doing business index
        5.3 Case studies of successful ventures
        5.4 Customer Analysis - Top 10 companies
6. Catalytic Converter Market Forces
        6.1 Drivers
        6.2 Constraints
        6.3 Challenges
        6.4 Porters five force model
            6.4.1 Bargaining power of suppliers
            6.4.2 Bargaining powers of customers
            6.4.3 Threat of new entrants
            6.4.4 Rivalry among existing players
            6.4.5 Threat of substitutes
7. Catalytic Converter Market -Strategic analysis
        7.1 Value chain analysis
        7.2 Opportunities analysis
        7.3 Product life cycle
        7.4 Suppliers and distributors Market Share
8. Catalytic Converter Market - By Product Type(Market Size -$Million / $Billion)
        8.1 Market Size and Market Share Analysis
        8.2 Application Revenue and Trend Research
        8.3 Product Segment Analysis
            8.3.1 Three Way Catalyst
            8.3.2 Selective Catalytic Reduction
            8.3.3 Diesel Oxidation Catalyst
            8.3.4 Lean NOX Trap
9. Catalytic Converter Market - By Material(Market Size -$Million / $Billion)
9.1 Platinum
9.2 Palladium
9.3 Rhodium
9.4 Other Metals
10. Catalytic Converter - By Application Type(Market Size -$Million / $Billion)
        10.1 Segment type Size and Market Share Analysis
        10.2 Application Revenue and Trends by type of Application
        10.3 Application Segment Analysis by Type
11. Catalytic Converter- By Geography (Market Size -$Million / $Billion)
        11.1 Catalytic Converter Market - North America Segment Research
        11.2 North America Market Research (Million / $Billion)
            11.2.1 Segment type Size and Market Size Analysis
            11.2.2 Revenue and Trends
            11.2.3 Application Revenue and Trends by type of Application
            11.2.4 Company Revenue and Product Analysis
            11.2.5 North America Product type and Application Market Size
                  11.2.5.1 U.S
                  11.2.5.2 Canada
                  11.2.5.3 Mexico
                  11.2.5.4 Rest of North America
        11.3 Catalytic Converter- South America Segment Research
        11.4 South America Market Research (Market Size -$Million / $Billion)
            11.4.1 Segment type Size and Market Size Analysis
            11.4.2 Revenue and Trends
            11.4.3 Application Revenue and Trends by type of Application
            11.4.4 Company Revenue and Product Analysis
            11.4.5 South America Product type and Application Market Size
                  11.4.5.1 Brazil
                  11.4.5.2 Venezuela
                  11.4.5.3 Argentina
                  11.4.5.4 Ecuador
                  11.4.5.5 Peru
                  11.4.5.6 Colombia
                  11.4.5.7 Costa Rica
                  11.4.5.8 Rest of South America
        11.5 Catalytic Converter- Europe Segment Research
        11.6 Europe Market Research (Market Size -$Million / $Billion)
            11.6.1 Segment type Size and Market Size Analysis
            11.6.2 Revenue and Trends
            11.6.3 Application Revenue and Trends by type of Application
            11.6.4 Company Revenue and Product Analysis
            11.6.5 Europe Segment Product type and Application Market Size
                  11.6.5.1 U.K
                  11.6.5.2 Germany
                  11.6.5.3 Italy
                  11.6.5.4 France
                  11.6.5.5 Netherlands
                  11.6.5.6 Belgium
                  11.6.5.7 Denmark
                  11.6.5.8 Spain
                  11.6.5.9 Rest of Europe
        11.7 Catalytic Converter - APAC Segment Research
        11.8 APAC Market Research (Market Size -$Million / $Billion)
            11.8.1 Segment type Size and Market Size Analysis
            11.8.2 Revenue and Trends
            11.8.3 Application Revenue and Trends by type of Application
            11.8.4 Company Revenue and Product Analysis
            11.8.5 APAC Segment - Product type and Application Market Size
                  11.8.5.1 China
                  11.8.5.2 Australia
                  11.8.5.3 Japan
                  11.8.5.4 South Korea
                  11.8.5.5 India
                  11.8.5.6 Taiwan
                  11.8.5.7 Malaysia
                  11.8.5.8 Hong kong
                  11.8.5.9 Rest of APAC
        11.9 Catalytic Converter - Middle East Segment and Africa Segment Research
        11.10 Middle East & Africa Market Research (Market Size -$Million / $Billion)
            11.10.1 Segment type Size and Market Size Analysis
            11.10.2 Revenue and Trend Analysis
            11.10.3 Application Revenue and Trends by type of Application
            11.10.4 Company Revenue and Product Analysis
            11.10.5 Middle East Segment Product type and Application Market Size
                  11.10.5.1 Israel
                  11.10.5.2 Saudi Arabia
                  11.10.5.3 UAE
            11.10.6 Africa Segment Analysis
                  11.10.6.1 South Africa
                  11.10.6.2 Rest of Middle East & Africa
12. Catalytic Converter Market - Entropy
        12.1 New product launches
        12.2 M&A s, collaborations, JVs and partnerships
13. Catalytic Converter Market - Industry / Segment Competition landscape Premium
        13.1 Market Share Analysis
            13.1.1 Market Share by Country- Top companies
            13.1.2 Market Share by Region- Top 10 companies
            13.1.3 Market Share by type of Application - Top 10 companies
            13.1.4 Market Share by type of Product / Product category- Top 10 companies
            13.1.5 Market Share at global level - Top 10 companies
            13.1.6 Best Practises for companies
14. Catalytic Converter Market - Key Company List by Country Premium
15. Catalytic Converter Market Company Analysis
        15.1 Market Share, Company Revenue, Products, M&A, Developments
        15.2 Benteler International AG
        15.3 Bosal International NV
        15.4 Calsonic Kansei Corporation
        15.5 Eberspacher Group
        15.6 Faurecia SA
        15.7 Futaba Industrial Co. Ltd.
        15.8 Magneti Marelli S.P.A.
        15.9 Sango Co.Ltd.
        15.10 Tenneco Inc.
        15.11 Yutaka Giken Co. Ltd.
        15.12 Company 11
        15.13 Company 12 & More
*Financials would be provided on a best efforts basis for private companies
16. Catalytic Converter Market - Appendix
        16.1 Abbreviations
        16.2 Sources
17. Catalytic Converter Market - Methodology
        17.1 Research Methodology
            17.1.1 Company Expert Interviews
            17.1.2 Industry Databases
            17.1.3 Associations
            17.1.4 Company News
            17.1.5 Company Annual Reports
            17.1.6 Application Trends
            17.1.7 New Products and Product database
            17.1.8 Company Transcripts
            17.1.9 R&D Trends
            17.1.10 Key Opinion Leaders Interviews
            17.1.11 Supply and Demand Trends

List of Tables

1 US Catalytic Converter Market Size 2018
2 Canada Catalytic Converter Market Share 2018
3 Brazil Catalytic Converter Market Outlook 2019 - 2023
4 Mexico Catalytic Converter Market Research 2018
5 Germany Catalytic Converter Market Trends 2019 - 2023 
6 France Catalytic Converter Market Growth 2019 - 2023 
7 UK Catalytic Converter Market Demand 2019 - 2023 
8 Italy Catalytic Converter Market Segmentation 2018
9 Russia Catalytic Converter Market Analysis 2019 - 2023
10 China Catalytic Converter Market Revenue 2019 - 2023
11 Japan Catalytic Converter Market Volume 2019 - 2023
12 South Korea Catalytic Converter Market Potential 2019 - 2023
13 India Catalytic Converter Market Leaders 2018
14 Saudi Arabia Catalytic Converter Market Forecast 2019 - 2023 
15 Kuwait Catalytic Converter Market Value 2018

List of Figures

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