Global Catalytic Converter Market is expected to grow with 7.5% CAGR during the forecast period:
Market research future published a raw research report on Global Catalytic Converter Market that contains the information from 2017 to 2023. The Catalytic Converter Market is expected to grow with the CAGR of approximately 7.5% from 2017 to 2023.
Taste the market data and market information presented through more than 80 market data tables and figures spread in 140 numbers of pages of the project report. Avail the in-depth table of content & market synopsis on “Global Catalytic Converter Market Information from 2017 to 2023"
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A catalytic converter is a device that uses a catalyst to convert harmful compounds in car exhaust into harmless compounds. It is located in the vehicles exhaust system. The market for catalytic converter is driven by the increase in the stringency of emission norms for automotive. The increase in the level of vehicular emissions is leading the governments of emerging countries to increase the stringency of the emission standards. This in turn is expected to increase the need for catalytic converters across automobiles. Automobiles are being equipped with advanced substrates for compliance with the proposed emission standards. Amongst all applications, the mid-sized segment is expected to dominate the catalytic converter market. The mid-size segment is basically suitable for riders who are willing to look for quality sports performance and for long distance travelling. The region is expected to grow rapidly during the forecast period, owing to the increasing preferences for road trip tourism and adventure tourisms. Now-a-days, Two wheeler Catalytic converter gaining popularity. Two-Wheeler Catalytic Converter is a device which is placed within the exhaust pipe of a two-wheeler and controls the amount of toxic pollutants by causing a redox reaction and converting harmful exhaust gases to less toxic gases.
Palladium-based catalytic converters
The market has been analyzed based on products, materials, applications and regions. Platinum, palladium, and rhodium have historically been the key active components used in catalytic converters. Amongst all materials, the palladium-based catalytic converter is expected to grow rapidly among all catalytic converter materials. Palladium, which is currently the cheapest of the three metals and has excellent activity for the oxidation of hydrocarbons as well as it has very good thermal durability. The material is more reactive at higher temperatures, which facilitates better oxidation.
The key players of global catalytic converter market are Faurecia SA (France), Benteler International AG (Germany), Eberspächer Group (Germany), Calsonic Kansei Corporation (Japan), Yutaka Giken Company Limited (Japan), Tenneco, Inc. (U.S.), Futaba Industrial Co., Ltd. (Japan), Sango Co., Ltd (Japan), Magneti Marelli S.p.A (Italy), Bosal International N.V. (Belgium) and others.
This research report has provides the insights, on various levels of analyses such industry analysis, market share analysis leading market players and their profiles. This report also helps in studying the target segments by providing views on emerging & high-growth segments and market conclusion. Together the market data comprise and discuss with the basic assessments on the competitive scenarios & strategies, of the global Catalytic converter Market, including the high-growth regions, countries and their political, economic and technological environments. Furthermore the project report also provides the views over the historical market values as well as, pricing and cost analysis of the same.
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