Catalytic Converter Market Size, Key Drivers, Share, Trends, Growth, Future Scope Analysis and Forecast To 2023
Global Catalytic Converter Market Size Information Report, By Product (Two-Way Catalytic Converter, Three-Way Catalytic Converter, Diesel Oxidation Catalyst, Others), By Material (Platinum, Palladium, Rhodium, Others), By Application (Entry-Level Segment, Mid-Size Segment, Full-Size Segment) and By Region - Forecast to 2023
(firmenpresse) - Catalytic Converter Market Overview
Automotive catalytic converters are widely used in a passenger vehicle and commercial vehicle. The most proportion of automotive catalytic converters is used for a passenger vehicle for many benefits considering environmental concerns and several other factors.
Key Players
The key players of Catalytic Converter Market Size 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.An (Italy), Bosal International N.V. (Belgium) and others.
Drivers & Trends
The increasing demand coupled with production of vehicles is driving the global Catalytic Converter Market Size multiplied. To this contrary, vehicle manufacturers are primarily focusing on various methods on the elimination of harmful emissions as well as to improve the efficiency of vehicles. Owing to these factors, there has been now stringent emission standard globally regularized by the government to protect the environment and thus preventing hazardous effects of global warming.
Segmentation
In the reports of MRFR, the global Catalytic Converter Market Size is segmented based on product, material, application, and region.
By the mode of product, the market segmentation includes a two-way catalytic converter, three-way catalytic converter, diesel oxidation catalyst, and others. The demand for the three-way oxidation-reduction catalytic converter is steered in the market with the increase in applications for ultralow emissions in the vehicles.
By mode of application, the market segmentation includes an entry-level segment, mid0size segment, and full-size segment.
Regional Outlook
In the reports of MRFR, regionally, the global Catalytic Converter Market Size has covered significant regions of North America, Europe, Asia-Pacific, and rest of the world.
Among them, North America is displaying the largest market share having a stronghold owing to the high presence of automobile manufacturers in this region. Also, increasing technological advancements and high investments in catalytic converters in vehicles are boosting the market growth. With that, the government in this region adhere to laws and regulations over vehicle emissions.
Coming up next is the European region, which is also one of the booming market holders due to the presence of high automobile manufacturers. Rapid research and development activities in this sector have encouraged with the introduction of new catalytic converters adhering to the stringent emission norms. This is contributing a lot to the Catalytic Converter Market Size to grow in the years to come.
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Datum: 13.05.2020 - 13:15 Uhr
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Date of sending: 13/05/2020
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