Analysts at GMI Research estimates that the Catalytic Converter Market is projected to grow at CAGR of more than 6.1% during the forecast period from 2022-2029.

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Market Dynamic

Key Drivers and Emerging Trends

Automobiles are considered key contributors to environmental pollution, leading to severe air pollution and global warming issues. To overcome these environmental issues, the government has imposed stringent norms, regulations, and heavy penalties to reduce the rising fuel emission, which has pushed catalytic converter sales globally. For instance, the US Environmental Protection Agency and the Department of Transportation, in 2020, announced a rollback of auto pollution rules to fight with climate change, which has created demand for catalytic converters, thus helping in the expansion of the catalytic converter market share. In addition, high volume of sales and automobile production has significantly contributed to the growth of the market. For instance, domestic vehicles in India are anticipated to reach 55.5 million by the end of 2026 from 16.46 million from 2016, as stated by “India Brand Equity Foundation”, which will surge the demand for catalytic converter market.

Restraint in the Catalytic Converter Market

Electrification of vehicles is the factor that is likely to hamper the overall growth of the market. This is due to the major shift and adoption of electric vehicles supported by government initiatives.

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Product Type – Segment Analysis

Based on the product type, the three-way oxidation-reduction catalytic converter is witnessed to grow at a higher CAGR in the market over the forecast period. The stringent norms have made it all obligatory for all the automotive manufacturers to integrate three-way oxidation-reduction catalytic converter in gasoline-powered vehicles, which has helped in the expansion of the market.

Vehicle – Segment Analysis

Based on the vehicle, the passenger car segment is anticipated to grow at a higher CAGR in the market over the forecast period. This is due to the increasing urbanization along with the rising disposable income in China, India and other developing countries across the globe. China’s resident disposable income rises 5.8% in 2019, from 2016 as stated by NBS data. Majorly Asian countries are giving a boost to the market due to the increasing sales of the vehicles. For instance, according to IBEF, FY18 24.97 million vehicles were sold, and this number showed a spike in next year 2019 which was 26.27 million, projecting the increasing sales of automobiles sold, leading to the expansion of the market.

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Regional – Segment Analysis:

Based on the region, Asia-Pacific is anticipated to grow at a higher CAGR in the market over the forecast period. This is due to the major shift towards the adoption of BSVI engine in India and China as announced by the government bodies for reducing pollution, which has led to the rapid demand for catalytic converters and pushed the pace of the overall market. According to IBEF, India is third largest automobile industry globally, which has pushed the growth of the market.

Top Market Players

Various notable players operating in the market, include, Faurecia, Tenneco, Johnson Matthey, Eberspächer, Umicore, Benteler, Futaba, BSF, Continental, CDTI Materials, among others. 

Key Developments:

• • In 2019, Faurecia, officially launched the heated catalytic converter, with electric heating system which has helped the company in expanding the product offering of the company.

Segments covered in the Report:

The global catalytic converter market has been segmented based on product type, vehicle, and regions. Based on product type, the market is segmented into two-way oxidation catalytic converter, three-way oxidation catalytic converter, and diesel oxidation catalyst. Based on vehicle market is segmented into passenger cars, light commercial vehicles, and heavy commercial vehicles. 

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Key questions answered in this research report:

• • At what pace is global catalytic converter market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in catalytic converter market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global catalytic converter market?
  • Which product type generated maximum revenues in 2021 and identify the most promising product type during the forecast period?
  • What are the various vehicle areas of global catalytic converter market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Revenues Currency	USD Billion
Market Base Year	2021
Market Forecast Period	2022-2029
Base Year & Forecast Units	Revenues (USD Billion)
Market Segment	By Product Type, By Vehicle, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Faurecia, Tenneco, Johnson Matthey, Eberspächer, Umicore, Benteler, Futaba, BSF, Continental, CDTI Materials, among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Catalytic Converter Market by Product Type

• • Two Way Oxidation Catalytic Converter
  • Three Way Oxidation Catalytic Converter
  • Diesel Oxidation Catalyst

Global Catalytic Converter Market by Vehicle

• • Passenger Cars
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles

Global Catalytic Converter Market by Region

• • North America Catalytic Converter Market (Option 1: As a part of the free 25% customization)
    • By Product Type
    • By Vehicle
    • US Market All-Up
    • Canada Market All-Up
  • Europe Catalytic Converter Market (Option 2: As a part of the free 25% customization)
    • By Product Type
    • By Vehicle
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Catalytic Converter Market (Option 3: As a part of the free 25% customization)
    • By Product Type
    • By Vehicle
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Catalytic Converter Market (Option 4: As a part of the free 25% customization)
    • By Product Type
    • By Vehicle
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Catalytic Converter (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Faurecia
  • Tenneco
  • Johnson Matthey
  • Eberspächer
  • Umicore
  • Benteler
  • Futaba
  • BSF
  • Continental
  • CDTI Materials