Catalytic Converter Market Growing at a CAGR of 8.05% During 2017 to 2021 - ReportsnReports
PUNE, India, April 11, 2017 /PRNewswire/ --
Catalytic Converter Market is projected to grow at a CAGR of 8.05%, to reach a market size of $ 55.16 billion by 2021. Passenger cars account for almost 74% of total vehicle production globally & Asia-Oceania region leads the catalytic converter market as increasing vehicle production in China and India.
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The catalytic converter market is projected to grow at a CAGR of 8.05%, to reach a market size of USD 55.16 billion by 2021. The implementation of stringent emission norms globally and increasing vehicle production as well as parc are driving the catalytic converter original equipment (OE) market and aftermarket. Alternatively, growing demand for electric vehicles can undermine the demand for catalytic converters.
According to analysis, passenger cars account for almost 74% of the total vehicle production globally. Therefore, the major demand for catalyst converters is generated by passenger car production. In addition, the demand for passenger cars is increasing, especially in emerging countries such as China and India. Also, the share of new gasoline-fueled passenger cars is increasing, as compared to diesel-fueled passenger cars. Therefore, the catalytic converter market for passenger cars is the largest market globally. The growth of this market can be attributed to increasing production and growing consumer preference for passenger cars.
The Asia-Oceania region leads the catalytic converter market, owing to increasing vehicle production in countries such as China and India. Further, the vehicle production in these countries is projected to grow at>6.0% CAGR during the period of next five years. This has led to the increased demand for catalytic converters in this region. To meet this demand, leading catalytic converter manufacturers such as Faurecia SA (France), Tenneco, Inc. (U.S.), and Eberspacher Group (Germany) have set up their manufacturing plants in the region. Thus, owing to the presence of leading tier-1 manufacturers and OEMs, the Asia-Oceania region is estimated to be the largest catalytic converter market globally. Additionally, the rising demand for gasoline fueled passenger cars is expected to have contributed towards the growth of this market.
Breakdown of Primaries:
The study contains insights provided by various industry experts, ranging from catalytic converter component suppliers to catalytic converter manufacturers. The break-up of the primaries is as follows:
- By Company Type-Tier-1 - 64%, Tier-2 - 21%, and Others*-15%
- By Designation- D level - 35%, C level- 40%, and Others**- 25%
- By Region- North America - 44%, Europe - 31%, Asia-Pacific - 25%
Order a copy of Catalytic Converter Market by Type (Three-way Catalytic Converter, Selective Catalytic Reduction, Diesel Oxidation Catalyst, and Lean NOx Trap), Material (Platinum, Palladium, Rhodium), Region, and Aftermarket by Region - Global Forecast to 2021 research report at http://www.reportsnreports.com/purchase.aspx?name=947871 .
Company tiers are based on the value chain; revenue of the company has not been considered. Tier I are catalytic converter manufacturers, while Tier II are material or converter suppliers. Others* include distributors and raw material suppliers.
The report provides detailed profiles of the following companies: Faurecia SA (France), Tenneco, Inc. (U.S.), Benteler International AG (Germany), Magneti Marelli S.p.A (Italy), Eberspacher Group (Germany), Futaba Industrial Co., Ltd. (Japan), Calsonic Kansei Corporation (Japan), Sango Co., Ltd (Japan),Yutaka Giken Company Limited (Japan), Bosal International N.V. (Belgium)
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