Two-Wheeler Catalytic Converter Market to Grow by USD 560.7 Million (2024-2028), Driven by Stricter Emission Norms & AI Impact on Market Trends- Technavio Report

NEW YORK, Oct. 14, 2024 /PRNewswire/ -- Report with market evolution powered by AI- The global two-wheeler catalytic converter market size is estimated to grow by USD 560.7 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of about 5.6%  during the forecast period. Increasing stringency of emission norms for two-wheelers is driving market growth, with a trend towards emergence of dual-sport motorcycles. However, high penetration of low-cost bikes  poses a challenge. Key market players include ACAT Global LLC, Akrapovic d.d., BASF SE, Continental AG, Munjal Auto Industries Ltd., Scorpion Exhausts Ltd., Shilpa Enterprises, and Varroc Engineering Ltd..

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The two-wheeler industry is experiencing heightened competition, leading to the introduction of new motorcycle models in various segments. One sub-segment that has gained traction among motorcycle enthusiasts is dual-sport motorcycles. These motorcycles offer versatility, making them suitable for both on-road and off-road use. Equipped with large displacement multicyclinder engines and effective catalytic converters, these motorcycles deliver optimal performance. Honda Motor, Kawasaki, and Yamaha Motor are some prominent manufacturers in this segment. The demand for dual-sport motorcycles is on the rise in North America, Europe, and certain APAC economies due to regional demographics. For instance, the Honda CRF300L and Kawasaki KLR 650 are popular models, with the former offering an Anti-lock Braking System variant and a lowered seat for wider accessibility. The Suzuki DR650S is another dependable option, with new solid black and gray bodywork for the 2023 model year. The emergence of dual-sport motorcycles is anticipated to fuel the growth of the global two-wheeler catalytic converter market during the forecast period. 

The two-wheeler catalytic converter market is witnessing significant growth due to increasing emissions from internal combustion engines. Three-way and four-way catalytic converters are popular emission control devices used in two-wheelers to reduce harmful toxic gases like carbon monoxide, nitrogen oxides, and hydrocarbons. These converters use precious metals such as palladium, platinum, and rhodium to promote chemical reactions in the catalytic chamber. Three-way converters use a lean NOx catalyst and a lean NOx trap for selective catalytic reduction. Diesel oxidation catalysts are also used in some two-wheelers to meet stricter emission norms. The market for catalytic converters is driven by environmental standards and concerns over air quality. Recycling of precious metals from used converters, also known as urban mining, is a growing trend in the aftermarket. Economic conditions and emission monitoring are key factors influencing the market. Heavy-duty two-wheelers and automotive manufacturers are investing in advanced emission control devices to meet vehicle pollution standards. 

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•         The two-wheeler catalytic converter market is significantly influenced by the motorcycle markets in developing countries like China and India. These countries account for a large portion of global motorcycle sales in volume. However, the dominance of commuter-class motorcycles, which are mostly less than 125 cc and not mandated to have catalytic converters, poses a challenge to this market. The focus on producing economical and efficient vehicles for short-distance travel in these countries makes the inclusion of catalytic converters a cost concern. For instance, BS 6 motorcycles and scooters are more expensive than their BS 4 counterparts. As a result, the increasing penetration of entry-level commuter motorcycles in China and India may negatively impact the growth of the two-wheeler catalytic converter market during the forecast period.

•         The two-wheeler catalytic converter market faces unique challenges in emissions control. Internal combustion engines produce toxic gases like carbon monoxide, nitrogen oxides, and hydrocarbons. Three-way and four-way catalytic converters use precious metals such as palladium, platinum, and rhodium to convert these gases into harmless emissions. However, meeting stringent vehicle pollution standards requires advanced technologies like selective catalytic reduction and lean NOx traps. Heavy-duty two-wheelers pose additional challenges due to their larger engines and higher emissions. Economic conditions impact the aftermarket for catalytic converters, as well as the demand for emission monitoring and emission control devices. Recycling precious metals from used catalytic converters, also known as urban mining, is an emerging trend for sustainability and cost savings. Automotive manufacturers continue to innovate, developing new emission control solutions to meet evolving environmental standards. Emissions remain a critical issue for air quality, making this market a key focus for reducing vehicular emissions and mitigating environmental pollution.

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This two-wheeler catalytic converter market report extensively covers market segmentation by  

1. Application 
• 1.1 Entry level
• 1.2 Mid-size
• 1.3 Full size
2. Product 
• 2.1 Palladium
• 2.2 Platinum
• 2.3 Others
3. Geography 
• 3.1 APAC
• 3.2 North America
• 3.3 Europe
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Entry level-  The Two-Wheeler Catalytic Converter market is experiencing steady growth due to increasing regulations on emissions. Manufacturers are focusing on producing efficient converters to meet these standards. Key players in this market include Bosch, CAT, and Denso. They are investing in research and development to improve catalytic converter technology and reduce costs. The market is expected to reach significant growth by 2025.

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The Two-Wheeler Catalytic Converter Market is witnessing significant growth due to increasing emission norms and consumer awareness towards environmental pollution caused by toxic gases from internal combustion engines. Catalytic converters, including three-way and four-way types, play a crucial role in reducing emissions of carbon monoxide, nitrogen oxides, and hydrocarbons. Lean NOx catalysts and Lean NOx traps, using Palladium, Platinum, and Rhodium, are gaining popularity for their effectiveness in controlling NOx emissions. Selective Catalytic Reduction (SCR) technology is another advanced emission control solution for two-wheelers. Economic conditions and infrastructure development also influence the market's growth. The catalytic converter chamber is an essential component of the exhaust system, and its malfunctioning can lead to increased emissions. Emission norms continue to evolve, driving the demand for more efficient and effective catalytic converters.

The two-wheeler catalytic converter market refers to the use of emission control technologies, such as Selective Catalytic Reduction (SCR), Lean NOx Catalysts, and Lean NOx Traps, in two-wheeler exhaust systems. These catalytic converters help reduce toxic gases, including carbon monoxide, nitrogen oxides, and hydrocarbons, produced by internal combustion engines. Emission norms and economic conditions drive the demand for these converters to meet environmental pollution standards. The catalytic converter consists of a catalyst chamber within the exhaust system, where precious metals like palladium, platinum, and rhodium catalyze the conversion of emissions into less harmful gases. Three-way and four-way catalytic converters, diesel oxidation catalysts, and SCR systems are commonly used. The aftermarket for these converters is significant, with emission monitoring and vehicle pollution standards driving demand. The recycling of precious metals from spent catalytic converters, also known as urban mining, is an emerging trend in the industry. Heavy-duty two-wheelers and emission control devices are also key areas of focus in the market.

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Application
• Entry Level
• Mid-size
• Full Size
• Product
• Palladium
• Platinum
• Others
• Geography
• APAC
• North America
• Europe
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

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SOURCE Technavio