Global Automotive Catalytic Converter Market 2018-2022
NEW YORK, Dec. 6, 2018 /PRNewswire/ -- 108 pages, November 2018
About this market
Globally, approximately 90% of the passenger vehicles are equipped with catalytic converters. The global automotive industry registered sales of 70.85 million units of passenger vehicles in 2017, with a growth rate of 1.93% compared with 2016. In terms of geography, APAC dominated the global passenger vehicles sales with approximately 40.74 million units, followed by Europe with nearly 17.93 million units and the Americas with approximately 11.30 million units, China, the US, and Japan led the global sales of passenger vehicles and accounted for approximately 50% of the sales in 2017. Thus, the increasing volume sales of passenger vehicles fuel the growth of the global automotive catalytic converter market.
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Market Overview
Emergence of advanced emission control solutions for aftermarket
The increasing focus on environmental pollution caused by automobiles drives developments in vehicle exhaust systems. Stringent emission standards have led to the development of advanced emission control systems and energy-efficient vehicles that cause less pollution.
High cost of development and replacement of catalytic converters
The extensive use of automotive electronics and advanced materials, as well as the implementation of advanced processes and machinery in automobile design, development, and manufacturing, has led to the growth of the global automotive industry. Modem automobiles are safe and energy- and fuel-efficient. These developments, however, have increased the cost of automobiles. Automotive catalytic converters have evolved in terms of design and components used.
For the detailed list of factors that will drive and challenge the growth of the automotive catalytic converter market during the 2018-2022, view our report.
Competitive Landscape
The market appears to be fragmented and with the presence of several companies including Eberspächer and Katcon the competitive environment is quite intense. Factors such as the emergence of advanced emission control solutions for aftermarket, will provide considerable growth opportunities to automotive catalytic converter manufactures. Continental, FAURECIA, Magneti Marelli, Tenneco, Eberspächer, and Katcon are some of the major companies covered in this report.
Read the full report: https://www.reportlinker.com/p03076105
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