Catalytic Converter Market 2018
Catalytic Converter Market Share, Size, Trends, And Business Opportunity Analysis Report 2018 include historic data, with forecast data to 2022. Catalytic Converter Market report is helpful for future strategy development, and to know about Market Drivers, Restraints, Opportunities, And Global market size, share, Growth, Trends, key players forecast to 2022
Global Catalytic Converter Market 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
Market Scenario:Catalytic converter is a device used in the exhaust system of an automobile for the removal of harmful gases such as carbon monoxide, nitrogen oxide and hydrocarbon from it. The catalytic converter also helps in improving the efficiency of vehicles.
The major driver for the growth of the catalytic converter market can be attributed to the introduction of stringent rules and regulations by the government of various nations worldwide with the objective of protecting the environment and preventing the hazardous effects of global warming. The increase in demand for automobiles is also driving the growth of the catalytic converter market. The huge investments made by the automobile manufacturers for research and development so as to reduce the effect of harmful gases emitted from the vehicles can also be associated with the growth of the market.
The catalytic converter market is expected to grow over the CAGR of around 7.5% during the period 2017 to 2023.
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Key Players:The key players of catalytic converter market 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.A (Italy), Bosal International N.V. (Belgium) and others.
Regional Analysis:
The Europe region is expected to dominate the catalytic converter market owing to the high presence of automobile manufacturers in the region. Rapid research and development activities along with the introduction of stringent emission norms such as Euro-VI is contributing to the growth of the catalytic converter market in the Europe region. The Asia-Pacific region is also expected to grow rapidly in the market as the developing nations of the region are emerging as a hub for the automobile manufacturers.
Industry/ Innovation/ Related News:
The key strategies followed by most companies within the global Catalytic Converter market are that of new product development.
In May 2017, Honeywell International Inc. introduced Honeywell Garrett Redboost series of turbochargers for the Chinese independent aftermarket.
In June 2016, Continental AG introduced its first turbocharger with the innovative RAAX turbine technology for Audi A3's new 2.0-litre gasoline engine.
Catalytic Converter Market – Segmentation
The global Catalytic Converter market is segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Product : Comprises Two-Way Catalytic Converter, Three-Way Catalytic Converter, Diesel Oxidation Catalyst, Others.
Segmentation by Material : Comprises Platinum, Palladium, Rhodium, Others.
Segmentation by Application : Comprises Entry-Level Segment, Mid-Size Segment, Full-Size Segment.
Segmentation by Regions : Comprises Geographical regions - North America, Europe, APAC and Rest of the World.
The report for Catalytic Converter Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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