The report of Automotive Catalyst Market by Type (Platinum, Palladium, Rhodium), Vehicle Type (Light-duty Vehicles, Heavy-duty Vehicles), and Region (North America, Europe, Middle East & Africa, South America, Asia Pacific) is expected to reach US$ 69.06 Bn by 2027, at a CAGR of 5.5 % during a forecast period.
Automotive Catalyst is used for controlling emission of vehicle. The Catalyst absorbs harmful carbon emission and fuel vapor. Vehicle engine exhaust gases are absorbed by Catalyst and converted into less harmful gases which reduce pollution due to vehicle exhaust gases. Governments are implementing new stringent rules for emission control to comply the Paris Climate Accord formed by group of 195 countries. The Paris Climate Accord aims to reduce global temperature 2OC.
Global Automotive Catalyst Market: Company overview
BASF expanded their site in Środa, Poland in 2017, which is mobile emission catalysts production unit. This expansion of site is increased the manufacturing space about 14000 Sq.m.
The Umicore commissioned new plant in Poland to increase their manufacturing capacity, in 2016, Europe region introducing new emission laws and regulations, which creates advance technology products advance three way catalysts(TWC) and Selective Catalytic reduction.
Global Automotive Catalyst Market: Drivers
Increasing demand of automotive vehicle is fueling the market of Global Automotive Catalyst Market.
Government rules related to pollution control getting severe increasing market of Automotive Catalyst.
Expanding vehicle production is surging the market of replacement and maintenance of vehicle increases Catalyst market.
Demand of higher efficiency vehicle and reducing size of component is increasing Global Automotive Catalyst Market.
Global Automotive Catalyst Market: Restraints
Increasing demand of electric vehicle may hamper the growth of Global Automotive Catalyst Market.
Increasing public transport may reduce growth of passenger vehicle, negatively impact growth of Global Automotive Catalyst Market.
Global Automotive Catalyst Market: Vehicle Type
By vehicle type segment market is further segmented into two major group Light Duty Vehicle and Heavy Duty Vehicle. The Light Duty vehicle has major market share. The Light Duty Vehicle is showing Automotive Catalyst Market growth with CAGR xx% Most of the Light Duty vehicle operates on gasoline fuel. About 92 millions of Light Duty Vehicle produced worldwide in 2019.
Global Automotive Catalyst Market: Regional Overview
Asia-Pacific has dominance over the Global Automotive Catalyst Market, owing to leadership in passenger vehicle segment and large number of manufacturers. Countries like India, China and Japan has majority of population using vehicle and the government there are trying to reduce pollution by implementing severe rules on vehicles. Some of the countries in APAC region will ban use of Diesel vehicle in future.
Europe and North America implementing severe rules and rising standards of pollution control. So this region witness demand of Automotive Catalyst.
Key players operating in the Automotive Catalyst Market are BASF SE, Johnson Matthey, Umicore, Tenneco Inc, CDTi Advanced Materials, Inc, Cummins Inc, Eberspcher, Ecocat India Pvt. Ltd, Klarius Products Ltd, Clariant, Cataler, Cummins, Heraeus, INTERKAT, Tenneco.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive
research about the Automotive Catalyst Market. The report encompasses the market by different segments and regions, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics and future opportunities that might exist in the Automotive Catalyst Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors has been taken into consideration for enhancing market know-how of our clients and at the same time explains Automotive Catalyst Market positioning of competitors.
Browse the market data Tables and Figures spread through a comprehensive research report and in-depth TOC on “Automotive Catalyst Market.”
https://www.maximizemarketresearch.com/market-report/global-automotive-catalyst-market/13599/
Contact:
MAXIMIZE MARKET RESEARCH PVT. LTD.
Omkar Heights,
ManikBaug, Vadgaon Bk,
Sinhagad Road, Pune – 411051, Maharashtra, India.
+91 9607195908