Auto Catalyst Market: Growth Trends by Manufacturers, Regions, Type and Application, Forecast, 2017-2023
Research Reports
Jan 09, 2021
Market Overview:
Auto catalysts are used in the automobile industry to convert the harmful emissions from vehicles into less toxic materials. It is extensively used in the exhaust systems of automobiles and can also be used in electrical generators mining equipment and fork lifts among others. The growth of automobile production across the globe is vitally affecting the growth of the auto catalyst market.
Market Scope
The global auto catalyst market is driven by its application in exhaust systems of mining equipment, forklifts, automobiles, electrical generators, and wood stoves. Large disposable income levels of customers and the burgeoning production of automobiles can drive market growth. Stringent government regulations pertaining to emission levels can be lucrative for the market. Pacts and agreements between countries for lowering emissions will be opportunistic for prominent players of the global auto catalyst market.
Market Scenario:
The light duty vehicle diesel segment followed by the light-duty vehicle gasoline is anticipated to observe a higher CAGR during the forecast period. The growing per capita disposable income coupled with the shifting of the automotive manufacturing base into the developing regions are the major factor attributing to the growth of the market.
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Segmental Analysis:
The global auto catalyst market is segmented into application and region. On the basis of the application, the market is segregated into light-duty vehicle diesel, light-duty vehicle gasoline, and heavy-duty vehicle. The market by region is segmented into Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa.
Key Players:
Some of the prominent players operating in the global Auto catalyst market are BASF SE (Germany), Johnson Matthey (England), Solvay (Belgium), Umicore (Belgium), Corning Incorporated (U.S.), Cataler Corporation (Japan), DCL International (Canada), Heraeus Holding GmbH (Germany), Tenneco Inc (U.S.), Faurecia S.A (France), Klarius Products Limited (U.K), and Taizhou Three-Way Vehicle Catalytic Converter Co., Ltd (China). among others.
Geographical Analysis:
The report covers brief analysis of the major geographic regions namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.
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Competition Outlook
Tenneco Inc, Solvay, BASF SE, Cataler Corporation, Umicore, Corning Incorporated, Klarius Products Limited, Taizhou Three-Way Vehicle Catalytic Converter Co., Ltd, DCL International, Johnson Matthey, Heraeus Holding GmbH, and Faurecia S.A are notable players of the global auto catalyst market. Partnerships are expected to be witnessed between automotive manufacturers and these players to ensure their adherence to latest environmental regulations.
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