Sales of Automotive Catalytic Converter Devices Are Predicted To Surge At A CAGR of 7.8% by 2032

Posted on 2022-11-18 by Fact.MR in Automotive // 0 Comments

Sales of automotive catalytic converter devices across the world are predicted to surge at a CAGR of 7.8% between 2022 and 2032. Currently, the global automotive catalytic converter devices market accounts for a valuation of US$ 53.26 billion and is expected to reach US$ 112.86 billion by the end of 2032.

Catalysts used in converters are usually palladium, rhodium, platinum, and others. As palladium has a low cost and better selectivity & activity than other materials, it is the most widely used catalyst in automotive converters.

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Competitive Landscape

The main growth tactics of automotive catalytic converter device manufacturers include product launches, alliances and cooperation, company growth, acquisitions, and R&D. One of the main techniques used by major industry players is product launch. It aids businesses in extending their market reach and continuously offering customers cutting-edge items.

Automotive catalytic converter device providers are using cutting-edge distribution techniques by providing online catalogues rather than delivering directly to automakers.

For instance :

Global leader in vehicle catalytic converters – Tenneco, Inc. – made the strategic choice to relocate its Ontario and Georgia factories to Ohio. As part of an endeavor to restructure its worldwide production footprint towards increased operational performance and to address changing market dynamics and capacity requirements, Tenneco, Inc. has planned to close its OE (original equipment) ride control plants.

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Key Companies Profiled :

Benteler International AG
Tenneco Inc.
Faurecia SA
BASF Catalysts
Clean Diesel Technologies
Katcon
Marelli Holdings Co., Ltd.
FUTABA INDUSTRIAL CO., LTD.
BOSAL
Jetex Exhausts Ltd
Sango Co., Ltd.

Key Segments Covered in Automotive Catalytic Converter Devices Industry Research

Automotive Catalytic Converter Devices Market by Material :
- Platinum
- Rhodium
- Palladium
- Others
Automotive Catalytic Converter Devices Market by Product :
- Diesel Oxidation Catalytic Converters
- Two-way Oxidation Catalytic Converters
- Three-way Oxidation Reduction Catalytic Converters
Automotive Catalytic Converter Devices Market by Sales Channel :
- OEMs
- Aftermarket
Automotive Catalytic Converter Devices Market by Region :
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa

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