Auto Catalyst Market Size, Industry Analysis Report By Metal Type (platinum, palladium, rhodium), By Engine Type (gasoline engine, diesel engine), By Vehicle Type (passenger car, light commercial vehicle (LCV), heavy commercial vehicle (HV), motorcycle) & Region – Forecasts By 2030
- PUBLISHED ON
- 2024-09-27
- NO OF PAGES
- 263
- CATEGORY
- Automotive & Transportation
The Global Auto Catalyst Market is presently worth USD 27.7 billion and is poised to amplify at a CAGR of 4.24% over 2022-2030, thereby amassing a valuation of USD 42.6 billion by end of the assessment timeline.
The number of automobiles in use has increased as a result of rising per capita GDP and disposable income worldwide. The demand for automobile parts is increasing quickly with the rate of motorization. In order to reduce pollutants, auto catalysts have become an essential component of automobiles.
Auto catalysts were intended to last the whole life of the vehicle, but as automotive technologies have advanced, vehicle longevity has risen, necessitating the replacement of auto catalysts after a predetermined amount of time. A second factor driving up demand for replacement auto catalysts is the rising accident rate. The global market for automotive catalysts is being driven by this rise in demand from OEMs and aftermarket segments.
Automotive catalysts are used to reduce the emission of significant hazardous substances from vehicle exhaust systems, such as carbon monoxide, nitrogen oxide, and hydrocarbons.
At high temperatures, catalysts change the exhaust gases from moving automobiles into less hazardous compounds. Several materials, including platinum, palladium, rhodium, and ceramics, are used to make automotive catalysts.
Auto catalyst Market - Key Trends
Increase in automobile production will drive the market expansion
Additionally, the expansion of the auto catalyst market is being aided by an increase in automotive production, particularly in developing nations. Another element driving the expansion of the auto catalyst market is the rise in per capita vehicle ownership.
Rise in number of vehicles has increased tail-pipe emissions will help the market growth
The number of vehicles on the road has increased tailpipe emissions, which has a negative impact on air quality and people's health. Exhaust gas restrictions have tightened up globally as a result of the increased awareness of the environment.
Auto Catalyst Market - Segmental Assessment
By Metal Types
• Platinum
• Palladium
• Rhodium
• Others
By Engine Types
• Gasoline engine
• Diesel engine
• Others
By Vehicle Type
• Light commercial vehicle (LCV)
• Heavy commercial vehicle (HCV)
• Motorcycle
Auto Catalyst Market - Geographical Landscape
The major regions constituting the geographical ambit of this business sphere are North America, Middle East & Africa, Europe, Asia Pacific, and South America. Among these, Asia-Pacific is projected to capture a substantial revenue share over 2022-2030.
Auto Catalyst Market - Competitive Landscape
The prominent companies defining the competitive terrain of this marketplace are Umicore, BASF SE, Johnson Matthey, CATALER CORPORATION, Clariant, CDTi Advanced Materials, Inc., Cummins Inc., Heraeus Holding, INTERKAT Catalyst GmbH, Tenneco Inc., IBIDEN, N.E. CHEMCAT, Magneti Marelli S.p.A, BOSAL, CRI Catalyst Company LP, Ecocat India Pvt. Ltd., Eberspächer, Klarius Products Ltd., Ecocat India Pvt. Ltd., BOSAL, Sinocat Environmental Technology Co., Ltd., and others.
1) By metal type (platinum, palladium, rhodium, and others).
2) By engine type (gasoline engine, diesel engine, and others).
3) By vehicle type (passenger car, light commercial vehicle (LCV), heavy commercial vehicle (HV), motorcycle).
Major Regions and Countries Reported-
1) North America (U.S., Canada, and Mexico)
2) South America (Brazil, Argentina, and Colombia)
3) Europe (Germany, U.K., France, Italy, Spain, and Russia)
4) Middle East & Africa (UAE, Saudi Arabia, Egypt, and South Africa)
5) Asia Pacific (China, Japan, India, Australia, South Korea, and ASEAN)
Quality Assurance Process
- We Market Research’s Quality Assurance program strives to deliver superior value to our clients.
We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.
Market Research Process
We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.
To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
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- Form project steering committee
- Assign a senior SR executive as QA Executive
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- Monitor realized value post-project
Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
Frequently Asked Questions
What is the market size and growth projections?
The Auto Catalyst Market is presently worth USD 27.7 billion and is poised to amplify at a CAGR of 4.24% over 2022-2030, thereby amassing a valuation of USD 42.6 billion by end of the assessment timeline.
What are the drivers shaping various markets?
Rise in number of vehicles has increased tail-pipe emissions will help the market growth: - The number of vehicles on the road has increased tailpipe emissions, which has a negative impact on air quality and people's health. Exhaust gas restrictions have tightened up globally as a result of the increased awareness of the environment.
Who are the key competitors of market Players?
Some of the major players operating within the market are Umicore, BASF SE, Johnson Matthey, CATALER CORPORATION, Clariant, CDTi Advanced Materials, Inc., Cummins Inc., Heraeus Holding, INTERKAT Catalyst GmbH, Tenneco Inc., IBIDEN, N.E. CHEMCAT, Magneti Marelli S.p.A, BOSAL, CRI Catalyst Company LP, Ecocat India Pvt. Ltd., Eberspächer, Klarius Products Ltd., Ecocat India Pvt. Ltd., BOSAL, Sinocat Environmental Technology Co., Ltd., and others.
What are the top performing segments, and countries / regions of each of the markets?
The major regions constituting the geographical ambit of this business sphere are North America, Middle East & Africa, Europe, Asia Pacific, and South America. Among these, Asia-Pacific is projected to capture a substantial revenue share over 2022-2030.
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