Industry Background:
The automotive catalysts used in automotive emission systems to control the emission of various harmful gases include hydrocarbon, nitrogen oxides and other particulate matter from vehicles into the atmosphere. It helps in converting harmful gases into less toxic gases such as nitrogen and carbon dioxide. Emission control regulations issued by various countries government and innovations in automotive catalyst across the world provide lucrative opportunities in the growth of the very market.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | BASF (Germany), Johnson Matthey (United Kingdom), Umicore (Belgium), Cataler (Japan), Cummins (United States), Heraeus (Germany), INTERKAT (Germany), Tenneco (United States), Haldor Topsoe (Denmark), CDTi Advanced Materials Inc. (United States) and Sinocat Environmental Technology Co. Ltd. (China) |
This growth is primarily driven by Growth Driven by Tighter Legislation on Automotive Emission in Developed Nations and The Increase in the Sales and Production of Automobile Globally.
Globally, a noticeable market trend is evident Innovations in Automotive Catalysts by Key Market Players
Major Vendors, such as BASF (Germany), Johnson Matthey (United Kingdom), Umicore (Belgium), Cataler (Japan), Cummins (United States), Heraeus (Germany), INTERKAT (Germany), Tenneco (United States), Haldor Topsoe (Denmark), CDTi Advanced Materials Inc. (United States) and Sinocat Environmental Technology Co. Ltd. (China), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In August 2022, Cummins Inc. (NYSE: CMI), a global power and technology leader, acquired Meritor, a leading global supplier of drivetrain, mobility, braking, aftermarket, and electric powertrain solutions for the commercial vehicle and industrial markets. Inc. was acquired.
In February 2022, BASF and Heraeus formed a joint venture to recover precious metals from spent automotive catalysts. The new company is called BASF HERAEUS (China) Metal Resource Co., Ltd., is 50 % owned by both companies and will be located in Pinghu, China.
Regulatory Insights:
The emission standards are regulated by the Environmental Protection Agency (EPA) in the United States. In Europe, the emission standards are termed as Euro standards. China and India set their own standards which typically mirror Euro emission standards.
Influencing Trend:
Innovations in Automotive Catalysts by Key Market Players and Adoption of Nanotechnology in Catalytic Converters
Market Growth Drivers:
Growth Driven by Tighter Legislation on Automotive Emission in Developed Nations and The Increase in the Sales and Production of Automobile Globally
Challenges:
High Cost of Precious Metals Include Platinum, Palladium and Rhodium Used in Automotive Catalyst
Restraints:
The Growth in the Production of Electric Vehicles Globally
Opportunities:
Increased Focus on Emission Standards and Innovation in Emission Technologies in Emerging Countries
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Automotive Catalyst Market
- Analysis about New Entrants in Automotive Catalyst Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Automotive Catalyst Study Sheds Light on
The Automotive Catalyst Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Automotive Catalyst industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Automotive Catalyst industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.