What is Catalytic Converters Market Scope?
A catalytic converter is a device which reduces the toxic gases from the exhaust system of the vehicles and there mainly function is to remove all the gasses which are hazards for the environment such as carbon monoxide, nitrogen oxide, and hydrocarbon. Catalytic converters are generally used with internal combustion engines fuelled by either gasoline or diesel. The vehicle manufacturers are majorly focusing on eliminating the harmful emissions as well as improving the efficiency of vehicles. Due to stringent emission standards worldwide to protect the environment and prevent the hazardous effects of global warming and the increase in the number of vehicles across the globe navigates the demand of catalytic converter in the market.
Adoption of New Techniques and Tools to Improve the Quantitative and Qualitative Methodologies for Catalytic Converters
Market Growth Drivers:
Stringent Emissions and Fuel Efficiency Regulations, Increasing Aftermarket for Catalytic Converters and Increasing Demand for SCR in Heavy Diesel Engines
Fluctuating Price of Precious Group Metals and Controlling Adulteration in DEF (Diesel Exhaust Fluids)
Increasing Sales of Battery Electric Vehicles
Nanoparticles for Catalytic Reduction, Introduction of Real Drive Emission Tests and Recycling of Automotive Catalysts
The Catalytic Converters market study is being classified by Type (FWCC, TWCC, SCR, DOC and LNT), by Application and major geographies with country level break-up.
Analysts at AMA predicts that Vendors from Global will contribute to the maximum growth of Global Catalytic Converters market throughout the predicted period.
Faurecia (France), Tenneco (United States), Eberspaecher (Germany), Futaba Industrial Co. Ltd (Japan), Delphi (United Kingdom), Johnson-Matthey (United Kingdom), Weifu Group (China), Benteler (Germany), Boysen (Germany), Hirotec (United States) and Eastern (China) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Magneti Marelli (Italy), Calsonic Kanse (United States), Sejong (Korea), Katcon (China), Sango (Japan), Yutaka Giken (Japan), Japhl (China), Shanghai Langt (China) and Harbin Airui (China).
Analyst at AMA have segmented the market study of Global Catalytic Converters market by Type, Application and Region.
On the basis of geography, the market of Catalytic Converters has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
On Dec 20, 2018, BASF invested in a new production facility for mobile emission catalysts at its Pudong site in Shanghai, China. The new 30,000 m2 facility will house multiple manufacturing lines, providing a full range of emission control technologies for heavy- and light-duty vehicle manufacturers. Construction is underway, with operations planned for the end of 2019.
US federal emission standards for engines and vehicles, including emission standards for greenhouse gas (GHG) emissions, are established by the US Environmental Protection Agency (EPA). The EPA authority to regulate engine emissions—and the air quality in general—is based on the Clean Air Act (CAA)., The State of California has the right to adopt its own emission regulations, which are often more stringent than the federal rules. Engine and vehicle emission regulations are adopted by the California Air Resources Board (ARB), a regulatory body within the California EPA. and California is the only state vested with the authority to develop its own emission regulations. Other states have a choice to either implement the federal emission standards or else to adopt California requirements (CAA section 177).
Catalytic Converters Market Study: Important Years
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Major Highlights of Market StudyDemand Determinants:
Identifying top-notch application and business segments that seek high growth potentials in Catalytic Converters Market.Key Strategic Developments:
To target untapped regions more aggressively by focusing on product/service developments, innovation and R & D, new launches, Merger & acquisitions, JVs & partnerships.Forces & Market Dynamics:
Growth drivers, restraints & opportunities available in Catalytic Converters industry is examined with reference relevant market sectors and sub-sectors.
Customization available in this Study:
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To compete effectively, companies also require quantitative estimates of the future growth and qualitative nature of the market. AMA Research features not just specific market sizing estimates, but also includes significant value-added commentary on Technological Trends and Innovations, Regulatory Policies, Market Maturity Indicators, Market Share Movements, New Entrants into the Market & Entry/Exit Barriers, Consumer Demographics, Supporting Company Financial and Cash Flow Planning, Open Up New Markets, To Seize Powerful Market Opportunities, Key Decision in Planning and to Further Expand Market Share, Identify Key Business Segments, Market Proposition & Gap Analysis.