Auto Catalyst Market Analysis, Size By Material, By Application, By Geographic Scope And Forecast 2030
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.
The global auto catalyst market is being driven by growing
number of automobiles throughout the globe. Moreover, it is estimated
that the light-duty vehicle- diesel is set to witness the highest growth due to
the growing consumption of the fuel-efficient diesel cars globally.
Market Segmentation:
The global Auto Catalyst Market
Analysis 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.
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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Regional Analysis:
The global auto catalyst market analysis is spanned across five key
regions: Asia Pacific, North America, Europe, Latin America, and the Middle
East & Africa. Among these, Asia Pacific holds a major share of the market
and is expected to be the fastest growing region at a considerably higher CAGR.
The presence of the most populated countries of the world such as India and
China in this region has augmented the demand for automobiles, which, in turn,
is anticipated to fuel the demand for auto catalyst in the region. Moreover,
the shifting of the automotive manufacturing base into the region owing to the
cheap labor and encouraging government regulations is also contributing to the
growth of the market.
The European region is estimated to witness a significant growth
during the forecast period. The increasing use of auto catalyst owing to the
strict EU regulations is driving the market growth. The implementation of Euro
6 and Euro 7 guidelines is further adding to the market growth. According to
the European Union, car sales in 2017 grew by 3.6%.
The North American auto catalyst market is mainly driven by the
U.S. and Canada. The presence of the developed automobile industry and
increasing adoption rate is contributing significantly to the growth of the
market. Moreover, the growing light-duty vehicle in the region coupled with the
stringent federal emission regulations is also expected to fuel the market
growth.
Competitive Analysis:
Some of the prominent players operating in the global Auto
catalyst market analysis 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.
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