The catalytic converter market was valued at USD 12 billion in 2020, and it is expected to reach USD 18 Billion by 2026, registering a CAGR of more than 7% during the forecast period 2021-2028
Catalytic converter reduces the emissions in the automobiles by removing toxic compounds such as carbon monoxide, nitrogen oxide, and hydrocarbon from the exhaust system of vehicles.
The increasing demand for passenger cars along with the rising stringency in emission norms is the factor that has supported long-term expansion for Catalytic Converter Market.
The COVID-19 pandemic had a huge impact on the market, owing to the decrease in the number of new passenger and commercial vehicles sold across the world. With different restrictions implemented, even the aftermarket sales of the catalytic converter did not account for good business in 2020. However, with the projected increase in preference for individual mobility, the market expects to grow back to normal economic conditions post-pandemic.
Asia Oceania has the largest market share of vehicle production with about 54–56% of the total vehicle production. China, India, and Japan are the largest vehicle production hubs because of rising urbanization, increasing GDP, and industrialization among others. With the growing vehicle production, vehicle emissions have also increased significantly.
Insights are provided for each region and major countries within the regions
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Report Feature |
Descriptions |
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Growth Rate |
CAGR of 7% during the forecasting period, 2021-2026 |
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Historical Data |
2018-2019 |
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Forecast Years |
2021-2028 |
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Base Year |
2020 |
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Units Considered |
Revenue in USD billion and CAGR from 2021 to 2026 |
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Report Segmentation |
converter type, vehicle type, off-highway vehicle type, material, aftermarket and region. |
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Report Attribute |
Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling |
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Regional Level Scope |
North America, Europe, Asia-Pacific, South America, and Middle East and Africa |
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Country Level Scope |
U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe) |
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Companies Profiled |
Faurecia SA, BASF Catalysts LLC, Eberspaecher GmbH Holding & Co., Magneti Marelli S.P.A, Tenneco Inc., Benteler International AG, Calsonic Kansei Corporation and Standard Motor Products Europe Ltd. |
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Available Customization |
In addition to the market data for Catalytic Converter Market, Delvens offers client-centric report and customized according to the company’s specific demand and requirement. |
Catalytic Converter Market is segmented into catalytic converter type, aftermarket vehicle type, off-highway vehicle type, material, aftermarket and region.
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