Automotive Catalytic Converter Market Size $297.02 Billion By 2032 | CAGR: 8.1%

Automotive Catalytic Converter Market Size Worth $297.02 Billion By 2032 | CAGR: 8.1%


The global automotive catalytic converter market size is expected to reach USD 297.02 billion by 2032, according to a new study by Polaris Market Research. The report “Automotive Catalytic Converter Market Share, Size, Trends, Industry Analysis Report, By Type (Two-Way Oxidation, Three-Way Oxidation-Reduction Catalytic Converter); By Catalyst; By Vehicle Type; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The automotive catalytic converter industry is projected to grow in the coming years due to technological advancements and an increase in automobile production in emerging economies like China and India. The strict emissions-related regulations enforced by governments and authorities across the globe, along with the growing consciousness among automobile users, have also played a part in the market's positive growth.

The continuous advancement of science in catalytic converter technology has led to the development of advanced catalyst materials, improved design configurations, and innovative production procedures. These advancements are crucial in enhancing the performance and efficiency of catalytic converters. The development of advanced catalyst materials allows for more efficient conversion of harmful emissions into less harmful substances. Improved design configurations ensure that the catalytic converter can effectively reduce emissions while minimizing pressure drop and maximizing flow rates. Innovative production procedures help in creating catalytic converters that are more durable and reliable. Such factor drives the growth of the global automotive catalytic converter market.

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The strict emission norms set by regulatory and government agencies, such as the US Environmental Protection Agency (EPA), present an opportunity for catalytic converter manufacturers. These regulations aim to prevent and reduce carbon emissions, particularly in the automotive sector, where emissions are a significant concern. Catalytic converters play a crucial role in reducing emissions, allowing manufacturers to meet these stringent requirements. As the demand for automobiles is expected to continue increasing in the coming years, catalytic converter manufacturers have a significant opportunity to supply their products to meet this demand while helping vehicle manufacturers comply with global emission standards. This regulatory environment creates a favorable market for catalytic converters, as manufacturers and consumers alike prioritize environmentally friendly solutions. As a result, there is a growing need for advanced catalytic converter technologies that can effectively reduce emissions and contribute to a cleaner environment.

Automotive Catalytic Converter Market Report Highlights

  • The three-way oxidation-reduction segment dominated the market in 2023, driven by advancements in material science and catalytic converter technology. Continuous research and development efforts have led to the emergence of novel catalyst compositions and enhanced designs for converters.
  • The palladium segment led the market in 2023 and is expected to maintain its dominance. It is highly effective in catalyzing the oxidation of hydrocarbons, making it a valuable component in catalytic converters.
  • Europe holds a significant revenue share in the global Automotive Catalytic Converter market, driven by stringent emission regulations such as Euro-VI and the rapid pace of research and development.
  • The global key market players include BASF SE, BENTELER International A.G, BM Catalysts Limited, BOSAL, Marelli Corporation, Calsonic Kansei, Eberspächer, European Exhaust & Catalyst Ltd, FORVIA Faurecia, HJS Emission Technology GmbH & Co. KG, and Jetex Exhausts Ltd.

Polaris Market Research has segmented the Automotive Catalytic Converter market report based on type, catalyst, vehicle type and region:

Automotive Catalytic Converter, Type Outlook (Revenue - USD Billion, 2019 - 2032)

  • Two-Way Oxidation
  • Three-Way Oxidation-Reduction
  • Diesel Oxidation

Automotive Catalytic Converter, Catalyst Outlook (Revenue - USD Billion, 2019 - 2032)

  • Platinum
  • Rhodium
  • Palladium
  • Others

Automotive Catalytic Converter, Vehicle Type Outlook (Revenue - USD Billion, 2019 - 2032)

  • Commercial
  • Passenger

Automotive Catalytic Converter, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Rest of Europe
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Australia
  • Rest of Asia Pacific
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Rest of Latin America
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa
  • Rest of Middle East & Africa

Automotive Catalytic Converter Market Report Scope

Report Attributes

Details

Market size value in 2024

USD 159.74 billion

Revenue forecast in 2032

USD 297.02 billion

CAGR

8.1% from 2024 – 2032

Base year

2023

Historical data

2019 – 2022

Forecast period

2024 – 2032

Quantitative units

Revenue in USD billion and CAGR from 2024 to 2032

Segments covered

By Type, By Catalyst, By Vehicle Type, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

Customization

Report customization as per your requirements with respect to countries, region and segmentation.

For Specific Research Requirements

Request for Customized Report