Wilmington, Delaware, Oct. 31, 2023 (GLOBE NEWSWIRE) -- Global Automotive Catalyst Market is estimated to value at US$ 15.6 billion in 2023 and is expected to grow at a moderate CAGR of 3.3% over the forecast period of 2023-2030, according to the published market report by RationalStat
Market Definition, Market Scope, and Report Overview
An automotive catalyst, often referred to as a catalytic converter, is a crucial component of a vehicle's exhaust system designed to reduce harmful emissions from the engine and convert them into less harmful or inert substances before they are released into the atmosphere. Automotive catalysts play a significant role in reducing air pollution and ensuring compliance with environmental regulations.
Stringent emissions standards and regulations imposed by governments worldwide have been a primary driver. These regulations, such as Euro standards in Europe and emissions regulations in the United States and other regions, set limits on the amount of harmful pollutants that vehicles can emit. Automotive catalysts are essential for compliance with these regulations.
- According to a deep-dive market assessment by RationalStat, the global automotive catalyst market has been analyzed on the basis of market segments, including material type, type, vehicle type, engine type, and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the global automotive catalyst market covers market sizes on the basis of market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the global automotive catalyst market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Automotive Catalyst Market: Segmental and Market Share Analysis
- On the basis of engine type, hybrid is expected to dominate the automotive catalyst market by 2028, primarily due to the increasing awareness regarding the benefits of hybrid engines.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 15.6 billion |
| Market Size Forecast | US$ 19.6 billion |
| Growth Rate | 3.3% |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global automotive catalyst market include,
- In April 2023, Klarius expanded its geographical presence by expanding its aftermarkets availability in Ireland, through investing in a wide network of distribution service.
Some of the prominent players and suppliers operating and contributing significantly to the global automotive catalyst market growth include Klarius Products Ltd, CLARIANT, Cummins Inc., CDTi Advanced Materials Inc., Umicore, Cataler Corporation, Tenneco Inc., HELLA GmbH & Co. KGaA, Corning Incorporated, and Johnson Matthey, among others.
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RationalStat has segmented the global automotive catalyst market based on material type, type, vehicle type, engine type, and region
- Global Automotive Catalyst Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Material Type
- Palladium
- Rhodium
- Platinum
- Others
- Global Automotive Catalyst Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Type
- Three-way
- Two-way
- DOC
- Global Automotive Catalyst Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Vehicle Type
- Passenger Vehicles
- Sedan
- Crossover
- Hatchback
- SUV
- Commercial Vehicles
- Light & Medium
- Heavy
- Motorcycles & Other Small Engines
- Passenger Vehicles
- Global Automotive Catalyst Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Engine Type
- Petrol
- Diesel
- Hybrid
- Global Automotive Catalyst Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
- North America Automotive Catalyst Market
- US
- Canada
- Latin America Automotive Catalyst Market
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Automotive Catalyst Market
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Automotive Catalyst Market
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Automotive Catalyst Market
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Automotive Catalyst Market
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Automotive Catalyst Market
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Key Questions Answered in the Automotive Catalyst Report:
- What will be the market value of the global automotive catalyst market by 2030?
- What is the market size of the global automotive catalyst market?
- What are the market drivers of the global automotive catalyst market?
- What are the key trends in the global automotive catalyst market?
- Which is the leading region in the global automotive catalyst market?
- What are the major companies operating in the global automotive catalyst market?
- What are the market shares by key segments in the global automotive catalyst market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client’s needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical dashboards.
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