Catalytic Converter Market Value

1. Growing Environmental Concern to Boost Catalytic Converter Market Growth Summary Global Catalytic Converter Market Information Report, By Product (Two-Way Catalytic Converter, Three- Way Catalytic Converter, Diesel Oxidation Catalyst, Others), By Material (Platinum, Palladium, Rhodium, Others), By Application (Entry-Level Segment, Mid-Size Segment, Full-Size Segment) and By Region - Forecast to 2023 Catalytic Converter Market Scope Market Research Future (MRFR), in its new “Catalytic Converter Market” report, reveals that the worldwide market of catalytic converter is expected to expand at a CAGR of 7.5% through the forecast years from 2017 to 2023. Catalytic converters can effectively reduce the elimination of harmful pollutants produced by automobiles due to the combustion of hydrocarbon-based fossil fuels. The growing concern towards the environment is encouraging automakers for integration of catalytic converters. This is identified as the primary factor that can surge the catalytic converter market. The expansion of the market can also be attributed to the ability of catalytic converters to extend the shelf- life of vehicles. It is observed that the installation price of catalytic converter into automobiles is high. However, as per the Environmental Protection Agency, incorporation of catalytic converter in vehicles can curb health prices to a greater extent, which adds value to the product. As people are inclining towards a healthy lifestyle and are making smart approach towards the same, the sales number of catalytic converters is surging. This is expected to impel the growth of the market across the forecast period. On the contrary, an automobile that holds catalytic converter exhibits reduced fuel-efficacy. It is likely to act as a growth inhibitor for the market. Get Free Sample @ https://www.marketresearchfuture.com/sample_request/2980 Market Key Players MRFR listed some eminent players of the catalytic converter market. They are; Benteler International AG (Germany), Faurecia SA (France), Calsonic Kansei Corporation (Japan), Eberspächer Group (Germany), Tenneco, Inc. (U.S.), Yutaka Giken Company Limited (Japan), Sango Co., Ltd (Japan), Futaba Industrial Co., Ltd. (Japan), Bosal International N.V. (Belgium), Magneti Marelli S.p.A (Italy), and others. The intensifying competition among strong contenders of the market to retain their position is expected to benefit the market. Market Segmental Study The global market of catalytic converter is studied in segments, which are; product, material, and application. By product, the market is segmented into two-way catalytic converter, diesel oxidation catalyst, three-way catalytic converter, and others. The extensive use of diesel oxidation catalyst converters is escalating their sales number. This is expected to accelerate the growth of the market. By material, the market is platinum, rhodium, palladium, and others. The large-scale application of

2. palladium is expected to gain high traction for the catalytic converter market in the assessment period. By application, the market is segmented into entry-level segment, mid-size segment, and full-size segment. The increase in adoption of catalytic converter manufactures by automakers and the rise in inclination of people towards advanced vehicles are expected to fuel the growth of the market in the review period. Detailed Regional Analysis The catalytic converter market value is studied across Asia Pacific, Europe, North America, and the Rest of the World (RoW). Latin America and the Middle East Asia are regions that are included in the RoW study. Europe is expected to show remarkable growth across the forecast span. The existence of a greater number of skilled automobile producers and the availability of robust equipment supporting the same is expected to bolster the catalytic converter market in Europe. Extensive research for making developments in catalytic converters that are more effective is a factor that is expected to spur the regional market. Alongside, the introduction of strict emission norms, such as Euro-VI can also contribute to the expansion of the regional catalytic converter market growth. The increase in the adoption of catalytic converter by automakers in the Asia Pacific region due to growing concern of people towards environmental safeguarding is expected to boost the expansion of the market in the region. In addition, APAC is known to be the automobile manufacturing hub. This can also augment the regional market. Get Full Report @ https://www.marketresearchfuture.com/reports/catalytic-converter-market-2980 About Market Research Future At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions. In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members. Contact Market Research Future Office No. 528, Amanora Chambers Pune – 411028 Maharashtra, India Phone: +1646 845 9312 Email: sales@marketresearchfuture.com