Growing Demand of Catalytic Converter MarketÂ

1. Catalytic Converter Market worth 55.16 Billion USD by 2021 The catalytic converter market is projected to grow at a CAGR of 8.05% from 2016 to 2021, to reach a market size of USD 55.16 Billion by 2021. Stringent fuel efficiency norms, increasing vehicle demand, and production are the major drivers for the catalytic converter market. Browse 90 market data tables and 61 figures spread through 164 pages and in-depth TOC on "Catalytic Converter Market -Global Forecast to 2021" https://www.marketsandmarkets.com/Market-Reports/catalytic-converter-systems-market-128255548.html Early buyers will receive 10% customization on reports. “Selective Catalytic Reduction (SCR) is projected to be the largest catalytic converter type” SCR is projected to dominate the catalytic converter market, in terms of value, by 2021. SCR is commonly used in diesel fueled vehicles. Asia-Oceania and Europe are the leading regions with the highest number of diesel powered vehicles, and hence, these regions are leading the global SCR market. Additionally, Europe has implemented the Euro 6 regulations, in which NOx emission limits have been reduced to 0.08 g/kWh (light-duty diesel vehicles) from 0.18 g/kWh in Euro 5. This is close to 97% reduction, as compared with the 1990 NOx limits. Countries such as India and China, who are leaders in global vehicle production, also have plans to upgrade their regulations equivalent to Euro 6 by 2020. This would drive the demand for SCR in these markets, as the technology has benefits over its peer Lean NOx Trap (LNT). Heavy Commercial Vehicle (HCV) is the fastest growing vehicle type in the catalytic converter market. HCV segment is a major source of vehicular emissions. It requires diesel oxidation catalyst for removing carbon monoxide (CO) and hydrocarbons (HC). Additionally, diesel vehicles require either SCR or LNT for removal of NOx. The adoption of diesel emission technology is growing in the wake of stringent emission regulations. Palladium is the fastest growing segment in the catalytic converter market, by material type. It is used as an oxidation catalyst and is also one of the cheapest precious metals. It is widely used in gasoline catalytic converter technology. The demand for palladium is driven by the growth of the catalytic converter market. Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownload.asp?id=128255548

2. “Asia-Oceania region is the leading market in terms of catalytic converter demand” Asia-Oceania is estimated to dominate the catalytic converter market for the automotive industry, as the region represents countries such as China, Japan, South Korea, and India with the world’s highest vehicle production. According to the Organisation Internationale des Constructeurs d Automobiles (OICA) publication, these countries together contributed ~48% to the global vehicle production in 2015. Additionally, Asia-Oceania has created promising opportunities for automobile manufacturers and automotive component suppliers. Request Sample Copy @ https://www.marketsandmarkets.com/requestsample.asp?id=128255548 About MarketsandMarkets™ MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve. MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. Contact: Mr. Shelly Singh MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441 sales@marketsandmarkets.com