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Catalytic Converter Industry
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Summary Global Catalytic Converter Industry 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 Overview Automotive catalytic converters are widely used in a passenger vehicle and commercial vehicle. The most proportion of automotive catalytic converters is used for a passenger vehicle for many benefits considering environmental concerns and several other factors. Get Free Sample @ https://www.marketresearchfuture.com/sample_request/2980 Key Players The key players of Catalytic Converter Industry are Faurecia SA (France), Benteler International AG (Germany), Eberspächer Group (Germany), Calsonic Kansei Corporation (Japan), Yutaka Giken Company Limited (Japan), Tenneco, Inc. (U.S.), Futaba Industrial Co., Ltd. (Japan), Sango Co., Ltd (Japan), Magneti Marelli S.p.An (Italy), Bosal International N.V. (Belgium) and others. Drivers & Trends The increasing demand coupled with production of vehicles is driving the global Catalytic Converter Industry multiplied. To this contrary, vehicle manufacturers are primarily focusing on various methods on the elimination of harmful emissions as well as to improve the efficiency of vehicles. Owing to these factors, there has been now stringent emission standard globally regularized by the government to protect the environment and thus preventing hazardous effects of global warming. Moreover, factors driving market growth also include technological advancement, new emerging markets, consumer demographics, and significant investments in research and development would provide plentiful growth opportunities in the market during the forecast period.
However, high research & development costs relating to the development of innovative and efficient converters is expected to obstruct the industry growth over the years to come. With this, the increasing adoption of hybrid and electric vehicles is expected to challenge market growth in the future. Segmentation In the reports of MRFR, the global Catalytic Converter Industry is segmented based on product, material, application, and region. By the mode of product, the market segmentation includes a two-way catalytic converter, three-way catalytic converter, diesel oxidation catalyst, and others. The demand for the three-way oxidation-reduction catalytic converter is steered in the market with the increase in applications for ultralow emissions in the vehicles. By the mode of material, the market segmentation includes platinum, palladium, rhodium, and others. Rhodium accounts for 44% of the market share have more efficiency from the toxic exhaust emissions. This is driving the rhodium market for the catalytic converter to the best. By mode of application, the market segmentation includes an entry-level segment, mid0size segment, and full-size segment. Regional Outlook In the reports of MRFR, regionally, the global Catalytic Converter Industry has covered significant regions of North America, Europe, Asia-Pacific, and rest of the world. Among them, North America is displaying the largest market share having a stronghold owing to the high presence of automobile manufacturers in this region. Also, increasing technological advancements and high investments in catalytic converters in vehicles are boosting the market growth. With that, the government in this region adhere to laws and regulations over vehicle emissions. Coming up next is the European region, which is also one of the booming market holders due to the presence of high automobile manufacturers. Rapid research and development activities in this sector have encouraged with the introduction of new catalytic converters adhering to the stringent emission norms. This is contributing a lot to the Catalytic Converter Industry to grow in the years to come.
The Asia Pacific is also on the verge to show some booming factors that would enable the market of catalytic converters to expand wisely. The emerging hub of automobile manufacturers is widening opportunities to flourish and rise in the Asia Pacific region. Key contributor regions in the Asia Pacific region are China, Japan, India, and South Korea. These countries are contributing to the best in global vehicle production with the latest developments by implementing catalytic converters. Industry News March 2019: EnviroLeach Technologies Inc. is pleased to report that it has successfully researched with advances in its formula that have resulted in the selective dissolution of Palladium (Pd) from multi-metal sources into the aqueous solution. Keeping the factor of environmentally friendly chemistry and the process has modified to extract palladium, which is a breakthrough work by the company’s brilliant team of scientists. Recent test work on samples, using modified conditions of Enviroleach’s proprietary chemistry, was carried out to evaluate the extraction of palladium for catalytic converters. Initial testing showed approximately 90% recovery of the contained palladium was achieved in less than 2 hours. 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 +1 646 845 9312 Email: email@example.com