A recent report published by Infinium Global Research on auto catalyst market provides in-depth analysis of segments and sub-segments in global as well as regional auto catalyst market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional auto catalyst market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global auto catalyst market. According to the report the global auto catalyst market is projected to grow at a CAGR of 3.4% over the forecast period of 2018-2024.
Auto catalysts are a substance used in automotive emission systems which transform toxic gases and pollutants into harmless gases before releasing them into the environment. Vehicle exhaust contains a number of harmful elements which can be controlled by autocatalysts. Auto catalysts are used in all types of diesel and petrol engines including lead burn engines and can be used in kerosene heaters and stoves.
Autocatalysts help in converting toxic substances in exhaust gases such as hydrocarbon, carbon monoxide, and nitrogen oxide into harmless nitrogen, water, and carbon dioxide. A catalyst system for diesel engines additionally employs a filter to eliminate fine particulates (soot) which are a significant cause of lung and cardiovascular disease. On the other hand, a rise in the production of automobiles and stringent government regulations to check the emissions from vehicles is further augmenting the demand for auto catalysts over the upcoming years. Moreover, increasing environmental concern among the people and government initiatives to reduce the impact of human activities on the environment are the factors driving the growth of the auto catalyst market. However, increasing demand for an electric vehicle is likely to hinder the growth of the market. Moreover, the rise in the production of the automotive industry is anticipated to create growth opportunities for the auto catalyst market during the forecast period.
Asia Pacific region emerged as the largest region for the auto catalyst market followed by Europe. Asia Pacific region houses 60% of the global population. Countries like China, India, and Japan have the highest number of passenger car sales. Also, the sales of the motorcycle are the highest in countries like India, China, Vietnam and Indonesia. With a rising economy and high disposable income countries and increasing awareness about noise pollution and fuel consumption, the Asia Pacific region to remain dominant in this market, throughout the forecast period. On the other hand, growing environmental concerns and stringent exhaust noise laws are anticipated to maintain dominance in the North American and European markets in the upcoming years. Moreover, automotive sales in this region are expected to witness modest growth in the coming years.
The report on global auto catalyst market covers segments such as application. On the basis of application, the global auto catalyst market is categorized into HDV, LDV-gasoline, and LDV-diesel.
The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region.
The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global auto catalyst market such as CL International, Inc., Cataler Corporation, Tenneco, Inc, Klarius Products Limited, MagnaFlow Performance Exhaust Systems, Cummins Emission Solutions, Inc., Magneti Marelli S.p.A, Ibiden Co., Ltd., Umicore S.A., and Solvay S.A., other companies.
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global auto catalyst market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of auto catalyst market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the auto catalyst market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the auto catalyst market to understand the present and future trends in this market and formulate their strategies accordingly.
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