Automotive Catalytic Converter Market 2016 Automotive Catalytic Converter Market - Global Ind

Automotive Catalytic Converter Market - Global Industry
Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2021
This market research study analyzes the automotive catalytic converter market on global basis and
provides estimates in terms of revenue (USD billion) from 2015 to 2021. It identifies the drivers and
restraints affecting the industry and analyzes their impact over the forecast period. Moreover, it
highlights the significant opportunities for market growth in the next six years.
With the advancements in technology, there has been a considerable growth in the automotive
catalytic converter market globally. Stringent emission norms such as Euro V and Euro VI have put a
restriction to the use of exhaust systems that are harmful to the environment. This has made
automobile manufacturers improvise on their exhaust systems and bring in application of advanced
technology and innovation to their products in order to reduce automobile emission in the environment.
Innovative catalytic converters such as two-way and three-way catalytic converters are extensively
being used and largely demanded by automobile manufacturers because of their greater performance
and reduced emission quality. Four-way catalytic converters are still in the testing phase and are
expected to be much more efficient and environment friendly as compared to the other existing
automotive catalytic converters.
This 122 page report gives readers a comprehensive overview of the Automotive Catalytic Converter
market Browse through 39 data tables and 57 figures to unlock the hidden opportunities in this market.
http://www.transparencymarketresearch.com/automotive-catalytic-converter-market.html
The growth in the global automotive catalytic converter market is directly related to the growth of the
global automobiles market. Therefore, with the increasing sales of automobiles globally, the demand
for automotive catalytic converter is set to grow. In regions such as Asia Pacific, Middle East and Africa
(MEA), and Latin America; an immense rise in the usage of passenger vehicles is expected over the
forecast period, which is set to bolster the growth of the automotive catalytic converter market.
Increasing stringent emission norms across the globe is the major reason driving the growth of the
global automotive catalytic converters market. Catalytic converters emit hazardous particles that are
harmful to the environment. Due to the rising pollution and global warming effects, the governments
of various countries have laid down strict guidelines relating to automobile emission. Therefore, the
stringent emission guidelines have forced the automotive component manufacturers to manufacture
environment friendly catalytic converters for domestic and international markets. Two-way oxidation
catalytic converter, three-way oxidation-reduction catalytic converter and diesel oxidation catalyst are
heavily in demand due to their reduced emission property.
In the coming years, hybrid and electric vehicles market are expected to gain momentum. This is going
to have an adverse effect on the global automotive catalytic converters market. Electric vehicles do
not come equipped with catalytic converters as there are no means of emission in such vehicles.
Therefore, the gaining popularity and rising demand for electric vehicles are set to inhibit the catalytic
converters market during the forecast period from 2015 to 2021.