In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
Benteler International AG to launch a brand, HOLON to make its robust appearance in autonomous mobility. The company also plans to change the name of one of its units that is the BENTELER EV System. With the launch of HOLON, Benteler International AG further plans to focus on fully electric autonomous movers.
DRiV Incorporated’s global brand, Walker Emission Control to release a new replacement catalytic converter. It is also going to offer accessories and hardware that can extent the coverage to nearly 16 million vehicles in North America. The coverage is also going to cover Walker Quiet-Flow SS stainless-steel mufflers, Walker CalCat, Walker Ultra converters, and others.
The automotive catalytic converter is an exhaust emission control device used for converting pollutants and toxic gases from combustion engines into less-toxic pollutants. The pollutants converted by this system are carbon monoxide, hydrocarbons, and nitrogen oxide. The automotive catalytic converter does this conversion by catalyzing a redox reaction. Engines that are filled with diesel and gasoline require an automotive catalytic converter, along with lean-burn engines, stoves, and kerosene heaters. Hence, the automotive catalytic converter is an important part of the exhaust system of automobiles.
The automotive catalytic converter comes in a wide range of sizes and shapes. An ordinary catalytic converter is about the size of an adult’s palm of a hand. These converters are then installed between the muffler and the engine. It is generally placed close to the engine, as it requires high heat to perform its task. A single automobile can use up to two catalytic converters. Automotive catalytic converters are made from platinum, palladium, and rhodium further creating the necessary chemical reaction to make pollutants less harmful.
Apart from being used in the automobile’s exhaust system, catalytic converters are also used in mining equipment, electrical generators, forklifts, ships, and others. Additionally, automotive catalytic converters are also used on wood stoves, since the main purpose of these devices is to control harmful emissions.
Base Year |
2022 |
Forecast Year |
2023-2033 |
CAGR |
~6% |
Base Year Market Size (2022) |
~ USD 95 Billion |
Forecast Year Market Size (2033) |
~ USD 200 Billion |
Regional Scope |
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The global automotive catalytic converter market is estimated to garner a revenue of USD 200 billion by the end of 2033 by growing at a CAGR of ~6% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of USD 95 billion in the year 2022. The growth of the market can be attributed to the increasing awareness related to the rising traffic pollution caused by the harmful emission of toxic gases from vehicles. The main form of pollution caused by vehicles is air pollution, which triggers several severe health issues such as asthma, cancer, heart & lung diseases, and others. For instance, air pollution caused by traffic accounts for approximately 100,000 deaths every year solely in the USA.
Get more information on this report:The growing production of vehicles along with the rising automotive industry and harmful emissions of hydrocarbons, carbon monoxide, and nitrogen oxides that damages the atmosphere if released into the air are estimated to hike the market growth over the forecast period. For instance, it is forecasted that the automotive industry worldwide will generate ~USD 3.5 trillion from auto sales by 2030. An automotive catalytic converter considerably reduces the number of harmful pollutants by taking these gases and converting them into water vapor and less harmful gases via a series of chemical reactions. With the rising pollution caused by the transport sector as well as greenhouse gas emissions, the demand for the catalytic converter is on the rise amongst petrol car users, which in turn, is expected to create massive revenue generation opportunities for the key players operating in the global automotive catalytic converter market during the forecast period. For instance, it was found that in 2020, the transportation sector held the largest share of greenhouse gas (GHG) emissions, with almost 25% of greenhouse gas emissions around the world.
Growing Awareness of the Poor Air Quality Index – It was found that, owing to poor air quality, more than 6 million people die annually worldwide.
The catalytic converter along with the oxygen sensor and ECU work together to help to achieve the lowest possible output of dangerous and polluting gases. The falling air quality index and growing concern about the rising incidences is expected to escalate the automotive catalytic converter market in the projected period.
Surge in the Sales Volume of Vehicles – Up-surged sales volume of vehicles has caused an escalated demand for the installation of automotive catalytic converters across the globe. As of 2021, approximately 80 million units of vehicles were sold out across the globe.
Significant Growth in the NOx Emissions – According to the most recent data, it was found about 7.5 million tons of nitrogen oxide (NOx) were emitted in the United States in 2021.
Escalation in the Number of Gasoline Vehicle Registrations – For instance, it was observed that out of ~22 million vehicles registered in the United States in 2018, around 94% of vehicles had gas powertrains.
Rising Cases of Heart & Lung Diseases – In 2019, more than 18 million people died from cardiovascular diseases (CVDs) around the globe.
To control the emission of harmful pollutants, an automotive catalytic converter requires three main metals to create the chemical reaction that is platinum, palladium, and rhodium. These metals attract thieves to steal the automotive catalytic converter. Hence, this factor may limit the market’s growth over the forecast period.
The global automotive catalytic converter market is segmented and analyzed for demand and supply by vehicle type into passenger cars, light commercial vehicles, and heavy commercial vehicles. Out of the three types of vehicles, the heavy commercial vehicle segment is estimated to gain the largest market share over the projected time frame. The growth of the segment can be attributed to the increasing production volume of heavy commercial vehicles coupled with higher utilization in transportation. As of 2021, approximately 22 million units of commercial vehicles were produced across the globe. Additionally, around USD 2 trillion was generated by the global automotive industry in a similar year. The demand for heavy commercial vehicles is also up-surged by the growing transportation of goods across nations. Trucks are one of the most common mediums of transportation and a great example of HCVs. For instance, in 2020, the trucking industry generated nearly USD 700 billion around the globe.
Furthermore, the passenger cars segment is expected to garner the second-largest share in the global automotive catalytic converter market after heavy commercial vehicles. Passenger cars are multi-track vehicles that comprise around two axles that can further extend to nearly 9 seats and are mainly used for passenger transportation. A passenger car has the capacity to weigh around 3 tons. To drive a passenger car on the road, a person requires vehicle registration and a driver’s license. For instance, in 2021, nearly 55 million units of passenger cars were manufactured worldwide.
Our in-depth analysis of the global automotive catalytic converter market includes the following segments:
By Product Type |
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By Material |
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By Vehicle Type |
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The Asia Pacific automotive catalytic converter market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The growth of the market can be attributed majorly to the presence of a strong mobility network in the region backed by a growing number of vehicles. Asia Pacific is known to dominate the global automotive industry with China accounting for approximately 30% of global vehicle production. According to the International Trade Administration, it is projected that China will produce around 32 million vehicles by 2025 while in 2020 around 20 million passenger vehicles were sold out in China. The production of vehicles in China and India also increased since the tariff barriers on vehicles, imported from the USA were very high. Furthermore, rising awareness amongst the populace and governments for increasing air pollution incidences and costs to gross domestic product (GDP) is expected to boost market’s growth in the region. For instance, according to the ‘Health and Economic Impact of Air Pollution in India’, around 18% of all deaths in 2020 could be attributed to air pollution, resulting in a loss of over 1% of gross domestic product (GDP).
Ans: Growing awareness of the poor air quality index and escalation in the number of gasoline vehicle registration are the major factors driving the market growth.
Ans: The market is anticipated to attain a CAGR of ~6% over the forecast period, i.e., 2023 – 2033.
Ans: Concern associated with the theft of an automotive catalytic converter is estimated to be the growth hindering factor for the market expansion.
Ans: The market in the Asia Pacific region is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.
Ans: The major players in the market are DRiV Incorporated, Tenneco Inc., Yutaka Giken Company Limited, Sango Co. Ltd, Futaba Industrial Co. Ltd., Hanwoo Industrial Co. Ltd, Eberspächer Gruppe GmbH & Co. KG, Marelli Holdings Co., Ltd., and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by product type, material, vehicle type, and by region.
Ans: The heavy commercial vehicles segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
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