Pune, India, Nov. 01, 2021 (GLOBE NEWSWIRE) -- According to MarketStudyReport, worldwide emission control catalyst market size garnered USD 38.9 billion in 2020 and is projected to exhibit a CAGR of 6.9% over 2021-2027, accruing USD 62.06 billion by end of the forecast period. The growth can be credited to increasing number of power generation plants, expansion of the industrial and automotive sectors, and expanding aftermarket for catalytic converters.
Taking the analysis further, the document entails a comprehensive study of the various sub-markets, and infers their performance, identifying key investment areas in the process. It also includes conclusive data of the geographical ambit, revealing the contribution and scope of each region to the overall market development. Lastly, it provides a detailed account of the major industry players, along with their product/serving offerings, winning strategies, and noteworthy developments to help businesses and other stakeholders chart their action plans accordingly.
Increase in adoption of strict emission rules as public awareness about pollution rises is further augmenting the demand for sophisticated catalytic converters. Moreover, escalating demand for lighter, faster, and low-fuel-consumption cars are enhancing the industry remuneration prospects.
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On the contrary, lack of technical expertise and surging demand for battery-operated electric vehicles are likely to act as major challenges for businesses in this domain.
Regional landscape outlook
Europe currently accounts for sizeable portion of global emission control catalyst industry share owing to flourishing automotive & transformation sector. Moreover, enactment of strict government rules for encouraging vehicle manufacturers to employ devices that reduce pollutant emissions is further propelling the demand for emission control catalysts or catalytic converters.
Meanwhile, Asia Pacific is poised to witness considerable growth over 2021-2027, creditable to booming population, subsequent surge in usage of vehicles, and increasing investments in automobile & industrial sector.
Competitive landscape overview
Companies in global emission control catalyst market are actively engaged in new product development, production capacity expansion, partnerships, and acquisitions to improve their profit margins. Citing an instance, in 2017, Umicore N.V. acquired Haldor Topsoe, a Danish ECC producer, for its heavy-duty diesel business, with an intention to help the company expand its customer base in Europe and China, as well as get access to emission control technology for heavy-duty diesel engines.
Whereas, BASF Catalysts nearly doubled its Chennai mobile emission catalyst production capacity in 2021. The planned expansion intends to boost capacity in the heavy-duty on- and off-road segment of the automotive industry.
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Global Emission Control Catalyst Market, by Application Spectrum (Value, USD Billion, 2018-2027)
- Stationary Sources
- Mobile Sources (Off Road, and On Road)
Global Emission Control Catalyst Market, by Type (Value, USD Billion, 2018-2027)
- Rhodium Based
- Platinum Based
- Palladium Based
- Others (Vanadium, Ruthenium, and Irirdium)
Global Emission Control Catalyst Market Regional Bifurcation (Value, USD Billion, 2018-2027)
North America
- U.S.
- Canada
Europe
- The U.K.
- Germany
- France
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
Rest of The World
Global Emission Control Catalyst Market Key players (Value, USD Billion, 2018-2027)
- Hitachi Zosen Corporation
- DCL International Inc.
- Cormetech Inc.
- Clean Diesel Technologies
- Bosal International N.V.
- Heraeus Group
- Cataler Corporation
- Tenneco Inc.
- Umicore N.V.
- Johnson Matthey
- BASF Catalysts
Table of Content:
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2027 (USD Billion)
1.2.1. Emission Control Catalyst Market, by Region, 2019-2027 (USD Billion)
1.2.2. Emission Control Catalyst Market, by Type, 2019-2027 (USD Billion)
1.2.3. Emission Control Catalyst Market, by Application, 2019-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Emission Control Catalyst Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Emission Control Catalyst Market Dynamics
3.1. Emission Control Catalyst Market Impact Analysis (2019-2027)
3.1.1. Market Drivers
3.1.1.1. Increasing aftermarket for catalytic converters
3.1.1.2. Increasing power generation plants
3.1.2. Market Challenges
3.1.2.1. Rising demand for battery-operated electric vehicles
3.1.2.2. Lack of technical expertise
3.1.3. Market Opportunities
3.1.3.1. Increasing government initiatives
Chapter 4. Global Emission Control Catalyst Market Industry Analysis
4.1. Porter's 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter's 5 Force Model (2018-2027)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Emission Control Catalyst Market, by Application
5.1. Market Snapshot
5.2. Global Emission Control Catalyst Market by Application, Performance - Potential Analysis
5.3. Global Emission Control Catalyst Market Estimates & Forecasts by Application 2018-2027 (USD Billion)
5.4. Emission Control Catalyst Market, Sub Segment Analysis
5.4.1. Mobile sources (off road, and on road)
5.4.2. Stationary sources
Chapter 6. Global Emission Control Catalyst Market, by Type
6.1. Market Snapshot
6.2. Global Emission Control Catalyst Market by Type, Performance - Potential Analysis
6.3. Global Emission Control Catalyst Market Estimates & Forecasts by Type 2018-2027 (USD Billion)
6.4. Emission Control Catalyst Market, Sub Segment Analysis
6.4.1. Palladium based
6.4.2. Platinum based
6.4.3. Rhodium based
6.4.4. Others (vanadium, ruthenium, and irirdium)
Chapter 7. Global Emission Control Catalyst Market, Regional Analysis
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