The Global Automotive Catalytic Converter Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026 gives an evaluation of the market developments based on historical studies and comprehensive research respectively.

The market segments are also provided with an in-depth outlook of the competitive landscape and a listing of the profiled key players.Automotive catalytic converter market is experiencing a significant growth.

Catalytic converter is an emission control device which suppresses the toxic pollutants coming out of combustion chamber by a catalyzing a redox reaction.

They are used in exhaust systems to reduce emission of harmful gases like hydrocarbons, carbon monoxide and nitrogen oxides.

Catalytic converter is one of the most important parts of an emission control systems in an automobile.DriversAdvancement in technologyGrowth of the global automobiles marketTremendous growth in the usage of passenger vehiclesIncreasing stringent emission normsRestraintsCatalytic converters emit hazardous particlesIncreasing popularity for hybrid and electric vehicles market and innovations in hybrid and electric vehicles which are environmental friendlyHigh cost and use of precious materials like platinum, palladium and rhodium in the partsAutomotive catalytic converter market attractiveness analysis has been included in order to analyze the application segments that are estimated to be lucrative during the forecast period on the basis of their market size and growth rate.

Attractiveness of the market has been derived from market size, profit margin, growth rate, availability of raw materials, competition, and other factors such as social and legal constraints.Final Report will cover the impact of COVID-19 on this industry.Browse the complete Global Automotive Catalytic Converter Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026 @ https://www.decisiondatabases.com/ip/445-automotive-catalytic-converter-market-reportThe report also offers a competitive landscape of the overall market with company profiles of players such as:Magneti Marelli S.P.A.Faurecia SATenneco Inc.Benteler International AGEberspaecher GmbH Holding & Co. KGBASF Catalysts LLCCalsonic Kansei CorporationClean Diesel Technologies, Inc.A detailed description of the each company has been included and includes information in terms of headquarters, inception, stock listing, upcoming capacities, key mergers & acquisitions, financial overview, and recent developments provides a thorough idea about the competitive positioning of market players.

The global automotive catalytic converter market size was valued at USD 111.00 billion in 2014 and is projected to reach USD 272.95 billion by 2024.

The growth can be attributed to strict government and institutional norms applied for emission control, rapidly growing automobile industry, evident environmental impact caused by automobile emissions and advancements in the product technology.

Generally, the product consisting of a core made up of a ceramic honeycomb structure coated with the catalyst metal is installed in the emission mechanism of the vehicle.Stringent regulations imposed in several North American and European countries mandating the use of converters in all vehicles are expected to elevate their demand.

Innovation & development of technology in the segment is fast paced, effectively catering to the requirements.Increased hybrid & electric vehicles’ demand is expected to challenge the automotive catalytic converter market over the forecast period, as these vehicles do not use an inbuilt converter on account of the absence of any form of emission.

Regulations for emissions limits as well as jurisdictions are not uniform across different countries as a result of which design of catalytic converters and production processes cannot be standardized.Manufacturers are constantly bringing about innovations in the design of these converters for improving the efficiency and applications in new automobile segments as well as across a wide array of engines.

There are a lot of scope in eco-friendly technologies of production, catalyst conversion reactions and emissions control.