The global Auto Catalyst Market
is expected to reach USD 15.80billion by 2024, according to a new report by
Grand View Research, Inc. Implementation of stringent regulations pertaining to
emission control limits is expected to remain a key driving factor for global
Auto Catalyst Market over the forecast period.
The growth in the automotive
ancillary market on account of increasing average life of vehicles the on road
is expected to drive the demand for auto catalysts. Demand for diesel vehicles
is expected to have a positive impact on the market growth over the forecast
period. Volatile prices of precious group metal (PGM) is expected to remain a
key driving factor for global Auto Catalyst Market over the next eight years.
In depth research report on Auto Catalyst Market
Further key findings from the report suggest:
·
Global Auto Catalyst Market
demand was 109.77 million units in 2015, and is expected to exceed 150 million
units by 2024, growing at a CAGR of 3.8%from 2016 to 2024
·
Light duty vehicles-gasoline
emerged as the leading application segment and accounted for 71.5% of total
units in 2015. Growing demand for gasoline powered light-duty passenger cars
across the world is expected to remain a key driving factor for this segment
over the forecast period.
·
Asia Pacific was the leading
regional market with demand share exceeding 50% in 2015. However, in terms of
revenue, Europe led the global auto catalysts industry on account of relatively
lower prices in Asia Pacific. Adoption of stringent emission control
regulations such as Euro VI coupled with the growing demand for diesel powered
vehicles is expected to drive the regional market growth over the forecast
period.
·
Asia Pacific is expected to
witness the highest growth of 3.9% over the forecast period on account of
emission control regulations implemented in China, Japan, and India, which are
in line with the Euro VI regulations. In addition, increasing automobile
production on account of growing demand for passenger and commercial vehicles
particularly in India, China, Indonesia, and Thailand is also expected to have
a positive influence on the market growth.
·
Some leading companies
operating in the global Auto Catalyst Market include Johnson Matthey PLC,BASF
SE, Umicore SA, Corning Incorporated, Heraeus Holding GmbH, Faurecia SA, Bosal
International N.V., Cummins Emission Solutions, Inc., IBIDEN Co., Ltd., Solvay
SA, and Cataler Corporation.
Grand View Research has
segmented the Auto Catalyst Market on the basis of application and region:
Global Auto Catalysts Application Outlook (Volume, Million
Units; Revenue, USD Million, 2014 - 2024)
·
Light Duty Vehicles
(LDV)-Diesel
·
Light Duty Vehicles
(LDV)-Gasoline
·
Heavy Duty Vehicles
Global Auto Catalyst Regional Outlook (Volume, Million
Units; Revenue, USD Million, 2014 - 2024)
·
North America
o
U.S.
o
Mexico
o
Canada
·
Europe
o
Germany
o
UK
o
Spain
o
France
·
Asia Pacific
o
China
o
Japan
o
South Korea
·
Central & South America
o
Brazil
·
Middle East and Africa
o
South Africa
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About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market intelligence
studies ensuring relevant and fact-based research across a range of industries
including technology, chemicals, materials, healthcare and energy.
For more market analysis reports, please visit: http://www.grandviewresearch.com/
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