The global emission control catalyst for small engine market is anticipated to expand at a steady 4.4% CAGR over the forecast period between 2021 and 2031, finds Future Market Insights (FMI) in a recent market analysis. Expansion of construction and infrastructure industries will result in high sales of emission control catalysts for small engines over the forecast period.
Manufacturers of catalytic converters for small engines are providing a wide solution range for various applications, which includes lawn mowers, trimmers, chain saws, refrigerated transportation and others. This is one of the leading factors fueling the demand in the market.
Emission control catalysts are available for diesel and gasoline vehicle types. Selective catalytic reduction catalyst (SCR) is used in on-road and off-road applications. Some of the leading automobile manufacturers are using three way catalytic converters to reduce harmful emissions.
Expansion of the construction industry due to growing industrialization across the globe will present attractive prospects for the expansion of the market. Driven by this, the overall sales in the market will total US$ 1,420.9 Mn by the end of 2031.
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Geographically, the market is predicted to be dominated by North America. High demand for gardening tools will push demand for emission control catalysts for small engines in the U.S. This in turn will present attractive prospects for the growth of the market.
Key Takeaways:
- By product type, the demand for gasoline based emission catalyst is expected to surge at 4.4% CAGR over the forecast period.
- By application, construction segment in estimated to account for more than 37% of the sales in the market.
- Germany will emerge as an attractive emission control catalyst for small engine market, with sales growing at a 4.3% CAGR in the forecast period.
- Based on end use, the OEM segment is expected to register year-over-year growth of 3.6% in 2021.
- South East Asia and India are anticipated to collectively account for 13.7% of the total emission control catalyst for small engine market in 2021.
“Leading manufacturers are focusing on making technological improvements. Besides this, they are investing in expansion strategies to strengthen their footprint, especially in emerging markets,” says an analyst at FMI.
Competitive Landscape
Key market participants in the global Emission Control Catalyst for Small Engine market elaborated in the report includes BASF SE, Johnson Matthey, Heraeus Holding, Solvay SA, Umicore, Corning Inc., Clariant AG, Tenneco Inc., NGK Insulators Inc., Nett Technologies Inc., Cataler Corporation and others.
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Major players in the emission control catalyst for small engines are investing in research & development for new product development. They also focus on expanding their manufacturing capabilities for emission control catalysts due to growing demand from customers across the globe. For instance:
- In July 2021, Clariant AG announced the expansion and enhancement of their emission control catalyst production capacity in China and Germany to meet the growing global demand for emission control catalysts.
- In March 2020, BASF SE announced that they have successfully developed an innovative Tri- Metal catalyst that enables partial substitution of high priced palladium with lower priced platinum in vehicles.
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