The global emission control catalyst market is expected to be valued at US$ 29.5 billion by 2033. The market is valued at US$ 13.1 billion as of 2023, and is expected to grow at a CAGR of 8.5% during the forecast period.
The emission control catalyst market is a crucial segment within the automotive industry, focusing on technologies designed to reduce harmful emissions from internal combustion engines. Here’s an overview of key aspects of this market:
Definition and Functionality: Emission control catalysts are devices that convert harmful pollutants in engine exhaust gases into less harmful substances before they are released into the atmosphere. The primary function of these catalysts is to reduce emissions of pollutants such as carbon monoxide (CO), hydrocarbons (HC), and nitrogen oxides (NOx), thereby helping vehicles comply with emissions regulations and mitigating their environmental impact.
Market Segmentation: The emission control catalyst market can be segmented based on various factors such as catalyst type (three-way catalysts, diesel oxidation catalysts, selective catalytic reduction catalysts), application (light-duty vehicles, heavy-duty vehicles, motorcycles), vehicle type (passenger cars, commercial vehicles), emission standards (Euro, EPA, China VI), and geography.
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Market Size and Growth: The market size for emission control catalysts is influenced by factors such as global vehicle production volumes, regulatory mandates for emissions reduction, advancements in catalyst technology, and the adoption of cleaner fuels.
Key Players: Major players in the emission control catalyst market include catalyst manufacturers such as BASF SE, Johnson Matthey PLC, Umicore SA, Corning Incorporated, and Tenneco Inc. These companies specialize in the design, development, and production of catalyst formulations and substrates for automotive and industrial applications globally.
Product Portfolio: Emission control catalyst manufacturers offer a wide range of products tailored to meet the specific requirements of different engine types, fuel compositions, and emission standards. Products include catalytic converters, particulate filters, SCR systems, and other emissions control technologies, each designed to target specific pollutants and optimize performance under varying operating conditions.
Technological Trends: Technological advancements in emission control catalysts focus on improving catalyst efficiency, durability, and temperature resistance while reducing precious metal content and manufacturing costs. Key trends include the development of advanced catalyst formulations, optimized catalyst geometries, and integrated system solutions for hybrid and electric vehicles.
Market Drivers: Factors driving the emission control catalyst market include increasingly stringent emissions regulations worldwide, public awareness of air quality issues, advancements in catalyst technology enabling higher conversion efficiencies and lower emissions levels, and the transition towards electrification and alternative fuels in the automotive industry.
Market Challenges: Challenges facing the emission control catalyst market include cost pressures from automotive OEMs and consumers, variability in emission standards and testing procedures across regions, supply chain disruptions, and the need for continuous innovation to address emerging pollutants and regulatory requirements.
Opportunities: Despite challenges, there are opportunities for growth in the emission control catalyst market, particularly in segments such as heavy-duty diesel vehicles, off-road equipment, and emerging markets where emissions regulations are becoming more stringent. Additionally, advancements in catalyst technology, including the integration of sensors and predictive maintenance capabilities, offer opportunities for innovation and market expansion.
Overall, the emission control catalyst market plays a critical role in reducing vehicle emissions and mitigating their environmental impact, with ongoing innovation and investment driving improvements in catalyst technology and performance. Continued collaboration between catalyst manufacturers, automotive OEMs, and regulatory authorities will drive further growth and advancement in this dynamic market.
Thus, from the insights provided by FMI researchers, it can be concluded that, “increase in the construction activities, coupled with an increase in the growth of automotive sectors and many other influences are expected to surge the emission control catalyst market growth.”
Key Takeaways:
- The market is expected to grow at a CAGR of 8.5% during the forecast period.
- As of 2023, the market is valued at US$ 13.1 billion.
- By 2033, the emission control catalyst market is projected to be valued at US$ 29.5 billion.
- Based on regional analysis, Asia Pacific is expected to be the largest market.
- USA market is expected to grow at a CAGR of 8.2%.
- UK market is projected to grow at a CAFGR of 10.9%.
- China market is anticipated to grow at a CAGR of 10.5%.
- India emission control catalyst market is expected to grow at a CAGR of 8.7%.
- Japan market is all set to grow at a CAGR of 6.1%.
- On the basis of application, mobile equipment segment is expected to hold the largest market share, growing at a CAGR of 8.8%.
- On the basis of end use, OEM segment is expected to have the highest market share, and is expected to grow at a CAGR of 8.4%.
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Emission Control Catalyst Market Segmentation
By Product Type:
- Diesel Based Emission Catalyst (Diesel Oxidation Catalyst, Selective Catalytic Reduction Catalyst, Catalysed Soot Filter/Diesel Particulate Filter, Ammonia Oxidation Catalyst, NOx Adsorbers),
- Gasoline Based Emission Catalyst (Palladium Based Catalyst, Rhodium Based Catalyst, Platinum Based Catalyst)
By Application:
- Mobile Equipment (Heavy-duty Vehicles, Off-road Vehicles, Passenger Cars and Light Duty Vehicles, Motorcycles, Scooters and Three Wheelers, Gardening Equipment),
- Stationary Equipment (Industrial Engines, Generators, Off-road Equipment)
By End Use:
- OEM,
- Retrofit
By Pollutant Type:
- NOx,
- CO,
- Hydrocarbons,
- HAPs,
- DPM,
- NH3
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
About Future Market Insights (FMI)
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