Pune, India -- (SBWire) -- 08/28/2018 --The Auto Catalysts are widely used in the automobile industry to control the harmful emissions from vehicles. Auto Catalyst converts the toxic emissions into harmless particles by catalyzing redox reactions. The demand for automobiles is set to have a positive impact on the global market of the auto catalyst.
The Global Auto Catalyst Market is spanned across five regions of the world namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major share of the global market and is projected to be the fastest growing market, owing to the increasing number of automobiles. It is estimated that the light-duty vehicle-diesel segment is set to observe the highest CAGR during the forecasted years. The advantages such as fuel efficiency are the major factor attributing to the growth of this segment.
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North American region is expected to grow at a steady CAGR due to extensive consumption of auto catalyst coupled with the increasing adoption rate. In this region, the U.S. and Canada have achieved a significant place in the market. The presence of the big automobile companies coupled with the stringent federal regulation to control vehicle emission is substantially adding to the growth of the market in the region.
A moderate development is achieved in the European market due to the growing adoption of the product. The developed automobile sector coupled with the implementation of Euro 6 and Euro 7 emission guideline is expected to further boost the market growth. The growing number of diesel light-duty vehicles is another major factor driving the market growth. According to the European Automobile Manufacturers Association, 49.5% of all registered cars in 2016 ran on diesel.
Key Players
Some of the prominent players operating in the Global Auto Catalyst Market are BASF SE (Germany), Johnson Matthey (England), Solvay (Belgium), Umicore (Belgium), Corning Incorporated (U.S.), Cataler Corporation (Japan), DCL International (Canada), Heraeus Holding GmbH (Germany), Tenneco Inc (U.S.), Faurecia S.A (France), Klarius Products Limited (U.K), and Taizhou Three-Way Vehicle Catalytic Converter Co., Ltd (China) among others.
Segmentation
The Global Auto Catalyst Market is segmented into Application and Region. On the basis of the application, the market is segregated into light-duty vehicle diesel, light-duty vehicle gasoline, and heavy-duty vehicle. The market by region is segmented into Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa.
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Auto Catalyst Market Share, Gross Margin Analysis, Breakdown Data by Manufacturers, Opportunities in Grooming Regions, Opportunity Assessment and Forecast by 2023
Global Auto Catalyst Market Research : Information by Application (Light-Duty Vehicle- Diesel, Light-Duty Vehicle- Gasoline, Heavy-Duty Vehicle) by Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa) – Forecast till 2023