The global Auto Catalyst Market size is expected to reach USD 16.15 billion by 2025, according to a new report by Grand View Research, Inc. Globally increasing awareness along with stringent emission control rules being implemented by various governments across different regions is expected to drive market over the forecast period.
The
global production of automobiles has been increasing in the last ten years due
to the growing disposable income level, especially in the emerging markets of
China, India, Russia, and Brazil. However, as the growth of auto catalyst
market is directly proportional to advances in automotive sector, the rise in
the production of automobiles is expected to have a positive impact on product
market in the coming years.
Diesel
cars accounted for a significant share in automotive markets of Asia and Europe
in 2016. High fuel efficiency offered by diesel-powered engines is the primary
driver that has triggered their demand in comparison to fuel efficiency offered
by gasoline engines. The growing biodiesel market is expected to further boost
the demand for diesel-powered vehicles in the market.
The
use of diesel engines is likely to lead to the growing demand for diesel
oxidation catalyst, diesel particulate filters, and other oxidation catalysts
required to lower the emission levels of a vehicle. The price of catalysts for
diesel-powered vehicles is four times higher in comparison to the price for
gasoline engines. This factor, in turn, is anticipated to increase the revenue
of market.
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Further key findings from the report suggest:
- The global
autocatalyst demand was 114,492.5 thousand units in 2016 and is expected
to register a CAGR of 3.4% from 2017 to 2025
- LDV-Gasoline
emerged as the largest application segment in 2016 and is estimated to
generate revenue of USD 6,429.6 million by 2025
- Global
LDV-Diesel demand in the U.S. was USD 435.6 million in 2016 and is
anticipated to witness a highest growth over the next eight years
- The growth
of this market is directly proportional to the growth of the global
automotive industry
- Diesel cars
accounted for a major share in automotive markets for Asia and Europe in
2016
- Some of the
key players in the operating in the global market include BASF SE, Johnson
Matthey, Umicore S.A., and DCL International, Inc.
About Us:
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.
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Grand View Research, Inc
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