Global Catalytic Converter Market Size, Share, Growth Analysis Report - Forecast 2034

Catalytic Converter Market

Catalytic Converter Market By Product Type (Two-Way, Three-Way, Diesel Oxidation Catalyst, SCR (Selective Catalytic Reduction)), By Material (Platinum, Palladium, Rhodium, Others), By Vehicle Type (Passenger Cars, Commercial Vehicles, Off-Highway Vehicles), By End-user (OEM, Aftermarket), and By Region: Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2025 - 2034

Category: Automotive Report Format : PDF Pages: 193 Report Code: ZMR-971 Published Date: Jun-2025 Status : Published
Market Size in 2024 Market Forecast in 2034 CAGR (in %) Base Year
USD 169.86 Billion USD 387.60 Billion 8.6% 2024

Catalytic Converter Market: Industry Perspective

The global catalytic converter market size was worth around USD 169.86 Billion in 2024 and is predicted to grow to around USD 387.60 Billion by 2034 with a compound annual growth rate (CAGR) of roughly 8.6% between 2025 and 2034.

The report analyzes the global catalytic converter market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the catalytic converter industry.

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Catalytic Converter Market: Overview

A catalytic converter is a system required for controlling exhaust emissions. The converter is used to turn pollutants and toxic gasses that are the components of exhaust gas created in the internal combustion engine for the vehicle into less-toxic pollutants.

The conversion is achieved due to the catalysis of a redox reaction, a chemical reaction that causes a change in the oxidation state of the substrate. In most cases, international combustion engines that run on diesel or gasoline require the use of catalytic converters but the application of the device may also be found in stoves, kerosene heaters, or lean-burn engines. The widespread utilization of catalytic converters makes them highly sought-after devices in the mechanical world as they may also be used alongside mining equipment, electrical generators, buses, ships, forklifts, buses, and motorcycles.

Key Insights

  • As per the analysis shared by our research analyst, the global catalytic converter market is estimated to grow annually at a CAGR of around 8.6% over the forecast period (2025-2034).
  • Regarding revenue, the global catalytic converter market size was valued at around USD 169.86 Billion in 2024 and is projected to reach USD 387.60 Billion by 2034.
  • The catalytic converter market is projected to grow at a significant rate due to stringent emission regulations, rising vehicle production, and increasing demand for hybrid and conventional internal combustion engine vehicles.
  • Based on Product Type, the Two-Way segment is expected to lead the global market.
  • On the basis of Material, the Platinum segment is growing at a high rate and will continue to dominate the global market.
  • Based on the Vehicle Type, the Passenger Cars segment is projected to swipe the largest market share.
  • By End-user, the OEM segment is expected to dominate the global market.
  • Based on region, Asia-Pacific is predicted to dominate the global market during the forecast period.

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Catalytic Converter Market: Growth Drivers

Increasing concern over air pollution to propel market demand

The global catalytic converter market is projected to grow owing to the increasing concern over air pollution which is rising at an alarming rate across the globe. Apart from other factors, one of the major reasons for air pollution is the use of automotive vehicles that run on non-renewable resources of energy, particularly diesel or gas.

The burning of such fuel leads to the emission of harmful gasses like benzene, carbon monoxide, nitrogen dioxide, formaldehyde, and hydrocarbons. Carbon monoxide, when inhaled, can cause oxygen displacement in the blood which means that the organs like the brain and heart may not get sufficient oxygen. As per the World Health Organization, the joint effects of household air pollution and ambient air pollution results in the premature death of almost 7 million people annually. The United States Environmental Protection Agency states that the emission quantity of carbon dioxide from regular passenger cars is around 4.6 metric tons.

Catalytic Converter Market: Restraints

High price of maintaining catalytic converts to restrict market expansion

Catalytic converters are expensive devices and the main reason for the high cost is the use of precious metal in making the converters. They are made of materials like platinum, rhodium, or palladium which are rare and exceptionally high in cost. Almost all modern-age cars are equipped with a catalytic converter and replacing a standard converter may cost between UD 500 to USD 2,200. The high price factor could greatly restrict global market expansion.

Catalytic Converter Market: Opportunities

Rising strategic measures by market players to open new doors for further growth

The global catalytic converter market is registering a high number of strategic measures, like partnerships, joint ventures, and acquisitions, undertaken by the players and businesses operating in the segment which could potentially create growth opportunities. These partnerships are aimed at creating a larger consumer database while improving the overall efficiency of the product. For instance, in 2021, the world witnessed a collaboration between the researchers at Leeds and Cats and Pipes. The former group has managed to create a new synthetic material that can aid accelerate the removal of carbon monoxide and nitrogen oxide, which is currently in the testing phase. Cats and Pipes is an automotive company.

Catalytic Converter Market: Challenges

Growing theft incidences to act as a major challenge

One of the major challenges registered in the global market is the growing catalytic converter theft incidences. In January 2023 report published by NBC4 Washington, in the last 3 years, catalytic converter thefts have skyrocketed in DC Washington. The main reason for the high associated crime rate is the expensive nature of the material used to manufacture the device as well as the ease at which it can be stolen. The global market players as well as consumers have to invest in ways to protect against the loss of the device.

Catalytic Converter Market: Segmentation

The global catalytic converter market is segmented based on type, material, and region

Based on type, the global market is segmented into three-way oxidation-reduction catalytic converter, two-way oxidation catalytic converter, and diesel oxidation catalyst. The global market was dominated by the diesel oxidation catalyst segment since this type of converter is the most used with compression-ignition engines and 2021 registered high sales of passenger diesel-run cars. Almost 50% of the total car sales in Europe were diesel-powered vehicles. However, the increasing shift toward greener vehicles could lead to a decrease in the demand for diesel oxidation catalysts. Three-way oxidation-reduction catalytic converter was the second most revenue-generating type in 2021.

Based on material, the global market is divided into rhodium, platinum, and palladium. The global market registered the highest growth in the rhodium segment and may grow at a CAGR of 7.9% during the forecast period because the material is more cost-effective than its counterparts. It also offers better performance in terms of the reduction of hazardous gasses. Although palladium and platinum are similar in many ways, the demand for platinum is higher to produce diesel catalytic converters whereas platinum leads the demand value for petrol-powered cars.

By Vehicle Type, the global catalytic converter market is split into Passenger Cars, Commercial Vehicles, Off-Highway Vehicles.

In terms of End-user, the global catalytic converter market is categorized into OEM, Aftermarket.

Catalytic Converter Market: Report Scope

Report Attributes Report Details
Report Name Catalytic Converter Market
Market Size in 2024 USD 169.86 Billion
Market Forecast in 2034 USD 387.60 Billion
Growth Rate CAGR of 8.6%
Number of Pages 193
Key Companies Covered Futaba Corporation, Clean Diesel Technologies Inc., Tenneco Inc., Eberspaecher GmbH Holding & Co., Faurecia SA, Calsonic Kansei Corporation, Standard Motor Products Europe Ltd., HJS Emission Technology GmbH & Co. KG., Benteler International AG, Tenneco Inc., Magneti Marelli S.P.A, BASF Catalysts LLC., and Jetex Exhausts Ltd., and others.
Segments Covered By Product Type, By Material, By Vehicle Type, By End-user, and By Region
Regions Covered North America, Europe, Asia Pacific (APAC), Latin America, The Middle East and Africa (MEA)
Base Year 2024
Historical Year 2020 to 2023
Forecast Year 2025 - 2034
Customization Scope Avail customized purchase options to meet your exact research needs. Request For Customization

Recent Development:

  • In July 2022, Ford India recalled selected BS6 models of passenger cars including Freestyle, Aspire, Figo, and Ecosport due to concerns over compliance with emission norms. The main areas to be corrected, as per the company, were diesel particulate filter efficiency and issues related to oil life. If the vehicles are found non-compliant, a new catalytic converter will be installed

  • In November 2022, Dayton police launched a new campaign targeted to curb the growing incidences of catalytic converter theft. The program consists of etching a sticker on the converter with a fluid that can be easily tracked in case the device gets stolen

Catalytic Converter Market: Regional Analysis

North America to register the highest growth

The global catalytic converter market is projected to register the highest growth in North America with the US and Canada acting as the major regional market shareholders. The growth could be driven by the growing sales revenue in the automobile segment propelled by an increasing number of product launches, innovation, financial assistance, and the general lifestyle requiring the use of personal vehicles for transportation. The US government and regulatory bodies have laid heavy emphasis on controlling air pollution in the country which could lead to higher demand for high-performance catalytic converters.

The federal government has initiated multiple programs to bring down the number of catalytic converter thefts which is a major area of concern especially for luxury car owners since they are the most vulnerable group in terms of car-related crimes. The increasing number of players along with rising investments in research & development activities related to catalytic converts may also help with regional growth.

Catalytic Converter Market: Competitive Analysis

The report provides a company market share analysis to give a broader overview of the key market players. In addition, the report also covers key strategic developments of the market, including acquisitions & mergers, new product launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the catalytic converter market on a global and regional basis.

The global catalytic converter market is dominated by players like:

  • Futaba Corporation
  • Clean Diesel Technologies Inc.
  • Tenneco Inc.
  • Eberspaecher GmbH Holding & Co.
  • Faurecia SA
  • Calsonic Kansei Corporation
  • Standard Motor Products Europe Ltd.
  • HJS Emission Technology GmbH & Co. KG.
  • Benteler International AG
  • Tenneco Inc.
  • Magneti Marelli S.P.A
  • BASF Catalysts LLC.
  • and Jetex Exhausts Ltd.

The global catalytic converter market is segmented as follows;

By Product Type

  • Two-Way
  • Three-Way
  • Diesel Oxidation Catalyst
  • SCR (Selective Catalytic Reduction)

By Material

  • Platinum
  • Palladium
  • Rhodium
  • Others

By Vehicle Type

  • Passenger Cars
  • Commercial Vehicles
  • Off-Highway Vehicles

By End-user

  • OEM
  • Aftermarket

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Rest of Asia Pacific
  • The Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • Kuwait
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

Table Of Content

Methodology

FrequentlyAsked Questions

The global catalytic converter market is expected to grow due to stringent emission regulations, rising vehicle production, and increasing demand for hybrid and conventional internal combustion engine vehicles.
According to a study, the global catalytic converter market size was worth around USD 169.86 Billion in 2024 and is expected to reach USD 387.60 Billion by 2034.
The global catalytic converter market is expected to grow at a CAGR of 8.6% during the forecast period.
Asia-Pacific is expected to dominate the catalytic converter market over the forecast period.

Leading players in the global catalytic converter market include Futaba Corporation, Clean Diesel Technologies Inc., Tenneco Inc., Eberspaecher GmbH Holding & Co., Faurecia SA, Calsonic Kansei Corporation, Standard Motor Products Europe Ltd., HJS Emission Technology GmbH & Co. KG., Benteler International AG, Tenneco Inc., Magneti Marelli S.P.A, BASF Catalysts LLC., and Jetex Exhausts Ltd., among others.

The report explores crucial aspects of the catalytic converter market, including a detailed discussion of existing growth factors and restraints, while also examining future growth opportunities and challenges that impact the market.

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