The global catalytic converter market size was worth around USD 49.25 billion in 2021 and is predicted to grow to around USD 76.7 billion by 2030 with a compound annual growth rate (CAGR) of roughly 9.3% between 2022 and 2030.
FrequentlyAsked Questions
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.
According to study, the global catalytic converter market size was worth around USD 49.25 billion in 2021 and is predicted to grow to around USD 76.7 billion by 2030 with a compound annual growth rate (CAGR) of roughly 9.3% between 2022 and 2030.
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 global catalytic converter market is led 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.
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