Global Emission Control Catalyst Market to be Worth US$ 41,475.6 Million by 2030
Emission Control Catalyst Market Overview
The report is titled as ‘Emission Control Catalyst Market: Opportunity Analysis and Future Assessment 2022-2030’. An overview of conceptual frameworks, analytical approaches of the Emission Control Catalyst market is the main objective of the report, which further consists the market opportunity and insights of the data involved in the making of the respective market.
The emission control catalyst market is estimated to reach at a value of US$ 27,665.2 Mn by the end of 2022 and expected to reach at a value of US$ 41,475.6 Mn by 2030 with a significant CAGR of 5.2%
Emission Control Catalyst Introduction
Many times, gases and production by-products released by internal combustion engines and industrial exhaust contain compounds that are recognized to be bad for the environment. Catalytic converters employ emission control catalysts to cut down on these damaging emissions to the environment. These catalysts are designed in catalytic converter based on fuel type including diesel and gasoline. Several types of catalyst are used for various applications.
In current generation diesel-powered vehicles and equipment, Selective Catalytic Reduction (SCR), an advanced active emissions control technology system, decreases tailpipe emissions of nitrogen oxides (NOx) to almost zero levels.
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Key Takeaways from the study
- The emission control catalyst market is expected to increase 1.5X times during the forecast period
- Diesel based emission catalyst segment is expected to be a prominent product type, and expected to create an incremental opportunity of US$ 11,678.5 Mn during the forecast period
- Mobile equipment segment is anticipated to a prominent application segment as compare to its counterparts
- Selective catalytic reduction segment is anticipated to create significant market opportunities for the key players in the coming years
- Asia Pacific region is expected to account for a prominent market share in the global business of emission control catalyst owing to substantial base of the end users
Emission Control Catalyst Market Driver: Stringent environmental regulations regarding emission control boosting the demand
Urbanization and industrialization are two factors that contribute to the environment's greater emissions, which provide a significant global concern. Automobile and industrial emissions are rising quickly as a result of on and off-road emission sources from vehicles including passenger cars, light-duty and heavy-duty trucks, and other large emitters that contribute to air pollution. The introduction of strict emission restrictions in response to growing environmental concerns is driving up demand for sophisticated catalyst converters made with precious metals. Need for lighter, faster, and fuel-efficient vehicles is rising as a result of the strict emission rules, which is anticipated to accelerate the growth of the emission control catalyst market.
According to the study, the PGM market for the mobile sector is the largest. The catalytic converters, which are placed in automobiles, use precious metals like platinum, palladium, and rhodium as catalysts to transform poisonous exhaust emissions into non-toxic compounds. The poisonous gases and certain valuable metals interact, converting the toxic gases into less dangerous pollutants before being discharged into the environment. To minimize the emissions owing to restrict the global warming regional governments are putting restriction on emissions from industries and from vehicles, resulting in adopting these emission control catalysts.
Emission Control Catalyst Market Segmentation
The global emission control catalyst market is segmented on the basis of product type, catalytic converter type, application, end use, pollutant type, and region.
By Product Type
Diesel Based Emission Catalyst
Diesel Oxidation Catalyst (DOC)
Selective Catalytic Reduction Catalyst (SCR)
Catalyzed Soot Filter/ Diesel Particulate Filter
Ammonia Oxidation Catalyst (AMX)
NOx Adsorbers
Gasoline Based Emission Catalyst
Palladium based catalyst
Rhodium based catalyst
Platinum based catalyst
By Application
Vehicles
Heavy-Duty Vehicles
Off-Road Vehicles
Passenger Cars & Light Duty Vehicles
Motorcycles, Scooters and Three Wheelers
Gardening Equipment
Stationary Equipment
Industrial Engines
Generators
Off-Road Equipment
Catalytic Converter Type
Selective Catalytic Reduction
Lean Nox Trap
Three-Way Catalytic Converter
Four-Way Catalytic Converter
By End Use
Retrofit
By Pollutant Type
CO
Hydrocarbons or Volatile Organic Compounds - (HC/VOC)
HAPs
DPM (Diesel Particulate Matter)
NH3 (Ammonia)
By Region
North America
Latin America
Europe
Asia Pacific
Middle East
Africa
Emission Control Catalyst Market Key Players
Some of the key participating players in global emission control catalyst market are:
Johnson Matthey
W.R. Grace
Sinocat Environmental Technologies
Cormetech
Solvay S.A.
Faurecia
SMPE
Hitachi Zosen Corporation
Holdor Topsoe
Clean Diesel Technologies
NGK Insulators
Magneti Marelli
Tenneco
Umicore SA
Bosal
Corning Incorporated
DCL International Inc.
Aerinox Inc.
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Factors that are benchmarked while estimating the market
Various factors that are benchmarked while estimating the market growth includes (but not restricted to):
Global Economic Growth Outlook
Growth in the Automotive Production
Increasing Requirement to Control Emissions
Growth in Manufacturing Sector
Top Companies Historical Growth Rate
Impact of Pricing
Technological Development
Growing Chemical Industry
Recovery from Pandemic Crisis
Supply and Demand Scenario
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