Global Automotive Catalytic Converter Market expected to grow at 6.94% CAGR from 2014 to 2019.

Big Market research has added a report titled “Global Automotive Catalytic Converter Market 2015-2019”. As per the report, the global automotive catalytic converter market is forecast to grow at 6.94% CAGR amid the period 2014-2019. The report offers a comprehensive overview of the market dynamics in terms of key drivers and restraining factors, current trends and future growth prospects, product offerings and strategies of key market players along with the detailed segmentation and forecast.

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Increased demand for automobiles across the world is a major factor driving the growth momentum of the global automotive catalytic converter market. The report offers an insight into the market size and forecast of the major geographical regions of APAC, Americas and EMEA. The report also provides a detailed analysis of the impact of drivers and restraints on the growth of the market. For instance, the increasing need for cost-cutting in fuel and to comply with very stringent emissions norms is prompting lead manufacturers to develop advanced automotive catalytic converters fulfilling the aforementioned criteria. The nationwide phased roll-out of BS IV regulations with On Board Diagnostics II (OBD II), scheduled to be completed by the end of 2017, will have major impact on the growth dynamics of global automotive catalytic converter market.

Major manufacturers of heavy commercial vehicle have introduced Selective Catalytic Reduction (SCR) technology to comply with the aforementioned norms. This has led to all leading HCV manufacturers to develop their SCR systems with Continental NOx sensors. Customers in India are provided with modern energy-saving and emission reduction technologies to help them comply with environmental norms and regulatory requirements. The aforementioned developments will give impact the industry dynamics of global automotive catalytic converter market.

The report segments the global automotive catalytic converter market on the basis of type, material, and geography.

The market on the basis of types is further segmented into lean NOx trap (LNT), three-way catalysts (TWC), selective catalytic reduction (SCR), lean NOx catalysts (LNC), and diesel oxidation catalyst (DOC).

The report covers the detailed competitive landscape scenario in terms of SWOT analysis of prominent players in key developmental regions. The report offers an analysis of the market conditions for new entrants and new investment feasibility analysis of the major players which will help these new entrants to gain a foothold in the market. furthermore, the report offers a definitive guide to major investors to identify the lucrative market avenues and gain deeper understanding of the market.

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