Market Research Future (MRFR)will be publishing a
cooked research report on “Global Mobile Emission Catalysts Market Size” that
contains the information from 2018 to 2028.
MRFR recognizes the following companies as the key players
in the global Mobile Emission Catalysts Market Size—BASF SE (Germany), Solvay
(Belgium), Johnson Matthey (UK), Clariant (Switzerland), Umicore AG & Co.
KG(Belgium), Cataler Corporation (Japan), Corning Incorporated (US), Heraeus
Holding (Germany), Tenneco Inc. (US), N.E. CHEMCAT (Japan), and Zeolyst
International, Inc (US), among others.
Market Highlights
The global Mobile Emission Catalysts Market Size is
projected to be valued at USD 29,970.31 million by the end of
2028,registering a CAGR of around 7.2%during the forecast period.
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The mobile emission control catalysts are the key
constituents of automobiles powered by internal combustion engines. These help
mitigate the harmful effects of pollutants—such as NOx, carbon monoxide,
unburned hydrocarbons, particulate matter, diesel carbon particulates (soot),
and greenhouse gases—released in the exhaust.
The primary factor driving the global Mobile Emission
Catalysts Market Size is stringent emission norms and regulations for
environmental and human safety. Additionally, increasing automotive production
and their harmful emissions supports the growth of the global Mobile Emission
Catalysts Market Size. According to the World Health Organization, around 4.2
million premature deaths globally are reported due to outdoor air
pollution—black carbon being the major contributor. In 2017, GHGs released by
the transportation sector were 29% of the global emissions,according to the
U.S.Environmental Protection Agency. The high emission of GHGs has resulted in
the imposition of norms by several organizations pertaining to exhaust
emission. According to the data provided by the European Union, the consumption
of energy is highest in the roadways segment—standing at 82%—while 18% is in
the aviation, rail, pipeline transport, and non-specific transport segments.
Thus, vehicular emissions highly contribute to GHG emissions.
Covid Impact Analysis
The outbreak of COVID-19 has resulted in the shutting of
factories and businesses, canceled air transport routes, and lockdowns and has
negatively impacted the industry. However, with the lift of lockdown measures
and trade restrictions, the demand is expected to gain pace and drive the
market growth.
The governments and managements have imposed a number of
fiscal and monetary policies across the globeto limit the damage caused by
COVID-19, which is expected to result in certain relief for consumers.
Segment Analysis
The global Mobile
Emission Catalysts Market Size has been segmented on the basis of metal
type, technology, vehicle type, and region.
On the basis of metal type, the global Mobile Emission
Catalysts Market Size has been segmented into palladium, platinum, rhodium, and
others. The palladium segment accounted for the largest market share in 2020,
with the highest CAGR of over 7.80%. It is extensively used to neutralize toxic
pollutants by turning them into carbon dioxide and water vapor. The growing
usage of gasoline engines results in the growth of palladium in the global
mobile emission catalyst market.
By technology, the Mobile Emission Catalysts Market Size has
been categorized into Three-way conversion catalyst (TWC), Four-way conversion
catalyst (FWC), Diesel oxidation catalyst (DOC), catalyzed soot filter (CSF),
selective catalytic reduction (SCR), Lean GDI catalyst (LGC), electrically
heated catalytic converter (E-CAT), and others. Among these, the diesel
oxidation catalyst segment emerged as the fastest-growing segment during the
review period.The diesel oxidation catalyst is a technology that breaks down
pollutants in the exhaust stream from a diesel engine and turns them into less
harmful components.
Based onvehicle type, the global market is classified
intolight-duty vehicles, heavy-duty diesel, natural gas vehicles, motorcycles,
utility engines, and others. The light-duty vehicles accounted for the largest
market share in 2020; this is because the light-duty vehicles category
comprises passenger cars, vans, and light commercial vehicles. These are
affordable for middle-class consumers and there fore witness higher sales.
Thereby the global Mobile Emission Catalysts Market Size.
Key Findings of the Study:
- The
global Mobile Emission Catalysts Market Size is projected to reach a value
of USD 29,970.31 millionby 2028, with a CAGR of around 7.55%during the
forecast period from 2021 to 2028.
- Asia-Pacific
accounted for the largest market share in 2020; this is due to the high
production and sales of automobiles in countries such as China, India,
and Indonesia.
- Middle
East & Africa is expected to be the fastest-growing regional market
registering a CAGR of over 7%.
- With
the rising concern regarding energy conservation and climate change, the
demand for efficient internal combustion engines to reduce toxic
emissions is increasing rapidly, which is expected to favor the growth of
the Mobile Emission Catalysts Market Size in the coming years.
- The
proliferating automotive industry in Latin America and the Middle East
& Africa—coupled with a high focus on product innovation and novel
technology development—are key opportunities in this market.
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