Share this article Share this article NEW YORK, May 24, 2021 /PRNewswire/ -- The automotive catalytic converter market is set to grow by USD 2.93 billion, progressing at a CAGR of over 1% during 2021-2025. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.
Technavio has announced its latest market research report titled Automotive Catalytic Converter Market by Application and Geography - Forecast and Analysis 2021-2025 The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. BASF SE, CDTi Advanced Materials Inc., Continental AG, Eberspacher Group, Faurecia SE, Johnson Matthey Plc, Katcon Global, Klarius Products Ltd., Marelli Holdings Co. Ltd., and Tenneco Inc. are some of the major market participants. Factors such as the stringent regulations to control emissions, the reduction in emissions by catalytic converters, and the increasing global sales (by volume) of passenger vehicles will offer immense growth opportunities. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments while maintaining their positions in the slow-growing segments.