26 May 2020: An automotive catalytic converter, a stainless-steel box fitted in the exhaust system, is a device that mainly uses a catalyst to change three harmful mixtures in car exhaust into unhazardous complexes. The automotive catalytic converters industry is taking huge efforts to develop vehicles that remove harmful emissions, thereby increasing vehicle effectiveness. Companies are working toward reaching expertise in the regulation’s compliance, cost-effective solutions, global rules, and optimum vehicle performance, in turn, driving substantial development for the automotive catalytic converter in the years to come.
Three-Way Oxidation-Reduction Sector to Witness Substantial Development
On the basis of product type, the automotive catalytic converter market is segmented into three-way oxidation-reduction, diesel oxidation catalyst, and two-way oxidation type catalytic converters. These factors are entirely accountable for the change of oxides of nitrogen to nitrogen and oxygen as well as the oxidation of unburnt hydrocarbons and carbon monoxide to carbon dioxide and water.
The three-way oxidation-reduction product type segment is anticipated to witness substantial development in the forecast period. Whereas diesel oxidation catalyst (DOC) sector is entirely used for diesel engines across numerous vehicle sectors. Diesel engine exhausts comprise particulate matter which contains aerosols and diesel soot such as ash metallic abrasion particles along with sulfates, silicates, and particulates. They are cleaned up by a diesel particulate filter or soot trap in the DOC type converters thus discharging exhausts free of particulates.
Market Insights
The major company participants in market include BASF Catalysts, Faurecia, Eberspaecher, Tenneco, and Magneti Marelli. The automotive catalytic converter market is extremely fragmented and is driven by product and technological innovations. Vendors are growing their product offering for an extensive range of automobile assemblers and brands along with the automotive aftermarket sector.
In addition, acceptance of up-to-date ways of distribution such as online catalogs and e-commerce by several vendors have added value to their distribution network and product offering. Manufacturers are rapidly growing their local existence catering to automobile manufacturers all over the world and establishing associations with technology suppliers and raw material as their significant development strategy to make their existence felt in the market.
No comments:
Post a Comment