The latest report on Auto Catalyst Market by Infinium Global Research gives complete coverage of the autocatalyst market by application (HDV, LDV-gasoline and LDV-diesel) in terms of key trends, market size, forecast and CAGR growth over the period of 2019 to 2025. In addition, the study covers deep dive into key product and application trends in the regional markets of an auto catalysts such as North America, Europe, Asia-Pacific and Latin America over the short run and long run.
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The Environment is the Factors Driving the Growth of the Auto Catalyst Industry
Auto catalysts are a substance used in automotive emission systems that transform toxic gases and pollutants into harmless gases before releasing them into the environment. Vehicle exhaust contains a number of harmful elements that can be controlled by autocatalysts. Auto catalysts are used in all types of diesel and petrol engines including lead burn engines and can be used in kerosene heaters and stoves.
Autocatalysts help in converting toxic substances in exhaust gases such as hydrocarbon, carbon monoxide, and nitrogen oxide into harmless nitrogen, water, and carbon dioxide. A catalyst system for diesel engines additionally employs a filter to eliminate fine particulates (soot) which are a significant cause of lung and cardiovascular disease. On the other hand, a rise in the production of automobiles and stringent government regulations to check the emissions from vehicles is further augmenting the demand for auto catalysts over the upcoming years.
Moreover, increasing environmental concern among the people and government initiatives to reduce the impact of human activities on the environment are the factors driving the growth of the auto catalyst market. However, increasing demand for an electric vehicle is likely to hinder the growth of the market. Moreover, the rise in the production of the automotive industry is anticipated to create growth opportunities for the autocatalyst market during the forecast period.
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Automotive Sales in This Region are Expected to Witness Modest Growth in the Coming Years
Asia Pacific region emerged as the largest region for the autocatalyst market followed by Europe. Asia Pacific region houses 60% of the global population. Countries like China, India, and Japan have the highest number of passenger car sales. Also, the sales of the motorcycle are the highest in countries like India, China, Vietnam, and Indonesia. With a rising economy and high disposable income countries and increasing awareness about noise pollution and fuel consumption, the Asia Pacific region remains dominant in this market, throughout the forecast period. On the other hand, growing environmental concerns and stringent exhaust noise laws are anticipated to maintain dominance in the North American and European markets in the upcoming years. Moreover, automotive sales in this region are expected to witness modest growth in the coming years.
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Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the autocatalyst.
- Complete coverage of all the product types and application segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.