Automotive Catalytic Converter Market 2023 - CAGR Status, Major Players, Forecasts 2032

Automotive Catalytic Converter Market Definition

An automotive catalytic converter is a machine that employs a catalyst to change three hazardous compounds into safe ones and consists of three essential components: rare-earth-based elements, alumina, and precious metals, which all work to increase the metal's catalytic activity.

Automotive Catalytic Converter Market Characteristics:

The global automotive catalytic converter market size is expected to grow from $151.85 billion in 2022 to $169.58 billion in 2023 at a compound annual growth rate (CAGR) of 11.67%. The automotive catalytic converter market is expected to reach $229.88 billion in 2027 at a CAGR of 7.90%.

Key Market Drivers And Trends

Drivers Trends

The demand for zero-emission vehicles is driving the automotive catalytic converter market.

Strategic partnership is a key trend gaining popularity in the automotive catalytic converter market.

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Automotive Catalytic Converter Global Market Segments:

The report covers the automotive catalytic converter market’s segmentsBy Material Type

By Type

Two-Way Catalytic Converter, ThreeWay Catalytic Converter

Platinum, Palladium, Rhodium

By Vehicle Type

Two/Three Wheeler, Passenger Vehicle, Light Duty Vehicle, Medium And Heavy Duty Trucks, Bus And Coaches

By Sales Channel Aftermarket, Original Equipment Manufacturer (OEM)

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