A Catalytic Converter is a device used to decrease the harmful emissions from an internal combustion engine mostly used in modern-day vehicles and automobiles. Additionally, less amount of oxygen is available in these engines for oxidization of carbon fuel completely into carbon dioxide and water thus, toxic by-products are generated. Moreover, catalytic converters are used in exhaust systems to provide a site for the oxidation and reduction of toxic substances such as nitrogen oxides, carbon monoxide, and hydrocarbons into less hazardous by-products such as carbon dioxide, and water vapor. Catalyst is a chemical substance that enhances the rate of a chemical reaction by taking part in it and remains unchanged at the end of the reaction. Additionally, the growing concern of governments and individuals regarding the air and noise pollution created by automobiles is supporting the growth of the Catalytic Converter Market in the period of forecast.
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Eugene Houdry invented the catalytic converter, he was a French mechanical engineer, skilled in catalytic oil refining. The innovation of catalytic converters holds a major role in controlling harmful emissions. Houdry first manufactured catalytic converters for smokestacks and then developed catalytic converters for warehouse forklifts that use low-grade non-leaded gasoline. Furthermore, he began his research to make advancements in catalytic converters for gasoline engines that became used on cars in the mid-1950s.
The key market players for the global Catalytic Converter Market are listed below:
BASF SE (Germany),CDTi Advanced Materials Inc. (U. S),Continental AG (Germany),Eberspächer (Germany),Faurecia (France),BOSAL (Belgium),Yutaka Giken Company Limited (Japan),Sejong Industrial Co. Ltd (Korea),Marelli Europe S.p.A (Italy),Sango Co. Ltd (Japan),Tenneco Inc (U. S),Others
Major geographies analyzed under this research Catalytic Converter Market report are:
- North America
- Asia Pacific
- Europe
- Middle East & Africa
- Latin America
In market segmentation by Type, the Catalytic Converter Market report covers:
Three-Way Oxidation-Reduction Catalytic Converter, Two-Way Oxidation Catalytic Converter, Diesel Oxidation Catalyst
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Catalytic Converter Market place report introduces revenue gain, prospective and prospective chances, the market analysis scenario, prices and profitability. The data in this report is accumulated by Catalytic Converter Market Research's dedicated research and analysis team of professionals with various customization options and advanced expertise from the current study.
In market segmentation by Application, the Catalytic Converter Market report covers:
Passenger Cars, Light Commercial Vehicles (LCV), Heavy Commercial Vehicles (HCV)
Key Industry Development in Catalytic Converter Market
In September 2021, BASF has announced it has acquired expanded Zodiac Enterprises LLC in Caldwell, Texas. With this acquisition, BASF has expanded its chemical catalyst recycling capacity and capability. This acquisition will also enhance BASF's smelting capacity in North America. Moreover, this manufacturing plant will help in recycling precious metals which are used as chemical catalysts in the catalytic converter.
In February 2020, Walker Emissions Control, a leading global manufacturer from DRiV, declared new replacement catalytic converter and muffler product offerings for 16 million vehicles in function in North America. Each Ultra direct-fit converter aids in checking engine light off for emissions codes further, enhances engine performance with OE-style high-technology washcoat and optimal precious metal load, delivering the required decrease in tailpipe emissions to match vehicle utilization.
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The Catalytic Converter Market report concludes with comprehensive details on the enterprise operations and financial arrangement of leading vendors in the Catalytic Converter Market report, Summary of important trends in the past and are in accounts that are reported to be good for companies searching for venture businesses in the market. Information about the marketing channels and vendors in the forex market was provided here. This study serves as a rich guide for players and new players on the marketplace.
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