The automotive three-way catalytic converter (TWC) is an emission-controlling device fitted in the exhaust of a gasoline-powered vehicle. The automotive TWC converter is utilized to reduce nitrogen oxide, carbon monoxide, and hydrocarbons present in the exhaust of the vehicle. The automotive TWC converter is made of a honeycomb structure loaded with platinum group metals such as platinum, palladium, and rhodium.

Vehicle pollution is rising at an alarming rate, stringent pollution norms are being enacted by governments to curb pollution, thus driving the automotive TWC converter market. The penetration of gasoline-powered vehicles is increasing, as they emit lesser pollution than diesel-powered vehicles. The U.K. has levied 50% surcharge to park a diesel car in London in order to discourage the usage of diesel vehicles. Financial incentives to promote the sale of low emission vehicles such as hybrid and plug-in hybrid vehicles are also expected to boost the demand for automotive TWC converters. North America witnessed high penetration of gasoline-powered vehicles. Adoption of U.S. 2010 pollution norm compels all gasoline-powered vehicles to be fitted with TWC converters. Countries in Latin America such as Brazil and Mexico have proposed to adopt the Euro 6 equivalent standards.

Rising awareness about pollution in developing countries is anticipated to boost the demand for TWC converter. China and India have proposed to adopt the China 6 and Bharat stage 6 emission norms, respectively, by 2020, which in turn is expected to fuel the demand for automotive TWC converters. Automotive TWC converters are expected to be used in unison with gasoline particulate filters in order to comply with Euro 6 emission norms. TWC converters are thus likely to witness a high demand even during advanced emission stages. Rising demand for hybrid and plug-in hybrid vehicles and usage of gasoline fuel in such vehicles is fueling the demand for automotive TWC converters.

Automotive TWC converters do not find application in diesel-powered and battery electric vehicles, which is a restraining factor for the market.

The global automotive TWC converter market can be segmented based on vehicle, catalyst material, sales channel, and region

Based on vehicle, the automotive TWC converter market can be classified into passenger vehicle, light commercial vehicle, and heavy commercial vehicle. The passenger vehicle segment is expected to hold a dominant share of the market due to the high usage of gasoline-powered engines, thus driving the automotive TWC converter market. The light commercial vehicle segment is expected to gain market share owing to a significant rise in adoption of gasoline fuel powered light commercial vehicles during the forecast period.

In terms of catalyst material, the automotive TWC converter market can be segregated into platinum, palladium, and rhodium. Palladium TWC converters are expected to witness higher demand, as palladium is considerably lower priced that platinum and is gradually replacing the platinum content in TWC converters.

Based on sales channel, the automotive TWC converter market can be bifurcated into OEM and aftermarket. The OEM segment is expected to dominate the market, as the TWC converter comes fitted as a mandatory emission control device. Presence of faulty TWC converter results in pollution test fails, resulting in penalty charges, thereby driving the aftermarket segment.

In terms of region, the automotive TWC converter market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is expected to dominate the global TWC converter market due to transitory emission norms in China and India and stringent policies in Japan.

Key players operating in the global automotive TWC converter market include Johnson Matthey Calsonic Kansei, Eberspacher GmbH, Katcon, and Friedrich Boysen GmbH & Co. KG.

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Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Automotive Threeway Catalytic Converter Market

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