Global Emission Control Catalyst Market is expected to reach USD 11.09 billion by 2024, according to a new report by Grand View Research, Inc. Improving application of three-way oxidation-reduction converters in automotive applications is expected to drive market growth. Stringent environment regulations aimed at reducing carbon emissions in the major markets including U.S., Germany, India and Japan is projected to have a favourable impact on the market over the forecast period.
Increasing energy requirement from household and industrial sectors emerging economies including China and India coupled with favourable policies for the implementation of solutions to reduce emission is expected to fuel the demand for catalysts.
The automotive sector is expected to foresee growth at a CAGR of 4.3% from 2016 to 2024, in terms of volume. The emergence of Mexico as an automotive production destination on account of rising domestic demand for passenger and commercial vehicles along with proximity to the U.S. is expected to increase the application of emission reduction catalyst over the next eight years.
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Further key findings from the report suggest:
View all Related Reports from same Category: http://www.grandviewresearch.com/industry/catalysts-and-enzymes
Grand View Research has segmented the global emission control catalyst market by product, application and region:
Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 – 2024)
Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 – 2022)
Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 – 2024)
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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