Wed. Sep 18th, 2019

Gem Newz

Your News Buddy

Automotive Three-way Catalytic (TWC) Converter Market – Trends, Share, Scope, Research Insights by 2026

3 min read

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.

To obtain all-inclusive information on forecast analysis of Global Automotive Three-way Catalytic (TWC) Converter Market, request a PDF brochure here.

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.

Leave a Reply

Your email address will not be published. Required fields are marked *