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India Catalytic Converter Market Research Report: By Converter Type (Three-Way Catalytic Converter, Four-Way Catalytic Converter, Diesel Oxidation Catalyst, Selective Catalytic Reduction, Lean NOx Trap), Material (Palladium, Platinum, Rhodium), Vehicle (Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle, Off-Highway Vehicle), Distribution Channel (OEM, Aftermarket) - Industry Analysis and Growth Forecast to 2030

  • Publishing: May 2021
  • Report Code: AT12003
  • Available Format: PDF

India Catalytic Converter Market Overview

Catalytic Converter is an exhaust emission control device that reduces toxic gases and pollutants in exhaust from an internal combustion engine by catalyzing a redox reaction (an oxidation and a reduction reaction). The Indian catalytic converter market is expected to witness significant growth in the forecast period (2020–2030), due to high vehicle production and growing personal vehicle ownership in India as a result of high economic growth and increase in disposable income. Moreover, the concerns toward growing air pollution and ways to mitigate the risk and achieve a sustainable habitat for everyone are driving the market in India.

The Indian catalytic converter market based on converter type is categorized into three-way catalytic converter (TWCC), four-way catalytic converter (FWCC), diesel oxidation catalyst (DOC), selective catalytic reduction (SCR), and lean NOx trap (LNT). The Supreme Court of India and the National Green Tribunal Act (NGT) have categorized diesel vehicles as the largest contributor to air pollution among all permitted vehicle class in India. After Bharat Stage 6 norms getting mandated by the government and regulatory bodies, the SCR category is expected to witness fastest growth, due to its ability to reduce nitrogen oxides (NOX) up to 85% in vehicular exhausts.

The Indian catalytic converter market in terms of vehicle type is categorized into passenger vehicle, light commercial vehicle, heavy commercial vehicle, and off-highway vehicle. Of these, the passenger vehicle category is forecasted to have largest share due to increase in ownership of passenger vehicles. Further, heavy commercial vehicles are expected to have fastest growth due to their heavy reliance on diesel as fuel.

The Indian catalytic converter market on the basis of distribution channel is classified into original equipment manufacturer (OEM) and aftermarket. Historically, the OEM category was the larger shareholder and is expected to maintain its dominance in forecast period as well, due to increased pre-installation of devices by the OEMs, in wake of government and regulatory norms, to reduce vehicular emissions. As per analysis, the aftermarket category is expected to be the grow faster, owing to increase in wear and tear and subsequent replacement.

India Catalytic Converter Market Dynamics

Drivers

The stringent emission and fuel efficiency norms like Bharat Stage 6 are expected to drive the sale and adoption of catalytic converters in the Indian automotive industry. Although diesel vehicles are being one of the major causes of concern for environmental degradation, their role in transportation and logistics sector cannot be immediately substituted by other fuel sources. Thus, these vehicles will be bound to use efficient catalytic converters to overcome the emission regulations, and will drive the growth of the Indian catalytic converter market.

Restraint

It is forecasted that the 2020s will witness the growth in adoption of electric vehicles in the Indian automotive market. With government aggressively pushing electric vehicles for personal and shared mobility through incentive schemes and programs like National E-Mobility Program and Faster Adoption and Manufacturing of Electric Vehicles in India Phase II (FAME 2), the sales of conventional vehicles, specially diesel vehicles, will decline. This will be a major restraint for the India catalytic converter market.

India Catalytic Converter Market Competitive Landscape

Some of the important players operating in the Indian catalytic converter market are Albonair GmbH, BASF SE, Corning Incorporated, Cummins Inc., Johnson Matthey, IBIDEN, Ngk Insulators Ltd., Umicore N.V., Unifrax, and Süd-Chemie India Pvt Ltd.

The report also includes geography-wise analysis of the Indian catalytic converter market. The major states covered in the report are the Maharashtra, Tamil Nadu, Karnataka, Uttar Pradesh, Gujarat, Kerala, and Delhi.

India Catalytic Converter Market Size Breakdown by Segment

Based on Converter Type

  • Three-Way Catalytic Converter (TWCC)
  • Four-Way Catalytic Converter (FWCC)
  • Diesel Oxidation Catalyst (DOC)
  • Selective Catalytic Reduction (SCR)
  • Lean NOx Trap (LNT)

Based on Material

  • Palladium
  • Platinum
  • Rhodium

Based on Vehicle

  • Passenger Vehicle
  • Light Commercial Vehicle
  • Heavy Commercial Vehicle
  • Off-Highway Vehicle

Based on Distribution Channel

  • Original Equipment Manufacturer (OEM)
  • Aftermarket

Geographical Analysis

  • Maharashtra
  • Tamil Nadu
  • Karnataka
  • Uttar Pradesh
  • Gujarat
  • Kerala
  • Delhi
  • Rest of India
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