Industrial catalytic converters are devices used to control the emission of toxic and harmful pollutants from exhaust gasses by converting them through a redox reaction. A redox reaction consists of either an oxidation reaction or a reduction reaction. As many countries have stringent norms pertaining to environmental safety, every industrial exhaust system should contain catalytic converters.
Industrial catalytic converters find application in several industries, such as refinery, steel, and manufacturing, where the emission of toxic gasses is high. These devices are mainly used to convert harmful exhaust gasses, such as CO (carbon monoxide), HC (hydrocarbons), and NO (nitrogen oxides), among others into less toxic and harmful gasses, such as CO2 (carbon dioxide), N2 (nitrogen), and others.
Request a Complete TOC of this Report with figures: https://www.futuremarketinsights.com/toc/rep-gb-3496
An industrial catalytic converter is made of two columns, ceramic and metallic, and both the columns have a catalyst coating. The ceramic column provides protection from thermal and vibration shocks, and the metallic column is directly mounted on the main body. In this device, platinum, rhodium or palladium are used as catalysts and they are coated on the ceramic column, and attached to the outlet. Earlier, platinum was a widely used catalyst, but nowadays, due to the high cost of platinum, the use of rhodium and palladium is trending.
While there are many types of industrial catalytic converters, two of the prominent ones are two-way catalytic converter and three-way catalytic converter. Two-way industrial catalytic converters are mainly used in some engines, such as diesel, gasoline, and others in order to decrease the emission of CO (carbon monoxide), NO (nitrogen oxide) and HC (hydrocarbons). Three-way converters are used to control highly harmful and toxic gasses emission, such as NO2 (nitrogen dioxide), and nitric oxide, among others that cause smog and acid rain.
Increasing industrialization across the world in industries, such as automobile, chemical, textile, and increasing manufacturing of electrical equipment, and steel products drives the demand for industrial catalytic converters. Additionally, stringent norms set by government authorities in various countries are influencing the demand for industrial catalytic converters.
On the other hand, with the evolution of technology, the automobile industry is shifting towards electric vehicles, which will act as a restraint for the global industrial catalytic converters market. The use of non-noble metals in the manufacturing of industrial catalytic converters is a key trend identified recently. Increase in vehicle production and sales, and increase in global industrialization can foster a strong potential opportunity for this market. At the same time, fluctuating prices of some of the metals used in the manufacturing of industrial catalytic converters can be a major challenge for the market.
Download Your Sample Copy of This Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-3496
Industrial Catalytic Converters Market: Regional Outlook
The Asia Pacific region holds a majority of the market share as compared to other regions, followed by Europe and then North America – both of which are expected to grow at the same rate. The demand for industrial catalytic converters in countries, such as China, India, and South Korea in Asia Pacific is expected to grow, owing to the continuous growth of chemical and textile industries in the region.
Europe is seen as a potential market for the industry, due to the upcoming emission standards for the reduction of carbon monoxide from various industries. Also, Europe and North America show promising opportunities for the industrial catalytic converters market, as the regions are chemical manufacturing hubs. The demand for industrial catalytic converters is anticipated to grow at a CAGR of around 8% globally over the forecasted period, which can be attributed to the increase in demand from textile and manufacturing industries.
Industrial Catalytic Converters Market: Market Participants
Examples of some of the market participants in the industrial catalytic converters market identified across the value chain are Bosal, Katcon, Ningbo Kesen Exhaust Gas Cleaner Manufacturing Co. Ltd., Wuxi Weifu Lida Catalytic Converter Co. Ltd., Catalytic Products International, Dcl International Inc., Standard Teco. Limited, Teco Limited, and AP Exhaust Products.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report covers exhaust analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Industrial Catalytic Converters Market: Segmentation
Market segmentation of the industrial catalytic converters market on the basis of its types:
Market segmentation of the industrial catalytic converters market on the basis of the applications:
- Portable Generators, Portable Heaters
- Furnace and Chimney
- Forklifts, Cranes and Lifting Equipment
- Air Compressors
- Drilling and Well-Digging Machines
- Pile Drivers and Bridge-Building Machinery
- Construction Equipment
Ask us your Any Queries About this Report: https://www.futuremarketinsights.com/askus/rep-gb-3496
Market segmentation of the industrial catalytic converters market on the basis of the end use industry:
- Oil and Gas
- Metal and Mining
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Industrial Automation Market Insights Landscape
Electrical Testing Services Market – The global electrical testing services market witnessed year-on-year (YoY) growth of 6.3% in 2021. It is projected to grow at a CAGR of 7.1% between 2021 and 2031, reaching US$ 13.4 Bn by the end of the assessment period.
Machine Tool Touch Probe Market – The global machine tool touch probe market to grow with a year on year growth of 3.6% in 2022 reaching a value of about US$ 615.1 Mn by 2022 end.
Air Separation Plant Market – The global air separation plant market enjoys a valuation of US$ 5.9 Bn, and projected to expand at a CAGR of 5% to attain a net worth of US$ 7.9 Bn by the end of 2028.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Future Market Insights,
1602-6 Jumeirah Bay X2 Tower,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
For Sales Enquiries: firstname.lastname@example.org
For Media Enquiries: email@example.com
Why pay for news and opinions when you can get them for free?
Subscribe for free now!
NEWS4 days ago
Heavy winter sweaters, coats pile up at stores as warm weather threatens holiday shopping season
NEWS4 days ago
Nobel Peace Prize could honour Indigenous, women or green activists
NEWS4 days ago
Cellnex sells stake in units in Sweden, Denmark for $772 million to Stonepeak
NEWS4 days ago
Italy’s Enel sells 50% of its Australia green business to INPEX