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Catalytic Converter Market Worth $73.1 Billion by 2025 – Exclusive Report by MarketsandMarkets™

Vlad Poptamas

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According to the new market research report “Catalytic Converter Market by Type (FWCC, TWCC, SCR, DOC, and LNT), Material (Platinum, Palladium, and Rhodium), Vehicle Type (Passenger Cars, LCV, Bus & Truck, Construction, and Agriculture & Mining), Aftermarket and Region – Global Forecast to 2025″,published by MarketsandMarkets™, the Catalytic Converter Market is estimated to be USD 42.4 billion in 2018 and is projected to reach USD 73.1 billion by 2025, at a CAGR of 8.10%. The increasing vehicle production and stringency in emission norms are projected to drive the Catalytic Converter Market.

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Truck segment is expected to grow at the highest CAGR in the global Catalytic Converter Market during the forecast period

Trucks are usually equipped with catalytic converters such as DOC and SCR. The market is estimated to be dominated by Asia Oceania as this region is the largest contributor to the global truck production in recent years. As per OICA statistics, Asia Oceania had the largest market share in truck production for 2017. From 2014 to 2017, truck production increased by almost 20% globally with 14% in Asia Oceania. As trucks are equipped with larger engines and emit more emissions, regulatory authorities are tightening the norms for heavy vehicles. This will force OEMs to deploy catalytic converters. Most of the heavy trucks are usually equipped with DOCs, and the upcoming regulatory compliances along with the rising truck production would boost the market for SCR devices in heavy trucks in the coming years.

Browse in-depth TOC on “Catalytic Converter Market

123 – Tables

64 – Figures

211 – Pages  

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https://www.marketsandmarkets.com/Market-Reports/catalytic-converter-systems-market-128255548.html

Passenger car leads the catalytic converter aftermarket owing to high vehicle parc

The passenger car segment holds the largest market share for the catalytic converter aftermarket owing to the maximum vehicle parc. According to MarketsandMarkets™ analysis, the contribution of passenger cars in the overall vehicle parc stood at nearly 74.5% in 2017 which is anticipated to grow at a prominent rate in the coming years. The emission regulations are getting more stringent as well. Between the Euro 4 to Euro 6, particulate matter and NOx levels have reduced significantly. This has prompted the installation of new catalytic converters such as DOC and SCR in older vehicles which have further spurred the demand for catalytic converters in the aftermarket for passenger cars.

Palladium is expected to be the largest market, by material, in the global Catalytic Converter Market during the forecast period.

Palladium is primarily used for catalytic converter applications. Considering the current and historic cost advantage of palladium, gasoline catalytic converter technology is now almost exclusively palladium-based. Therefore, the market for palladium has thrived. Further, given the cost advantage of using palladium over platinum, there is a demand for developing technologies that use palladium.

Asia Oceania is expected to account for the largest market size during the forecast period

Asia Oceania has the largest market share of vehicle production with about 54–56% of the total vehicle production. ChinaIndia, and Japan are the largest vehicle production hubs because of rising urbanization, increasing GDP, and industrialization among others. With the growing vehicle production, vehicle emissions have also increased significantly. Considering this, few countries such as ChinaJapan, and India have implemented vehicle emission norms. For instance, China and India are currently running on China IV and BS IV. However, they are planning to implement China VI and BS VI by 2020 which is equivalent to Euro VI. Moving toward strict emission norms will create a huge demand for various aftertreatment devices. In Asia Oceania, China and Japan are the leading countries for the Catalytic Converter Market, by aftertreatment device.

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The Catalytic Converter Market is dominated by the global players and comprises several regional players. Some of the key players in the Catalytic Converter Market are Faurecia (France), Tenneco (US), Continental (Germany), Eberspächer (Germany), Johnson Maththey (UK), Umicore (Belgium), Futaba (Japan), BAEF (Germany), CDTI Materials (US), and Benteler International (Austria).

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SOURCE MarketsandMarkets

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Automotive

Nationwide partners with Slice Labs to develop on-demand auto insurance for rideshare drivers

Vlad Poptamas

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As the number of rideshare drivers continues to increase in the U.S., many face a complex gauntlet when seeking auto insurance solutions to meet their needs. Nationwide has taken an innovative step to develop on-demand rideshare insurance solutions for drivers who work for transportation network companies (TNC), such as Uber and Lyft, through its new partnership with Slice Labs, an insurance cloud services platform provider.

“This partnership exemplifies our commitment to innovation by leveraging technology to provide rideshare drivers with a flexible and comprehensive insurance product,” said Teresa Scharn, associate vice president of product development for Nationwide. “We are partnering with Slice Labs to develop a new insurance solution for rideshare drivers that is not available on typical ridesharing endorsements or available through TNC companies.”

Nationwide and Slice Labs are developing an insurance solution for rideshare drivers that will enable them to purchase on-demand coverage unique to their industry via an app, and at variable increments that align with the time they are driving for their ridesharing platform. Coverage spans from the moment rideshare drivers activate coverage on the app to when they stop coverage on the app. This timespan can range from just a few minutes up to multiple hours.

“The rideshare market is a prime example of the benefits of providing on-demand services to consumers,” said Tim Attia, CEO of Slice Labs. “The partnership with Nationwide is an important step in the evolution of the traditional auto product to meet the demands of future mobility solutions in an increasingly digital and on-demand world.”

Nationwide plans to launch its new insurance solution for rideshare drivers later this year.

Nationwide innovation efforts gain momentum

The partnership with Slice Labs is one of many actions Nationwide is taking to meet member needs now and in the future. Other actions include:

SOURCE Nationwide

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Amusement Parks and Tourist Attractions 

RVshare Launches National Parks Guides

Vlad Poptamas

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Photo source: heathandalyssa.com
Reading Time: 2 minutes

 

RVshare, the world’s largest RV rental marketplace, has launched in-depth guides to all 60 of the United States’ National Parks. According to RVshare customer data, more than half of RV renters are headed to national parks. In response, RVshare’s team of travel experts created these guides to serve as an easy-to-use online resource to navigate the ins and outs of national parks. They provide valuable tips in one place, including the best hiking trails, nearby towns and entertainment, where to camp, and more. Explore the guides at www.rvshare.com/national-parks.

“We want to change the way people experience our National Parks,” says Megan Buemi, Sr. Content Marketing Manager at RVshare. “Taking an RV trip lets travelers really get up close and personal with what the parks have to offer. Being able to camp right in the park under the stars, or step out of your RV to start hiking up a mountain or along a beach is a pretty incredible and unique experience.”

According to the National Park Service, an estimated 331 million people visited National Parks in the U.S. in 2017. With 60 parks spanning across the country, adventure-seekers in every region have access to explore at least one of the scenic, preserved lands. In addition to popular destinations like the Grand Canyon, the RVshare National Park guides spotlight lesser-known parks, such as Wind Cave in South Dakota, and the remote North Cascades in Washington.

With the guides, RVshare’s goal is to highlight the breathtaking views, incredible wildlife and endless adventure of the parks and encourage travelers to explore the beautiful escapes in an unparalleled experience, quite different than staying at a hotel and driving in for the day. In addition to being immersed in nature and having immediate access to campfires and beautiful trails, RVs offer the added benefit of bringing more family members and pets along.

Other features to enhance the experience include RV delivery options in select cities, roadside assistance and 24/7 customer service and insurance.

For additional information and to book your next rental, visit rvshare.com.

 

SOURCE RVshare

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Automotive

Laser Cutting Machine Market to Witness Growth Owing to Rising Demand From Automotive Industry by 2028 | Million Insights

Vlad Poptamas

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Photo source: spanish.alibaba.com
Reading Time: 3 minutes

 

Global Laser Cutting Machine Market is estimated to grow considerably in the forecast period owing to the flourishing automotive industry. Laser cutting is a technology that cuts steel and alloy materials used for industrial applications. It is majorly used in applications, such as internal and external body fabrication for aircraft, ships, robots, automobiles, art and sculpture. Laser cutting machines enable metal fabricators to manufacture high-quality components that need minimum, if any, finishing work. In the laser cutting process, laser never damages the metal, leading to less or no wearing out on the machine.

Laser cutting machine market is majorly driven by growing industrialization, increase in urbanization, high adoption of laser cutting machines by end users, and rise in investments by manufacturers. However, significant cost associated with the installation of these machines, low technical expertise and high consumption of power are predicted to restrain the laser cutting machine industry.

Browse research report with TOC on “Global Laser Cutting Machine Market” at: https://www.millioninsights.com/industry-reports/laser-cutting-machine-market

Increasing automation in laser cutting machines is an emerging trend in the market. Moreover, manufacturers are increasingly focusing on reducing prices of laser cutting machines due to high adoption by end users and intense competition among the market players. Laser cutting machines market is categorized on the basis of process, technology, end user, and geography. On the basis of process, laser cutting machine industry is divided into flame cutting, fusion cutting, and sublimation cutting.

Based on technology, laser cutting machine market is split into gas lasers, semiconductor lasers, and solid state conductors. Gas segment is anticipated to lead the market in future due to rise in demand for better-quality equipment and machining tools. Moreover, semiconductor lasers segment is expected to lead the market due to its wide applications. Semiconductors are comparatively cheaper than other types of lasers, consumer less power, and are compact in size.

In terms of end user, laser cutting machine industry is bifurcated into consumer electronics, industrial use, automotive applications, defence and aerospace, and others. Consumer electronics segment is predicted to contribute significantly to the market due to growing urbanization and high demand from consumer electronics from both developing and developed economies. Furthermore, defence and aerospace and automotive segments lead the market due to increase in applications and rise in demand for automobiles.

Geographically, laser cutting machines market is segmented as North AmericaLatin AmericaEuropeAsia Pacific, and Middle East & AfricaNorth America is predicted to dominate the market owing to the mature industrial market. Asia Pacific also leads the market due to developments in the automotive sector, increase in demand for consumer electronics and growing industrialization.

The leading players in laser cutting machines industry include ALPHA Laser GmbH, IPG Photonics Corporation, Jenoptik Laser GmbH, Trumpf GMBH + Co. KG, Amada Miyachi Company, Ltd., Epilog Laser Inc., Coherent Incorporation, Bystronic Incorporated, Cincinnati, Cutlite Penta, CY LASER, DANOBATGROUP, DPSS Laser, Hypertherm, Jenoptik, Laser Photonics, Prima Industries, Trotec Laser, Universal Laser Systems, Vytek Laser Systems, and Xenetech Global.

Browse reports of similar category available with Million Insights:

Market Segment:

  • Leading players of Laser Cutting Machine including:
    • Trumpf
    • Han’S Laser
    • Bystronic
    • Mazak
    • Amada
    • Coherent
    • Prima Power
    • Mitsubishi Electric
    • HG Laser
    • Koike
    • DMG MORI
    • Tianqi Laser
    • Unity Laser
    • LVD
    • Cincinnati
    • Universal Laser Systems
    • Tanaka
    • Penta-Chutian
    • IPG Photonics
    • Lead Laser
    • Epilog Laser
    • Trotec
    • GF
    • CTR Lasers
    • Spartanics
    • Microlution
    • Boye Laser
    • Kaitian Laser
    • HE Laser
    • Golden Laser
  • Market split by Type, can be divided into:
    • CO2 Laser Cutting Machine
    • Fiber Laser Cutting Machine
    • YAG Cutting Machine
  • Market split by Application, can be divided into:
    • Metal Materials Cutting
    • Non-metal Materials Cutting
  • Market split by Sales Channel, can be divided into:
    • Direct Sales
    • Distribution Sales
  • Market segment by Region/Country including:
    • North America (United StatesCanada and Mexico)
    • Europe (Germany, UK, FranceItalyRussia and Spain etc.)
    • Asia-Pacific (ChinaJapan, Korea, IndiaAustralia and Southeast Asia etc.)
    • South America BrazilArgentinaColombia and Chile etc.)
    • Middle East & Africa (South AfricaEgyptNigeria and Saudi Arabia etc.)

SOURCE Million Insights

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