The global emission control catalyst for motorcycle market is anticipated to expand at a steady 5.8% CAGR over the forecast period between 2021 and 2031, finds Future Market Insights (FMI). The rapid expansion of the automotive industry across the globe is one of the major factors contributing to the growing sales of emission control catalysts for motorbikes.
Emission control catalysts are used in all types of internal combustion engines. Stringent emission regulations to reduce harmful greenhouse gases in the environment worldwide are pushing the sales of catalytic converters.
Increasing sales of scooters and motorbikes due to a growing preference for accessible and cost-effective automobiles in developing economies will surge the demand for emission catalysts. Subsequently, rising motorcycle sales, coupled with growing production of motorbikes in India and China are fueling the sales of emission control catalysts in motorbikes.
Further, the increasing need to meet the emission standard regulations has encouraged manufacturers to focus on the development of new technologies to adhere to the requirements. Hence, the surging adoption of palladium, used in catalytic converters to remove harmful gases such as carbon monoxide from exhaust emission systems is boosting the market.
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As per FMI, India is expected to be the most attractive emission control catalyst for motorcycle market across the globe. Growth is attributable to the burgeoning sales of scooters and motorbikes in the country, coupled with stringent norms to reduce carbon emissions.
Backed by the aforementioned factors, the global emission control catalyst for motorcycle market is projected to top US$ 5,396.2 Million by 2031.
Key Takeaways:
- By product type, demand for the palladium-based catalyst is expected to surge at a 5.7% CAGR over the forecast period.
- By application type, the motorbikes segment is projected to hold approximately 74.9% of the total market share in 2021.
- The rhodium-based catalyst segment is anticipated to grow at 6.2% CAGR through 2031.
- Emission control catalysts for motorcycle market in the U.S. is anticipated to exhibit 4.4% CAGR by the end of 2031.
- China will emerge as an attractive market for emission control catalysts for motorcycles, with sales growing at a 5.5% CAGR during the forecast period.
- India is expected to account for over one-third of the global emission control catalyst for motorcycle market share in 2021.
“Over the forecast period, sales of emission control catalysts are expected to be driven by the growing automotive industry across the globe. Also, the growing population has resulted in high demand and production of motorbikes and scooters across India, China, and other countries in South & East Asia. Hence, key manufacturers are eyeing these regions to capitalize on the growing demand.” says an FMI analyst.
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Competitive Landscape
Key market participants in the global emission control emission for motorcycle market include BASF SE, Johnson Matthey, Heraeus Holding, Solvay SA, Haldor Topsoe, Umicore, NGK Insulators Ltd., Corning Inc., Clariant AG, Mitsui & Co. Ltd, Cormetech, Nett Technologies Inc. and others.
Key players operating in the global emission control catalyst for the motorcycle market are focusing on expanding their production capacities by setting up new manufacturing plants, especially across China and India. They are also aiming for technological advancements for the mass production of emission control catalysts.
For instance:
- In March 2020, BASF SE announced that they have successfully developed an innovative Tri-Metal catalyst that enables partial substitution of high-priced palladium with lower-priced platinum in vehicles.
- In Sept 2018, Heraeus Precious metals opened an advanced precious metals factory in China. The new facility will enhance the company’s capacity to refine and recycle precious metals, especially platinum which is used as an emission and process catalyst for the automotive industry.
Emission Control Catalyst for Motorcycle Market By Category
By Product:
- Palladium based catalyst
- Platinum-based catalyst
- Rhodium based catalyst
- Others
By Application:
- Motorbikes
- Scooters
By End Use:
- OEM
- Retrofit
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More Insights into the Emission Control Catalyst for Motorcycle Market Report
In its latest report, FMI offers an unbiased analysis of the global emission control catalyst for motorcycle market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031.
In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of product type, application, and end use (OEM, retrofit) across ten countries & regions (North America, Latin America, Western Europe, Eastern Europe, China, Japan, South Korea, India, South East Asia, and Middle East & Africa).
About Future Market Insights (FMI)
Future Market Insights (ESOMAR-certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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