India is expected to lead the global emission control catalyst for the motorcycle market share in 2021 due to an increase in demand and production of motorbikes and scooters. Key manufacturers are focusing on expanding production capacities and investing in technological advancements to meet the rising demand for emission control catalysts. The global emission control catalyst for motorcycle market is segmented by product type, application, and end-use across ten countries and regions, with palladium-based catalysts expected to surge at a 5.7% CAGR over the forecast period. Future Market Insights 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. The report highlights the various product types and applications in the market and provides insights into the competitive landscape of key players operating in the market, including BASF SE, Johnson Matthey, Heraeus Holding, Solvay SA, Haldor Topsoe, Umicore, NGK Insulators Ltd., Corning Inc., Clariant AG, Mitsui & Co. Ltd, Cormetech, and Nett Technologies Inc.
Understanding Emission Control Catalysts for Motorcycles: A Science-based Approach to Reducing Air Pollution
According to Future Market Insights (FMI), the global market for emission control catalysts for motorcycles is expected to grow at a steady 5.8% CAGR between 2021 and 2031. The growth of the automotive industry worldwide is one of the significant factors contributing to the surge in demand for these catalysts.
Emission control catalysts are necessary components for all types of internal combustion engines. In response to stringent global emission regulations that aim to reduce harmful greenhouse gases, catalytic converters are becoming increasingly popular.
The sales of emission control catalysts for motorcycles are expected to increase due to rising sales of scooters and motorbikes in developing economies. The need to meet emission standard regulations has also encouraged manufacturers to develop new technologies that meet the requirements. The adoption of palladium, which is used in catalytic converters to remove harmful gases such as carbon monoxide from exhaust emissions, is growing, further boosting the market.
The motorcycle market in India is expected to be the most attractive market globally for emission control catalysts, as the demand for scooters and motorbikes in the country continues to grow, coupled with stringent regulations to reduce carbon emissions.
The global market for emission control catalysts for motorcycles is projected to exceed US$ 5,396.2 Million by 2031, driven by the above-mentioned factors.
Key Takeaways:
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Palladium-based catalyst demand is expected to surge at a 5.7% CAGR over the forecast period.
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The motorbikes segment is projected to hold approximately 74.9% of the total market share in 2021 by application type.
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The rhodium-based catalyst segment is anticipated to grow at a 6.2% CAGR through 2031.
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The emission control catalysts for motorcycles market in the U.S. is anticipated to exhibit 4.4% CAGR by the end of 2031.
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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.
To sum up, the global emission control catalysts for motorcycles market is expected to grow steadily in the coming years, driven by the rise in motorcycle sales and the need to adhere to stringent emission regulations. The market is poised to witness significant growth in India and China, with a rising demand for palladium-based catalysts and the motorbike segment projected to dominate the market.
India to Lead the Global Emission Control Catalyst for Motorcycle Market in 2021
As per Future Market Insights (FMI), India is projected to account for over one-third of the global emission control catalyst for the motorcycle market share in 2021. The growth in the automotive industry worldwide, coupled with a rising population, has led to an increase in demand and production of motorbikes and scooters across India, China, and other countries in South and East Asia.
Key manufacturers are aiming to capitalize on this growing demand by focusing on expanding their production capacities, especially across China and India. They are also investing in technological advancements for the mass production of emission control catalysts. For example, BASF SE successfully developed an innovative Tri-Metal catalyst that enables partial substitution of high-priced palladium with lower-priced platinum in vehicles, while Heraeus Precious Metals opened an advanced precious metals factory in China to enhance its capacity to refine and recycle precious metals, especially platinum which is used as an emission and process catalyst for the automotive industry.
The global emission control catalyst for motorcycle market is segmented by product type, application, and end-use (OEM, retrofit) across ten countries and regions, including North America, Latin America, Western Europe, Eastern Europe, China, Japan, South Korea, India, South East Asia, and the Middle East and Africa.
Key market participants in the global emission control catalyst 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.
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. The report highlights the various product types and applications in the market and provides insights into the competitive landscape of key players operating in the market.
In summary, the demand for emission control catalysts for motorcycles is expected to surge due to the growing automotive industry worldwide, with India projected to lead the market in 2021. Key manufacturers are focusing on expanding production capacities and investing in technological advancements to meet the rising demand for emission control catalysts.
Future Market Insights Provides Insights into Factors Driving Market Growth
Future Market Insights (FMI), an ESOMAR-certified market research organization and a member of the Greater New York Chamber of Commerce, offers in-depth insights into the factors elevating the demand for emission control catalysts for motorcycles. FMI discloses opportunities that will favor the market growth in various segments based on source, application, sales channel, and end-use over the next ten years. For sales and media enquiries, interested parties can contact FMI via email. FMI also provides a range of market reports, which can be accessed on their website or through their social media accounts.
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