DUBAI, United Arab Emirates, Jan. 26, 2022 (GLOBE NEWSWIRE) — The world emission control catalyst for the motorcycle market should grow at a steady pace 5.8% CAGR over the forecast period between 2021 and 2031, finds Future Market Insights (IMF). The rapid expansion of the automotive industry across the world is one of the major factors contributing to the growth in the sales of emission catalysts for motorcycles.

Emission catalysts are used in all types of internal combustion engines. Strict emissions regulations aimed at reducing harmful greenhouse gases in the environment globally are driving the sales of catalytic converters.

Rising sales of scooters and motorcycles due to the growing preference for accessible and cost-effective automobiles in developing economies will increase the demand for emissions catalysts. Subsequently, the increase in motorcycle sales, coupled with the growing production of motorcycles in India and China, is fueling the sales of emission control catalysts in motorcycles.

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Additionally, the growing need to meet emission standards regulations has encouraged manufacturers to focus on developing new technologies to comply with requirements. Hence, the increasing adoption of palladium, which is used in catalytic converters to remove harmful gases such as carbon monoxide from the exhaust emission system, is driving the market.

According to the IMF, India is expected to be the most attractive emissions control catalyst for the motorcycle market across the globe. The growth is attributed to booming scooter and motorcycle sales in the country, coupled with strict standards to reduce carbon emissions.

Supported by the above factors, the Global Emission Control Catalyst for Motorcycles Market is expected to be leading US$5,396.2 million by 2031.

Key points to remember:

• By product type, demand for palladium-based catalysts is expected to grow at a 5.7% CAGR over the forecast period.
• By type of application, the Motorcycles segment is expected to contain approximately 74.9% of total market share in 2021.
• The rhodium-based catalysts segment is expected to grow at 6.2% CAGR to 2031.
• Emission control catalysts for the United States motorcycle market are expected to feature 4.4% CAGR by the end of 2031.
• China will become an attractive market for motorcycle exhaust catalysts, with sales growing at a steady pace. 5.5% CAGR over the forecast period.
• India is expected to account for more than a third of the global emissions control catalyst for motorcycle market share in 2021.

“During the forecast period, sales of emission control catalysts are expected to be driven by growth in the automotive industry across the world. In addition, population growth has led to high demand and production of motorcycles and scooters in India, China and other countries in South and East Asia, so major manufacturers are eyeing these regions to capitalize on the growing demand,” an IMF analyst said.

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Competitive landscape

Major players in the global Emission Control Emissions Market 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.

Major players operating in the global motorcycle emission control catalysts market are focusing on expanding their production capacities by setting up new manufacturing plants, especially in China and India.

They are also targeting technological advances for the mass production of emission control catalysts.

For example:

• In March 2020, BASF SE announced that it had successfully developed an innovative tri-metal catalyst that allows high-priced palladium to be partially replaced by low-priced platinum in vehicles.
• In September 2018, Heraeus Precious Metals opened an advanced precious metals plant in China. The new facility will enhance the company’s ability to refine and recycle precious metals, particularly platinum which is used as an emissions and process catalyst for the automotive industry.

Report scope

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More information about the Motorcycle Emission Control Catalyst market report

In its latest report, FMI offers an unbiased analysis of the global Emission Control Catalyst for Motorcycles Market providing historical data from the period 2016-2020 and forecast statistics from the period 2021-2031. In order to understand the global market potential, growth, and scope, the market is segmented on the basis of product type (palladium-based catalyst, rhodium-based catalyst, platinum-based catalyst, other), application (motorcycles , scooters) and end use (OEM, retrofit) in ten countries and regions (North America, Latin America, Western Europe, Eastern Europe, China, Japan, South Korea, India, Southeast Asia- East and Middle East and Africa).

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About Future Market Insights (IMF)

Future Market Insights (FMI) is a leading provider of market information and advisory services, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centers in the UK, USA and India. FMI’s latest market research reports and industry analysis help businesses meet challenges and make critical decisions with confidence and clarity amidst fierce competition. Our custom and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of analysts led by FMI experts continuously monitor emerging trends and events across a wide range of industries to ensure our clients are prepared for the changing needs of their consumers.

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