Catalytic Converter Market Size

Catalytic Converter Market size was over USD 107.39 billion in 2024 and is anticipated to exceed USD 231.13 billion by the end of 2037, growing at over 6.2% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of catalytic converter is evaluated at USD 112.63 billion.

The growth of the market can be attributed to the increasing awareness related to the rising traffic pollution caused by the harmful emission of toxic gases from vehicles. The main form of pollution caused by vehicles is air pollution, which triggers several severe health issues such as asthma, cancer, heart & lung diseases, and others. For instance, air pollution caused by traffic accounts for approximately 100,000 deaths every year solely in the USA.

The growing production of vehicles along with the rising automotive industry and harmful emissions of hydrocarbons, carbon monoxide, and nitrogen oxides that damages the atmosphere if released into the air are estimated to hike the market growth over the forecast period. For instance, it is forecasted that the automotive industry worldwide will generate USD 3.5 trillion from auto sales by 2030. An automotive catalytic converter considerably reduces the number of harmful pollutants by taking these gases and converting them into water vapor and less harmful gases via a series of chemical reactions. With the rising pollution caused by the transport sector as well as greenhouse gas emissions, the demand for the catalytic converter is on the rise amongst petrol car users, which in turn, is expected to create massive revenue generation opportunities for the key players operating in the global Catalytic Converter Market during the forecast period. For instance, it was found that in 2020, the transportation sector held the largest share of greenhouse gas (GHG) emissions, with almost 25% of greenhouse gas emissions around the world.