LONDON–(BUSINESS WIRE)–COVID-19 market impact analysis anticipates Negative and Inferior growth for the automotive catalytic converter market during 2020-2024, according to Technavio report Global automotive catalytic converter market with COVID-19 analysis.
The reduction in emissions by catalytic converters is driving automatic catalytic converter market growth. Developments in exhaust systems such as catalytic converters, manifolds, mufflers, pipes, and monolith designs are some of the advancements in the automotive industry. These designs reduce noise generated by exhaust gases by using sound absorbers with catalytic converters. This, in turn, significantly reduces vehicular emission positively impacting the environment, thus reducing global warming. Automatic catalytic converters reduce the harmful pollutants produced by the combustion process of ICE-powered vehicles. Catalytic converters used in automobiles can reduce hydrocarbon emissions by approximately 90%, carbon monoxide emissions by approximately 85%, and nitrous oxides by approximately 62%. Advantages such as the reduction in emissions by catalytic converters will