LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global two-wheeler catalytic converter market is projected to grow to 63.3 million units by 2021, at a CAGR of nearly 7% over the forecast period.
This research report titled ‘Global Two-wheeler Catalytic Converter Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
| A two-wheeler catalytic converter is a device placed within the exhaust pipe of a two-wheeler, which converts harmful exhaust gases to less toxic gases. The increasing stringency of emission norms for two-wheelers is expected to generate additional requirements for catalytic converters, thereby driving the market growth. |
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Based on the application, the report categorizes the global two-wheeler catalytic converter market into the following segments:
- Entry-level segment
- Mid-size segment
- Full-size segment
Entry-level segment
“The two-wheeler catalytic converters by entry-level vehicles constituted a massive 97% of the global market in 2016, and is expected to continue its dominance through the forecast period,” says Praveen Kumar, a lead analyst at Technavio for automotive components research.
Entry-level two-wheelers usually have an engine capacity below 400cc and are adopted by consumers for daily commute within the city limits. The two-wheeler markets in China and India are the major revenue contributors to the global two-wheeler catalytic converter market by the entry-level segment.
Mid-size segment
Mid-size segment motorcycles are suitable for riders who look for quality sports performance and long-distance touring capabilities in their vehicles. This class includes two-wheelers that have an engine capacity that ranges between 400cc and 700cc and provides high-power performance to long-stroke engine cruisers.
A majority of the developments in this segment are expected to originate from the two-wheeler markets in the Americas and Europe. This segment is expected to grow significantly over the forecast period, due to the increasing preference for road trip tourism and adventure tourism.
Full-size segment
“Full-size two-wheelers include high-performance cruisers and sports touring motorcycles. This type of two-wheelers witness high adoption rates in the American and European markets. The regulations introduced to ensure the safety and efficiency of these vehicles are resulting in its increased adoption,” says Praveen.
Also, the rise in the number of motorcycle shows and motorcycle touring communities have led to significant developments in this segment. The emergence of cruiser motorcycles, which deliver superior torque at low rpm and ensures the maximum aversion of ride fatigue and stability has increased consumer popularity. This has directly impacted the demand for catalytic converters from the market segment.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Continental Emitec
- Varroc Group
- Bekaert
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