Automotive Active Purge Pump Market - Analysis, Outlook, Growth, Trends, Forecasts
DUBAI, United Arab Emirates, Jan. 18, 2022 (GLOBE NEWSWIRE) -- The automotive active purge pump market is slated to witness impressive growth at 11.2% CAGR between 2021 and 2031.
According to Future Market Insights (FMI), the global automotive active purge pump market is projected to expand at a CAGR of 11.2% between 2021 and 2031. As the focus on reducing vehicular emissions gains traction, sales of active purge pumps for automobiles will grow.
Automotive Active Purge Pump Market Value 2020
US$ 60.1 Mn
Automotive Active Purge Pump Market Value 2021
US$ 66.3 Mn
Automotive Active Purge Pump Market Value 2031
US$ 192.0 Mn
Rising cognizance of emission control and scramble for fuel efficiency among motorists is likely to propel growth of the automotive active purge pump market.
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Poor air quality caused by fossil fuel continues to be a major source of concern in metropolitan areas, necessitating the installation of an automobile active purge pumps for effective emission control in vehicles.
According to organizations such as the World Health Organization, urban air pollution is still a serious problem that can be addressed with proper emission management. As a result, demand for effective automobile emission control technologies, such as automotive active purge pumps is at all-time high.
Key Takeaways from Market Study
By material type, the non-metal segment is expected to account for a share of more than 70% in the global market. The high demand for non-metal automotive active purge pumps can be ascribed to their cost-effectiveness and easy availability.
By manufacturing process, others segment is expected to be the leader with a share of more than 40%.
By sales channel, the OEM segment will dominate the market, accounting for nearly 65% of sales.
By vehicle type, passenger car segment projected to dominate the market, accounting for more than 77% of the total demand.
By region, Europe is expected to have the largest share in the global market, accounting to more than 49% of sales.
“Government intervention for effective emission control and increasing number of programs intended to reduce vehicle emissions are projected to push growth in the automotive active purge pump market. With the increasing popularity of hybrid cars, makers of automotive active purge pumps will have impressive opportunities for sales in the future,” says a Future Market Insights analyst.
Automotive Active Purge Pump Market Competitive Landscape
Key players operating in the market are Denso Corporation, Continental AG, Vitesco Technologies, Hyundai Kefico, Agilent Corporation, Robert Bosch GmbH, Rheinmetall Automotive, and others.
A number of companies are prioritizing product approvals, product launches, and other organic growth techniques including organizing events & focusing on achieving patents. Acquisitions along with collaborations and partnerships, were also seen as popular growth strategies.
These efforts have paved the way for market participants to grow their operations and client base. Market players in the automotive active purge pump market are projected to benefit from favorable growth opportunities in the future, thanks to rising demand for fuel-efficient vehicles.
Automotive Active Purge Pump Market Projection
The development of improved automotive active purge pump has been prompted by the increased focus on the carbon emission from vehicle and smooth refueling event in recent years. The current trend is projected to continue in the foreseeable future, generating demand for more modern automotive active purge pump for vehicles in the coming years.
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The vast increase in demand for passenger cars and commercial vehicle in regions such as Asia Pacific and Europe, owing primarily to thriving transportation sectors and increased traffic in emerging economies in Europe, is expected to bode well for the global automotive active purge pump market in the near future.
Scope of Report
Historical Data Available for
USD Million for Value and Units for Volume
Key Regions Covered
North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa
Key Countries Covered
US, Canada, Brazil, Mexico, Germany, Italy, France, U.K., Spain, BENELUX, Russia, China, Japan, South Korea, India, ASEAN, GCC, Turkey, and South Africa
Key Segments Covered
Material Type, Manufacturing Process, Sales Channel, Vehicle Type, and Region
Key Companies Profiled
Market Forecast, brand share analysis, competition intelligence, DROT analysis, Market Dynamics and Challenges, Strategic Growth Initiatives
Customization & Pricing
About the Automotive Division of FMI
The automotive division of FMI offers a novel approach and innovative perspective in the analysis of the industrial automation market. Comprehensive coverage of capital, portable, process, construction, industrial, and special purpose machinery across the manufacturing sector and distinctive analysis about the installed base, consumables, replacement, USP-feature-application matrix make us a pioneering voice in the industry. We are preferred associates with established as well as budding industry stakeholders, and channel partners when it comes to sustaining, growing, and identifying new revenue prospects.
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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