The Automotive Evaporative Emission Control System Market is expected to reach US$ 63.08 Billion in 2028, growing at a CAGR of 5.27% during 2022-2028, reports Stratview Research.
Raipur, Dec. 09, 2022 (GLOBE NEWSWIRE) -- Stratview Research, a leading market research firm has launched a report on the Automotive Evaporative Emission Control System Market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.
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How is the Report Helpful?
The report has a very high utility for the key decision-makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.
Most importantly, the report analyses the possible impact of COVID-19 on the market dynamics which offers cushioning against the uncertain business environment and helps in streamlining the resources and investment decisions in a fruitful manner.
What are the Top Market Drivers?
According to the report, the Automotive Evaporative Emission Control System Market is driven by a host of factors, some of which are noted below:
Growing demand for environmental-friendly vehicles.
Favorable government regulations and policies.
Underpinning the automotive manufacturing industry.
Growing R&D activities for using magnesium in automotive.
The report also includes growth rate estimates based on the intensity of drivers and constraints and provides the users with several graphical illustrations of the key insights.
Automotive Evaporative Emission Control System Market Segmentation:
Stratview Research has segmented the market in the following ways which fulfill the market data needs of multiple stakeholders across the industry value chain.
By Vehicle Type (PCV, LCV, HCV, and Two-wheelers),
By Components Type (Fuel Tank, Gas Cap, Liquid Vapor Separator, Canister, Control Valve, Sensors, and Hoses),
By Distribution Channel Type (OEM, Aftermarket),
By Region (North America, Europe, Asia-Pacific, and Rest of the World).
Automotive Evaporative Emission Control System Market Insights
Market Trends by Vehicle Type
The market is segmented as PCV, LCV, HCV, and two-wheelers. HCV is anticipated to witness significant growth rate in the market owing to the growing demand from logistic and construction industry during the forecast period. Factors such as high evaporative and tail pipe pollution from HCVs, making the vehicle manufacturers incorporate EVAP systems and increasing freight transportation demand along with the growing trade activities are further expected to drive the segment’s growth during the forecast period.
Market Trends by Components Type
The market is segmented as fuel tank, gas cap, liquid vapor separator, canister, control valve, sensors, and hoses. Canister is projected to hold a major share of the market during the forecast period. It traps the vapors generated by petrol evaporation contained in the fuel tank until it gets soaked by the activated carbon, fueling the growth of the segment over the forecast period. Further, liquid vapor separator is estimated to register significant growth owing to its fitment for preventing petrol from entering the EVAP canister.
Which region offers the best opportunity and growth?
Asia-Pacific is anticipated to be the leading region in the market on account of growing vehicles production in order to meet consumers’ demand during the forecast period. Further, increasing government initiatives to minimize vehicular pollution and for clean transportation are expected to provide growth opportunities over the forecast period. On the other hand, Europe is also estimated to witness significant growth rate in the market, attributed to the presence of key industry players during the forecast period.
COVID-19 Impact on the Automotive Evaporative Emission Control System Market
COVID-19 has put an instant halt to many industries across the globe. Lockdown norms in several countries have swiftly affected the global economy by affecting the supply chain, production, and demand in the market. Both direct, as well as indirect impacts of the pandemic, have been incorporated in this report.
To know more about the covid-19 impact, get a free sample report, here:
Who are the Top Market Players?
After a thorough analysis of the market, the experts have listed a few key players and discussed the company profiles of the below-given players -
Eagle Industry Co., Ltd.
Okay Motor Products Hangzhou Inc.
Padmini VNA Mechatronics Pvt. Ltd.
Plastic Fuel Systems
Standard Motor Products, Inc.
What deliverables will you get in this report?
In-depth analysis of the Automotive Evaporative Emission Control System Market.
Detailed market segmentation.
Competitive landscape analysis.
Historical, present, and future market size analysis.
Industry trends, technologies, and advancements.
Growth and operation strategies adopted by key players.
Potential segments/regions offering promising growth.
Geographical presence of the key players.
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