Automotive Carbon Canister Market Size, Share & Industry Analysis, By Vehicle Type(Passenger Cars, Commercial Vehicles), By Market Type (OEM, Aftermarket) and Regional Forecast, 2024-2032
KEY MARKET INSIGHTS
The carbon canister is an automotive component of the evaporative emission control system (EVAP) that is attached to the fuel tank. This device is used to capture and store the fuel vapor emission from the fuel tank when the vehicle is at a halt. When the engine starts running, the stored fuel hydrocarbons are used for combustion after the filtration process in the canister. The carbon in the canister absorbs the contaminated particles from the fuel and purifies the fuel for use.
Globally, owing to urbanization, industrialization, and a rise in the disposable income of people, there has been substantial growth in the number of vehicles across the globe. This factor is leading to an increase in air pollution and high emission of carbon dioxide from vehicles. The carbon canister brings down the rate of fuel emission, thus helps in curbing air pollution. Furthermore, the governments of various regions are imposing stringent norms and regulations to curb vehicular emissions. Moreover, transportation ministries and various environment control organizations have set a limit for vehicular emissions. All these factors are driving the growth of the automotive carbon canister market.
Key Market Driver -
Rising air pollution and high fuel prices are expected to drive the growth of the market
Key Market Restraint -
Growing adoption of electric vehicles is expected to restrain the growth of automotive carbon canister market.
Key Players Covered in the Automotive Carbon Canister Market:
Some of the prominent companies that are present in the automotive carbon canister market include Roki, Kayser Automotive Systems, Futaba, Langfang Huaan Automobile Equipment, Delphi Automotive PLC, Asian Industry, Stant, Hengbo Holdings, Korea Fuel-Tech and Tianjin Gelin Lifu New Technology among the other players.
Market Segmentation:
The global automotive carbon canister market has been segmented into vehicle type, market type, and region. By vehicle type, the market is further segmented into passenger cars and commercial vehicles. The passenger car market holds the largest market share of the global automotive carbon canister market owing to the rise in the disposable income of people, growing urbanization, improved standard of living of people, and increased inclination of people to own private cars are eventually creating a positive impact on the sales and production of passenger cars. By market type, the market is further segmented into OEMs and aftermarket. The OEM market holds the largest market share of the global carbon canister market. The government has imposed stringent norms to curb the fuel emissions and made it mandatory for all the automotive OEMs to install carbon canister devices in their vehicles. The aftermarket is also showing a significant growth in the carbon canister market owing to the rising emission concerns, and stringent government regulations. Moreover, the increasing awareness of air pollution among the consumers is fuelling the growth of this market.
Regional Analysis:
Geographically, the automotive canister market is segmented into North America, Europe, Asia Pacific, and the rest of the world. The Asia Pacific is expected to hold the largest market share in the carbon canister market. The presence of key OEMs majorly in India and China is a major factor that is maintaining the dominance of Asia Pacific in this market. The rise in industrialization, high population rates are leading to an increase in sales and production of passenger cars in this region. Thus, propelling the growth of the carbon canister market. Europe is expected to hold the second-largest position in the market. Stringent emission norms in this region are the major factor that is expected to maintain the second-largest position.
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Segmentation
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- Ongoing
- 2023
- 2019-2022
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