PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1300823
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1300823
Global Automotive Carbon Canister Market is valued approximately USD 1252.40 million in 2022 and is anticipated to grow with a healthy growth rate of more than 4% over the forecast period 2023-2030. An automotive carbon canister, also known as an evaporative emissions canister, is an integral part of a vehicle's emissions control system. Its primary function is to capture and store fuel vapors that would otherwise be released into the atmosphere. The Automotive Carbon Canister market is expanding because of factors such as increasing air pollution and rising usage of electric vehicles. The carbon canister is typically located in the engine bay or near the fuel tank. It is a sealed container filled with activated charcoal or other adsorbent materials. The activated charcoal has a large surface area with numerous microscopic pores that can trap and retain fuel vapors. Its importance has progressively increased during the last few decades.
According to the World Health Organization, reveal that 7 million people lose their lives every year as a result of air pollution. It is estimated that 9 in 10 people breathe air containing high levels of pollutants. Furthermore, around 89% of those premature deaths occurred in low- and middle-income countries, and the greatest number in the WHO South-East Asia and Western Pacific Regions. Another important factor drives the market is rising usage of electric vehicles. According to Statista, Tesla was ranked as the best-selling electric vehicle manufacturer worldwide after selling close to 936,200 units in 2021. In addition, some 1.3 million battery electric vehicles were sold in Europe in 2021, according to data provided by EV-Volumes. This an increase of 65 percent compared to battery electric vehicle sales in the region in 2020. Also, rising technological advancement in carbon canister and stringent government regulations about emissions would create a lucrative growth prospectus for the market over the forecast period. However, the high cost of Automotive Carbon Canister stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Automotive Carbon Canister Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia-Pacific dominated the market in 2022 owing to the presence of countries like South Korea, Japan, China, and India, which are regarded as the main junction of the automobile, electrical, and defense industry. According to the Statista, The Asia-Pacific region accounted for approximately 33 percent of global transportation-related carbon dioxide emissions in 2021. North American is expected to grow significantly during the forecast period, owing to factors such as increasing investment in various power generation, aerospace, and automobile projects in the market space.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of tables and figures and dummy in nature, final lists may vary in the final deliverable