Automotive Carbon Canister Market: Current Analysis and Forecast (2021-2027)

The global automotive carbon canister market is expected to grow at a significant rate of around 5% during the forecast period. An automotive carbon canister is a device that stores and captures the vehicle fuel vapors under the influence of heat and releases purified air, thereby protecting the atmosphere and surroundings against unburnt fuel vapors. The automotive carbon canister industry is expected to rise due to rapid technological advancements in automobiles occurring around the world, as well as an increase in consumer disposable income in developing economies. Furthermore, a rise in awareness regarding the environmental advantages and positive government regulations, and the availability of market key players are the factors leading to an increase in the demand for automotive carbon canisters across the globe. For instance, in December 2019, BorgWarner Inc. announced the portfolio expansion of its original-aftermarket products. In January 2020, the company became the exclusive aftermarket distributor of Beru glow plugs, glow plug controllers, and ignition coils.

Robert Bosch GmbH, Continental AG, HELLA GmbH & Co. KGaA, Ingevity, ACDelco, Ford Motor Company, Nissan Motor Co. Ltd., ROKI Holding Co. Ltd., Toyota Motor Corporation, and Mopar. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report:

"Amongst vehicle type, passenger vehicle category to witness significant growth during the forecast period"

Based on battery type, the market is segmented into passenger vehicle and commercial vehicle. Among these, the passenger vehicle category grabbed a significant amount of market share and is expected to grow at a robust growth rate during the forecast period. The demand for passenger automobiles is influenced by volatile fuel prices and transit infrastructure and the improving economic outlook in the United States and many developing nations, such as China and India, is likely to boost global demand for passenger automobiles. Moreover, the increasing popularity of electric cars and the high cost of raw materials is expected to hamper the growth of the market.

"Amongst sales channel, the OEM category to witness significant growth during the forecast period"

On the basis of voltage, the market is categorized into OEM and aftermarket. Among these, the OEM category holds a significant share in the market during the forecast period. This is mainly due to Due to rising demand for manufacturing lightweight, fuel-efficient, and compact vehicles owing to stringent transportation emission norms. are concentrating on launching new features & services with enhanced features in order to increase sales and strengthen their position in the market. For instance, in 2017, Continental AG introduced its new Active Purge Pump (APP) as a new and innovative electrified solution to encounter stringent hydrocarbon evaporation legislation around the world.

"APAC to hold the fastest growth rate in the market"

In 2020, Asia Pacific had the greatest revenue, and it is expected to maintain its dominance while increasing at the quickest CAGR during the projection period. The presence of several important vehicle manufacturers and ancillaries in the region is driving market expansion. Furthermore, rising vehicle sales, particularly in countries such as China, India, Japan, and South Korea, are expected to boost regional market growth throughout the projection period. Many OEMs are eager to establish manufacturing operations in this region, particularly in growing economies like China and India. During the projection period, North America is expected to be the second-largest market. Moreover, the rising penetration of parts manufacturers, and low cost of production, will further boost the automotive carbon canister market growth rate during the forecast period. The sector is predicted to increase because of the rising demand for the automotive carbon canister market across the region.

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Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.

The study comprehensively covers the market across different segments.

Deep dive regional level analysis of the industry.

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