The ‘Global Automotive Carbon Canister Market Size, Share, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global automotive carbon canister market, assessing the market on the basis of its segments like sales channels, vehicle types, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Automotive Carbon Canister Market Price, Share, Size, Growth, Trends, Industry Report, Key Player, Major Segments and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 4.10%
The increasing prevalence of chronic conditions such as lung cancer, asthma, heart attack, among other types of cardiovascular conditions is escalating the need for curbing the emission of volatile organic compounds. In addition, the increasing production of vehicles, induced by the increasing sale of passenger and commercial vehicles is fuelling the automotive carbon canister market growth.
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Moreover, the rising disposable income, rapid urbanisation, and increasing number of corporate workers across the emerging economies are expected to bolster the global automotive sector. The rising number of buses, cargo trucks, and vans, owing to the thriving transportation sector and the growing trade of consumer goods, is leading to a heightened application of automotive carbon canisters.
The rising awareness pertaining to the growing pollution across the globe is further invigorating the automotive carbon canister market growth. This factor is leading to a greater significance of automotive carbon canisters. Over the forecast period, the anticipated increase in demand for luxury and sports vehicles among business persons and young celebrities and influencers is expected to offer lucrative opportunities to the market. However, the emergence of hybrid electric vehicles is likely to pose as a challenge for the market for automotive carbon canisters.
Automotive Carbon Canister Industry Definition and Major Segments
An automotive carbon canister is a part of the emission control system of an automobile which contains activated carbon particles. The sole purpose of these activated carbons is to decrease the emission of volatile organic compounds (VOC) from the vehicle. These canisters store the emission greenhouse gases when the vehicle is on stand still.
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Based on sales channel, the market is bifurcated into:
By vehicle type, the market is segmented into:
• Passenger Cars
• Commercial Vehicles
On the basis of region, the market is categorised into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Automotive Carbon Canister Market Trends
The key trends in the global automotive carbon canister market include the growing research and development activities by the leading automotive manufacturers aimed towards innovating fuel efficient and cost-effective passenger and commercial vehicles. These innovations are likely to be achieved by heightening the incorporation of efficient automotive carbon canisters, purge pumps and vitrifies.
The thriving commercial transportation sector, owing to the rapid expansion of industries such as healthcare, pharmaceutical, food and beverage, e-commerce, and consumer electronics, among others, is another crucial trend in the automotive carbon canister market. Transportation is a sizeable contributor to the global increase in pollution which is a major reason striking awareness against air pollution. The stringent regulations of various governments across developing and developed nations, to curb the emission of greenhouse gases, such as hydrocarbons and chlorofluorocarbons, are expected to favour the market growth of automotive carbon canisters.
In regional terms, Asia Pacific accounts for a significant share in the market, owing to the growing pollution across countries such as India and China, which can be attributed to the large population base. Meanwhile, the strong foothold of the automotive sector in countries such as Japan and South Korea, is further expanding the opportunities for the market for automotive carbon canisters.
Key Market Players
The major players in the global automotive carbon canister market report are:
- ROKI Co., Ltd.
- Kayser Automotive Systems
- Futaba Industrial Co., Ltd.
- Robert Bosch LLC
- HELLA GmbH & Co. KGaA
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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