Automotive Carbon Canister Market: Current Analysis and Forecast (2021-2027)
Emphasis on Vehicle Type (Passenger Vehicle and Commercial Vehicle); sales channel (OEM and Aftermarket); and Region/Country
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.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
- 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.
Customization Options:
The global automotive carbon canister market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Automotive Carbon Canister Market Analysis (2021-2027)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global automotive carbon canister market were the three major steps undertaken to create and analyze the adoption of automotive carbon canister markets in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global automotive carbon canister market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the automotive carbon canister market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the automotive carbon canister market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as vehicle type and sales channel. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the automotive carbon canister market. Further, we conducted factor analysis using dependent and independent variables such as various vehicle type and sales channels of automotive carbon canister markets. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the automotive carbon canister market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global automotive carbon canister market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the automotive carbon canister market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global automotive carbon canister market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global automotive carbon canister market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of vehicle type and sales channel in the global automotive carbon canister market.
The main objective of the Global Automotive carbon canister market Study
The current & future market trends of the global automotive carbon canister market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the automotive carbon canister market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of vehicle type and sales channel.
- Define and analysis of the regulatory framework for the automotive carbon canister market
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the automotive carbon canister market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the automotive carbon canister market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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