April 03, 2020
As per the report titled ‘Automotive Evaporative Emission Control (EVAP) System Market Size By Vehicle, By Components, By Distribution Channel Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Report LLC, the global automotive evaporative emission control (EVAP) system market is projected to exhibit a strong CAGR during 2019-2025.
Increasing vehicular pollution coupled with rising solar radiation is fueling the growth of automotive evaporative emission control (EVAP) market. High emission from gasoline evaporation on account of temperature fluctuations throughout the day is fueling the demand for automotive evaporative control (EVAP) systems. Integration of these systems in petrol vehicles will augment the market growth in the coming years.
Stringent regulation and mandates by international regulatory authorities including Environment Protection Agency (EPA) regarding reduction of VOCs and hydrocarbon emission will boost the market growth. Advancement in emission control technology will present new growth opportunities in the forthcoming years.
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Elaborating on the vehicle type, PCV market segment is anticipated to grow considerably over the forecast timeline, owing to increasing demand for passenger vehicle due to improving economic conditions. Features such as enhanced safety, improved fuel economy and comfort, along with developing road infrastructure will bolster the sales of PCV, hence augmenting the demand for EVAP systems.
Based on the component, sensors segment accounts for a sizeable share by volume of automotive evaporative emission control (EVAP) system market due to its extensive use in monitoring fuel and pressure levels in vehicle tank. Sensors are capable of monitoring various parameters such as intake air temperature, engine temperature, and exhaust oxygen.
Speaking of the distribution channel, OEM segment is expected to account for a significant share of automotive evaporative emission control (EVAP) system market through 2025, owing to rising adoption of equipment to meet the strict emission standards. Innovations such as brushless pumps will further boost the segment growth in coming future.
Considering the geographical landscape, automotive evaporative emission control (EVAP) system market in North America is anticipated to exhibit a strong CAGR over the analysis period. The regional growth can be credited to dense presence of major vehicle manufacturers such as Ford, FCA US, and General Motors in the region. Stringent environmental policies, and rising shift towards sustainable transportation are among the other factors supporting the regional business outlook.
Major players of automotive evaporative emission control (EVAP) system market are Delphi Technologies, Didac International, TI Automotive, Eagle Industry Co., Ltd., Robert Bosch, The Plastic Omnium Group, and Standard Motor Products, Inc. amongst others.
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