According to Precedence Research, the global automotive active purge pump market was valued at USD 0.13 Billion in 2019 and expected to reach USD 7.07 Billion by 2027, with at a compound annual growth rate (CAGR) of 65% during the forecast period from 2021 to 2027.
Governments of different countries across the globe are constantly imposing strict regulation and norms on the automotive & transportation industry in order to reduce the rate of carbon emission that is primarily caused due to diesel or gasoline vehicles. The aforementioned factor is likely to propel the automotive active purge pump market over the analysis period. Gasoline fuel (petrol) is extremely combustible as well as evaporates quickly. The gases released after the exhaustion of gasoline contains benzene and when inhaled causes serious health hazards. Furthermore, mega cities witnesses high concern regarding photochemical smog that are mainly caused because of a combination of sunlight and exhaust fumes. Hence, modern vehicles running on petrol are equipped with an on-board system that minimizes the hydrocarbon (HC) emission in the environment.
Moreover, rising public preference along with government emphasis towards the adoption of electric vehicles in recent years owing to emission concerns is the other prominent factor expected to impel the market growth for automotive active purge pump during the upcoming years.
Despite of numerous advantages, the automotive active purge pump has few drawbacks. Introduction to the electric vehicles as well as battery-powered vehicles with their increasing sales over the coming years expected to restrict the growth of the active purge pump market. Electric vehicles or battery-powered vehicles are a zero emission vehicle that does not require an active purge pump. The above mentioned factor is likely to hinder the demand for automotive active purge pump during the forthcoming years.
DC motor anticipated to project lucrative growth over the coming years as it is a vital component responsible for the actions of automotive active purge pump. A brushless DC motor is an important component required to supply power to the automotive active purge pumps. Furthermore, high cost of brushless DC motor is the prime factor responsible for the significant market share of the segment in the global market. Thus, the market for DC motor estimated to witness notable expansion over the forthcoming years.
Besides this, sensors are the other most important component predicted to grow prominently over the forecast period. This is majorly due to the declining cost of sensors along with their rising implementation in various functions of automobile. On an average the number of sensors applied in a vehicle may exceed 200 depending on the level of automation. Hence, presently sensors are counted as a vital component for any vehicle. Similarly, in regards to automotive active purge pumps, sensors are prominently used to monitor the flow of fuel vapors generated from an evaporative emission canister. Henceforth, the aforementioned factors are likely augment the market size of sensors in the automotive active purge pumps over the upcoming years.
Vehicle Type Insights
Based on vehicle type, passenger vehicle accounted for the largest market share in the global automotive active purge pump market owing to its high share of sales compared to commercial vehicle i.e. around 75% out of total vehicle sales. In addition, the segment analyzed to continue its dominance during the forecast timeframe. Rising demand for personal transportation coupled with the rising population across the globe are the key factors attributed for the significant growth of the segment.
However, revolution in the industrial sector as well as shifting consumer preference towards online purchasing & retail shops is likely augment the growth of logistics & transportation, thereby propels the growth of automotive active purge pump in commercial vehicle over the analysis period.
Europe led the global market and projected to retain its position over the forthcoming years. This is mainly because of the rising awareness regarding stringent emission standards that has triggered the adoption of automotive active purge pumps in the region. Further, the region is a home for major automotive manufacturers that estimated to be a key factor for market growth for automotive active purge pumps in the region. Apart from this, the Asia Pacific seems to be the most opportunistic region in the global market because of increasing adoption for emission control features in a vehicle in order to curb the rate of CO2 emission from transportation industry.
Key Companies & Market Share Insights
There are limited players operating holding the leading position in global automotive active purge pump market that turns the market into highly consolidated. Agilent Technologies and Continental AG are the prominent players operating in the market. Research & Development (R&D) is the key strategy adopted by the major market players to retain their competitiveness in the global market.
Some of the prominent players in the automotive active purge pump market include:
Report Scope of the Automotive Active Purge Pump Market
|Market Size||USD 7.07 Billion by 2027|
|Growth Rate||CAGR of 65% from 2021 to 2027|
|Largest Market||North America|
|Fastest Growing Market||Asia Pacific|
|Forecast Period||2021 to 2027|
|Segments Covered||Components, Material, Manufacturing Process, Vehicle Type, Sales Channel, Region|
|Companies Mentioned||Agilent Technologies, Continental AG, Denso Corporation, Robert Bosch GmbH, Akebono Brake Company, Hitachi Chemical Co. Ltd., Allied-Nippon Limited, and Nisshinbo Holdings Inc.|
Segments Covered in the Report
This research study comprises complete assessment of the market by means of far-reaching qualitative and quantitative perceptions, and predictions regarding the market. This report delivers classification of marketplace into impending and niche sectors. Further, this research study calculates market size and its development drift at global, regional, and country from 2016 to 2027. This report contains market breakdown and its revenue estimation by classifying it on the basis of component, material type, manufacturing process, vehicle type, sales channel, and region:
By Manufacturing Process
By Vehicle Type
By Sales Channel
By Regional Outlook
No cookie-cutter, only authentic analysis – take the 1st step to become an Precedence Research client