Global Automotive Canister Market
Posted: May 04, 2021
Global Automotive Canister Market size was valued US$ 45 Bn. in 2019 and the total revenue is expected to grow about CAGR 5.5% from 2020 to 2027, reaching nearly US$ 69.06 Bn.
Global Automotive Canister Market
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Global Automotive Canister Market: Overview
Automotive Canister is used for controlling emission of vehicle. The canister absorbs harmful carbon emission and fuel vapor. The absorbed fuel by canister is circulated back to engine. Canister is controlled by power train system. The Automotive Canister system works when the vehicle starts, at that time vacuum is created inside automotive canister, and by this vacuum vapor particles are absorbed. Governments are implementing new stringent rules for emission control to comply the Paris Climate Accord formed by group of 195 countries. The Paris Climate Accord aims to reduce global temperature by 2OC.
Global Automotive Canister Market: Drivers
Increasing demand of automotive vehicle is fueling the market of Global Automotive Canister Market. Government rules related to pollution control are getting severe which is increasing the market of Automotive Canister.
Expanding vehicle production is surging the market of replacement and maintenance of vehicle increases canister market. Demand for higher efficiency vehicle and reducing size of component is increasing Global Automotive Canister Market.
Global Automotive Canister Market: Restraints
Increasing demand of electric vehicle may hamper the growth of Global Automotive Canister Market. Increasing public transport may reduce growth of passenger vehicle, which negatively impact growth of Global Automotive Canister Market.
Global Automotive Canister Market: Vehicle Type
By vehicle type segment, market is further segmented into two major group: passenger vehicle and commercial vehicle. The passenger vehicle has major market capture. Most of the passenger vehicle operates on gasoline fuel. About 92 million passenger cars were produced worldwide in 2019.
Global Automotive Canister Market: Sales Channel
Canister market is divided into two types OEM and Aftermarket. Canister requires time to time replacement. So, the OEM fitted canister is changed by the aftermarket canister. Generally, aftermarket canister price is high and periodic replacement need is driving the growth of aftermarket automotive canister.
Global Automotive Canister Market1
Global Automotive Canister Market: Regional Overview
Asia-Pacific has dominance over the Global Automotive Canister Market, owing to leadership in passenger vehicle segment and large number of manufacturers. Countries like India, China, and Japan have majority of population using vehicle and the government in these countries are trying to reduce pollution by implementing severe rules on vehicles. Some of the countries in the APAC region will ban use of Diesel vehicle in the future.
Europe and North America are implementing severe rules and rising standards of pollution control. So, these regions witness demand of Automotive Canister.
The report also helps in understanding Automotive Canister Market dynamics, structure by analyzing the market segments and projects the Automotive Canister Market size. Clear representation of competitive analysis of key players by Propulsion Type, price, financial position, Product portfolio, growth strategies, and regional presence in the Automotive Canister Market make the report investor’s guide.
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Automotive Canister Market, By End Use
- Passenger Vehicle
- Light Commercial Vehicle
- Heavy Commercial Vehicle
Automotive Canister Market, by Sales Channel
Automotive Canister Market, by Region
- Asia Pacific
- North America
- South America
- Middle East & Africa
Key players operating in Automotive Canister Market
- Continental AG
- Delphi Technologies
- JACOBI CARBONS GROUP
- A. KAYSER AUTOMOTIVE SYSTEMS GmbH
- HELLA GmbH & Co. KGaA
- Stant Corporation
- Perko Inc
- Robert Bosch GmbH
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