The global automotive carbon canister market is set to gain impetus from its surging usage for storing and capturing vapor emission from the fuel tank. This information is published by Fortune Business Insights™ in an upcoming report, titled, “Automotive Carbon Canister Market Size, Share & Industry Analysis, By Vehicle Type (Passenger Cars, Commercial Vehicles), By Market Type (OEM, Aftermarket) and Regional Forecast 2020-2027.” The report further mentions that automotive carbon canisters can purify the fuel for use and absorb the fuel vapor emission from the fuel tank.
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A list of all the automotive carbon canister manufacturers present in the global market:
- Kayser Automotive Systems
- Langfang Huaan Automobile Equipment
- Delphi Automotive PLC
- Asian Industry
- Hengbo Holdings
- Korea Fuel-Tech
- Tianjin Gelin Lifu New Technology
- Other key market players
How Did We Conduct Our Research?
The report involved four notable activities in projecting the current market size. Exhaustive secondary research was conducted to gather data about the parent and peer markets. Our next step included primary research to authenticate these sizing, assumptions, and findings with numerous industry experts. We have also used bottom-up and top-down approaches to calculate the market size.
Drivers & Restraints-
Increasing Emission of Carbon Dioxide from Vehicles to Augment Growth
Rapid industrialization and urbanization is set to surge people’s disposable income across the globe. It would increase the number of vehicles, thereby propelling the automotive carbon canister market growth in the upcoming years. The high emission of carbon dioxide from vehicles, coupled with the increasing air pollution is set to accelerate the demand for automotive carbon canisters. These canisters can easily help to reduce air pollution by lowering fuel emission.
Apart from that, governments of several countries worldwide are implementing strict norms to reduce vehicular emissions. At the same time, multiple environment control organizations and transportation ministries are setting up limits for vehicular emissions. However, the rising usage of electric vehicles may obstruct growth.
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Higher Production & Sales of Passenger Cars to Favor Growth in Asia Pacific
Asia Pacific is anticipated to hold the highest automotive carbon canister market share throughout the forthcoming years. This growth is attributable to the presence of several OEMs in China and India. Besides, increasing population and industrialization in the region is expected to boost the production and sales of passenger cars. In Europe, the market would grow significantly because of the implementation of strict rules for lowering emissions in the atmosphere.
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Key Players Focus on Collaboration & New Product Launches to Intensify Competition
The global market for automotive carbon canisters houses several prominent firms that are currently aiming to gain a competitive edge by adopting the partnership and collaboration strategy. Some of the others are focusing on joint ventures, new product launches, and agreements to cater to the high customer demand.
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