Automotive Evaporative Emission Control System Market Will Generate Revenue of USD 65 Billion by 2025
Latin America will hold a considerable revenue share in the Automotive Evaporative Emission Control System Market on account of increasing concern to reduce fuel evaporation along with implementation of stringent international policies to curb air pollution. Further, countries such as Mexico is emerging as key destination for automotive investments. Companies such as Nissan, Delphi, General Motors, Continental, and Volkswagen are establishing their R&D center and engineering plants in Mexico thereby escalating the regional growth.
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Rising vehicular pollution from automotive evaporation along with increasing solar radiation is driving the automotive evaporative emission control system market. High diurnal emission from gasoline evaporation owing to temperature fluctuation during the day and night is escalating the product demand. Vehicle manufacturers are producing vehicles complying evaporation test methods and performance standards. Increasing product implementation in petrol vehicles will propel the Automotive Evaporative Emission Control System Market over the study timeframe.
International organizations including Environment Protection Agency (EPA) are taking initiatives including mandating the fuel evaporation regulations for petrol run vehicles. 40 CFR part 1066 mandated by EPA provides essential testing procedures for vehicles to measure evaporative, refueling and, exhaust emissions. Emergence of testing and fuel evaporation regulation limiting the hydrocarbon release will boost the automotive evaporative emission control system market growth.
Industry participants are investing heavily in R&D activities to develop technologies controlling the fuel evaporation. Emission control technologies are promoting carbon neutral cities, enhancing air quality, and reducing harmful discharge from vehicle exhaust gases, thereby offering rapid growth prospects for the automotive evaporative emission control system market.
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The automotive evaporative emission control system market from PCV will exhibit significant growth over the project timeframe owing to increasing passenger vehicle demand with improving economic conditions. Moreover, development of road infrastructure and benefits including enhanced safety, fuel efficiency, and improved comfort level will enhance segment penetration. Moreover, vehicle manufacturers are developing advanced technology such as fuel direct injection to reduce vehicular pollution.
Sensors accounted for a considerable volume share in the automotive evaporative emission control system market share on account of its higher usage in monitoring fuel and pressure level in tank. The component assists reducing petrol evaporation by monitoring engine temperature, intake air temperature, and exhaust oxygen content thereby enhancing the industry expansion.
Major players in the Automotive Evaporative Emission Control System Market includes Delphi Technologies, Eagle Industry Co., Ltd., Didac International, TI Automotive, Plastic Fuel Systems, Padmini VNA Mechatronics Pvt Ltd, Robert Bosch, Standard Motor Products, Inc, Sentec Group, Stant Corporation, and The Plastic Omnium Group. Joint ventures and collaboration are among the major strategies adopted by industry players to strengthen their regional presence.
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