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The automotive purge valve market share is expected to increase by USD 757.49 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 4.5%.
This automotive purge valve market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers automotive purge valve market segmentation by application (passenger vehicles and commercial vehicles) and geography (APAC, Europe, North America, South America, and the Middle East and Africa). The automotive purge valve market report also offers information on several market vendors, including A. Kayser Automotive Systems GmbH, Agilent Technologies Inc., Continental AG, Delphi Technologies Plc, DENSO Corp., Dorman Products Inc., Eagle Industry Co. Ltd., Eaton Corp. Plc, ETO GRUPPE TECHNOLOGIES GmbH, Hamanakodenso Co., Ltd., Padmini VNA Mechatronics Pvt. Ltd., PARKER HANNIFIN CORP., Rheinmetall AG, Robert Bosch GmbH, ROKI Co, Ltd., SENTEC GROUP, Standard Motor Products Inc., Swagelok Co., TLX Technologies, and Tube Clamps India among others.
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The environmental benefits of evaporative emission control systems is notably driving the automotive purge valve market growth, although factors such as reliability issues with purge valves may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive purge valve industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Automotive Purge Valve Market Driver
The environmental benefits of evaporative emission control systems is one of the major drivers impacting the automotive purge valve market growth. Gasoline is highly combustible and can evaporate easily. This makes it harmful to humans and other living beings. It contains benzene, which causes health hazards when combined with sunlight and exhaust gases. This combination results in hazardous photochemical smog, which has become a common phenomenon in metropolitan cities. A purge valve is used in gasoline vehicles to reduce such harmful effects of gasoline fumes on the environment. It forms an important component of evaporative emission control systems, wherein a canister filled with activated carbon is used to collect the fumes from the tank and prevent them from exiting the exhaust pipe. In most developed markets, purge valves are used as a part of the evaporative emission control system. Thus. Such benefits associated with evaporative emission control systems will drive the demand for purge valves which in turn will boost the growth of the global automotive purge valve market during the forecast period.
Key Automotive Purge Valve Market Trend
Evolving aftermarket e-commerce is one of the major trends influencing the automotive purge valve market growth. The potential of online sales channels in reaching the aftermarket customer segment is specifically giving a boost (in terms of sales) to auto component and accessory manufacturers, which are unveiling innovative offerings. Schaeffler India Ltd, an auto component manufacturer, launched an aftermarket application for its customers under the name Parts4U. This application was specifically developed for mechanics and retailers to ensure access to information containing various part numbers as well as repairing, training, and solutions. At present, most workshops across the world largely rely on traditional sales channels to buy or enquire about various parts and accessories, but the advent of such interactive application-based solutions is anticipated to enhance e-commerce-based activities. Thus, the growing popularity of e-commerce-based aftermarkets will spur the growth of the global automotive purge valve market during the forecast period.
Key Automotive Purge Valve Market Challenge
Reliability issues with purge valves are one of the major challenges impeding the automotive purge valve market growth. Automotive purge valves face an issue wherein they remain either open or closed. It is one of the most common issues associated with evaporative emission control systems. In such cases, vehicle users have minimum control over the working of the device. Such issues will lead to vehicle recalls. Purge valve problems are common in many cars. The most common problem with the purge valve is when it sticks or does not close fully. This may cause the Check Engine light to come on. In some cars, a stuck-open purge valve can cause difficulty in starting right after refueling at a gas station. If the purge valve is not opening properly, it may adversely impact the gas mileage of the vehicle. Also, if a purge valve is stuck open, it creates a vacuum leak that can affect the vehicle engine adversely. This will change the car's air-to-fuel ratio and can cause rough idling and difficulty in starting. Thus, all these challenges associated with purge valves will hamper the growth of the global automotive purge valve market during the forecast period.
This automotive purge valve market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global automotive purge valve market as a part of the global automotive components and accessories market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the automotive purge valve market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the automotive purge valve market encompasses successful business strategies deployed by the key vendors. The automotive purge valve market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The automotive purge valve market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the automotive purge valve market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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47% of the market’s growth will originate from APAC during the forecast period. China, Japan, and South Korea are the key markets for the automotive purge valve market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
Strict emission standards and the growing environmental concerns in the region will facilitate the automotive purge valve market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The automotive industry in APAC was adversely impacted in 2020 due to the COVID-19 outbreak. The imposition of stringent lockdowns and social distancing regulations compelled many business owners to shut down their facilities temporarily. Thus, in 2020, following the outbreak of COVID-19, automotive manufacturing was one of the majorly affected sectors because of challenges from both supply and demand-related uncertainties.
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The automotive purge valve market share growth in the passenger vehicles segment will be significant during the forecast period. The passenger vehicles segment was the largest market segment in the global automotive purge valve market in 2021 and is expected to continue to be the largest market segment during the forecast period. The growing volume of sales of passenger vehicles in developing economies such as China, India, and Southeast Asian nations is driving the growth of the segment.
This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive purge valve market size and actionable market insights on post COVID-19 impact on each segment.
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Automotive Purge Valve Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.5% |
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Market growth 2022-2026 |
$ 757.49 million |
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Market structure |
Fragmented |
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YoY growth (%) |
4.92 |
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Regional analysis |
APAC, Europe, North America, South America, and the Middle East and Africa |
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Performing market contribution |
APAC at 47% |
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Key consumer countries |
US, China, Japan, South Korea, and Germany |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
A. Kayser Automotive Systems GmbH, Agilent Technologies Inc., Continental AG, Delphi Technologies Plc, DENSO Corp., Dorman Products Inc., Eagle Industry Co. Ltd., Eaton Corp. Plc, ETO GRUPPE TECHNOLOGIES GmbH, Hamanakodenso Co., Ltd., Padmini VNA Mechatronics Pvt. Ltd., PARKER HANNIFIN CORP., Rheinmetall AG, Robert Bosch GmbH, ROKI Co, Ltd., SENTEC GROUP, Standard Motor Products Inc., Swagelok Co., TLX Technologies, and Tube Clamps India |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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