Enjoy complimentary customisation on priority with our Enterprise License!
The automotive purge valve market size is forecast to increase by USD 973.87 million, at a CAGR of 4.7% between 2023 and 2028. The accelerated growth of the market is by various factors, including the environmental benefits of evaporative emission control systems, the growing market for hybrid vehicles in APAC, and the regulatory standards on vehicular emissions.
The report offers extensive research analysis on the Automotive Purge Valve Market, with a categorization based on Application, including passenger vehicles and commercial vehicles. It further segments the market by Distribution Channel, encompassing OEM and aftermarket. Additionally, the report provides Region segmentation, covering APAC, Europe, North America, the Middle East and Africa, and South America. Market size, historical data (2018-2022), and future projections are presented in terms of value (in USD million) for all the mentioned segments.
For More Highlights About this Report, Download Free Sample in a Minute
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the automotive purge valve market growth is the environmental benefits of evaporative emission control systems. Environmental pollution is one of the biggest concerns across the world, with an alarming increase in global warming. In addition, the automotive industry is one of the major contributors to the deterioration of air quality and the average increase in temperature. Therefore, to curb environmental pollution, OEMs are using evaporative emission control systems in vehicles.
Moreover, gasoline vehicles dominate the global automobile industry. In addition, gasoline is highly combustible in nature and can evaporate easily. Therefore, this makes it harmful to humans and other living beings. Furthermore, it contains benzene, which causes health hazards when combined with sunlight and exhaust gases. Hence, such factors are driving the market growth during the forecast period.
A key factor shaping the automotive purge valve market growth is the increasing focus on fuel efficiency. The demand for fuel efficiency has been driving innovations in automotive components, including purge valves. In addition, these valves play a crucial role in managing the evaporative emissions from the fuel system, contributing to the overall efficiency of the vehicle. Furthermore, purge valves help in reducing evaporative emissions, which occur when fuel evaporates from the tank.
Moreover, by effectively managing these emissions, vehicles become more environmentally friendly and compliant with stricter emission regulations. In addition, as emission standards become more stringent globally, automakers are compelled to adopt technologies that aid in reducing pollution. Furthermore, purge valves, by controlling evaporative emissions, assist in meeting these strict regulatory requirements. Hence, such factors are driving the market growth during the forecast period.
Reliability issues with purge valves are one of the key challenges hindering the automotive purge valve market growth. There are several purge valve problems associated with cars. In addition, the most common problem with the purge valve is when it sticks or does not close fully. Furthermore, this may cause the Check Engine light to come on.
Moreover, in some cars, a stuck-open purge valve can cause difficulty in starting right after refueling at a gas station. In addition, if the purge valve is not opening properly, it may adversely impact the gas mileage of the vehicle. Furthermore, if a purge valve is stuck open, it creates a vacuum leak that can affect the vehicle engine adversely. Hence, such factors are hindering the market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, market growth and forecasting also include key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Automotive Purge Valve Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
BorgWarner Inc: The company offers automotive purge valves such as Delphi purge valves.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative market research and growth analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The passenger vehicles segment is estimated to witness significant growth during the forecast period. The increasing volume of sales of passenger vehicles in developing economies such as China, India, and Southeast Asian nations is driving the growth of the segment. In addition, the rise in the sales of hybrid vehicles is acting as a market driver for the growth of this segment. Furthermore, the implementation of stringent emission norms for passenger vehicles is also driving the growth of this segment.
Get a glance at the market contribution of various segments Download the PDF Sample
The passenger vehicles segment was the largest segment and was valued at USD 2,944.81 million in 2018. Moreover, developments taking place in evaporative emission control systems and devices for use in passenger vehicles are further fueling the advances in purge valves, which are contributing to revenue generation. In addition, in the automotive industry, passenger vehicles are one of the main sources of environmental pollution. Furthermore, the growing focus of government bodies and regulatory institutions on curbing vehicular emissions has led to the deployment of emission standards. Therefore, these standards were first adopted for passenger vehicles before being implemented for commercial vehicles. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
For more insights on the market share of various regions Download PDF Sample now!
APAC is estimated to contribute 49% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Some of the major contributors to the automotive purge valve market in APAC include China, Japan, South Korea, and India. In addition, emission standards and the growing environmental concerns in the region are also driving the uptake of evaporative emission control devices. Furthermore, this is contributing to the growth of the regional automotive purge valve market. Moreover, the region comprises some of the fastest-emerging automotive markets, such as China and India. In addition, both countries have been witnessing significant growth in the demand for automobiles, which is driving the automobile market in APAC during the forecast period.
The automotive purge valve market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest market trends and analysis and growth opportunities from 2018 to 2028.
Automotive Purge Valve Market Scope |
|
Report Coverage |
Details |
Page number |
169 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.7% |
Market Growth 2024-2028 |
USD 973.87 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.36 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 49% |
Key countries |
US, China, Japan, India, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
A. Kayser Automotive Systems GmbH, BorgWarner Inc., Continental AG, DENSO Corp., Dorman Products Inc., Eagle Industry Co. Ltd, Eaton Corp. Plc, ETO GRUPPE TECHNOLOGIES GmbH, Inert Corp., Padmini VNA Mechatronics Pvt. Ltd., PV Clean Mobility, Rheinmetall AG, Robert Bosch GmbH, Rotex Automation Ltd., SENTEC GROUP, Standard Motor Products Inc., TLX Technologies, Tube Clamps India, Valeo SA, and Parker Hannifin Corp. |
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. |
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. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.