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Automotive Active Purge Pump Global market Size, Share And Growth Analysis For 2024-2033
Automotive Active Purge Pump Global Market Size, Trends, And Forecast 2024-2033
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LONDON , GREATER LONDON , UNITED KINGDOM, September 5, 2024 /EINPresswire / -- The automotive active purge pump market has experienced robust growth in recent years, expanding from $2.95 billion in 2023 to $3.21 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to rising environmental pollution awareness and legislation, rising demand for cars with reduced emissions, increasing focus on sustainability, rising public preference, and growing demand for cleaner and more fuel-efficient passenger vehicles.
What Is The Estimated Market Size Of The Global Automotive Active Purge Pump Market And Its Annual Growth Rate?
The automotive active purge pump market is projected to continue its strong growth, reaching $4.55 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The growth in the forecast period can be attributed to increasing sales of passenger vehicles, increasing demand of DC motor based automotive active purge pump, increasing need to reduce the emissions hydrocarbon evaporation, increasing implementation of strict pollution control regulations, and growing demand for cleaner and more fuel-efficient passenger vehicles.
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Growth Driver Of The Automotive Active Purge Pump Market
The increasing adoption of electric and hybrid vehicles is expected to propel the growth of the automotive active purge pump market going forward. Electric vehicles run solely on electricity stored in batteries, while hybrid vehicles combine an electric motor with a traditional combustion engine for propulsion. EVs produce zero tailpipe emissions, significantly reducing greenhouse gases compared to internal combustion engine (ICE) vehicles, while Hybrids combine traditional engines with electric propulsion, leading to improved fuel efficiency and lower emissions compared to conventional vehicles. Automotive active purge pumps manage evaporative emissions, ensuring compliance with stringent environmental regulations and enhancing overall vehicle efficiency, thus benefiting from the shift towards cleaner transportation technologies.
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Which Market Players Are Driving TheAutomotive Active Purge Pump Market Growth?
Key players in the automotive active purge pump market include Robert Bosch GmbH, Hitachi Ltd., Denso Corporation, ZF Friedrichshafen AG, Continental AG, Mitsubishi Electric Corporation, Aisin Corporation, Cummins Inc., Valeo S.A., Infineon Technologies AG, Marelli Holdings Co. Ltd., BorgWarner Inc., Vitesco Technologies Group AG.
What Are the Key Trends That Influence TheAutomotive Active Purge Pump Market Size?
Major companies operating in the automotive active purge pump market are developing purged lip sealing chromatographic valves to offer superior sealing capabilities compared to traditional seals. Purged lip-sealing chromatographic valves are integral to automotive active purge pump systems, enabling improved emission control, reliability, and operational efficiency.
How Is The Global Automotive Active Purge PumpMarket Segmented?
1) By Component: Direct Current (DC) Motor, Sensors, Actuator, Valves
2) By Material Type: Metal, Non Metal
3) By Manufacturing Process: Cutting, Vacuum Forming, Injection Molding
4) By Vehicle Type: Passenger Vehicle, Commercial Vehicle
5) By Sales Channel: Original Equipment Manufacturers (OEMs), Aftermarket
Geographical Insights: North America Leading TheAutomotive Active Purge PumpMarket
North America was the largest region in the automotive active purge pump market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive active purge pump market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Automotive Active Purge Pump Market Definition
An automotive active purge pump (APP) is a component in modern vehicle emission control systems, designed to actively manage and reduce fuel vapor emissions from the fuel tank. Its primary aim is to improve fuel efficiency and minimize harmful emissions by effectively purging fuel vapors into the engine for combustion.
Automotive Active Purge Pump Global Market Report 2024 from TBRC covers the following information:
.Market size data for the forecast period: Historical and Future
.Macroeconomic factors affecting the market in the short and long run
.Analysis of the macro and micro economic factors that have affected the market in the past five years
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global automotive active purge pump market report covering trends, opportunities, strategies, and more
The Automotive Active Purge Pump Global Market Report 2024by The Business Research Company is the most comprehensive report that provides insights on automotive active purge pump market size, automotive active purge pump market driversand trends, automotive active purge pump market major players, automotive active purge pump competitors' revenues, automotive active purge pump market positioning, and automotive active purge pump market growth across geographies. The automotive active purge pump market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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The Business Research Company
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