As per the report published by Fior Markets , the global automotive active purge pump market is expected to grow from USD XX million in 2018 to USD XX million by 2026 at a CAGR of XX% during the forecast period from 2019-2026. Growing compliance to stringent emission rules, demand for technologically advanced automotive components, and presence of major automotive manufacturers are the dynamics driving the demand of the automotive active purge pump market in Europe region.
Automotive Active Purge Pump Market by Material Type (Metal, Non-Metal), Components, Manufacturing Process, Vehicle Type (Commercial, Passenger), Region and Global Forecast 2019-2026.
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Prominent companies in the industry include Continental AG, Agilent Technologies, Robert Bosch GmbH, and Denso Corporationare offering greater opportunities and major players are continuously focused on new product developments and venture capital investments to obtain market share.
Material type segment covers metal and non-metal. The non-metal is dominates the market due to its cost-effectiveness and ease of availability. The growing replacement of metallic components with non-metallic is increasing in order to make the vehicle light and efficient work. Components segment is divided into DC motor, sensors, actuator, valves, and others. The DC motor segment held highest market share in the market as they are the major component of the automotive active purge pump that drives the working of automotive active purge pump. DC motor converts direct current into mechanical energy with high efficiency and excellent controllability. Manufacturing process segment categorized into cutting, vacuum forming, injection molding, others. The vacuum forming segment is anticipated to reach highest revenue among the manufacturing process segment during forecast period. The vacuum forming process is used in the manufacturing of the plastic components in the automotive and its increasing use has increased the market share of the vacuum forming segment. In addition, it provides flexibility, cost-effectiveness, and speedy production process.Vehicle type segment commercial and passenger. The passenger segment is anticipated to grow with highest CAGR over the forecast period. Here, contributing factors are increasing demand for passenger vehicles across the world, easy availability of finance, and high degree of urbanization. Also, the demand for automotive active purge pump is increasing in different countries due to emerging economic conditions.
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Awareness about emission and fuel efficiency among vehicle owners, government initiatives to reduce carbon emission, and rapid growth in the passenger car sales worldwideare the key driving factors for the automotive active purge pump market. The inclination toward battery-operated automobiles may limit the growth of market. However, increase in demand to reduce hydrocarbon emissions and low investment for active purge manufacturing unitis expected to boost the automotive active purge pump market over the forecast period.
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