The global automotive purge valve market is expected to post a CAGR close to 4% during the period 2019-2023, according to the latest market research report by Technavio.
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A key factor driving the growth of the market is the regulatory standards on vehicular emissions. The growing environmental concerns and the shortcomings in the control of nitrous oxide and carbon monoxide emissions have led to the implementation of stringent emission standards over the years. Such emission standards are acting as a market driver, increasing the adoption rate of automotive purge valves. Furthermore, governments in developed automotive markets such as North America and Europe are driving the deployment of stringent emission standards by putting a cap on the maximum permissible limits on harmful gases, including nitrogen oxides, carbon monoxides, hydrocarbons, and particulate matter. Moreover, our experts identified that such regulatory norms and standards are driving the improvement and advances in the automotive evaporative emission control system market, which in turn, is expected to drive the automotive purge valve market during 2019-2023.
As per Technavio, the advanced simulation techniques in evaporation emission control systems will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global automotive purge valve market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over the next few years.
Global automotive purge valve market: Advanced simulation techniques in evaporation emission control systems
At present, vendors and OEMs are incorporating superior evaporative emission control systems within vehicles’ exhausts systems, for which advanced simulation and analysis techniques are being used. In most evaporative emission control systems, an activated carbon canister is used to extract hydrocarbon emissions from the tank. Currently, OEMs are looking to optimize the size of these carbon canisters for the storage of hydrocarbons with the growing use of forced induction systems (supercharger and turbocharger) in engines. For optimization, advanced simulation techniques are being incorporated. Advanced models are being tested, wherein two advanced carbon canisters are used to simulate hydrocarbon vapor loading and purging cycles. Thus, the use of such advanced techniques and simulation models is expected to drive the improvement in design and engineering of evaporative emission control systems, thereby boosting the revenue for the automotive purge valve market during the forecast period.
“Apart from advanced simulation techniques, the growing developments in evaporative emission control system components is another factor that is expected to showcase a positive outlook. For instance, electronically operated purge valves are finding increasing applications in vehicles, as they are more efficient than conventional purge valves. They are more compact, lightweight, and efficient in terms of operation. As a result, several OEMs are now being pushed to increase the adoption rate of advanced purge valves in vehicles. Thus, such developments in evaporative emission control system components are expected to drive market growth during the forecast period,” says a senior analyst at Technavio.
Global automotive purge valve market: Segmentation analysis
This market research report segments the global automotive purge valve market by application (passenger vehicles and commercial vehicles) and geographical regions (APAC, Europe, North America, South America, and MEA).
The APAC region led the market in 2018, followed by Europe, North America, South America, and MEA respectively. However, during the forecast period, the South American region is expected to register the highest incremental growth due to stringent emission standard, especially in Brazil and Argentina.
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