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Oncology Drugs Market Share, Overview, Competitive Analysis and Forecast 2031

Posted by Prajakta on April 24, 2024 at 6:32am 0 Comments

The Oncology Drugs Market in 2023 is US$ 169.24 billion, and is expected to reach US$ 306.82 billion by 2031 at a CAGR of 7.7%.

FutureWise Research published a report that analyzes Oncology Drugs Market trends to predict the market's growth. The report begins with a description of the business environment and explains the commercial summary of the chain structure. Based… Continue

Surging Demand for Fuel-Efficient Vehicles Promoting the Automotive Active Purge Pump Market

Overview

An active purge pump refers to an electromechanical device that is used to reduce the hydrocarbon evaporative emissions from the vehicle. This pump actuates the flow of fuel vapors from an evaporative emission canister and controls the purge flow. An active purge pump uses vapor canister, motor, and valve assembly to enable pressurized air in the engine and remove fuel vapor from the canister. Continental AG introduced an active purge pump, which is a part of the evaporative fuel processing system for overcoming stringent hydrocarbon evaporation norms and legislation all over the world.

An automotive active purge pump has several functions, such as hydrocarbon evaporative leak detection, hose off emission detection, and air pressure detection. Stringent regulations regarding the emissions are bound to raise the demand for active purge pumps. The automotive active purge pumps market is expected to exhibit remarkable growth and is anticipated to upscale at 11% CAGR. Such a rise in the demand for fuel-efficient vehicles also increases the demand for active purge pump systems. The rapid growth in the passenger car sales across the globe, rising demand for reduction in hydrocarbon emissions, and stringent environmental regulations are expected to lead to higher demand for the market.

A rise in demand for automotive active purge pumps is likely to create expansion opportunities for new market entrants owing to the lower investments in active purge manufacturing units. However, innovation and development concerning the hydrocarbon emission products are one of the major challenges faced by manufacturers. However, ascension in demand for battery-operated electric vehicles and high prices of active purge pumps are bound to hinder the market growth.

Market Segmentation

The automotive active purge pump market is considered for segmentation which is based on components, materials, vehicle type, manufacturing process, sales channel, and region. Based on material, the global automotive active purge pumps market is segmented into metal and non-metal. Based on components, the global automotive active purge pumps market is segmented into vacuum forming, cutting, and injection molding. Based on sales channel, the automotive active purge pumps market is segmented into aftermarket and original equipment manufacturers. Based on vehicle type, the global automotive active purge pumps market is segmented into passenger car and commercial vehicles.

Detailed Regional Analysis

The automotive active purge pumps market is segmented into the regions of North America, South America, Europe, Asia Pacific, and the MEA. Europe is estimated to lead the global automotive active purge pump market during the forecast period. Asia Pacific, on the other hand, is assessed to garner the second-largest share of the global automotive active purge pump market. In Europe, the development of advanced technology to control the carbon emissions and a higher availability of automotive parts are expected to fuel the demand for automotive active purge pumps over the assessment period. Europe’s market for automotive active purge pump market is also anticipated to witness fast-paced ascension owing to the European emission norms. A rise in the sales of vehicles in Europe and rising awareness regarding the environmental safety is bound to encourage them to hold the highest market share through the review period.

North America is estimated to undertake the second-largest share of the global automotive active purge pump market as per the latest MRFR analysis. This can be owed to the mounting demand for passenger cars in the US. Further, with a rise in the demand for commercial vehicles, the market is bound to witness fast paced ascension during the assessment period.

Key Players

Some prominent players noted in the report based on global automotive active purge pumps market include Continental AG (Germany), Agilent Technologies (US), Robert Bosch GmbH (Germany), and Denso Corporation (Japan).

 

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http://www.tmcnet.com/usubmit/2020/01/31/9090153.htm

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