Automotive Fuel Vent Valve Market: Introduction

  • Fuel has a tendency to expand its volume when heated and shrink when cooled. This causes the fuel level in an automobile to change, even when the vehicle is stationary, which creates the need for the fuel tank to breathe in order to relive the vacuum and pressure formed inside the tank due to a change in the volume of the fuel.
  • Insufficient venting can cause various issues in the fuel system, ranging from vapor-lock to fuel spills. An automotive fuel vent valve enables the fuel tank to release pressure or vacuum when fuel is being pulled from the tank or filled. These valves also have a rollover protection feature to avoid spillage during accidents.

Key Drivers of Automotive Fuel Vent Valve Market

  • Growing per capita GDP and disposable income of the global population has led to a rise in number of vehicles in use. International Organization of Motor Vehicle Manufacturers (IOCA) stated that motorization rate was 471 per 1000 inhabitants in 2015. It is anticipated to increase in the near future. Rise in transportation and logistics activities have further boosted the number of on-road commercial vehicles. Rapid increase in sales of automobiles and miles driven has led to an increase in the demand for fuel vent valves from OEMs as well as the aftermarket segment, thereby driving the automotive fuel vent valve market across the globe.
  • Transportation is a leading cause for a rise in the levels of pollution worldwide. The U.S. Environmental Protection Agency states that transportation emissions contribute to 28% of the total greenhouse gases emitted in the country. Amidst these rising environmental concerns, transportation regulatory agencies in the U.S., China, Australia, the European Union and several other countries have introduced stringent emission norms that compel OEMs to reduce fuel consumption and tail pipe emissions. Fuel vent valves ensure optimal pressure balance inside the fuel tank, thus delivering the required amount of fuel for combustion, which reduces the extra amount of fuel drawn by the engine and subsequently, minimizes emissions. Thus, growing concerns regarding fuel economy and emissions are boosting the global automotive fuel vent valve market.

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Challenges in Automotive Fuel Vent Valve Market

  • The traditional fuel valve vent emits the vapors of fuel directly to the atmosphere, thus causing a rise in pollution levels of HCs. This is a major challenge to automotive fuel vent valves. Evaporative emission control systems are being incorporated in the latest vehicle models to tap and utilize these fuel vapors. These systems contain an electrically controlled fuel tank isolation valve (FTIV) that directs the flow of fuel vapors from the tank toward the carbon canister. This valve is equipped with mechanical bypasses to release the cumulated pressure or vacuum from the fuel tank if it exceeds a certain range. These new technologies are anticipated to overcome the drawbacks of HC emission and propel the global automotive fuel vent valve market in the near future.

Impact of COVID-19 pandemic on Automotive Fuel Vent Valve Market

  • The recent pandemic of COVID-19 has disrupted automotive supply chains, thus creating a shortage of raw materials and components. Moreover, the decline in sale of vehicles amidst lockdowns imposed by governments further hampered the demand for fuel vent valves. However, the demand for automotive fuel vent valves across the globe is anticipated to increase, as governments are easing restrictions and companies are restarting their operations with precautionary measures. Furthermore, mass vaccination drives initiated across countries such as the U.S., and Canada are expected to assist industries gain momentum.

Europe to hold significant share of global Automotive Fuel Vent Valve Market

  • The presence of leading automobile manufacturers in major countries across Europe, such as Germany and Italy, is fuelling the share held by the region in the global automotive fuel vent valve market. Furthermore, stringent vehicle emission norms, such as the EURO 6 standard introduced in 2014, are further increasing the demand for automotive fuel vent valves in order to reduce HC emissions and fuel consumption.

Key Players Operating in Automotive Fuel Vent Valve Market

The global automotive fuel vent valve market is highly concentrated due to the presence of top manufacturers. A few of the key players operating in the global automotive fuel vent valve market are:

  • Crown Automotive Sales Co. Inc.
  • Eaton
  • Fraenkische Rohrwerke Gebr. Kirchner GmbH & Co. KG
  • Fuel Safe Systems
  • Newton Equipment Ltd
  • Perko Inc.
  • Raval
  • Rheinmetall Automotive AG
  • Stant Corporation
  • Tank's Inc.
  • UNICK CORPORATION
  • Vitesco Technologies

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Global Automotive Fuel Vent Valve Market: Research Scope

Global Automotive Fuel Vent Valve Market, by Type

  • In-Line Valves
  • Tank Mount Valves

Global Automotive Fuel Vent Valve Market, by Material

  • Aluminum
  • Brass
  • Plastic
  • Others

Global Automotive Fuel Vent Valve Market, by Mode of Actuation

  • Mechanically Actuated
  • Electrically Actuated

Global Automotive Fuel Vent Valve Market, by Vehicle Type

  • Motor Bikes
  • Passenger Vehicle
  • Commercial Vehicle
  • Light Commercial Vehicle
  • Heavy Commercial Vehicle

Global Automotive Fuel Vent Valve Market, by Sales Channel

  • OEM
  • Aftermarket

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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