9:06 AM Automotive Fuel System Market Size to experience an impressive growth of 4.5% during 2020-2025 |
Automotive fuel system market is likely to witness a healthy CAGR of 4.5% during the forecast period. The demand for automotive fuel system is directly influenced by the global vehicle production. It is estimated that approximately 652.0 million vehicles are likely to be produced worldwide during 2019-2024 out of which Asia-Pacific will alone account for 55.3% share. Some other noticeable factors that further substantiate the demand for fuel systems are the stringent regulations regarding the carbon emission reductions and fuel efficiency enhancements, a shift from gasoline to diesel-powered vehicles to alternative powertrain technologies, advancement in fuel system technologies, and an increasing demand for lightweight systems. The automotive industry experienced the most disruptive decade where the focus on the development of complete autonomous vehicles as well as electric vehicles were the megatrends. Several big companies, such as Apple and Google, are keenly developing autonomous vehicles and electric vehicles, which are rendering a huge threat to the conventional automakers. Conventional automakers are also squandering huge money for the development of autonomous and electric vehicles in order to remain competitive in the market. Stringent regulations regarding the carbon emission reductions, fuel efficiency enhancements, and passenger safety are the primary causes of the shift from conventional gasoline- or diesel-powered vehicles to alternative powertrain technologies. It is estimated that these regulations will also imprint a huge impact on the competitive landscapes on the automotive industry as well as on its components markets including fuel systems.
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By Vehicle Type: Based on the vehicle type, the market is segmented as passenger car, light commercial vehicle, medium- to heavy-duty commercial vehicle, and hybrid vehicles. Passenger car currently dominates the market and is expected to maintain its dominance over the next five years, driven by higher production units of cars than LCVs and MHCVs. Increasing per capita income, especially in the developing economies coupled with rising living standards is creating more demand for cars. This, in turn, is creating a greater demand for fuel systems for cars. The hybrid vehicles segment is likely to witness the highest growth during the forecast period, driven by increasing demand for electric vehicles and hybrid electric vehicles. By Technology Type: Based on the technology type, the automotive fuel system market is segmented into gasoline port injection, gasoline direct injection, and diesel direct injection. The gasoline direct injection segment is expected to register the highest growth over the next five years as it addresses the growing concerns of fuel efficiency, vehicle exhaust gases, and escalating fuel prices. By Region: In terms of regions, Asia-Pacific is expected to remain the largest market for automotive fuel system in the coming five years. China, Japan, South Korea, and India are likely to act as the growth engines of the region’s market over the next five years. The region is also likely to witness the highest growth over the next five years as all the major automakers are opening their assembly plants in the region to capture the growing market potential. North America and Europe, other considerable markets, are likely to generate sizeable growth opportunities in the next five years, supported by increasing automobile production and a shift from conventional gasoline- or diesel-powered vehicles to alternative powertrain technologies. Click below to run through the detailed ToC of the report: https://www.stratviewresearch.com/toc/638/automotive-fuel-systems-market.html Features of the Report This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. Based on the research, a proper report is crafted with the following key features:
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