The automotive fuel delivery system market is projected to grow at a CAGR of over 6%, during the forecast period 2022 to 2028.
Some of the major factors driving the growth of the market are the enactment of stringent emission control norms, especially for commercial vehicles, noise reduction, increased fuel efficiency, etc. In addition, CNG and LPG vehicles have also gained traction, as part of an effort to reduce emissions from diesel vehicles. However, increasing demand and the penetration of electric vehicles in the automotive sector are expected to hinder the growth of the market.
The drastic pressure variations in common rail injection systems are expected to reduce the emission of nitrogen dioxide by 50% and enhance fuel efficiency by 3%. On the other hand, the aftermarket kits, especially in the emerging markets, mainly drove the segment for liquefied petroleum vehicles. Lack of LPG-equipped models contributed to the high share of the aftermarket.
The Asia-Pacific region is the largest market for automobiles in the world. Despite the Chinese market experiencing sluggish growth, which is the largest automobile market in the world, the region is expected to lead in the automotive fuel delivery system market. CNG-powered vehicles are expected to witness strong growth in the European and North American regions. However, the growth in LPG vehicles is likely to be restricted to the developing markets. Despite tough economic conditions in the South American region, the market should perform relatively well during the forecast period.
The automotive fuel delivery system market is majorly dominated by Robert Bosch, Continental AG, Denso Corporation, Magna International, Keihin Corporation, and Magneti Marelli SPA, among others. The companies are expanding their businesses by forming joint ventures. The market is also witnessing the entry of new players.
Increasing Commercial Vehicles Sales in Europe Driving the Market
According to Eurostat, over 75% of inland cargo transports within the European Union, i.e., about 1,750 billion metric ton-kilometer (mt-km), travel by road. In some European countries, this percentage goes as high as 90%, or more.
The demand for commercial vehicles has been continually increasing in the region, owing to the growing logistics industry, as well as the increasing usage of light commercial vehicles, such as vans (for ride-hailing services).
The underlying factor driving the growth of the light commercial vehicle market in Europe is the increased preference for pickup trucks and small vans, over heavy-duty trucks and railways, for logistics.
With the regulations mandating LCVs to stay within the stipulated weight limit, it has become critical for the OEMs to focus on making LCVs with lighter material.
Additionally, the rapid growth of e-commerce in Europe represents a central pillar for the digital single market and reflects the advancements in the e-tailing sector, which is witnessing the expansion of well-organized retail spaces.
By Alternative Fuel Vehicles
The automotive fuel delivery system market report provides a detailed analysis of global market size, regional and country-level market size, segmentation market growth, market share, competitive Landscape, sales analysis, impact of domestic and global market players, value chain optimization, trade regulations, recent developments, opportunities analysis, strategic market growth analysis, product launches, area marketplace expanding, and technological innovations.
The global automotive fuel delivery system market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of automotive fuel delivery system market for the base year 2021 and the forecast between 2022 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global automotive fuel delivery system market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the automotive fuel delivery system market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted automotive fuel delivery system market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
The study objectives of this report are:
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