The global automotive intake manifold market size is expected to reach US$ 60.2 bn by 2027 and to hit CAGR of 5.3% from 2020 to 2027.
Sophistication has become an important characteristic in the production of modern automobile engines and is one of the key factors determining the demand for automotive intake manifolds worldwide. Emission regulations, consumption specifications, and shorter model cycles are factors considered to ensure the development of improved automotive intake manifolds. In the years to come, the global automotive intake manifolds market is predicted to witness a remarkable growth on account of supportive government regulations.
Key Takeaways:
Stringent Regulations to Limit Vehicle’s Weight Augment Demand for Automotive Intake Manifolds
The increasing sophistication in the development of modern automobile engines has been the key factor influencing the demand for automotive intake manifolds across the globe. Further, shorter model cycles, consumption specifications, and emission regulations have also been pivotal to the development of improved automotive intake manifolds. The market is also projected to benefit from the strict government policies and regulatory framework such as The Corporate Average Fuel Economy (CAFÉ) Standards that have been implemented to restrict the weight of vehicles. Such supportive regulations are projected to boost the demand for automotive intake manifolds in the near future. All of these factors are projected to catapult the adoption of automotive intake manifolds during the forecast period.
Aluminum Remains Popularly Used Material in Production of Automotive Intake Manifolds
On the basis of materials used for making automotive intake manifolds the market is segmented into plastic, aluminum, and composites. The study indicates that aluminum held the dominant share in 2015 as it is an excellent material that adds the least amount of weight to the final product. Aluminum is also being used as it completely eliminates the chances of rusting. However, the stringent regulations are gradually pushing the automotive industry to opt for lighter materials such as composites, plastics, and magnesium in the production of automotive intake manifolds. Analysts anticipate that the composites segment will witness significant momentum in the coming years as it is gaining widespread popularity.
Booming Sales of Passenger Cars across Asia Pacific puts Region in Lead
In terms of geography, the global automotive intake manifolds market is segmented into the Middle East and Africa, North America, Europe, Asia Pacific, and South America. Asia Pacific held a significant share in the global automotive intake manifold market in 2015. The primary factors fuelling the growth of Asia Pacific market are rapid technological innovations and considerable investments in the automotive manufacturing industry. Additionally, the rising demand for passenger vehicles and light commercial vehicles across the region is also boosting the production of vehicles, which has created a significant demand for automotive intake manifolds. Analysts anticipate that Europe followed the Asia Pacific market closely in 2019. Collectively, these regions held a whopping share of 68% in the global market in 2019.
Based on materials utilized for making automotive intake manifolds the market is divided into composites, aluminum, and plastic. As per the report, aluminum segment held the major share in 2019 as it is a brilliant material that includes minimal measure of weight in the final product. Regionally, in 2019, Asia Pacific market accounted for the maximum share in the global automotive intake manifold market. The essential drivers fuelling the development of Asia Pacific market are fast industrial advancements and extensive interests in the automotive manufacturing sector.
The requirement for automotive intake manifold has been on a noticeable rise because of the stringent control by different governments to diminish the weight of vehicles to influence them to be fuel effective. Moreover, the plastics are additionally picking up the pace during production procedure as they are to a great degree light in weight and in this manner have a major effect in helping automobile makers accomplish the fuel efficiency.
The indications of powerful development of the automotive sector after the ongoing financial recession has positively affected the global automotive intake manifold market as well. Nations, for example, India, China, and Japan are making a noteworthy commitment to the regularly developing demand from travelers. Increase in disposable income, expanding GDPs, and enhancing way of life are altogether anticipated that would massively affect the demand for passenger vehicles, which, thus, will expand the growth for automotive intake manifolds in the coming years.
In spite of the consistent development in the entire market, the fluctuating costs of raw materials are probably going to negatively affect its income in the forthcoming years. A significant increase in the costs of aluminum and stainless steel are foreseen to hamper the development of the global market. Aluminum costs have been on a relentless surge and have significantly affected the ales and production of automobiles. The fall in fares of aluminum from China is the major factor behind these rising costs of raw materials.
The key players operating in the global automotive intake manifolds market are Mann+Hummel Group, MAHLE GmbH, Aisin Seiki Co., Ltd., Magneti Marelli S.p.A., and Röchling Group among others.
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