Automotive Fuel Delivery System Market - Growth, Trends, and Forecast (2019 - 2024)
|出版商||Mordor Intelligence LLP||商品編碼||635748|
|出版日期||內容資訊||英文 70 Pages
|全球汽車燃料供給系統市場:成長，趨勢，預測(2018年∼2023年) Automotive Fuel Delivery System Market - Growth, Trends, and Forecast (2019 - 2024)|
|出版日期: 2019年06月01日||內容資訊: 英文 70 Pages||
The global automotive fuel delivery system market is expected to register a CAGR of 5.8%, during the forecast period, 2019-2024
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, and 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. The region, despite sluggish growth in the Chinese market, the largest automobile market in the world, 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 region. 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 there during the forecast period.
The global automotive fuel delivery system market has been segmented by fuel type, vehicle type, and geography.
In 2018, commercial vehicles recorded a sales of more than 2.6 million, of which, an increase of 3.9% as compared to 2017. The sales of light commercial vehicles contributed to a higher share of more than 75% of the total commercial vehicle sales, while the remaining share was occupied by heavy commercial vehicles.
With the rising exhaust emission, the governments across the world and the international agencies have enacted stringent emission norms pertaining to diesel engines.
These models are equipped with superior common rail diesel injection (CRDi) engine technology, which enhances fuel efficiency, and ensures the lowest cost of ownership, high uptime, and increased driver comfort.
According to Eurostat, over 75% of inland cargo transports within the European Union, i.e., about 1,750 billion metric ton-kilometer (tkm), 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 the LCVs to stay within the stipulated weight limit, it has become critical for the OEMs to focus on making LCVs with lighter material.
Additionally, e-commerce rapidly growing 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.
As the e-commerce industry continues to grow across Europe, the demand for more advanced distribution network is increasing.
Additionally, with the enactment of stringent emission and fuel economy norms for the commercial vehicles, the automakers are focusing on manufacturing electric trucks, which, in turn, is expected to boost the demand for fuel tanks.
Apart from Europe, the Asia-Pacific region is also experiencing a boom in the sales of commercial vehicles, owing to growing e-commerce (resulting in growth in the logistics industry), construction industry, and mining industry.
The global automotive fuel delivery system market is majorly dominated by Robert Bosch, Continental AG, Denso Corporation, Magna International, Keihin Corporation, Magneti Marelli SPA, and among others. The companies are expanding their business by making joint ventures and new companies are entering the market.
For instance, In May 2018, Dongfeng Motor Parts And Components Group Co., Ltd. and US Cooper Standard singed a joint venture agreement in Wuhan. The two companies are going to set up joint manufacture of piping systems and sealing materials. The new company's main products are fuel lines, brake lines, fuel delivery systems, and automotive sealing systems.