Global Automotive Fuel Injector Market to Produce over 400 Million Units by 2020, According to Technavio
According to Technavio’s latest report, the global
automotive fuel injector market is likely to grow at a CAGR of
over 3% during the forecast period.
A fuel injector is primarily used to enhance fuel efficiency, reduce
emission levels, and enhance engine performance. Growing concerns about
fuel efficiency and stringent fuel emission regulations should help the
growth of the market during the forecast period.
According to Vinay Hirakki, a lead research analyst at Technavio for automotive
components, “With the western and European markets returning to
pre-recession levels with the stabilizing of the economy, demand for
automobiles is expected to increase. This will further intensify demand
for fuel injectors.
In this report, Technavio
covers the present scenario and growth prospects of the global
automotive fuel injector market for 2016-2020. The report
also presents the vendor landscape and a corresponding detailed analysis
of the top three vendors operating in the market. The market is
segmented into the following regions:
APAC: largest market for automotive fuel injectors
The automotive fuel injector market in APAC is expected to produce over
221 million units by 2020, growing at a CAGR of over 3%.
Countries in APAC are developing into global hubs for automotive
components, as many global OEMs are shifting manufacturing operations to
this region. For instance, Daimler is manufacturing trucks in India
under the brand name Bharat Benz. Volvo has entered the Indian market
with Eicher trucks and buses. In China, Volvo is participating in a
joint venture with Dongfang Commercial Vehicles.
The demand for fuel injectors is mainly propelled by China, which is the
largest market for vehicles in the region. India is expected to be one
of the fastest-growing automotive fuel injectors markets in the world.
This growth stems from the high penetration of diesel vehicles and
rising demand for passenger cars and HCVs.
“In addition, governments in these countries have mandated OEMs to issue
fuel consumption data for vehicles and obtain the necessary approvals
from authorities. This will also contribute to the growth of the global
automotive fuel injector market in APAC,” says Vinay.
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EMEA: stringent emission norms boost growth
The automotive fuel injector market in EMEA is expected to produce over
98 million units by 2020, growing at a CAGR of over 3%.
The market for fuel injectors is driven by the growing adoption of
stringent emission norms stemming from rising health and environmental
concerns, rise in oil prices, and scarcity of oil reserves. In addition,
initiatives by European governments to enhance fuel efficiency and to
reduce carbon emissions are propelling the growth of the market.
The enforcement of regulatory standards has been crucial to the growth
of the fuel injector market in Europe in the recent years.
Americas: fuel economy regulations favor growth
The automotive fuel injector market in the Americas is predicted to
produce an estimated 93 million units by 2020, growing at a CAGR of over
2%.
Fuel injector sales in the region are driven by the current rule of
corporate average fuel economy, which has mandated an average of 29 mpg
and should rise to 35.5 mpg by the end of 2016. These rules have been
implemented with a view to reduce dependency on fossil fuels.
The market is also expected to grow because of increased sales of
commercial vehicles in North America and the fact that Mexico and Canada
have emerged as significant manufacturing hubs for many OEMs.
Key Vendors:
-
Delphi
-
Continental AG
-
Denso
Some of the other prominent vendors listed in the report are: Eaton,
Hyundai KEFICO, Stanadyne Holdings, STMicroelectronics, SMP OE, Keihin,
and Infineon Technologies.
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About Technavio
Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.
If you are interested in more information, please contact our media team
at media@technavio.com.
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