Automotive Fuel System Market
Global Market Study on Automotive Fuel Systems: Adoption of Polypropylene (PP) as Substitute for Traditional Heavy-metal to Boost Demand
Automotive Fuel System Market is segmented by component type that is Intake Manifold,Throttle Body,Air Filters, Fuel Injectors, PCMs/ ECMs, Airflow Meters, Fuel Filters,Fuel Pumps, Fuel Tanks, Pressure Regulators, also by engine type that is Petrol, Diesel, CNG, and by vehicle type that is Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, Off-road Vehicles.
Today, prominent automotive fuel system manufacturers are in the process of transition to plastic fuel tanks. Polypropylene fuel tanks are produced by extrusion or rotational molding. In comparison with aluminum and steel fuel tanks, plastic tanks are resistant to scratches and chipping, have lower weight, require no welding, have lower costs, and are non-corrodible.
Furthermore, polypropylene offers advantages of durability and lightweight. Extruded polypropylene OEM components help decrease overall vehicle weight and fuel consumption.
In recent years, the adaptability of polypropylene (PP) has gained significant attraction from manufacturers. Therefore, it is expected that, polypropylene (PP) consumption will continue to increase in automotive components in the foreseeable future.
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- Magna International Inc.
- Plastic Omnium
- Westport Fuel Systems Inc.
- Delphi automotive PLC
- Denso Corporation
- Robert Bosch GmbH
- Hitachi Automotive Systems
- AISIN SEIKI Co., Ltd.
- Cummins Inc.
- YAPP Automotive Systems Co., Ltd
Investments to Boost Production of Fuel Systems against Backdrop of Surging Demand
Manufacturers in the automotive fuel system market are focusing on gaining a competitive advantage and improving technologies in their product portfolios for the transformation of auto ancillary industry, since the automotive fuel system market is high-volume and fairly fragmented.
- For instance, in 2016, TI Fluid Systems inaugurated a new fuel tank system production facility in Baoding, China.
- In 2015, Continental AG established a new production facility for engine components in Kaluga, Russia, for the manufacture of various components, including fuel pumps.
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Offering Customized or Demand-specific Automotive Fuel Systems
Most manufacturers in the automotive fuel system market focus on product differentiation in order to maintain a competitive advantage in the landscape. Automakers are introducing rapid changes in automotive and related automotive fuel system designs in order to cater to ever-changing consumer preferences.
Automotive fuel system manufacturers have responded to these market conditions by offering customized or requirement-specific fuel systems, such as brushless fuel pumps, fuel tanks, and compact pumps, for automakers. Offering such fuel systems is a potential opportunity for players in the market to secure long-term supply contracts from automakers.
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Increasing Investments in infrastructure Development to Support Market Growth
The private sector is emerging as a significant player across numerous infrastructure segments, from roads and communications to power and airports. For the completion of these projects, governments require high efficiency construction equipment and machines that can complete projects within the stipulated time and consume less fuel.
Moreover, these projects may create growth opportunities for players in the automotive fuel system aftermarket, owing to the need for replacement of many components such as air filters and fuel filters that are frequently required to maintain the life of off-road vehicles.
- For Instance, the Indian government plans to spend US$ 1.4 trillion on infrastructure in the coming five years.
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Automotive Fuel System Market: Structure Analysis
The automotive fuel system market is fairly fragmented, as several small-scale players are noted to operate in the landscape. These cumulatively account for a significant proportion of the market in terms of volume. Key participants in the automotive fuel system market are Plastic Omnium, Denso Corporation, Robert Bosch GmbH, YAPP Automotive Systems Co., Ltd, and TI Automotive, among others.
Growing Vendor Consolidation by Leading Players
Over the last few years, the automotive fuel system market has been observing a surge in the number of collaborations and acquisitions by prominent market participants to strengthen their footprint in regional markets. For instance, in 2016, TI Fluid Systems acquired Millennium Industries Corporation, which strengthened the company’s product portfolio, expertise, and manufacturing reach.
COVID-19’s Impact on Automotive Fuel System Market
COVID-19 is exhibiting a negative impact on the global automotive industry, and the effect of the outbreak is expected to persist in the near term. East Asia - the leading region in the automotive fuel system market - being the epicenter of the initial outbreak, is sending ripples of disturbances across the globe.
Furthermore, the Chinese city of Wuhan - the worst affected region - has been a major manufacturing hub for automobiles and automotive systems. Besides, the sector would face pressure from not only the supply side but also the demand side and exports, if the spread of COVID-19 persists for more than two months globally.
While production has drastically declined, key players are prepared to face the adverse effects of the outbreak. On this premise, Plastic Omnium, a key player, issued a statement regarding the organization’s preparedness to overcome the challenges due to the pandemic.
A detailed view of the global automotive fuel system market has led our analysts to conclude that, the market is developing at a decent rate on the back of increasing automotive production and sales, worldwide. The automotive fuel system market is anticipated to be characterized by advanced product development based on vehicle type, over the forecast period. South and East Asia are likely to be opportunistic markets in terms of sales, over the coming years.
Key Segments of Automotive Fuel System Market
PMR’s report divides the automotive fuel system market into four significant segments - component type, engine type, vehicle type and region. This report offers comprehensive data and information about important market dynamics and growth parameters related to these categories.
Key Questions Answered in Report
- How much is the automotive fuel system market worth?
The global automotive fuel system market is estimated to be worth US$ 55.5 Bn in the year 2021.
- What will be the demand outlook?
The global automotive fuel system market is expected to witness a CAGR of 3.9% between 2021 and 2031.
- What was the last 5 year market CAGR?
The automotive fuel system market witnessed a CAGR of 2.9% between 2015 and 2020.
- What are the key trends of automotive fuel system market?
The current trend is that of using polypropylene fuel tanks in place of steel and aluminum fuel tanks as they prove to be resistant to chipping and scratches and are also lightweight, need no welding, non-corrosive.
- What is driving the demand for automotive fuel system?
Excessive demand for automotives is driving the demand for automotive fuel system.
- What is the market share of top 5 players?
The top 5 players including Magna International Inc., Plastic Omnium, Westport Fuel Systems Inc., Delphi Automotive PLC, and Denso Corporation hold more than 60% of the market share.
- What are the top 5 countries driving demand?
The top 5 countries driving demand include Germany, the US, UK, Japan, and South Korea.
- What is North America’s market Outlook?
North America holds a significant market share due to the US holding the baton.
- At what percentage automotive fuel system market is going to register growth in Europe?
Europe is expected to witness growth at the rate of 2.5% in the automotive fuel system market between 2021 and 2031.
- What is the key market statistics in Korea and Japan?
Japan and South Korea will continue to be amongst the top 5 regions driving the automotive fuel system market.