233 Users Online
Global Automotive Fuel System Market by Component Type (Intake Manifold, Throttle Body, Air Filters, Fuel Injectors, PCMs/ ECMs, Airflow Meters, Fuel Filters, Fuel Pumps, Fuel Tanks, Pressure Regulators)
[235 Pages] Persistence Market Research predicts that the Automotive Fuel System Market will generate revenue of US$ 60,637.0 million by 2022. The leading market players will hold a significant share of the automotive fuel system market in 2022 as demand for these systems will increase. The automotive fuel systems market is anticipated to reach US$ 88,056.8 million by 2033, growing at a 3.4% CAGR.
Fuel systems are one of the mandatory components of almost every fuel-driven vehicle that performs on and off the road globally. The systems vary according to the vehicle type and their engine type, as every engine demands a specific fuel system and the relative components that provide comfortable and efficient performance for the vehicle. A combination of rising per capita income and a move toward a more modern, comfortable, and secure way of life has resulted in a boom in demand for automobiles.
|
Global Automotive Fuel System Market Size (2022A) |
US$ 60,637.0 Million |
|
Global Automotive Fuel System Market Size (2023E) |
US$ 62,740.4 Million |
|
Projected Automotive Fuel System Market Value (2033F) |
US$ 88,056.8 Million |
|
Value CAGR (2023 to 2033) |
3.4% |
|
Collective Value Share: Top 3 Countries (2022) |
39.2% |
Automotive fuel system is critical part of an automobile, which regulates proper fuel distribution in accordance with the standard set by the manufacturer. Customers growing desire for more comfortable, safe, and performance-oriented vehicles necessitates that automobile manufacturers prioritize these factors. Fuel systems are directly associated with the performance of vehicles, whereas modern fuel systems usually use fuel injectors instead of carburetors as a result of technological improvements.
Leading manufacturers of automobile fuel systems are currently switching to plastic fuel tanks, which reduce the weight of the vehicle. In comparison to steel and aluminum gasoline tanks, plastic fuel tanks have a number of benefits, including the fact that they are non-corrodible, lighter, less expensive, scratch- and chip-resistant, and don't require welding.
Polypropylene also has the benefits of being both strong and light. OEM parts made of extruded polypropylene aid in reducing total vehicle weight and fuel consumption. The flexibility of polypropylene (PP) has attracted a lot of attention from manufacturers nowadays. Therefore, it is anticipated that polypropylene (PP) consumption in automotive components will rise during the forecast period.
FREE Report Sample is Available
In-depth report coverage is now just a few seconds away
Get FREE Report Sample
The market for automotive fuel systems grew at a CAGR of 2.8% from 2018 to 2022 and is anticipated to grow at 3.4% from 2023 to 2033 as a result of rising global vehicle demand and production as well as the trending demand from customers for performance improvement and fuel-efficient systems.
Global industrial operations have been negatively impacted by the COVID-19 outbreak. It was challenging for the system manufacturer to increase their market due to global limits on sales and value chains. The market was impacted by the lockdowns and temporary shutdown of Fuel System production plants around the world.
The growing automotive industry generates substantial fuel consumption, which in turn boosts indirect demand for alternative fuels like CNG, LNG, biofuels, etc. due to the limited main fuel sources. Government entities are putting a significant amount of focus on this as growing car fleets generate enormous amounts of carbon emissions that are harmful to society. As awareness grows in the market, consumers are gradually switching to these alternative fuels.
Make This Report Your Own
Take Advantage of Intelligence Tailored to your Business Objective
Get a Customized VersionProminent factors propelling the expansion of the automotive fuel system market is the rising sales of high-performance vehicles and supercars. In a short amount of time, performance-oriented vehicles reach top speeds and are equipped with a advanced drivetrain. Increased sales of high-performance vehicles are anticipated to fuel the global automotive fuel system market's growth in terms of technological advancement.
The sales of automobiles in various segments, including two-wheelers, passenger cars, light commercial vehicles, and heavy commercial vehicles, are anticipated to rise, which would lead to an expansion of the global automotive fuel system market. It is anticipated that demand in the worldwide automotive fuel system market will be driven by the rising demand for alternative fuels like CNG and LNG.
The fuel system is the most crucial component of the vehicle and has a direct impact on how well it performs. The performance of the vehicle will be immediately impacted by any delays or interruptions in the fuel system, which is unacceptable to the customer. The market for automobile fuel systems is facing a challenge due to the large market potential for EVs. Governmental organizations aggressively promote the usage of EVs through subsidies in an effort to decrease the demand for imported petroleum and air pollution. Electric vehicles are less expensive to operate and maintain than vehicles with internal combustion engines. Sales of vehicles with internal combustion engines will be negatively impacted by this, and production of parts for associated vehicles, including fuel systems, would be constrained.
Sales Team
Client Partner
How is North America Contributing to the Growth of the Automotive Fuel System Market?
In 2022, the North American market for automotive fuel systems will represent around 12.6% of the global market for automotive fuel systems. The U.S. is predicted to hold a sizeable proportion of the market in North America over the forecasted period of 2023 to 2033.
The United States accounts for a significant share of commercial vehicle sales in North America, which indirectly reflects a significant presence of vehicle type segment for fuel systems. It is the dominant country in North America in terms of production and sales compared to Canada. Considering the vehicle fleet, production, and sales in comparison to Latin America and Europe, North America is a well-developed market. As a result, it will experience gradual and consistent expansion during the forecast period. The expansion of the North American automobile fuel system market is anticipated to be fueled by the rising number of motor racing events that are being held.
Why is East Asia Emerging as an Opportunistic Automotive fuel system Market?
China is the most lucrative country for manufacturers owing to the country's remarkable concentration of manufacturers in the automotive fuel system market representing its market share of around 27.8% in 2022.
The East Asian automotive market is anticipated to expand gradually due to the significant demand for affordable and low-emission vehicles, whereas China and Japan hold remarkable market shares in this region. Despite focusing its efforts on buses and trucks for FCEVs, China has a stunning share of the world's growing demand for and manufacturing of automobiles. Increased investments in expanding manufacturing capacity are being made by South Korean OEMs like Hyundai as well as Japanese OEMs like Toyota and Honda.
The China Automotive Industry has significant small and large players in the market for fuel system components, where they are primarily focused on reducing the system's price. As they focus on the transition to EVs and FCEVs, Japan and South Korea are taking China's modest growth into consideration.
Which Component Type has the Most Potential for Growth in the Automotive Fuel System Market?
The category of Intake Manifold by component type will dominate the worldwide Automotive Fuel System market with around 17.4% market share in 2022.
The fuel mixture is transported from the carburetor to the engine's intake valves by a network of channels known as the intake manifold. An engine's ability to run efficiently is greatly influenced by the design of the manifold. The gasoline charge put into each cylinder should be the same strength and quality for smooth and equal performance. Fuel injectors have replaced carburetor-based fuel systems in today's automotive industry, turning them into outdated products for systems. However, the intake manifold continues to have a substantial market share in order to improve the car's performance and the efficiency of the fuel system overall.
Which Vehicle type of Automotive Fuel Systems Witnesses the Highest Demand?
The production and fleets of passenger cars have been rising at a steady pace for the past decades, which will result in automotive fuel systems for passenger cars dominating the global market.
The market is divided into four categories based on the kind of vehicle: passenger automobiles, light commercial vehicles, heavy commercial vehicles, and off-road vehicles. Commercial vehicles account for a sizeable portion of the automobile market in North America due to their higher sales volume.
In the global automotive market, the vehicle type category will be dominated by passenger vehicles in terms of sales and value. This is caused by rising per capita income and rising demand for individuals, which encourages them to increase their spending on automobiles. The market share of passenger vehicles on the global market is increased by consumers' preferences for luxurious, high-quality equipment in their vehicles.
Which Engine Type of Automotive Fuel Systems Witnesses the Highest Demand?
The type of vehicle and fuel being utilized are the main factors in fuel system design. In accordance with customer demand and a few performance-related considerations, the gasoline kind holds a substantial market share. In terms of performance, diesel engines are often less favored in passenger cars than petrol ones, although diesel-powered cars are good from an economic standpoint. Given the anticipated time frame, CNG-powered vehicles will experience a moderate increase.
Globally, the automotive fuel system sector is highly competitive, with several manufacturers competing for market supremacy. Major businesses have grown in order to take a competitive advantage over their competitors. The automotive industry has witnessed a number of growth strategies employed by industry players over the past few years, including acquisitions, mergers, and collaborations, which are boosting the fuel system market throughout the forecast period. Participants in the sector are expanding their product portfolios to enhance their revenue shares.
|
Attribute |
Details |
|
Forecast Period |
2023–2033 |
|
Historical Data Available for |
2018–2022 |
|
Market Analysis |
|
|
Key Regions Covered |
|
|
Key Countries Covered |
|
|
Key Market Segments Covered |
|
|
Key Companies Profiled |
|
|
Pricing |
Available upon Request |
By Component Type
By Engine Type
By Vehicle Type
By Region
The Global Automotive Fuel System Market is estimated to be valued at over US$ 60,637.0 Million as of 2022.
Automotive Fuel Systems are projected to increase at 3.4% CAGR and are expected to be valued at around US$ 88,056.8 Million by 2033 end.
Plastic Omnium, Denso Corporation, Robert Bosch GmbH, YAPP Automotive Systems Co., Ltd, TI Automotive, Delphi Technologies PLC, Continental AG, etc.
China, Japan, Germany, India, and South Korea are driving most of the demand for Automotive Fuel Systems.
China, and Germany holding significant manufacturers and exporters of Automotive Fuel Systems.
Japan is slated to hold a 3.6% share of the global market in 2022.
