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.
- Continental AG
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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