LONDON--(BUSINESS WIRE)--The global automotive fuel filler cap market is expected to post an incremental growth of USD 135.69 million during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
Countries with exceeding limits of ground ozone levels have mandated strict testing procedures for exhaust emissions as well as fuel leaks in vehicles. This is compelling vendors to employ advanced manufacturing and testing methods and techniques to test the safety of fuel filler caps under crash conditions. This is one of the key factors that will drive the growth of the global automotive fuel filler cap market.
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As per Technavio, the use of fuel filler caps in flexible fuel vehicles will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Automotive Fuel Filler Cap Market: Use of Fuel Filler Caps in Flexible Fuel Vehicles
Growing environmental concerns and depleting sources of conventional fuel are prompting automakers to look for other sources of energy for vehicles. This has led to the emergence of flexible fuel vehicles (FFVs) and bio-fuel vehicles. These vehicles incorporate slight modifications and changes in their engine and fuel systems to offer similar performance to gasoline-only vehicles. To differentiate these vehicles from gasoline-only vehicles, automobile manufacturers are introducing yellow fuel caps in their FFVs. A few automakers use a yellow ring in the fuel filler neck to differentiate FFVs from conventional gasoline-only vehicles. The emergence of FFVs is expected to positively impact the growth of the market during the forecast period.
“Developments in the field of automotive fuel refueling system and onboard diagnostics in automotive fuel system will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Global Automotive Fuel Filler Cap Market: Segmentation Analysis
This market report segments the global automotive fuel filler cap market by application (passenger vehicles and commercial vehicles) and geography (Americas, APAC, and EMEA).
The APAC region led the market in 2018, followed by EMEA and the Americas respectively. During the forecast period, the APAC region is expected to maintain its dominance over the market. This is due to high demand from the growing population, the availability of easy vehicle finance options, and improving road network in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Geographic comparison
- Key leading countries
- Landscape disruption
- Competitive scenario
- Vendors covered
- Vendor classification
- Market positioning of vendors
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