LONDON--(BUSINESS WIRE)--The global automotive fuel injector market size is expected to grow by USD 17.16 million during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. The impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth according to the latest market research report by Technavio. Request a free sample report
Internal combustion engines accounted for more than 90%-92% of the passenger car sales in 2019. Although EVs are gaining traction, gasoline-powered vehicles dominate the passenger vehicle segment, driving the demand for IC engine vehicles. Countries such as the US and China are the largest markets for automobiles and primarily use gasoline-powered vehicles. In addition, the increasing demand for sport utility vehicles (SUVs) is another major factor driving the sale of gasoline-powered cars. This increase in demand for SUVs can be attributed to the comfort and safety offered by these vehicles, their off-road capabilities, and their higher seating capacity compared with sedan and hatchback cars. Therefore, the increase in demand for SUVs will concurrently generate the demand for IC engines and fuel injection systems during the forecast period.
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As per Technavio, the innovation in diesel fuel injectors will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Automotive Fuel Injector Market: Innovation in Diesel Fuel Injectors
Technological advances and increased use of electronics have improved the efficiency of fuel injection technology. In addition, the stringent vehicular emissions standards have resulted in a greater need to monitor fuel injection systems to ensure optimum performance of the engine. Therefore, vendors are incorporating miniaturized sensors to monitor fuel injectors’ performance. For instance, Denso Corp.’s i-ART pressure sensors are used for diesel fuel injector monitoring. i-ART technology measures fluctuations in fuel pressure and temperature in each injector as it injects fuel up to 1,000 times per second. This ensures optimal control of the fuel injection amount and its timing. In May 2018, Denso Corp. agreed to supply its i-Art pressure sensors to Volvo Drive-E engines. Such innovations in diesel fuel injectors are expected to drive the growth of the market.
“Factors such as the rising adoption of alternative fuel vehicles, and the increased focus on remanufactured fuel injectors will have a significant impact on the growth of the automotive fuel injector market value during the forecast period,” says a senior analyst at Technavio.
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Automotive Fuel Injector Market: Segmentation Analysis
This market research report segments the automotive fuel injector market by geography (APAC, Europe, North America, South America, and MEA) and application (passenger vehicle and commercial vehicle).
The APAC region led the automotive fuel injector market in 2019, followed by Europe, North America, South America, and MEA respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as the presence of a large automotive production base, improvement in the standard of living and an increase in disposable income, which are driving the demand for automotive in the region.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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