Tier 1 Companies Account for Nearly 40% Share of the Overall Automotive Fuel Injectors Market
[USPRwire, Thu Jul 18 2019] Automotive fuel injectors market is likely to grow at a steady pace in the long run, according to a new report by Fact.MR. The demand for automotive fuel injectors continues to remain influenced with a multitude of industry-specific and macroeconomic factors. Significant growth in the automotive sector, coupled with increasing vehicle fleet remain instrumental in driving the demand for automotive fuel injectors worldwide. Fact.MR estimates that the sales of automotive fuel injectors are expected to cross US$ 70 Bn by end of 2018.
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Sales of Automotive Fuel Injectors Concentrated in Europe; China to Showcase High Lucrativeness
Western Europe is expected to reflect significant growth apropos to sales and demand for automotive fuel injectors in 2018. Increasing automotive fleet, coupled with growing vehicle production is expected to provide potential avenues for automotive fuel injectors in the region.
Sales for automotive fuel injectors are expected to be on an upswing in China with demand projected to expand at a momentous rate in the coming years. This growth can be attributed to increasing vehicle sales in the country. In 2017, around 24 million passenger vehicles were sold in China and the rate is expected to further increase at a 4% year-on-year rate from 2018, according to CPCA (China Passenger Car Association). Further, the China automotive fuel injectors market is likely to witness growing demand for gasoline automotive fuel injectors especially for light trucks and passenger cars. With a significant shift toward GDI technology, sales of advanced automotive fuel injectors in China are expected to increase in the near future.
Shift toward fuel-efficient vehicles, coupled with strict regulatory framework is expected to influence the use of advanced automotive fuel injectors that facilitate reduction in nitrous oxide emissions. This trend has led to development of compressed natural gas automotive fuel injectors that is likely to shape the growth of the automotive fuel injectors market in the forthcoming years.
Sales of automotive fuel injectors are directly influenced by increase in average vehicle age, says the report. With advance in material and technology used in automotive manufacturing, vehicle operational age has increased substantially. In addition, customers are inclined toward maintaining their old vehicles, giving the automotive fuel injectors aftermarket a potential growth avenue. With growing vehicle age, need for repair, maintenance and replacement is likely to increase and automotive fuel injectors are no exception.
Gasoline Direct Injectors to Witness a Spike in Demand
Demand for gasoline direct injectors is projected to expand at a robust pace in the coming years. Gasoline direct automotive fuel injectors facilitate enhanced fuel consumption, reduction in carbon emissions and superior engine performance. According to the report, demand for gasoline direct automotive fuel injectors is projected to expand at rate of 6% ten years down the line. However, the sales of direct diesel injectors are estimated to surpass those of gasoline direct automotive fuel injectors, consequently accounting for a larger revenue share of the overall automotive fuel injectors market.
Sales of automotive fuel injectors among passenger cars are estimated to cross US$ 55 Bn by end of 2018. This growth can be attributed to the substantial increase in production of passenger cars on the global front. For instance, according to OICA, passenger cars manufacturing rose from 72,105,435 units in 2016 to 73,456,531 units in 2017. On the other hand, commercial vehicle production reflected an increase of 974,869 units in 2017 over 2016, relatively lower than passenger car production.
Global demand for automotive fuel injectors are estimated to increase at a significant pace with OEM sales to largely contribute to the overall automotive fuel injectors market growth. The OEM sales channel is expected to account for a higher share than aftermarket sale in the automotive fuel injectors market, says the report.
Overall the prospects for automotive fuel injectors market are likely to remain positive with global demand automotive fuel injectors expanding at a value CAGR of 5.6% throughout the period of forecast, 2018-2028.
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