China’s booming automotive market is driven by consumer demand and government support, while Japan focuses on fuel efficiency.
NEWARK, Del, Oct. 09, 2023 (GLOBE NEWSWIRE) — The global automotive fuel delivery system market valuation will be US$ 9,713.0 million in 2023. The market demand is projected to reach US$ 18,232.7 million by 2033. The global market is anticipated to register a CAGR of 6.5% during the forecast period.
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Trends in the Automotive Fuel Delivery System Market
Various trends influence the global market. A few of these trends are as follows.
- The Popularity of Electrification and Hybridization: Automakers developing hybrid models with high-voltage components are rapidly increasing the adoption of electric fuel delivery systems with advanced features. Consumers consider these vehicles more attractive, increasing global market sales.
- Fuel Injection Technology: The increasing demand for fuel consumption and better mileage is increasing the demand for automotive fuel delivery systems. These systems enhance fuel efficiency and limit carbon footprints. The popularity of gasoline fuel is growing among consumers for improving vehicle performance.
- Emission Reduction Technologies: The manufacturers are seeking new technologies to limit toxicity, increasing the demand for automotive fuel delivery systems. These systems are integrated to reduce hazardous chemicals with particular filters and exhaust gas recirculation in vehicles.
- Lightweight Materials: Manufacturers are adopting low-weight automotive materials such as aluminum to promote efficiency without compromising quality.
- Digitalization and Connectivity: The growing adoption of real-time monitoring and advanced sensors is increasing the demand for automotive fuel delivery systems. Manufacturers are connecting these features to enhance consumers’ experiences.
- Consumer’s Choice: The increasing demand for high-performance vehicles is accelerating the demand for automotive fuel delivery systems. These systems increase power and torque in the vehicles.
- Sustainability and Renewable Fuels: Manufacturers and key companies concerned with environmental impacts promote renewable and eco-friendly fuels such as biofuels. A fuel delivery system is designed to enhance sustainability.
“Key manufacturers in the global market are adopting several policies to reduce carbon emissions due to the growing concerns about air pollution. They emphasize developing advanced automotive fuel delivery systems with emission reduction technologies.” Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.).
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Key Takeaways from the Automotive Fuel Delivery System Market Report
- The automotive fuel delivery system market is expected to register a CAGR of 6.5% from 2023 to 2033.
- The United States market is expected to expand at a CAGR of 3.4% through 2033.
- The market in Japan is anticipated to capture a CAGR of 4% during the forecast period.
- Sales of automotive fuel delivery systems in the United Kingdom are expected to grow at a CAGR of 3% over the projection period.
- The market in Germany is anticipated to rise at a CAGR of 2.6% through 2033.
- Passenger cars lead the global market by vehicle type in 2023.
Key Players in the Global Automotive Fuel Delivery System Market
The global landscape is highly competitive, with many companies entering the market. The growing investments in research and development bring new ideas and innovations, expanding the market. Major players invest heavily in these activities to develop improved, cost-effective automotive components that satisfy consumers’ demands.
Key players are considered game-changers as they possess the skills and expertise required for market expansion. They focus on their goals to cater to consumer needs and expectations. These players adopt various marketing methodologies to increase their revenue share, including collaborations, mergers, and product innovations.
Key Companies
- Aisin Corp.
- BorgWarner Inc.
- Continental AG
- DENSO Corp.
- Hitachi Ltd.
- Landi Renzo Spa
- Magna International Inc.
- Marelli Holdings Co. Ltd.
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Key Segments in the Global Automotive Fuel Delivery System Market
By Vehicle Type
- Passenger Cars
- Commercial Vehicles
By Fuel Type
- Gasoline
- Diesel
- Other
By Region
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan
- Japan
- Middle East & Africa
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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