Automotive Flex Fuel Engine Industry Innovation to See Modest Growth ThroughPosted by Miller on November 26th, 2019 A flexible fuel engine or dual-fuel engine is also called flex-fuel engine that can operate on two different fuels from the same tank. Market Research Future (MRFR) has published a research report about the global automotive flex fuel engine market that infers boost for this market with 6% CAGR (Compound Annual Growth Rate) between 2018 and 2023. The major market factors driving the growth of the global automotive flex fuel engine market include the advantages of flex-fuel engines that include easy to start, flexible, fuel mixture sensor, reduced petroleum content, reduced emissions, and resource saving. Other important market drivers are advanced power systems for vehicles, cleaner alternative fuels, depleting natural sources of diesel, rising vehicle emission norms, and stringent environmental regulations. Today, the ethanol is popular in flex-fuel vehicles. However, the high production cost of ethanol can hinder the market growth. The global market has been segmented on the basis of engine capacity, fuel, vehicle type, and lastly, region. With regards to engine capacity, this market has been segmented into compact-size and full-size. The fuel-based segmentation segments the market into diesel and gasoline. By vehicle type, the market has been segmented into the commercial vehicle and passenger car. The regional segmentation of the global automotive flex fuel engine market segments the market into continent-based regional markets known as North America, Europe, Asia Pacific, and rest of the world (RoW). Being the largest regional market, North America is expected to dominate the global market share during the forecast period due to an increase in demand of fuel-efficient vehicles in countries like the United States of America (USA) and Canada. Many major market players are also based in North America, especially in the USA, aiding the market growth. The growth of the Asia Pacific market is due to the increased demand for alternatives, increase in the production of luxury and high-end vehicles, and the increase in investment regarding flex fuel engine technology by vehicle manufacturers. In China, and some other Asian countries, the demand for passenger vehicles is increasing. Other most important country-specific markets in this region are India, and Japan, followed by the rest of the Asia Pacific region. In Europe, the market is strong due to the high density of population, a technological advancement that is second only to North America, and the presence of some key market players. The significant market players in this region are France, Germany, Italy, and the United Kingdom (UK). In the RoW segment, due to the lack of technology, the market is slow during the forecast period in countries of regions like Africa. Key Players The key players in the global automotive flex fuel engine market include AUDI (Germany), Fiat Chrysler Automobiles (UK), Ford Motor Company (USA), General Motors Company (USA), Honda Motor Co. Ltd. (Japan), Mitsubishi Motors Corporation (Japan), Nissan Motor Co. Ltd. (Japan), Toyota Motor Corporation (Japan), Volkswagen (Germany), and Volvo Cars (Sweden). Latest Industry News
Like it? Share it! More by this author |