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The automotive fuel injector market share is expected to increase by USD 9.64 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 2%.
This automotive fuel injector market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers automotive fuel injector market segmentations by application (passenger vehicle and commercial vehicle) and geography (APAC, Europe, North America, and South America). The automotive fuel injector market report also offers information on several market vendors, including Aptiv Plc, Carter Fuel Systems LLC, Continental AG, DENSO Corp., EDELBROCK LLC, Hitachi Ltd., Infineon Technologies AG, Keihin Corp., Magneti Marelli CK Holdings Co. Ltd., and Robert Bosch GmbH among others.
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The increasing demand from ic engine vehicles is notably driving the automotive fuel injector market growth, although factors such as slowdown in automobile manufacturing may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive fuel injector industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Automotive Fuel Injector Market Driver
The increasing demand from IC engine vehicles is a major factor driving the global automotive fuel injector market share growth. 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, thereby driving the demand for IC engine vehicles. Countries such as the US and China are the largest markets for automobiles and still mainly use gasoline-powered vehicles. The increasing demand for sport utility vehicles is also a major factor driving the sales of gasoline-powered cars in China. The increase in demand for SUVs can be primarily 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. The introduction of low-cost compact and mini SUVs also drives the demand for SUVs. Apart from SUVs, pickup trucks also witnessed positive year-over-year growth and registered an increase of 2% in H1 2019 compared with H2 2018. Therefore, the increase in demand for SUVs will concurrently generate the demand for IC engines and fuel injection systems during the forecast period.
Key Automotive Fuel Injector Market Trend
The innovation in diesel fuel injectors is another factor supporting the global automotive fuel injectors market share growth. Technological advances and greater use of electronics have improved the efficiency of fuel injection technology. Also, the stringent vehicular emissions standards have resulted in a greater need for monitoring 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. Due to such reasons, the market will continue to grow during the forecast period.
Key Automotive Fuel Injector Market Challenge
The slowdown in automobile manufacturing will be a major challenge for the global automotive fuel injectors market share growth during the forecast period. The adoption of shared mobility solutions is increasing globally. The wide availability of shared mobility service providers, high internet penetration, and increasing adoption of smartphones are paving the way for the mass adoption of shared mobility solutions. Factors such as the ease of accessing shared mobility solutions, an increase in fuel price, and the rise in the price of vehicles are driving consumers to prefer vehicle usership over ownership. This has had an adverse impact on the demand for vehicles. High motorization rates in North America and Europe, the increase in tariffs on imported vehicles in the US and China, and the global economic slowdown are likely to reduce vehicle sales in the coming years. Considering the decline in vehicle sales, several vehicle manufacturers are halting vehicle production. Such halts in vehicle production ahead of the decline in sales has adversely impacted the demand for associated components such as automotive fuel injector.
This automotive fuel injector market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global automotive fuel injector market as a part of the global automotive components and accessories market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the automotive fuel injector market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the automotive fuel injector market encompasses successful business strategies deployed by the key vendors. The automotive fuel injector market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The automotive fuel injector market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the automotive fuel injector market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of global automotive components and accessories market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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