Automotive Fuel Injectors Market Trends, Revenue Share & Opportunity Status Analyzed during 2018-2028
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Tier 1 Companies Account for Nearly 40% Share of the Overall Automotive Fuel Injectors Market
Automotive sector has been witnessing significant growth since the past few years. Tier 1 companies account for a 40% revenue share of the overall automotive fuel injectors market. Of these, top 6 companies such as Robert Bosch GmbH, Denso Corporation, Delphi Technologies PLC, Continental AG, Hitachi Automotive Systems Ltd., and Federal-Mogul Corporation collectively account for around 50% share in tier 1 range in the automotive fuel injectors market.
New product launches, facility expansions and strategic acquisitions in the automotive fuel injectors marketplace have been a major focus of these companies. Top 6 companies have been relying on joint ventures, especially in emerging economies in a bid to grasp new opportunities. For instance, Federal-Mogul Corporation is largely investing in India and has entered into new joint ventures, one in China and another in Thailand, especially focusing on aftermarket for automotive fuel injectors. These ventures are in line with the company’s growth strategy for its expansion in Asia Pacific.
Emission norms initiated by regulatory bodies and governments across various countries continue to impact the automotive fuel injectors space. Manufacturers of automotive fuel injectors, in compliance with emission norms are focused on developing advanced injectors for vehicles. For instance, China released the China VI emission standards, particularly for heavy-duty vehicles, which is more stringent than the Euro VI emission standards.
The BS-VI norm was initiated by the Petroleum Ministry of India in a bid to reduce air pollution in the country. Against this backdrop, manufacturers of automotive fuel injectors have been focused on developing to meet 2019.2020 BS-VI norms via electronic automotive fuel injectors. For instance, Stanadyne LLC developed gasoline automotive fuel injectors that are economical and facilitate reduced emissions.
Manufacturers of automotive fuel injectors are also venturing into developing automotive fuel injectors for CNG engines for passenger cars, such as Delphi’s DI-CNG automotive fuel injectors.
Growing Automotive Sales Fueling Automotive Fuel Injectors Demand
The prospects of automotive fuel injectors are directly linked to the growth of the automotive industry. Growth in vehicle sales can be directly associated with vehicle production, which has been on an upswing, particularly across emerging economies. According to European Automobile Manufacturers Association (ACEA) vehicle production in China was maximum in 2017, accounting for a 30 percent share of the overall vehicle production, followed by EU that stood at 24 percent. Moreover, increasing sales of passenger cars and commercial vehicles are expected to augur well for the growth of the automotive fuel injectors market. OICA reveals that the global vehicle production (passenger and commercial vehicles) grew by 2,325,965 (+2.36%) units in 2017 over 2016 and the rate is expected to increase in the coming years. This factor continues to remain a key influencer of growth for automotive fuel injectors market.
Rising Adoption of Electric Vehicles to Impact Sales of Automotive Fuel Injectors
Government regulations regarding carbon dioxide emissions from vehicles in order to reduce environmental damage has translated into growing production and adoption of electric vehicles worldwide. According to IEA (International Energy Agency), in 2017, over one million electric vehicles were sold. Under International Energy Agency New Policies Scenario, sales of electric vehicles are expected to touch 125 million by 2030.
Sales of automotive fuel injectors are likely to face challenges with the introduction and use of BEVs (Battery Electric Vehicles) and PHEVs (Plug-in Hybrid Electric Vehicles), particularly in the developed countries. This factor remains a key challenge for the growth of the automotive fuel injectors market.
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