Flex Fuel Engine Market New Industry Research On Present State & Future Growth Prospects to 2030

According to a recent report published by Allied Market Research, titled, "Flex Fuel Engine Market by Fuel Type, Vehicle Type, and Blend Type: Global Opportunity Analysis and Industry Forecast, 2020-2030," The global flex fuel engine market was valued at $63.21 billion in 2020, and is projected to reach $105.11 billion by 2030, registering a CAGR of 5.6%.

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Drivers, restraints, and opportunities

Depleting fossil-fuel reserves and strict environmental regulations and vehicle emission norms drive the growth of the global flex fuel engine market. However, engine demand concerns, development of electric and hybrid electric vehicles, and lack of flex-fuel stations hinder the market growth. On the contrary, rise in adoption of sustainable automotive technologies and surge in automotive performance on higher ethanol blends are expected to open new opportunities for the market players in the future.

Flex-fuel engines are utilized to lower vehicle emissions, while reducing dependence on foreign oils. Flex-fuel engines come in a variety of shapes and sizes, as well as for a variety of blended fuel applications. Flex-fuel engines can run on a mix of gasoline and other fuels. The growth in commercial vehicle fleet, expansion in transportation infrastructure, tightened government regulations, and rise in global automobile production have all contributed to a significant increase in flex-fuel engine production in recent years.

The rest of the world dominates the market in terms of revenue, followed by North America, Europe, and Asia-Pacific. Owing to several initiatives implemented by the Brazilian government to promote the use of flex-fuel vehicles, Brazil led the global flex-fuel engine market share in 2020 and its market share is predicted to increase at a substantial rate during the forecast period.

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Based on changing customer preferences, the leading automobile manufacturers are focused on flex-fuel engine development, which improves the outlook of the global flex-fuel engine market. Automotive manufacturers have designed flex-fuel engines to detect ethanol mixes in fuel and modify combustion accordingly. Furthermore, the surge in global awareness of the need to reduce pollution drives demand for flex-fuel engines.

The factors, such as stringent environmental regulations, vehicle emission norms, and depleting fossil-fuel reserves are expected to drive the flex-fuel engine market. However, engine damage concerns, scarcity of flex-fuel stations, and development of electric & hybrid electric vehicles are the factors anticipated to restrict the growth of the market during the forecast period. Moreover, rise in adoption of sustainable automotive technologies and increased automotive performances on higher ethanol blends across the world are the factors projected to supplement the flex-fuel engine market's growth in the coming years.

The key players profiled in the flex fuel engine market report are Cummins Inc., Ford Motor Company, Volkswagen AG, Fiat Chrysler Automobiles, General Motors Company, Honda Motor Co., Ltd., Mitsubishi Motors Corporation, Nissan Motor Co., Ltd., Toyota Motor Corporation, and AB Volvo.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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