Press release
Automotive Fuel System Market Predicted to Grow at a Moderate Pace Through 2016 - 2026
In the past few years, government norms pertaining to emission reductions has become stringent, which in turn has forced the manufacturers to opt for technologies to reduce emissions. It has been observed that, many automobile companies all over the world are using automotive fuel system for improving efficiency and to reduce pollution. Growing automotive industry is expected to be the major reason for the rise in demand for automotive fuel systems.
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A fuel storage tank, pump, filter, and injectors or a carburetor are included in the automotive fuel system. Now a days maximum vehicles are powered by gasoline or diesel fuel. Fuel vehicles have two separate fuel systems. One fuel system is made in such a way that it runs on gasoline. The other fuel system is designed for running in CNG (compressed natural gas) or LPG. LPG is the more popular in this category. Automotive fuel system is also used in the hybrid vehicles.
A combination of conventional fuel and electric power are used in the hybrid vehicles. Most of the time gasoline plays the role of primary power source and the electric motor is used for the assistance for higher speed. In addition to this, its competitive advantages such as high power output and efficiency is influencing the automobile manufacturers to use the automotive fuel system. It has been noticed that the automotive fuel system is being used by the maximum automobiles companies because the initial cost of that particular system is less. In line with this, the revenue generated from sales of global automotive fuel system is expected to increase at a higher pace between 2016 and 2026.
Global Automotive Fuel System Market Dynamics:
As mentioned earlier, the global automotive fuel system market is anticipated to be driven by its competitive advantages such as high power output, fuel efficiency, emissions performance, less maintenance and reliability. Growing preference for light weight vehicles is expected to drive the global automotive fuel system market. In addition to this, the increasing population coupled with rising disposable income is anticipated to boost the demand for automotive fuel system, thus increasing the automotive fuel system market. Stringent government norms pertaining to reducing the hazardous emissions is expected to fuel the global automotive fuel system market. The companies are focusing on research & development and product innovation in order to retain their market share in the global automotive fuel system market.
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Global Automotive Fuel System Market Players:
Some of the major players identified across the value chain of the automotive fuel system market includes continental AG, Delphi automotive PLC, Denso Corporation, Robert bosch, Hitachi limited, Aisin group, Borg warner INC, Cummins, INC, Denso corporation, Exide technologies, Honeywell international INC.
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