Automotive Air Intake Manifold Market Size to Register USD 51 Billion During the Period 2017-2024
Increasing vehicle production will primarily drive the Automotive Air Intake Manifold Market over the forecast timeframe. As per OICA, global automobile production crossed 94 million units in 2016 registering over 5% growth as compared to production in 2015. Passenger vehicle production contribution was more than 70% with more than 60 million units produced.
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Automotive Air Intake Manifold Market is estimated to surpass USD 51 Billion by 2024; according to a new research report.
Increasing demand of passenger vehicles will stimulate the industry demand in emerging economies such as Indonesia, China, and India. Steadily improving world economy is encouraging the international trade. This is resulting in increasing international & national freight transportation across the globe driving the demand for heavy commercial vehicles.
Moreover, stringent government regulations for reducing vehicle emission is affecting the automotive air intake manifold market growth. Environment management authorities have enforced low CO2 emission levels from vehicles along with various fuel conservation policies. This has forced the automotive OEMs to enhance the quality of intake manifolds, thus escalating the industry growth.
Technological advancements such as rising heat resistance and integration of charge air coolers in air intake manifold are increasing growth prospects to the automotive air intake manifold market. Manufacturers are focusing on reducing the engine weight thereby reducing the friction. Reduced friction results in less power consumed which results in increasing fuel efficiency of the vehicle. These technological advancements will support the manufactures to comply with the energy efficiency regulations.
Significant overhead expenses on the manifolds including replacement & repair cost are limiting the product adoption. Also, rising electric vehicle sales & PHEV sales will hamper the sales of fuel powered vehicles which will also affect the air intake manifold market.
Air intake manifold revenue from HCVs crossed USD 3.4 billion in 2016 and is estimated to grow with 5.6% CAGR during the forecast period. Increasing use of commercial vehicles for goods & commodity transportation is driving the heavy commercial vehicle segment. In 2016, the sale of medium & heavy commercial vehicle in U.S. increased by nearly 10% than the previous year.
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In 2016, the heavy commercial sales in India grew by more than 25% owing to infrastructure expansion and increasing FDIs in infrastructural developments in the country. Increasing demand for HCVs will stimulate the demand of air intake manifold in coming years.
The LCV is estimated to exhibit 5.3% CAGR during the forecast period. The growth in LCVs is attributed to the increasing online business which results in increasing courier, express and packages services. In Germany, the turnover of LCVs for the year 2015 grew by 4% to nearly 244,000 units.
Aluminum dominated the air intake manifold market as use of aluminum in manifolds ensures high strength and reduce the weight of the product. The revenue from aluminum segment crossed USD 13 billion in 2016 and will exhibit 5% CAGR during the forecast timeframe. Magnesium is estimated to grow with highest CAGR owing to its superior features than the other alternatives. However, the high price of magnesium may limit the product adoption.
EFI air intake manifold contributed more than 17% of the total market revenue and is projected to show highest growth rate owing to increasing adoption of the system in automobile engine systems. Dual plane manifolds dominated the make acquiring nearly 59% of volume share in 2016.
Casting accounted for more than 44% of the total revenue in 2016 and is projected to show more than 5% CAGR during the forecast period. Adequate packaging & protection, final component regulations, shipping constraints, shelf life of protective coatings, and weights play major role in casting process. Injection molding is estimated to surpass the casting owing to its mass production efficiency for small & medium d complex components including air intake manifold.
Aftermarket for automotive air intake manifold accounted for over USD 6 billion in 2016 and is anticipated to show highest growth during the study timeframe. Aftermarket industry depends upon customer preference towards quality and cost of product. The aftermarket product is slightly less expensive compared to OEM. Moreover, tie-ups with retail outlets and regional manufacture are expected to drive the industry growth.
Automotive air intake manifold manufacturers include MANN+HUMMEL, Magneti Marelli, Donaldson, Rochling Group, and MAHLE. Major strategies adopted by the players are collaborations and partnerships to increase customer base. Industry participants are mostly forward integrated involving manufacturing and distribution of the product. The manufacturers are focusing on technological developments.
Automotive air intake manifold aftermarket has witnessed significant growth owing to quality products at less cost than OEMs and increasing trend of do it yourself (DIY) activities. Launch of innovative products help aftermarket players to drive the product sales globally. Holly and Edelbrock are the major aftermarket companies for the automotive air intake manifold market.
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Related Reports: -
Global Automotive Air Intake Manifold Market Research Report 2017
This report studies the Automotive Air Intake Manifold market status and outlook of global and major regions, from angles of manufacturers, regions, product types and end industries; this report analy...
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