Flex fuel engines are witnessing a rapid uptake owing to their superior function features. The fact that they can run on two different fuels puts they into a special category. The automotive industry remains under the pressure to reduce reliance of fossil fuels engines. As a result, significant emphasis is being placed on automotive technologies that allow to reach a higher level of energy-efficiency. Such industry trends are reflecting favourably on the global automotive flex fuel engine market.
Flex-fuel engines are also gaining momentum due to the increased focus on consumer convenience – owing car that can run on both diesel and petrol can be of supreme convenience. From the manufacturing point of view, development of fuel-efficient engines remains the primary goal. Meanwhile, automotive are adopting such engine systems it gives additional marketing capacity for their product.
More technological development can be expected in flex fuel engines in the years to come. Product innovation and development fuel efficient engine remains key industry trend, which also influencing flex fuel engine segment. The global automotive flex fuel engine market is expected to be influenced by factors such as stricter environmental regulation, depleting fossil fuel reserves and increased concerns over CO2 emission. Moreover, latest variants of flex fuel engine are compatible to some of the upcoming non-conventional fuels such as second-generation ethanol. Nevertheless, the high cost of production along with high initial investment in setting up manufacturing facilities remain a major entry barrier for small-sized OEMs.
Global Automotive Flex Fuel Engine Market: Segmental Analysis
The segmental analysis of the market has been conducted based on engine capacity, fuel type, and vehicle type.
On the basis of engine capacity, the market has been segmented into full-size and compact. On the basis of fuel type, the market has been segmented into diesel and gasoline. On the basis of vehicle type, the market has been segmented into commercial and passenger car.
Global Automotive Flex Fuel Engine Market: Regional Analysis
Based on region, the market has been segmented into Asia Pacific (APAC), North America, Europe and rest of the world (RoW). North America is expected to remain a highly attractive market for automotive flex fuel engine. Countries such as the US, Mexico and Canada represent significant opportunities to market players operating in the region. Rapid inclination towards fuel-efficient vehicle in these countries is having a major impact on the region’s market. Faster access to new-age engine technologies is a plus point for the North America automotive sector. Over the years, the number flex fuel engine has increase substantially. Realising the market potential, more and more companies are entering the fray.
Asia Pacific (APAC) is the second largest market for automotive flex fuel engine. The exponential growth of the automotive industry in the region is the key force behind the market growth in APAC. At the same time, there has been a significant uptick in the sale of commercial and passenger cars in the region. Macroeconomic factors such as rising standard of living, increased disposable income and urbanization have had dramatic influenced the APAC automotive sector. Foreign-based car manufacturers have setup are shifting their manufacturing facilities in region owing to cost-benefits, which also supporting the market growth in APAC. In addition, China’s growing dominance over automotive manufacturing make the APAC a key destination for market players.
Global Automotive Flex Fuel Engine Market: Competition Analysis
Some of prominent market participants covered in MRFR’s report include Volkswagen (Germany), Honda Motor Co. Ltd. (Japan), Nissan Motor Co. Ltd. (Japan), Fiat Chrysler Automobiles (UK), Mitsubishi Motors Corporation (Japan), Ford Motor Company (US), AUDI (Germany), Toyota Motor Corpoaration (Japan), General Motors Company (US) and Volvo Cars (Sweden).