ID: MRFR/AM/4809-HCR | February 2021 | Region: Global | 100 pages
Automotive flex fuel engine market is poised to mark 6% CAGR Forecast by 2027
A flexible fuel engine or dual-fuel engine is also called flex-fuel engine and can operate on two different fuels from the same tank. Flex-fuel engines are designed to run on more than one fuel, such as gasoline or diesel, which can be stored in the same tank. Flex-fuel engines are flexible, independent, resource saving and can start the engine, easily. The main advantage of flex-fuel engine is the reduced petroleum content that helps preserve existing stores of fossil fuels consumption. Flex-fuel engines have the capacity to burn any percentage of gasoline in the combustion chamber. In flex-fuel engines, spark timing and injection are regulated according to the mixture of both fuels detected by fuel mixture sensor. The vehicle manufacturers are developing new technologies such as flex start, to improve vehicle efficiency and reduce vehicle emission.
Some of the drivers of automotive flex fuel engine market are stringent environmental regulations, depleting natural sources of diesel, rising vehicle emission norms, and low-dependence on oil import. The European automakers are initiating various types of developments such as cleaner alternative fuels and advanced power systems for vehicles, which are being given priority to improve flex fuel engine efficiency. Therefore the reduced import of oil would eliminate a crucial expenditure and improve the country’s economy. Hence, countries with limited oil reserves are continuously taking initiatives to reduce oil consumption and boost the use of domestic alternative fuel. The trend in the automotive flex fuel engine market is second-generation ethanol becoming popular in flex-fuel vehicles. However, high production cost of ethanol hampers the growth of market.
The global automotive flex fuel market is segmented by engine capacity (compact-size, full-size), fuel type (gasoline, diesel), and vehicle type (passenger car, commercial vehicle) and by region.
The key players in automotive flex fuel engine market are Ford Motor Company (US), Volkswagen (Germany), General Motors Company (US), Honda Motor Co. Ltd. (Japan), and Nissan Motor Co. Ltd. (Japan). Toyota Motor Corporation (Japan), AUDI (Germany), Fiat Chrysler Automobiles (UK), Volvo Cars (Sweden), and Mitsubishi Motors Corporation (Japan) are among others.
On the basis of region, the market is segmented into North America, Asia-Pacific, Europe, and Rest of the World. North America was the market leader in the flex-fuel vehicle market in 2015 followed by Asia-Pacific and Europe. North America is expected to dominate the market in future due to an increase in demand of fuel-efficient vehicles in countries such as US and Canada. This growth of the market in Asia-Pacific can be attributed to the increase in production of luxury and high-end vehicles along with increased demand for alternatives, which has encouraged vehicle manufacturers to invest heavily in flex fuel engine technology.
The report for Global automotive flex fuel engine Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
|Market Size||2027: Significant Value|
|CAGR||6 % CAGR (2020 to 2027)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Engine, Capacity Type, Fuel Type and Vehicle Type|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Ford Motor Company (US), General Motors Company (US), Volkswagen (Germany), Honda Motor Co. Ltd. (Japan), Nissan Motor Co. Ltd. (Japan), Volvo Cars (Sweden), AUDI (Germany), Toyota Motor Corporation (Japan), Fiat Chrysler Automobiles (UK), and Mitsubishi Motors Corporation (Japan).|
|Key Market Opportunities||Depleting sources of fuel and rising environmental concerns|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The automotive flex fuel engine market is poised to mark 6% CAGR.
On the basis of engine capacity size, the segments of the automotive flex fuel engine market are compact-size engine and full-size engine.
Depleting sources of fuel and rising environmental concerns are expected to augment the automotive flex fuel engine market.
By fuel type, the segments of the automotive flex fuel engine market are diesel and gasoline.
The players of the automotive flex fuel engine market are Ford Motor Company (US), General Motors Company (US), Volkswagen (Germany), Honda Motor Co. Ltd. (Japan), Nissan Motor Co. Ltd. (Japan), Volvo Cars (Sweden), AUDI (Germany), Toyota Motor Corporation (Japan), Fiat Chrysler Automobiles (UK), and Mitsubishi Motors Corporation (Japan).