ID: MRFR/AM/4809-HCR | 100 Pages | Published By Sejal Akre on March 2023
Automotive Flex Fuel Engine Market Size is expected to cross USD $37 Billion by 2030 at a CAGR of 6% during the forecast period 2022-2030
The automotive flex-fuel engine market value is likely to enhance during the current forecast period of 2022-2030. During the period, the market operations are expected to enhance and expand at a CAGR of 6%. In 2021, the market is growing at a steady rate and the market trends show that there has been a rise in the adoption of strategies by the prominent market players and is expected to rise over the projected horizon.
A flexible-fuel engine or the dual-fuel engine is known as the flex-fuel engine in general. This engine has been designed in a way to operate on two different fuels within the same tank. These engines are designed to run on more than a single fuel such as gasoline or diesel and there are no storage issues as such.
COVID 19 Analysis
The automotive flex engine market size is one of the affected ones since the pandemic has hit the lives of people and further, entered the production and manufacturing chains of various markets across the globe. Due to the emergence of the pandemic with a high positivity rate, the markets have been witnessing major functional problems and restraints brought in by the lack of skilled labor, raw materials, and resources. Also, the rising prices of fuel like petroleum and diesel is a matter of concern for the target audience that belongs to different income groups.
However, the global governments are rising their interventions to help the markets cover the losses that occurred due to the pandemic. The need of the hour is to stimulate a high demand degree by giving rise to profitable market trends. This is possible with the help of investment in the research and development departments that help in producing and introducing various products and services in the global market scenario during the forecast period that will be ending in 2030.
The most prominent major key players in the automotive flex-fuel engine market all across the globe are mentioned below:
These major key players use various strategies to sustain their market position in the automotive flex-fuel engine market in the global market by going for mergers, and acquisitions, by collaborating, setting up a new joint venture, establishing a partnership, developing a new product line, innovation in the existing product, developing a unique production process, and many others to expand their customer base in the untapped market of the automotive flex fuel engine market all across the globe.
In the past scenario, most of the global countries relied on the import of various kinds of fuel for functioning but with the passage of time and optimal use of resources, the dependence on import oil has reduced to a great extent. Also, the market is witnessing a surge in awareness regarding the judicious use of oil and the fear of rising prices associated with it as it is a natural resource. All these factors are likely to enhance the growth scope available to the market and grow at an excellent potential during the forecast period that will end in 2030.
There has been a substantial rise witnessed regarding the huge cost associated with the production, perseverance, and use of ethanol. This fact is one of the major challenges that are posing issues for the market on the way to its growth during the forecast period that ends in 2030.
The technological advancements in the market are playing a critical role to help the market dwell during the ongoing forecast period. Second-generation ethanol is rising to a great extent and gaining a lot of popularity in the FFVs. also, the technological investments are reaping great results that are enhancing the quality of product availability that will help in prioritizing the customers’ choices that will help in expanding their base in the market.
The automotive flex fuel engine market has been divided all across the globe based on engine capacity, fuel type, vehicle type, region.
Based on the Engine Capacity
The market has been divided all across the globe based on the engine capacity into full-size engine capacity and compact size engine capacity.
Based on the Fuel Type
The market has been divided all across the globe based on the fuel type into diesel type and gasoline type.
Based on the Vehicle Type
The market has been divided all across the globe based on the vehicle type into commercial vehicle type and passenger car type.
Based on the Region
The market has been divided worldwide based on the region into the North American region, Asia-Pacific region, European region, Latin American region, and the Middle East and African region.
The automotive flex-fuel market has been divided all across the globe based on the region into North American region, European region, Asia-Pacific region, Latin American region, and the Middle East and African region. The largest market share in the global market is held by the North American region owing to the presence of countries like the US, Canada, and Mexico that drives the market demand in this region. Moreover, the increasing demand for fuel-efficient vehicles coupled with higher per capita income creates more market demand.
Being the fastest-emerging region, the second-largest market share in the global market is held by the Asia-Pacific region owing to the presence of highly populous countries like India, China, Australia, and various other countries that drive the market demand in this region. Moreover, increasing investment coupled with increasing production of high-end and luxury vehicles is another factor that generates more market demand.
The third-largest market share in the global market is held by the European region owing to the presence of a well-established technologically advanced infrastructure that creates more market demand for automotive vehicles in this region. Increasing investment done by various major key players is yet another factor that drives the market demand in this region.
The Latin American region and the Middle East and African region show the least market share due to the presence of low infrastructure in both these regions. Low per capita income is another contributing factor that restricts the market growth in these regions.
This global automotive flex-fuel engine market research report consists of the following components mentioned below:
This market research report contains factors that drive the growth of the automotive flex fuel engine market in the global market and the factors that restrict its growth in the global market. The technical analysis in the global market during the forecasted period is mentioned. The impact of the COVID 19 on the automotive flex-fuel engine market in the global market is mentioned. The future growth rate in the automotive flex-fuel engine market during the review period is estimated and mentioned.
|Market Size||2030 : Significant Value|
|CAGR||6 % CAGR (2022 to 2030)|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|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||
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).