iCrowd Newswire – Jul 22, 2020
Market Research Future, in its latest study, summed evidently that the global automotive fuel injection pump market 2020, could spectate much bigger stability from the years 2017–2023. In these years, the market’s potentiality might elevate at ~7.14% CAGR, with a high market valuation. It could be the grand achievement of the market to observe the future amidst COVID 19 pandemic across the world.
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Top Impacting Factors
Automotive fuel injection pumps execute an integral function within engines and enhance its efficiency and enable a smooth run of the vehicle. The fuel injection pump in vehicles works competently, transmitting the engine performance to the vehicle engine. The automotive fuel injection pump market is primarily influenced by definite growing factors. Some of them are increasing sales of new vehicles, low emission & higher fuel efficiency, technological advancements, stringent government regulations on reducing vehicles emission and emerging economies.
The prime driving factor of the global automotive fuel injection pump market includes fast-growing population, which has resulted in surged demand for premium, as well as non-premium vehicles, across all foremost developing economies. The macroeconomic factors, such as upward urbanization & industrial activities, coupled with up-gradation of living lifestyle and a boost in demand for luxury and comfort in vehicles across many countries, is further augmenting the sales of the automotive fuel injection pump.
MRFR further digs that the noteworthy augment in the sales of vehicles, owing to better fuel efficiency and low emission control is exceedingly anticipated to motivate the global automotive fuel injection pump market. In fact, sizeable growth in the Asian & European automotive sector and technological advancement in traditional automotive fuel injection pump will create a remarkable opportunity for the global automotive fuel injection pump market in the future.
Furthermore, the expansion in the utilization of ethanol fuel in the automotive sector is highly probable to enhance the demand for automotive fuel injection pump. All the above mentioned vital influencing factors are highly anticipated to push the global automotive fuel injection pump market over the forecast period.
On the contrary, one of the restraining factors, such as mounting penetration of electric vehicles, might restrict the global automotive fuel injection pump market growth over the assessment period.
The global automotive fuel injection pump market, as per the study, is segmented over the segments such as pressure, engine type, vehicles type and type.
Based on engine type, the market has included gasoline engine and diesel engine. Among these, the gasoline engine might lead the global market.
The engine type segment, in 2016, led in terms of market revenue.
The pressure segment has included a low pressure pump and a high pressure pump.
The type segment, the market has included common rail and rotary distributor.
The vehicle type segment has included passenger vehicles and commercial vehicles. Of these, the passenger vehicles segment accounted for the highest market share in 2016 by revenue generation.
Geologically, the global automotive fuel injection pump market has covered the significant regions of North America, Europe, Asia Pacific and Rest of the World.
Among these regions, the Asia Pacific region led the global market owing to the driving factors such as rising disposable income, strict regulation on vehicle emission, and mounting new vehicle registration. During the last few years, APAC sold the highest number of vehicles, where countries such as Japan, China and Indonesia, contribute majorly. Furthermore, the increasing demand for passenger vehicles has become a foremost driving factor for the APAC region.
North America is the second leading region by revenue generation. Europe holds the third leading regional position.
The well-known players in the automotive fuel injection pump market include Denso Corporation (Japan), Continental AG (Germany), Robert Bosch (Germany), MAHLE GmbH (Germany), Delphi Automotive (UK), Infineon Technologies (Germany), Hitachi Ltd (Japan), Johnson Electric (Hong Kong), Schaeffler Group (Germany), Valeo (France), Mitsubishi Electric (Japan), and Cummins, Inc (U.S.).
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Keywords: Automotive Fuel Injection Pump Market