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The global automotive fuel injection system market was valued at $59.6 billion in 2015, and is forecast to reach $101.5 billion by 2022, growing with 7.9% CAGR during 2016–2022.
Among all regions, Asia-Pacific (APAC) was the largest contributor to the automotive fuel injection system market, with more than 50% share in terms of volume. The growth is attributed to the increasing vehicle production and strict government regulations with regards to greenhouse gas emission.
Dynamics of Automotive Fuel Injection System Market
The increasing two-wheeler market is creating growth opportunities for the manufacturers in the automotive fuel injection system market in several countries, such as India, China, and Brazil. The major two-wheeler manufacturers are investing more in the emerging markets, as the production of two-wheelers in emerging economies reduces their manufacturing cost, thereby increasing the profit margins. Although two-wheeler companies have manufacturing facilities across the globe, they are rapidly establishing new ones in emerging economies. Governments in emerging economies are attracting foreign investors by framing innovative policies and adopting programs for trade liberalization, which makes the entry for two-wheeler manufactures easy in these nations. Moreover, the demand for two-wheelers is rapidly increasing with the rising disposable income and surging urbanization in developing countries.
Stringent emission control norms are one of the key factors benefiting the automotive fuel injection system market growth. For instance, in North America, the Environmental Protection Agency (EPA) introduced emission standards for new cars and light trucks sold after 2016. With this standard, the permissible emission from a passenger car is limited to 225 grams per mile (g/mi). This limit will further come down to is 143 g/mi from 2025 onwards. Such factors are driving the market for automotive fuel injection systems across the world.
Automotive Fuel Injection System Market Segmentation Analysis
Based on vehicle type, the passenger car category held the largest share in terms of volume and value in the automotive fuel injection system market in 2015. The rising disposable income and increasing urbanization are the key growth drivers for the passenger car category in the market.
When segmented on the basis of component, fuel injector was the largest category in 2015, in the market, in terms of volume. On the other hand, engine control unit (ECU) held largest share in 2015, in terms of value.
In terms of fuel type, diesel fuel injection systems are predicted to be the faster growing category in the automotive fuel injection system market, during the forecast period. This is due to the high fuel efficiency of diesel engine, lesser greenhouse gas emissions compared with gasoline one, and subsidies on diesel oil in developing countries.
Geographical Analysis of Automotive Fuel Injection System Market
Geographically, APAC is expected to grow at the highest CAGR in the automotive fuel injection system market during the forecast period. This is due to the increased vehicle production and strict emission norms regarding emissions. APAC accounted for more than 50% of the global production of passenger cars and light commercial vehicles (LCVs) in 2015. The increasing production in the region is complimented by the intensifying demand for passenger cars and LCVs in the region.
Competitive Landscape of Automotive Fuel Injection System Market
The major players in the global automotive fuel injection system market include Continental AG, Robert Bosch GmbH, Denso Corporation, Delphi Automotive PLC, Hitachi Ltd., Magna International Inc., Mikuni Corporation, Johnson Electric Holdings Limited, and SHW AG.
Recent Strategic Developments of Major Automotive Fuel Injection System Market Players
In recent years, the players in the automotive fuel injection system market have been involved in strategic development activities such as product launches. For instance, in June 2016, Robert Bosch GmbH, a global supplier for automotive components to original manufacturers (OEM) and independent aftermarket (IAM), introduced 18 new parts for the aftermarket, which include fuel pumps, brakes, spark plugs, and rotating machines. Bosch is also expanding its fuel pump catalog with the addition of five new fuel pumps and modules covering over 272,000 vehicles. The company has aggressive OE coverage targets and is expected to continue to expand its fuel pump offerings for OEMs quarterly.
Key Questions Addressed/Answered in the Report