Automotive Fuel Systems Market Analysis | 2020-2025

Market Insights

The automotive fuel systems market was estimated at USD 13.8 billion in 2019 and is likely to grow at a CAGR of 7.7% during 2020-2025 to reach USD 15.8 billion in 2025.

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Market Dynamics

Introduction

Automotive fuel systems are one of the primary components of almost all fuel-driven vehicles. These systems store, deliver, and manage the fuel supply that powers any vehicle’s engine. The primary components of an automotive fuel system include the fuel tank, fuel pump, fuel lines, fuel filter, fuel injectors or carburetor, and the engine control unit. Automotive fuel systems can be designed for different fuel types, including gasoline, diesel, ethanol, and hybrid or electric powertrains.

COVID-19 Impact

Automotive is among the industries that are adversely affected by economic conditions and consumer behavior. Automotive manufacturing plumped by -22% YoY in 2019-2020 due to the COVID-19 outbreak. With the receding of the pandemic from 2021 onwards, the automotive fuel systems market witnessed recovery.

Market Drivers

The major factors driving the growth of the global automotive fuel systems market are driven by several factors, including:

• There is an increasing focus on reducing fuel consumption and emissions.
• Governments around the world are imposing stringent regulations on vehicle manufacturers to reduce emissions and improve fuel economy.
• The rising popularity of alternative fuels such as ethanol, biofuels, and natural gas.
• Technological advancements such as electronic fuel injection systems, offer better performance and fuel efficiency.
• The growing automotive industry, particularly in emerging economies.
• Increasing consumer awareness, etc.

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Key Players

The supply chain of this market comprises raw material suppliers, automotive component manufacturers, automotive fuel systems manufacturers, and automotive OEMs.

The key automotive fuel systems manufacturers are-

• Plastic Omnium
• TI Fluid Systems
• KAUTEX TEXTRON GMBH & CO. KG
• YAPP Automotive Systems Co., Ltd.
• FTS CO., LTD.
• Donghee Industrial Co. Ltd.
• Yachiyo Industry Co., Ltd.

Note: The above list does not necessarily include all the top players in the market.

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Segments Analysis

By Vehicle Type

Stratview Research has firstly segmented the automotive fuel systems market based on the vehicle type as a passenger car, LCV, and M&HCV. Passenger car is expected to remain the largest segment of the market over the next five years. Increasing disposable income, increasing motorization rate, and reasonably higher production of passenger cars than commercial vehicles are the key whys and wherefores behind its dominance among all vehicle types. SUV is the most attractive body type sub-segment in the passenger car category.

By Component Type

Based on the component type, the automotive fuel systems market is segmented as fuel pumps, fuel tanks, fuel pressure regulators, and others. The fuel pump is estimated to maintain its dominance in the market in the years to come, whereas the fuel tank is likely to witness the fastest recovery in the market. There has been a stupendous shift from traditional steel fuel tanks to plastic tanks in the past few decades. This trend is likely to maintain in the years to come, especially in the emerging Asian economies where there is a long road to saturation.

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By Fuel Type

Based on the fuel type, the market is segmented as gasoline, diesel, and hybrid. The gasoline fuel system is likely to maintain its dominance during the forecast period, whereas the hybrid fuel system is expected to grow at the highest rate during the same period. Stringent emission standards by the governments of various countries regarding fuel emissions are likely to substantiate the demand for hybrid vehicles at an excellent rate. Fuel systems designed for hybrid vehicles are more advanced and require withstanding high-pressure environments.

Regional Insights

In terms of regions, Asia-Pacific is expected to remain the largest market over the next five years. China, Japan, and India are the leading markets in the region. The Chinese automotive industry is witnessing a speedy recovery after the control of the COVID-19 outbreak. Japan and South Korea have also been recovering with the resumption of production of OEMs and tier players. There is also an incessant shift from steel fuel tanks to plastic fuel tanks in the region.

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Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects automotive fuel systems market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s automotive fuel systems market realities and future market possibilities for the forecast period of 2020 to 2025. After a continuous interest in our automotive air intake manifold, automotive fuel injection systems, and automotive ducts market report, we have come up with another comprehensive study on the Automotive Fuel Systems Market.

The report estimates the short- as well as long-term repercussions of the COVID-19 pandemic on the demand for fuel systems at the global, regional, as well as country level. Also, the report provides the possible loss that the market participants will endure by comparing the pre-COVID and post-COVID scenarios. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of low-hanging fruits available in the market as well as formulating growth strategies.

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The automotive fuel systems market is segmented into the following categories:

By Vehicle Type

• Passenger Car
• LCV
• M&CV

By Component Type

• Fuel Pump
• Fuel Tank
• Fuel Pressure Regulator
• Others

By Fuel Type

• Gasoline
• Diesel
• Hybrid

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Italy, Russia, and the Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, South Korea, India, and the Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Argentina, and Others)

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Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segment

• Current Market Size (2019) of the automotive fuel tank by material type (steel vs. plastic).

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, and regional presence.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.