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 scenario. 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 formulate growth strategies.
Automotive Fuel Systems Market: Highlights
Automotive is among the industries which are adversely affected by economic conditions and consumer behavior. The year 2019 had brought a downturn in new vehicle production in various parts of the world including key markets such as Germany, China, and India. The industry was hoping a revive in the year 2020 to fulfill the gap of 2019, but the outbreak of COVID-19 shattered the hopes of the industry and is creating a worrisome situation for the industry stakeholders with its prolonged impact across regions. The automotive fuel systems market is on exception and is likely to register an almost a similar pattern with new vehicle production.
The downturn of COVID-19 pandemic has created a lot of distressed in the automotive industry, graver than that caused by The Great Recession (2008-2009) (Automotive production’s plummet during the Great Recession: -12.1% YoY 2008-2009 and The Great Lockdown: -22% YoY 2019-2020). Across the world, the economy is shrinking, leading to mass cutoffs in jobs across industry verticals, affecting the purchasing power of consumers, a clear sign of lower demand for new vehicles. Loss of confidence of households and businesses amid the COVD-19 crisis are already witnessed in various countries, resulting in the change in consumer behavior for new vehicle purchases, devitalizing the automotive industry consequentially.
Currently, assessing the real impact of the pandemic on the automotive fuel systems market in the short-term as well as the long-term is a challenging endeavor. The pandemic has taken all major economies in its grip, deteriorating the market conditions with the automotive industry being one of the biggest victims of it. It is difficult to state that when the pandemic would start to fade away. However, based on interviews conducted with the leading market stakeholders coupled with the past industry trends (The Great Recession) suggest that the automotive fuel systems market is likely to witness recovery from 2021 onwards, with automotive fuel systems sales reaching close to US$ 16-billion-mark in 2025.
Stratview Research has firstly segmented the automotive fuel systems market based on the vehicle type as 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.
Based on the component type, the automotive fuel systems market is segmented as fuel pump, fuel tank, fuel pressure regulator, and others. Fuel pump is estimated to maintain its dominance in the market in the years to come, whereas 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 for saturation.
Based on the fuel type, the market is segmented as gasoline, diesel, and hybrid. Gasoline fuel system is likely to maintain its dominance during the forecast period, whereas 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.
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.
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., and Yachiyo Industry Co., Ltd.
Research Methodology
This report offers high-quality insights and is the outcome of 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 book, press release, journals, investor presentation, white papers, patents, and articles, have been leveraged to gather the data. More than 15 detailed primary interviews with the market players across the value chain in all major regions and industry experts have been executed to obtain both qualitative and quantitative insights.
Report Features
This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the 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 forecast analysis
- Market segment forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
The automotive fuel systems market is segmented into the following categories.
Automotive Fuel Systems Market, By Vehicle Type
- Passenger Car (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- LCV (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- M&CV (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Automotive Fuel Systems Market, By Component Type
- Fuel Pump (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Fuel Tank (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Fuel Pressure Regulator (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Automotive Fuel Systems Market, By Fuel Type
- Gasoline (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Diesel (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Hybrid (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Automotive Fuel Systems Market, By Region
- North America (Country Analysis: The USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, The UK, Italy, Russia, and Rest of Europe)
- Asia-Pacific (Country Analysis: Japan, China, South Korea, India, and Rest of Asia-Pacific)
- Rest of the World (Country Analysis: Brazil, Argentina, and Others)
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 the 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 at [email protected].
