ALBANY, New York, December 19, 2018
ALBANY, New York, December 19, 2018 /PRNewswire/ --
The global automotive intake manifold market is fragmented due the presence of large number of players operating in the market. Leading players are focusing on research and development activates and expanding their product line to strengthen their position in the global market. Over the coming years, competition in the market will intensify due to strict government regulations and growing use of advanced technologies. Key players are engaging in mergers and acquisitions, collaborations, and partnerships. This will not only firm their position in the global market but it will also help them in penetrating their business in various regions. Magneti Marelli S.p.A., MAHLE GmbH, Röchling Group, Mann+Hummel Group, and Aisin Seiki Co., Ltd. are some of the key players operating in the global automotive intake manifold market.
As per Transparency Market Research, the global automotive intake manifold market is likely to exhibit a growth of 3.6% over the projected period between 2016 and 2024. The market valuation is anticipated to touch US$58.7 bn by 2024. In 2015, the market earned at US$42.7 bn.
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Depending upon material type, the aluminum is high in the market as compared to other materials. As aluminum does not add an additional weight to the final product and reduces the chance of getting rusted, making it a highly beneficial material to be used. Based on geography, the Asia Pacific held larger share in the global market. Rising investment in the automotive industry and rapid growth in technological innovation has staged the dominance of this region.
Rapid Growth in Automotive Industry to Boost Market Performance
Rapid growth in the automotive industry across the globe has boosted the demand for automotive intake manifolds. Strict government regulations and rising demand for variety of vehicles has further augmented the demand in this market. The rising economic development in emerging economies, growing GDPs, rising disposable income among the middle class, and changing lifestyle are some of the other key drivers pushing demand in the global automotive intake manifold market.
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Changes in government policies to control emission of carbon dioxide and rising concerns related to fuel conservation are likely to drive growth in this market. Moreover, fuel conservation has forced the automotive OEMs to design advanced prototypes of intake manifolds. These advanced prototype will consume fuel efficiently and minimize the discharge exhausts during combustion.
High Prices of Raw Material to Hamper Demand for Automotive Intake Manifold
Even though the demand in the automotive intake manifold market is high, few restraining factors might challenge the growth of this market. High price of raw material is the key factors hampering the growth in this market. This factor will might refrain manufactures from investing heavily as it will increase the cost end product and reduce their profit margins. Moreover, the product replacement rate is also very low further limiting the market's growth. However, increasing government intervention by imposing strict regulations might benefit the market.
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The information presented in this review is based on a TMR report, titled "Automotive Intake Manifold Market (Material - Aluminum, Plastic, and Composites; Vehicle - Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024."
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The Global Automotive Intake Manifold Market has been segmented as presented below:
Global Automotive Intake Manifold Market, by Material Type
Global Automotive Intake Manifold Market, by Vehicle Type
Global Automotive Intake Manifold Market: Geography
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