Automotive Fuel Systems Market Size, Impacted by COVID-19, to Reach US$ 16 Billion in 2025, Says Stratview Research

Automotive Fuel Systems Market Size, Impacted by COVID-19, to Reach US$ 16 Billion in 2025, Says Stratview Research

PR Newswire

DETROIT, Sept. 3, 2020

DETROIT, Sept. 3, 2020 /PRNewswire/ -- Stratview Research  announces the launch of a new market research report on Automotive Fuel Systems Market by Vehicle Type (Passenger Car, LCV, and M&HCV), by Component Type (Fuel Pump, Fuel Tank, Fuel Pressure Regulator, and Others), by Fuel Type (Gasoline, Diesel, and Hybrid), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Forecast, Competitive Analysis, and Growth Opportunity: 2020-2025.

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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 reports, 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 an exception and is likely to register an almost similar pattern with new vehicle production.

The downturn of COVID-19 pandemic has created a lot of distress 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 layoff 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. 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.

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Based on the vehicle type, 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, 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.

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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 system manufacturers, and automotive OEMs. 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.

Report Features

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 on 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:

This report studies the global automotive fuel systems market and has segmented the market in four ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the four ways in which the market is segmented:

Automotive Fuel Systems Market, By Vehicle Type

Automotive Fuel Systems Market, By Component Type

Automotive Fuel Systems Market, By Fuel Type

Automotive Fuel Systems Market, By Region

Stratview Research has number of high value market reports in the global automotive and transportation industry. Please refer to the following link to browse through our reports:

https://www.stratviewresearch.com/market-reports/Automotive-Transportation.html

About Stratview Research

Stratview Research is a global market intelligence firm providing wide range of services including syndicated market reports, custom research and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.

We have a strong team of industry veterans and analysts with an extensive experience in executing custom research projects for mid-sized to Fortune 500 companies, in the areas of Market Assessment, Opportunity Screening, Competitive Intelligence, Due Diligence, Target Screening, Market Entry Strategy, Go to Market Strategy, and Voice of Customer studies.

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