NEW YORK, May 24, 2021 /PRNewswire/ --
The automotive fuel injector market is projected to grow by USD 9.64 billion, registering a CAGR of over 2% during 2021-2025. Technavio's report on the automotive fuel injector market covers the market outlook and growth prospects during the forecast period.
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Technavio's research study provides comprehensive information on the factors affecting the growth of the automotive fuel injector market across the following regions.
Automotive Fuel Injector Market in APAC:
"APAC occupied about 52% of the market share in 2020 and the region is offering significant growth opportunities for market vendors. Consumers in APAC highly prefer vehicles with better fuel economy, which is compelling automakers to introduce fuel injection systems in their offerings. Also, many global automobile brands and OEMs are setting up manufacturing plants to tap the growth potential in the region. Such developments are creating a high demand for fuel injectors in the region," says a senior analyst at Technavio.
The rising stringency of emission norms and the presence of a large automotive production base will be crucial in driving the growth of the market in APAC. The revenue contribution to the market in APAC will be maximum from countries such as China, Japan, and India.
Automotive Fuel Injector Market in Europe:
"High fuel prices and the presence of stringent regulations on emissions have increased the penetration of electronic fuel injection systems in Europe. Additionally, the increased sales of commercial vehicles in the region is providing several opportunities for market vendors," says a senior analyst at Technavio.
The market is expected to register a 2.14% CAGR in Europe during 2021-2025. Factors such as the high production and sales volumes of passenger cars and increased focus on the adoption of energy-efficient technologies by automakers will be crucial in driving the automotive fuel injector market growth in Europe. The revenue contribution to the market in Europe will be maximum from Germany.
Automotive Fuel Injector Market in North America:
"Commercial vehicles account for about half of total vehicles used in North America. The growth of various industries such as oil and gas, mining, agriculture, and industrial manufacturing are increasing the adoption of medium and heavy-duty vehicles. In addition, the sales of class-8 vehicles in the US increased by about one-third in 2018 compared with that in the previous year. Many such factors will offer significant opportunities for vendors," says a senior analyst at Technavio.
The market is expected to register a 2.23% CAGR in North America during the forecast period. The strong presence of the automotive industry and the emergence of Mexico as a major automobile production hub will fuel the growth of the automotive fuel injector market in North America. The US is the major market for automotive fuel injectors in the region.
Know about the major factors impacting the growth of the market across other regions by downloading our free sample report:
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The global automotive fuel injector market is driven by the following factors:
Based on the application, the report segments the automotive fuel injector market by passenger vehicles and commercial vehicles.
The passenger vehicles segment registered maximum growth in the market in 2020. The segment is driven by the increasing adoption of common rail direct fuel injection (CRDI) systems in passenger vehicles. Also, the increasing demand for SUVs is fueling the growth of the segment.
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Top vendors highlighted in the Automotive Fuel Injector Market Report:
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