Asia Pacific Fuel Injection Systems Market by Engine Type, by Application, by Geography - Analysis and Forecast to 2019
LONDON, Sept. 14, 2015 /PRNewswire/ -- The Asia-Pacific fuel injection system market was valued at $27,445 million in 2014, and is expected to reach $41,113 million by 2019, at a CAGR of 8.4% from 2014 to 2019. The fuel injection system market in the Asia-Pacific region is segregated into varied countries, such as China, India, Japan, South Korea, and others. China held the largest market share of 45% in the Asia-Pacific fuel injection system market in 2014, and is projected to grow with a CAGR of 9.2% from 2014 to 2019. Its market size is expected to reach from $9,840.4 million in 2014 to $16,390.9 million by 2019. Fuel injection market in India and Japan is expected to grow at a CAGR of 10.3% and 4.4% respectively, respectively
The Asia-Pacific fuel injection system market is driven by stringent emission and fuel efficiency norms. Increasing vehicle production and easy conversion of conventional fuel driven vehicles to alternative fuel without any major technical changes would also drive the demand of automotive fuel injection systems in coming years. On the other hand, the high cost, maintenance, and fuel adulteration, especially in the developing regions of Asia-Pacific may restrict the market growth in future.
By vehicle type, the fuel injection system market is segmented into passenger cars, light commercial vehicles, and heavy commercial vehicles. The Asia-Pacific fuel injection system market size, in terms of volume, was 49,611 thousand units in 2014, which is expected to reach 72,897 thousand units by 2019, at a CAGR of 8.0% from 2014 to 2019.
By fuel type, the market is divided into gasoline and diesel fuel injection system. Initially, the diesel engines were mainly used in heavy vehicles, although these are now being used in other vehicle segments as well due to the recent developments in diesel powertrains. Depleting resources have increased the demand for diesel-powered vehicles. Another aspect driving the demand for diesel engines is the closing gap between the performance figures of diesel and gasoline-powered vehicles. The rising demand for these vehicles in almost all major markets drives the growth of fuel injection systems market.
The Asia-Pacific fuel injection system market is a competitive market with a number of market players using niche technologies. As of 2014, the Asia-Pacific market was dominated by Denso Corporation, Robert Bosch, Hitachi Ltd. New product launches and joint ventures are the major strategies adopted by most market players to achieve market growth.
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