(MENAFN- EIN Presswire)
Flex fuel Engine Market1
The global flex fuel engine market is driven by depleting fossil fuel reserves, strict environmental regulations, and stringent vehicle emission standards.
WILMINGTON, DE, UNITED STATES, October 18, 2024 /EINPresswire / -- As per the report, the global flex fuel engine market size was pegged at $63.20 billion in 2020, and is expected to reach $105.11 billion by 2027, growing at a CAGR of 5.6% from 2020 to 2030.
Depleting fossil-fuel reserves and strict environmental regulations and vehicle emission norms drive the growth of the global flex fuel engine market. However, engine demand concerns, development of electric and hybrid electric vehicles, and lack of flex-fuel stations hinder the market growth. On the contrary, rise in adoption of sustainable automotive technologies and surge in automotive performance on higher ethanol blends are expected to open new opportunities for the market players in the future.
Download Sample Report (Get Full Insights in PDF - 291 Pages) at:
Flex-fuel engines are utilized to lower vehicle emissions, while reducing dependence on foreign oils. Flex-fuel engines come in a variety of shapes and sizes, as well as for a variety of blended fuel applications. Flex-fuel engines can run on a mix of gasoline and other fuels. The growth in commercial vehicle fleet, expansion in transportation infrastructure, tightened government regulations, and rise in global automobile production have all contributed to a significant increase in flex-fuel engine production in recent years.
The factors, such as stringent environmental regulations, vehicle emission norms, and depleting fossil-fuel reserves are expected to drive the flex-fuel engine market. However, engine damage concerns, scarcity of flex-fuel stations, and development of electric & hybrid electric vehicles are the factors anticipated to restrict the growth of the market during the forecast period. Moreover, rise in adoption of sustainable automotive technologies and increased automotive performances on higher ethanol blends across the world are the factors projected to supplement the flex-fuel engine market's growth in the coming years.
For Report Customization:
The sale of the flex-fuel engine is closely linked to global automotive production and sales operations. Owing to commute restrictions and poor financial performance of market players in 2020, the spread of the COVID-19 pandemic had a detrimental impact on the growth of the flex-fuel engine industry. The COVID-19 crisis has caused uncertainty in the flex-fuel engine market by slowing supply chains, limiting corporate growth, creating unclear demand scenarios, and raising customer anxiety.
By region, the global flex fuel engine market across North America dominated in terms of revenue in 2020, accounting for more than one-fourth of the market. However, the market across Asia-Pacific is anticipated to portray the highest CAGR of 6.5% during the forecast period, owing to rise in government regulation to reduce vehicle emissions.
By fuel type, the gasoline segment held the lion's share in 2020, accounting for more than four-fifths of the global flex fuel engine market. Moreover, the segment is estimated to register the highest CAGR of 5.7% during the forecast period, owing to rise in demand for low-cost sustainable automotive technologies across the globe. The report includes an analysis of the diesel segment.
Buy Now & Get Up to 50% off on This Report:
By vehicle type, the passenger vehicles segment is projected to manifest the highest CAGR of 5.9% from 2020 to 2030. Moreover, the segment held the largest share in 2020, contributing to nearly two-thirds of the global flex fuel engine market, owing to rise in awareness about the growing pollution and global warming scenario. The report includes an analysis of the commercial vehicles segment.
Major market players
Cummins Inc.
Volkswagen AG
Ford Motor Company
General Motors Company
Fiat Chrysler Automobiles
Mitsubishi Motors Corporation
Honda Motor Co., Ltd.
Toyota Motor Corporation
Nissan Motor Co., Ltd.
AB Volvo
Other Trending Reports:
1. Engine Oil Market Size Overview
2. Marine Diesel Engine Market Size Overview
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.
AMR launched its user-based online library of reports and company profiles, Avenue. An e-access library is accessible from any device, anywhere, and at any time for entrepreneurs, stakeholders, researchers, and students at universities. With reports on more than 60,000 niche markets with data comprising 600,000 pages along with company profiles on more than 12,000 firms, Avenue offers access to the entire repository of information through subscriptions. A hassle-free solution to clients' requirements is complemented with analyst support and customization requests.
Contact:
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: + 1-800-792-5285
UK: +44-845-528-1300
India (Pune): +91-20-66346060
Fax: +1-800-792-5285
...
David Correa
Allied Market Research
+1 800-792-5285
email us here
Visit us on social media:
Facebook
X
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability
for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this
article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
MENAFN17102024003118003196ID1108793553
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.