Emerging Trends in Sustainable Automotive Technology : Flex Fuel Engine Market Projected to Hit $105.11 Billion by 2030
Flex Fuel Engine Market
OREGAON, PORTLAND, UNITED STATESย , July 28, 2024 /EINPresswire.com/ — According to a recent report published by Allied Market Research, titled, โFlex Fuel Engine Market by Fuel Type, Vehicle Type, and Blend Type: Global Opportunity Analysis and Industry Forecast, 2020โ2030,โ The global flex fuel engine market was valued at $63.21 billion in 2020, and is projected to reach $105.11 billion by 2030, registering a CAGR of 5.6%.
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ฌ –
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.
๐๐๐ฃ๐จ๐ซ ๐ฆ๐๐ซ๐ค๐๐ญ ๐ฉ๐ฅ๐๐ฒ๐๐ซ๐ฌ
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
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 marketโs growth in the coming years.
๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐๐จ๐ฆ๐ฉ๐ฅ๐๐ญ๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ:
๐๐ก๐ ๐ ๐๐ฌ๐จ๐ฅ๐ข๐ง๐ ๐ฌ๐๐ ๐ฆ๐๐ง๐ญ ๐๐จ๐ฆ๐ข๐ง๐๐ญ๐๐ ๐ญ๐ก๐ ๐ฆ๐๐ซ๐ค๐๐ญ
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.
๐๐ก๐ ๐ฉ๐๐ฌ๐ฌ๐๐ง๐ ๐๐ซ ๐ฏ๐๐ก๐ข๐๐ฅ๐๐ฌ ๐ฌ๐๐ ๐ฆ๐๐ง๐ญ ๐ญ๐จ ๐ฆ๐๐ง๐ข๐๐๐ฌ๐ญ ๐ญ๐ก๐ ๐ก๐ข๐ ๐ก๐๐ฌ๐ญ ๐๐๐๐ ๐ญ๐ก๐ซ๐จ๐ฎ๐ ๐ก ๐๐๐๐
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.
๐๐จ๐ซ๐ญ๐ก ๐๐ฆ๐๐ซ๐ข๐๐ ๐ก๐๐ฅ๐ ๐ญ๐ก๐ ๐ฅ๐๐ซ๐ ๐๐ฌ๐ญ ๐ฌ๐ก๐๐ซ๐
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.
๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ –
๐๐๐ฒ ๐ ๐ข๐ง๐๐ข๐ง๐ ๐ฌ ๐๐ ๐๐ก๐ ๐๐ญ๐ฎ๐๐ฒ
By fuel type, the gasoline segment is expected to register significant growth during the forecast period.
On the basis of vehicle type, the passenger vehicles segment is projected to lead the global market in terms of market share by the end of the forecast period.
Based on blend type, the above E85 segment is expected to register significant CAGR during the forecast period.
The rest of the world dominated the market in 2020, and is projected to lead the market growth and maintain its dominance in the global market.
๐๐ข๐ฆ๐ข๐ฅ๐๐ซ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐๐ ๐๐๐ฏ๐ ๐จ๐ง ๐๐ฎ๐ญ๐จ๐ฆ๐จ๐ญ๐ข๐ฏ๐ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ:
– Global Opportunity Analysis and Industry Forecast, 2014-2030.
– Global Opportunity Analysis and Industry Forecast, 2030-2040
– Global Opportunity Analysis and Industry Forecast, 2023-2032
David Correa
Allied Market Research
+1 800-792-5285
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