iCrowdNewswire Jan 15, 2021 11:00 AM ET
The global Automotive Fuel Injection Pump Market has witnessed anotable growth in the automotive industry, says Market Research Future (MRFR). MRFR also observed that its demand is anticipated to expand with the CAGR of 7.14%, during the forecast period.
The automotive fuel injection pump is considered to be as one of the most crucial vehicle parts and has gained a lot of traction among the major vehicle manufacturers, globally. The automotive industry has become one of the significant Size-generating industries and has come up with numerous technological advancements in engine components in the past year, where automotive fuel injection pumps being one of them. Automotive fuel injection pumps market is gaining substantial traction in the present time and will expand in the future at a greater extent, as predicted for the future by analyzing factors and segments.
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Market Drivers & Trends
The global Automotive Fuel Injection Pump Market has been intensifying where its main focus is on emission control and fuel efficiency. The manufacturers of the automotive industry have are now extra focused on apprising the technology for better fuel efficiency and low emission control. Automotive fuel injection pumps perform an essential function in the engines and enhance their ability and enable a smooth run of the vehicle. Due to these factors, the global market for Automotive Fuel Injection Pump Market is gaining the maximum traction over the forecast period.
The fuel injection pump in vehicles is known for working efficiently and transmits the engine performance to the vehicle engine. The global Automotive Fuel Injection Pump Market is mainly influenced by growth factorssuch as low emission & higher fuel efficiency, surging Market of new vehicles, strict government regulations on reducing vehicles emission, technological advancements and emerging economies.
On the flip side, asignificant hindrance to the growth of the market could be the surging penetration of electric vehicles. With this, the increasing demand for gasoline engine vehicles and escalating disposable income might create major market opportunities for the future.
The Automotive Fuel Injection Pump Market globally has been segmented on the basis of engine type, pressure, type, and vehicles type.
In terms of engine type: It includes a gasoline engine and diesel engine. The gasoline engine is likely to lead the global market as it was in 2016by Markets.
In terms of pressure, the market has been segmented as a low-pressure pump and high-pressure pump.
In terms of type, the market has been segmented as common rail and rotary distributor.
In terms of vehicle type, the market has been segmented as passenger vehicles and commercial vehicles. Among these,the passenger vehicles segment is tracked for the highest market share, like in 2016, in terms of Size.
Geographically, the global Automotive Fuel Injection Pump Market has been divided into the keyregions such as North America, Europe, Asia Pacific, and Rest of the World.
Among the regions, the Asia Pacific region has been leading the global market owingto the thriving factors such as strict regulation on vehicle emission, rising disposable income, and growing new vehicle registration. A few years back, APAC sold the highest number of vehicles in countries of China, Japan, and Indonesia, as they contribute majorly. Moreover, the surge in demand for passenger vehicles has also become a key driving factor for the APAC region.
North America is the second leading region when it is about Size terms. Europe holds the third leading region in the global Automotive Fuel Injection Pump Market.
The prominent players in the Automotive Fuel Injection Pump Market include Continental AG (Germany), Denso Corporation (Japan), Delphi Automotive (UK), Robert Bosch (Germany), Hitachi Ltd (Japan), Infineon Technologies (Germany), Schaeffler Group (Germany), Johnson Electric (Hong Kong), Mitsubishi Electric (Japan), Valeo (France), MAHLE GmbH (Germany), and Cummins
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