Automotive Flex Fuel Engine Market Scenario
Automotive flex fuel engine market is poised to mark 6% CAGR Forecast by 2027
The Global Automotive Flex Fuel Engine Market is expected to exhibit a strong 6% CAGR over the forecast period till 2023, according to the latest research report from Market Research Future (MRFR). The report provides a greatly detailed profile of the global automotive flex fuel engine market and gives readers an all-inclusive overview of the market. The past, present, and future of the market are studied in the report, with detailed historical analysis, present statistics, and future projections. Historical statistics revealing the market’s historical growth trajectory are studied in detail in the report. Based on these statistics and a study of the major drivers and restraints affecting the market, future projections can be made for the automotive flex fuel engine market.
Based on this platform, future projections for the Automotive Flex Fuel Engine Market growth trajectory over the forecast period are provided in the report. A comprehensive analysis of the leading players in the automotive flex fuel engine market is also provided in the report, which profiles the major players operating in the market. The major factors and trends affecting the global automotive flex fuel engine market are assessed in the report. The impact of the COVID-19 pandemic on the automotive flex fuel engine market is also assessed in the report.
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A flexible fuel engine or dual-fuel engine is also called flex-fuel engine and can operate on two different fuels from the same tank. Flex-fuel engines are designed to run on more than one fuel, such as gasoline or diesel, which can be stored in the same tank. Flexible Fuel Technology, Flex-fuel engines are flexible, independent, resource saving and can start the engine easily. The main advantage of flex-fuel engines is the reduced petroleum content. Flex-fuel engines have the capacity to burn any percentage of gasoline in the combustion chamber. In flex-fuel engines, spark timing and injection are regulated according to the proportion of both fuels, detected by the fuel mixture sensor. Vehicle manufacturers are developing new technologies, such as flex start, to improve vehicle efficiency and reduce vehicle emissions.
Some of the drivers of the Automotive Flex Fuel Engine Market are stringent environmental regulations, depleting natural sources of diesel, rising vehicle emission norms, and the rising desire among governments to enable low dependence on oil imports. European automakers are initiating various types of developments such as cleaner alternative fuels and advanced power systems for vehicles, which are being given priority to improve flex fuel engine efficiency. Therefore, the reduced import of oil would eliminate a crucial expenditure and improve the country’s economy. Hence, countries with limited oil reserves are continuously taking initiatives to reduce oil consumption and boost the use of domestic alternative fuels. The major trend in the automotive flex fuel engine market is second-generation ethanol becoming popular in flex-fuel vehicles. However, high production cost of ethanol hampers the growth of the market.
Top Key Players:
Leading players in the Global Automotive Flex Fuel Engine Market include Mitsubishi Motors Corporation, Volvo Cars, Fiat Chrysler Automobiles, Audi, Toyota Motor Corporation, Nissan Motor Co. Ltd., Honda Motor Co. Ltd., General Motors Company, Volkswagen, and Ford Motor Company.
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Segmentation:
The global Automotive Flex Fuel Engine Industry is segmented on the basis of engine capacity, fuel type, vehicle type, and region.
By engine capacity, the global automotive flex fuel engine market is segmented into compact-size engine and full-size engine.
By fuel type, the global automotive flex fuel engine market is segmented into gasoline and diesel.
By vehicle type, the global automotive flex fuel engine market is segmented into passenger cars and commercial vehicles.
Regional Analysis:
North America is likely to dominate the global automotive flex fuel engine market over the forecast period. This is mainly due to the growing government support to automotive innovations that help reduce automotive emissions. The U.S. is likely to be a major regional market for automotive flex fuel engine technology over the forecast period. Asia Pacific and Europe are also likely to remain important regional markets over the forecast period.
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