Automotive Air/Fuel Management Parts Market Outlook – 2027
The automotive air/fuel management parts on vehicles are responsible for accurately measuring all the air entering the engine and delivering the precise amount of fuel to each cylinder. To ensure optimum performance of vehicle, the air/fuel ratio during combustion should be accurate, which is maintained efficiently by air/fuel management parts. Moreover, the air/fuel management parts are responsible for good performance, optimal fuel efficiency, and low emissions in a vehicle. The air/fuel management parts include inlet air throttle, fuel trim valve, oxygen sensor, and others. The oxygen sensor is used to measure the concentration of oxygen in the exhaust gas of an internal combustion engine in an automobile.
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COVID-19 scenario analysis:
- The novel coronavirus pandemic is exhibiting a negative impact on the global automotive industry.
- The effect of the pandemic is affecting the automotive air/fuel management parts industry as the showrooms and industry are shutdown due to government orders.
- Besides, Asia-Pacific, the major manufacturing hub for automotive and automotive components manufacturing, is being adversely affected due to COVID-19.
- Additionally, the supply and demand of air/fuel management parts is becoming a major challenge due to disrupted supply chain.
- While the production has halted, the companies are planning strategies to tackle the obstacles created due to the pandemic.
Top impacting factors: market scenario analysis, trends, drivers and impact analysis
Growth in sales across all vehicular segments is the key driving factor of automotive air/fuel management parts market. Additionally, consumer demand for fuel efficient vehicles is surging the market of automotive air/fuel management parts. Moreover, automotive air/fuel management parts play a vital role in emission control of the vehicle as it accomplishes the exact amount of air/fuel ratio required for the vehicle. However, high cost associated with few parts of air/fuel management is expected to hamper the market growth. Further, continuous advancements in air/fuel management parts are proliferating the market growth.
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The automotive air/fuel management partsmarket trends are as follows:
Partnership to enlarge the market growth
With complexity of engine and rising consumer demand for advanced features is challenging the automakers and increasing the competition. To cope up with the challenge, the automotive OEMs and automotive components manufacturers are partnering with other firms to enhance the productivity and maintain the quality of end-product. For instance, in 2017, Pricol Limited, a leading manufacturer of automotive components signed licensing agreement with Kerdea Technologies for Oxygen sensor. The partnership was signed in order to cater to combustion engine applications in the two-wheeler and three-wheeler vehicle segments.
Increasing Investments in infrastructure development to support market growth
The automotive sector is emerging with rise technological advancements and infrastructural development. With introduction of facilities like proper roads and communication, the sales of vehicle and automotive air/fuel management parts simultaneously increases. For instance, in 2019, Indian government has planned to spend USD 1.4 trillion on infrastructure in next five years. Moreover, the increased sales of vehicles can provide growth opportunities for the players in air/fuel management parts manufacturing aftermarket, owing to replacement of air/fuel management parts that are frequently required to maintain the life of engine.
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Key benefits of the report:
- This study presents the analytical depiction of the automotive air/fuel management partsindustry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the automotive air/fuel management partsmarket growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis based on competitive intensity and how the competition will take shape in coming years.
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