$67.7 Billion Flex Fuel Engines Market Growing at 5.8% CAGR, APAC Holds Huge Potential: Market Decipher
PUNE, India, Oct. 4, 2022 /PRNewswire/ -- The New Report "Flex-Fuel Engines Market Size, Statistics, Growth Trend Analysis and Forecast Report, 2022 - 2032" shows insights and data published by Market Decipher. The report estimates the Flex-Fuel Engines Market size at $67.7 Billion in 2021 and forecasts it to reach $125.9 Billion by 2032. The fastest growing region includes Asia-pacific and North America. The flex-fuel engine market is set to grow rapidly as people become aware of CO2 emissions, their impact on global warming, and the depletion of fossil fuels used in conventional engines.
Get research insights in detail: https://www.marketdecipher.com/report/flex-fuel-engine-market
"Flex-Fuel Engines are designed in a manner to function on two dissimilar fuels within the same tank such as gasoline and diesel without any storage issues. Flex fuel engines emit fewer carbon particles as compared to IC engines. Call for minimizing reliance on the non-renewable source of energy and strict vehicle emission regulations set by the governments are stimulating the market growth. Market Decipher has completely revised the huge database on Flex-Fuel Engine Market covering all major regions and companies. The latest insights and forecasts have revealed new areas of profitability. The North American region is showing the fastest growth during the forecast period 2022-2032 and the global market is anticipated to grow at a CAGR of 5.8% during this period"
- Chandradeep Singh
Download 2022 Version Sample: https://www.marketdecipher.com/report/flex-fuel-engine-market
Flex-Fuel Engines are Eco-Friendly
Flex-Fuel is a cleaner burning fuel as compared to pure petrol or diesel. This is due to the blending of ethanol which produces fewer toxic fumes and carbon particles when burned. This helps Flex-fuel engines to produce lesser greenhouse gases making them more eco-friendly. Modern Flex-Fuel engines can run on any ratio of fuel mixture in the combustion chamber that may contain 10% to 85% ethanol.
Ethanol is a more sustainable fuel when compared to other non-renewable sources of energy as it can be sourced from food crops like corn and sugarcane. This helps in reducing the overall cost of the fuel while at the same time reducing the carbon footprint from processing the fuel.
High Maintenance Cost and Lesser Milage is driving the market down
Ethanol Fuel has a higher affinity to water, which causes greater wear and stress on the engines. This translates to higher maintenance costs of the Flex-fuel engine. Ethanol has higher octane level but it contains lesser energy as compared to pure petrol or diesel. Flex-fuel engines use 1.5 times more fuel to provide the same amount of energy making mileage the primary problem for these engines.
The gasoline segment dominates the market
The Flex Fuel Engines Market is segmented by gasoline and diesel flex-fuel engines. The gasoline segment held the lion's share in 2021, accounting for more than four-fifths of the global flex fuel engine market. Moreover, the flex-fuel engine market is estimated to register a CAGR of 5.8% during the forecast period, owing to the rise in demand for low-cost sustainable automotive technologies across the globe. With increased research and development by manufacturers to raise the blend quantity for diesel and continuous acceptance of this technology in heavy-duty pickup vehicles, the diesel flex-fuel segment is also experiencing stable growth in the market.
North America holds the largest market share
By region, the global flex fuel engine market across North America dominated in terms of revenue in 2021, accounting for more than one-fourth of the market with the existence of nations like the United States, and Canada. However, the market across Asia-Pacific is anticipated to portray the highest CAGR of 7.1% during the forecast period, owing to the rise in government regulation to reduce vehicle emissions. In India, the government has set various deadlines for introducing ethanol-based fuel to reduce the amount of fossil fuel consumption in the country
Key Developments
- In 2022, Europe is aiming to achieve a milestone of the E85 blend which would require cars equipped with flex-fuel engines and this would further boost the demand for automotive flex-fuel engines.
- In 2022, Toyota is set to Launch a Flex-Fuel Car in India
- In 2022, Maruti Suzuki plans to phase out the production of pure petrol vehicles in the next 10 years.
- In 2022, the Indian Government has issued an advisory to carmakers to introduce flex-fuel engines to vehicles.
- In 2023, Honda aims to launch Flex-fuel 2-wheelers globally.
- In 2023, Maruti Suzuki is set to launch E20 and E85 compliant flex-fuel engines
Customized Report can be procured on Request: https://www.marketdecipher.com/report/flex-fuel-engine-market
Report Details:
Number of Pages: 220
Number of Tables: 60
Number of Charts and Graphs: 40
Key Players in Flex-Fuel Engine Market:
- AB Volvo
- Cummins Inc.
- Fiat Chrysler Automobiles
- Ford Motor Company
- General Motors Company
- Honda Motor Co., Ltd.
- Mitsubishi Motors Corporation
- Nissan Motor Co., Ltd.
- Toyota Motor Corporation
- Volkswagen AG
Flex-Fuel Engine Market Research Report Analysis Highlights
- Historical data available (as per request)
- Estimation/projections/forecast for revenue and unit sales (2021 – 2032)
- Data breakdown for application Industries (2021 – 2032)
- Integration and collaboration analysis of companies
- Business trend and expansion analysis
- Import and export analysis
- Competition analysis/market share
- Supply chain analysis
- Client list and case studies
- Market entry strategies adopted by emerging companies
Get this research report at: https://www.marketdecipher.com/report/flex-fuel-engine-market
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