Flexible Fuel Engine Market To Reach $ 105.11 Billion Globally By 2030 At 5.6% CAGR: Allied Market Research

PORTLAND, Ore., December 7, 2021 / PRNewswire / – Allied Market Research recently released a report titled, “Flexible Fuel Engine Market by Fuel Type (Gasoline and Diesel), Vehicle Type (Passenger Vehicles and Commercial Vehicles) and Blend Type (E10 to E25, E25 to E85, greater than E85 and others): Analysis of global opportunities and industry forecast, 2021-2030 “. According to the report, the global flex fuel engine industry was pegged to $ 63.20 billion in 2020, and is expected to reach $ 105.11 billion by 2027, with a CAGR of 5.6% from 2020 to 2030.

Drivers, constraints and opportunities

Depletion of fossil fuel reserves, stringent environmental regulations and vehicle emission standards are driving the growth of the global flexible fuel engine market. However, engine demand issues, the development of electric and hybrid electric vehicles, and the lack of flex-fuel stations are hampering market growth. On the contrary, increasing adoption of sustainable automotive technologies and increasing automotive performance on blends with higher ethanol content are expected to open new opportunities for market players in the future.

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Covid-19 scenario:

  • The Covid-19 pandemic has resulted in a nationwide lockdown and the implementation of social distancing standards. In addition, several companies have adopted the culture of working from home. This has drastically reduced the demand for automobiles.
  • The supply chain has been disrupted and manufacturing facilities have been partially or completely closed due to an extended lockdown.

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The gasoline segment dominates the market

By fuel type, the gasoline segment held the lion’s share in 2020, representing more than four-fifths of the global flex fuel engine market. Moreover, the segment is expected to register the highest CAGR of 5.7% during the forecast period, owing to the increasing demand for low cost sustainable automotive technologies across the world. The report includes an analysis of the diesel segment.

Passenger vehicle segment to post highest CAGR by 2030

By vehicle type, the passenger vehicle segment is expected to post the highest CAGR of 5.9% from 2020 to 2030. In addition, the segment held the largest share in 2020, contributing almost two-thirds of the global market. flex fuel engines, due to awareness of growing pollution and the global warming scenario. The report includes an analysis of the Commercial Vehicles segment.

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North America held the largest share

By region, the global flex fuel engine market across North America dominated in terms of turnover in 2020, representing more than a quarter of the market. However, the market through Asia Pacific is expected to represent the highest CAGR of 6.5% over the forecast period, due to increased government regulations aimed at reducing vehicle emissions.

Major market players

  • 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

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