Aftermarket Pushing up Demand for Automotive Fuel Injectors, Sales Set to Cross 54.2 Million Units by 2010, According to New Report by Global Industry Analysts, Inc.
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Global automotive industry worldwide is experiencing a paradigm shift from carburetors to fuel injection systems driven by the pressing need to confer to emission standards and government environmental regulations. Carburetors continue to be used in several markets. However, fuel injection systems provide definite advantage over them for a complete replacement.
San Jose, California (PRWEB) July 18, 2007 -- World Automotive Fuel Injectors market is all set to cross the 54.2 million units mark by 2010 at a CAGR of 4.05% over the 2001-2010 analysis period, primarily driven by an increased demand from the aftermarket sector. Fuel injection systems with attractive features such as enhanced fuel economy and ignition control made possible by multi-point fuel injection and electronic control devices are emerging as choice products.
Original Equipment Manufacturers' (OEM) and aftermarket demand characterizes the fuel injectors market. Indeed, the level of market penetration impacts market composition in a particular market. Presently, carburetors are being substituted with fuel injection system in majority of the automotives. Coupled with this, proper repairs and replacements are likely to offer aftermarket prospects for fuel injector manufacturers.
Fuel injectors are projected to experience immense demand led by rising application of fuel injection systems all over the world. The level of penetration of fuel injection systems in respective automotive market determines the demand for fuel injectors in different markets. Another demand determinant is the stage of introduction of the product in a particular market. Fuel injectors market is responsive to aftermarket demand in North America, Japan, and Western Europe while OEM demand controls the total market in less industrialized markets such as Eastern Europe, Asia-Pacific (except Japan), and Latin America and other nascent markets.
Mature western world markets of US, Canada and Europe are likely to exhibit moderate growth, while emerging economies of Asia-Pacific are likely to be the primary growth propellers in the global Automotive Fuel Injectors market. Though OEM market for Automotive Fuel Injectors, with a share estimated at 61.34% in 2006, forms the bulk of the demand, it is the aftermarket sector that is forecast to emerge as the faster growing market, with a CAGR of 4.20% over 2001-2010.
Fuel injectors are projected to experience immense demand led by rising application of fuel injection systems all over the world. The level of penetration of fuel injection systems in respective automotive market determines the demand for fuel injectors in different markets. Another demand determinant is the stage of introduction of the product in a particular market. Fuel injectors market is responsive to aftermarket demand in North America, Japan, and Western Europe while OEM demand controls the total market in less industrialized markets such as Eastern Europe, Asia-Pacific (except Japan), and Latin America and other nascent markets.
Fuel injectors market is poised to spike up, driven by a paradigm change towards fuel injection systems. Diesel fuel injectors as a result is likely to experience diverse sales in different markets as the general choice for diesel/gasoline engines vary. Trucks with diesel engines are preferred for their impressive fuel economy and power. But application of diesel power in passenger cars has plunged over the years, due to associated pollutants such as nitrogen oxides. However, declining particulate emissions is making diesel engines a product of choice in the European market, fueling demand for diesel fuel injectors. Currently, sales of new passenger vehicles with diesel engines constitute approximately 50% of total sales in the European markets. Demand for diesel engines is lackluster in the US while growing in China.
The automotive industry is experiencing rapid technological developments in the face of stringent environmental regulations and emission standards. In the design of engines and parts, the OEMs are avant-garde. However, aftermarket suppliers are good in emulating the technology, which is associated with quite a few challenges. Therefore, both the OEM as well as aftermarket suppliers are presented with excellent prospects to bank on market demand for latest products by keeping abreast with competitors on the technological front.
Robert Bosch is the worlds' largest fuel injector manufacturer. The company has an annual production capacity of 40 million fuel injectors with current annual production of over 30 million units. Siemens VDO Automotive is the second largest independent manufacturer of fuel injectors in the world. Denso Corp. is the third largest fuel injection systems and parts manufacturer worldwide, focusing mainly on diesel fuel-injectors segment.
In the mechanical diesel fuel injectors market, Bosch Automotive Systems and Denso are the only two major players competing fiercely for a larger pie of the market.
In light of fuel injector's effective performance, automakers are all set to replace traditional carburetors with efficient fuel injectors as their application increases significantly in both developed and developing countries. Automakers' initiative to address the maintenance and operational problems associated with fuel injectors such as varnishing of inlet valves, congestion of catalyst exhausts, and undue bore wear is critical for growth in the fuel injectors market.
Major competitors covered include Delphi Corporation, Denso Corporation, DUAP AG, Keihin Corporation, Navistar International Corporation, Orbital Corporation Ltd., Quantum Technologies, Inc., Robert Bosch GmbH, Siemens VDO Automotive, Standard Motor Products, Visteon Corporation and Westport Innovations, Inc.
For more details about this research report, please visit www.strategyR.com/MCP-1047.asp.
About Global Industry Analysts, Inc.: Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc. Telephone 408-528-9966 Fax 408-528-9977 Web Site www.StrategyR.com
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