Global Automotive Fuel Filler Cap Market 2019-2023| Key Insights| Technavio
LONDON--(BUSINESS WIRE)--Jan 16, 2019--The global automotive fuel filler cap market is expected to post a CAGR of over 2% during the period 2019-2023, according to the latest market research report by . However, the growth momentum of the market is expected to decelerate due to a decline in the year-over-year growth.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190116005522/en/
Technavio predicts the global automotive fuel filler cap market to post a CAGR of over 2% during the period 2019-2023 (Graphic: Business Wire)
A key factor driving the growth of the market is the greater use of advanced manufacturing, testing methods, and techniques. The advances in designing and manufacturing processes are augmenting growth in the market. Automotive testing includes checks of the entire vehicle, including its components and parts, to ensure the vehicle conforms to the minimum level of safety requirements. The fuel filler cap is an integral part of the fuel tank system, hence, undergoes various testing techniques to validate its quality as standard. The overall cost of manufacturing increase for the vendors due to such testing procedures and methods.
As per Technavio, fuel filler caps in flexible fuel vehicles will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth.
Global automotive fuel filler cap market: Fuel filler caps in flexible fuel vehicles
The global automotive industry is observing an increasing adoption of bio-fuel and flexible fuel vehicles. This adoption can be attributed to the growing environmental concerns and depleting sources of conventional fuel, which is pushing government agencies, councils, and automakers to look for other sources of fuel and new energy vehicles such as fuel cell vehicle, battery electric vehicle.
“Flexible fuel vehicles and bio-fuel vehicles are designed to run on two fuel sources. Mostly, gasoline or gasoline-ethanol blends are used as primary fuel. When compared to gasoline-only vehicles, these vehicles have slight modifications in their engine and fuel systems and performance are also low. However, there are flexible fuel vehicles that have high-performance features. Yellow fuel filler caps are used in most of the flexible fuel vehicles to differentiate from conventional gasoline-only vehicles. Moreover, put fuel labels on the fuel door or lid to specify the type of fuel to be used,” says a senior analyst at Technavio for research on human-machine interface.
Global automotive fuel filler cap market: Segmentation analysis
This market research report segments the global automotive fuel filler cap market by application (passenger vehicles and commercial vehicles) and geographical regions (APAC, EMEA, and the Americas).
The passenger vehicles segment held the largest market share in 2018, and it is expected to dominate the global market throughout the forecast period. APAC led the market in 2018 and this trend is expected to continue through 2023.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at .
View source version on businesswire.com:https://www.businesswire.com/news/home/20190116005522/en/
CONTACT: Technavio Research
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
INDUSTRY KEYWORD: MANUFACTURING AUTOMOTIVE MANUFACTURING
SOURCE: Technavio Research
Copyright Business Wire 2019.
PUB: 01/16/2019 09:44 AM/DISC: 01/16/2019 09:44 AM