Gasoline Engine Management Systems Market Size Analysis, Segmentation, Industry Outlook and Forecasts, 2018 - 2023
Factors, such as developments in the vehicle performance, stringent emission and fuel economy standards, technological advancements in the engine management systems and increasing production of the vehicle are likely to drive the gasoline engine management system market in the forthcoming period.
(firmenpresse) - Global gasoline engine management systems market is anticipated to witness exponential growth in the forecast period. Gasoline engine management system constitutes the dynamic parts of a vehicle mainly responsible for controlling the amount of fuel being injected and regulated for ignition timing.
Factors, such as developments in the vehicle performance, stringent emission and fuel economy standards, technological advancements in the engine management systems and increasing demand for gasoline engine management vehicle and increasing production of the vehicle are likely to drive the gasoline engine management system market in the forthcoming period. On the other hand, the high cost of the system is anticipated to hinder the market growth in the future. However, increasing focus on research activities and developments in this field are likely to create lucrative opportunities for the market. Globally, market is anticipated to expand at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe.
Gasoline engine management system market could be explored by product type, application, distribution channel, and geography. The market could be explored by product type as Air Mass Flowmeters, Electric Fuel Pumps, Oxygen Sensors, ignition Coil, Engine Electronic Control Units and Others.
The key applications that could be explored in the gasoline engine management systems industry include Heavy Commercial Vehicle, Passenger Vehicle and Light Commercial Vehicle. The “Passenger Vehicle” segment accounted for a prominent share in the market. It is likely to witness substantial growth in the years to come. The key factor that could be attributed to the growth of market include increase in vehicle sales.
The market could be explored based on distribution channel as Offline and Online distribution. The “Offline Distribution” segment accounted for a prominent share in the market. It is likely to witness substantial growth in the years to come.
Asia-Pacific is a leading region in the market. It is likely to maintain its dominance in the forecast period owing to factors, such as high growth of the APAC region, technological advancements, developing economies, rising sales of passenger cars, and shifting global players in the APAC region owing to low labor cost. Asia-Pacific is followed by the European region.
Key players operating in the gasoline engine management systems market include Denso, Delphi, Continental, Robert Bosch, Sensata Technologies, Hitachi Automotive, Sanken Electric, NGK Spark Plug, Haltech Engine Management Systems, Hella KgaA Hueck, Lucas Electrical, and M-Tech Automotive. The leading companies are involved in partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
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