India Flex Engine Market to be dominated by Gasoline Fuel Type Vehicles through FY2027
Fluctuations in crude oil prices and strict vehicle
emission norms are expected to drive the
demand for the India Flex Engine Market in the forecast period, FY2023-FY2027.
According to TechSci Research
report, “Flex
Engine Market – India Industry Size, Share, Trends, Opportunity and
Forecast, 2017-2027”, the India flex engine
market is anticipated to witness steady growth during the forecast period,
FY2023-FY2027. Increased production of high-end and luxury vehicles along with
growing demand for alternate fuel vehicles are driving the demand for the India
flex engine market. The surge in consumers' awareness about the role of automobile
emissions on environmental pollution and the availability of advanced vehicles
running on flex engines is influencing the demand for non-conventional fuel
running automobiles.
Flex fuels are considered
clean vehicles as they produce fewer fumes and have lower adverse impacts on
the environment than conventional vehicles. The higher the concentration of
ethanol in fuel, the lower the damage to the surroundings. Flex-fuel engine
delivers similar performance as fuel-driven vehicles as it works exactly like
an internal combustion engine. With increased awareness about the benefits of
flex engines and the launch of performance-driven alternate fuel-powered
vehicles, the India flex engine market is expected to grow at a steady rate.
Improvement in the country's
economic status is driving the expenditure capacity of consumers to afford a
quality lifestyle. The rapid urbanization of consumers and the increased
preference for private vehicle ownership is boosting vehicle sales across the
country. Automobile manufacturers are setting up plants and opening stores to
fulfill consumers' requirements. Increased vehicle production and sales are
expected to impact the India flex engine market's growth positively.
However, the lack of
flex-fuel engines and the launch of hybrid and electric vehicles may restrain
market growth in the forecast period.
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The India flex
engine market is segmented into vehicle type, blend type, fuel type
distribution, and company.
Based on the
vehicle type, the market is divided into two-wheeler, passenger cars, light
commercial vehicles, medium & heavy commercial vehicles. Passenger cars
dominate the market and are expected to maintain their dominance throughout the
forecast period. Changing consumer preference, improved living standards, and
availability of passenger cars in the market supporting flex engine is expected
to bolster the India flex engine market demand.
Based on the
blend type, the market is divided into E10 to E25, E25 to E85, above E85, and
others. E10 to E25 blend type is expected to witness the fastest incremental
growth in the forecast period, 2023-2027. E10 to E25 lowers greenhouse gas
emissions and harmful hydrocarbons into the environment and is considered a
high-performance fuel than conventional fuels. India plans to achieve E10 by
2022 and E20 by 2025. The government asks automobile manufacturers to take
appropriate steps to make the vehicles compatible with a flex engine. The
expected investments by the market players are expected to influence the India
flex engine market growth.
Based on the fuel
type, the market is divided into gasoline and diesel. Gasoline is expected to
account for a significant market share in the forecast period. End users are
opting for vehicles that are economically viable and highly fuel-efficient.
Major market
players operating in the India flex engine market are :
- Maruti Suzuki India Limited
- Tata Motors Limited
- Mahindra & Mahindra Limited
- Hyundai Motor Company
- Honda Motor Company, Ltd.
- Bajaj Auto Limited
- TVS Motor Company
- Hinduja Group (Ashoke Leyland)
- Toyota Motor Corporation
- Ford Motor Company
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“India’s
oil import bill in FY2021 was USD62.7 billion, and with growing sales of
traditional vehicles, the numbers are expected to witness exponential growth in
the next five years. The use of flex engines in automobiles can significantly
reduce oil imports and environmental pollution. Major market players such as
Toyota, Maruti Suzuki, and Hyundai are planning to launch four-wheeler vehicles
running on flex engines. Similarly, Bajaj Auto and TVS Motors are expected to
introduce two-wheeler vehicles. The expected demand for ethanol can be met by
surplus crop production. Market players are investing in research and
development activities to find innovative solutions and manufacture
cost-effective vehicles are expected to propel India flex engine market growth
till FY2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based
global management consulting firm.
“Flex Engine Market – India Industry Size, Share,
Trends, Opportunity and Forecast, 2017-2027, Segmented By Vehicle Type (Two-Wheeler, Passenger
Cars, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle), By
Blend Type (E10 to E25, E25 to E85, Above E85, and Others), By Fuel Type
(Gasoline and Diesel), By Region”,
has evaluated the future growth potential of India flex engine market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in India flex engine market.
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