The India flex engine
market is expected to witness a growth of robust CAGR in the forecast period,
FY2023-FY2027. Growing concerns about greenhouse emissions, supportive
government policies, and an increase in the adoption of green vehicle
technology are the primary factors driving the growth of the India flex engine
market for the next five years.
Flex engines or
flexible-fuel vehicles, or flex-flue vehicles, are the vehicles that run on
alternate fuel, and the internal combustion engine in these vehicles can run on
more than one fuel. Vehicles running on flex engine usually runs on gasoline
blended with ethanol or methanol fuel or both, and both the fuels are stored in
a single container. The blend is burnt in a combustion chamber to generate the
necessary power for the vehicle.
Favorable Government Policies
Drives the Market Growth
The union minister of road
transport and highways has announced to expect order shortly, mandating the
automobile manufacturers to manufacture vehicles capable of running on more
than one fuel. With the expected announcement, the demand for flex engine
vehicles is expected to witness massive demand from all over the country. The
government supports the use of alternate fuels and biofuels to tackle the
deteriorating environmental condition. The government is taking steps to lower
the financial burden on customers as biofuels and alternate energy fuels are
affordable. An increase in concerns about the depleting conventional energy
sources and the fluctuation in prices is bolstering alternate fuel sources. The
government is promoting the development of supportive infrastructure and is
making sure alternate fuels are available in the existing refueling stations to
ensure increased comfort and convenience of consumers. The launch of
initiatives focusing on constructing an electric highway between Delhi and
Jaipur is further accelerating the market growth.
Bioethanol is made up of
rice, corn, sugar, and maize crops. The surplus production can be utilized in
making biofuels. The government is offering a high minimum support price (MSP)
to farmers higher than the international or commercial prices.
Rise in Awareness about Green
Vehicle Technology Supports the Market Demand
With the growing concerns
about the adverse effect of harmful emissions to the environment and rapid
climate change, automobile manufacturers are increasing their investments in
research and development activities. The increase in pressure from the country's
leading authorities on automobile manufacturers to adopt sustainable
technologies and manufacturing process is expected to create lucrative
opportunities for the India flex engine market. Total vehicle production was
3.39 million in India in 2020.
Leading authorities are
planning to develop a network of gas-filling stations to promote the adoption
of fuel-filled vehicles among consumers. The market players are adopting
sustainable vehicle technologies and developing eco-friendly flex-fuel engines
are accelerating the adoption of lower emission vehicles among consumers.
Automobile manufacturers are continuously investing in improving the fuel
efficiency of a vehicle, which is expected to lower the emissions in the
vehicles.
The surge in the initiatives
taken by the government and market players to develop and implement clean
vehicle technology in automobiles, along with the launch of high-performance
green vehicles, are expected to bolster the India flex engine market demand for
the next five years.
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Market Segmentation
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 vehicle, medium & heavy commercial vehicle.
Based on the blend type, the market is divided into E10 to E25, E25 to E85,
Above E85, and others. Based on the fuel type, the market is divided into gasoline
and diesel. The market is also studied on the basis of regional
distribution and the regions are majorly divided into North, East, South, and
West.
Market Players
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, and Ford Motor Company, are the
major market players operating in the India flex engine market.
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Attribute
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Details
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Base Year
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FY2021
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Historic Data
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FY2017 – FY2020
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Estimated Year
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FY2022
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Forecast Period
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FY2023 – FY2027
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Quantitative Units
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Revenue in USD Million, Volume in Units, and CAGR for FY2017-FY2021
and FY2022-FY2027
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Report coverage
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Revenue forecast, volume forecast, company share, competitive
landscape, growth factors, and trends
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Segments covered
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·
Vehicle Type
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Blend Type
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Fuel Type
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Region scope
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North, East, West, South
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Key companies profiled
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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, and Ford Motor Company
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Customization scope
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10% free report customization with purchase. Addition or
alteration to regional & segment scope.
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Pricing and purchase options
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Avail customized purchase options to meet your exact research
needs. Explore purchase options
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Delivery Format
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PDF and Excel through Email
(We can also provide the editable version of the report in PPT/Word format on
special request)
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Report Scope:
In this report, India flex engine market
has been segmented into following categories, in addition to the industry
trends which have also been detailed below:
- India Flex Engine Market, By Vehicle Type:
- Two-Wheeler
- Passenger Cars
- Light Commercial Vehicle
- Medium & Heavy Commercial Vehicle
- India Flex Engine Market, By Blend Type:
- E10 to E25
- E25 to E85
- Above E85
- Others
- India Flex Engine Market, By Fuel Type:
- India Flex Engine Market, By Region:
o East
o West
o North
o South
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in India flex engine market.
Available Customizations:
With the given market data, TechSci
Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to
five).
India Flex Engine Market is an upcoming
report to be released soon. If you wish an early delivery of this report or
want to confirm the date of release, please contact us at [email protected]