Global Flex Fuel Engine Market is valued at approximately USD 63.21 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 5.6 % over the forecast period 2021-2027. Flex Fuel Engine is designed to run on more than one fuel or mixture of fuels such as ethanol and gasoline. It can be used in passenger and commercial vehicles. The increasing environmental regulations and vehicle emission norms have led to the adoption of Flex Fuel Engine across the forecast period. For Instance: according to the World Forum Organization in 2020, stringent laws and regulations are implemented by various countries to minimize the degradation of environment. France is implementing tough vehicle laws such as tax rises for high polluting cars. The owners must pay an additional USD 14,000 on vehicles that causes emissions limits of 184g/km CO2. Limited fossil-fuel reserves enhance the market growth of flex fuel engines. Also, with the increasing demand for sustainable automotive technologies., the adoption & demand for Flex Fuel Engine is likely to increase the market growth during the forecast period. However, engine damage concerns impede the growth of the market over the forecast period of 2021-2027.
The geographical regions considered for the global Flex Fuel Engine market analysis includes Asia Pacific, North America, Europe, Latin America and Rest of the World. Europe is deemed as the significant region across the globe in terms of huge market share due to the increasing concerns towards environment, government and consumer awareness towards the adoption of ecofriendly products. Whereas, Asia-Pacific is also estimated to attain a maximum growth rate during 2021-2027. Factors such as stringent government laws and rising awareness towards sustainable development would create beneficial growth forecasts for the Flex Fuel Engine market across Asia-Pacific region.
Major market players included in this report are:
Fiat Chrysler Automobiles
Ford Motor Company
General Motors Company
Honda Motor Co., Ltd.
Mitsubishi Motors Corporation
Nissan Motor Co., Ltd.
Toyota Motor Corporation
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
E10 to E25
E25 to E85
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027
Target Audience of the Global Flex Fuel Engine Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers