Flex Fuel Engine Market to Garner $105.11 Billion, Globally, by 2030 at 5.6% CAGR: Allied Market Research

PORTLAND, Ore., Dec. 7, 2021 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Flex Fuel Engine Market by Fuel Type (Gasoline and Diesel), Vehicle Type (Passenger Vehicles and Commercial Vehicles), and Blend Type (E10 to E25, E25 to E85, Above E85, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030". As per the report, the global flex fuel engine industry was pegged at $63.20 billion in 2020, and is expected to reach $105.11 billion by 2027, growing at a CAGR of 5.6% from 2020 to 2030.

Drivers, restraints, and opportunities

Depleting fossil-fuel reserves and strict environmental regulations and vehicle emission norms drive the growth of the global flex fuel engine market. However, engine demand concerns, development of electric and hybrid electric vehicles, and lack of flex-fuel stations hinder the market growth. On the contrary, rise in adoption of sustainable automotive technologies and surge in automotive performance on higher ethanol blends are expected to open new opportunities for the market players in the future.

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Covid-19 scenario:

• The Covid-19 pandemic resulted in country-wide lockdown and implementation of social distancing norms. Moreover, several companies adopted the work-from-home culture. This drastically declined the demand for automobiles.
• The supply chain was disrupted and manufacturing facilities were partially or completely shut down due to prolonged lockdown.

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The gasoline segment dominated the market

By fuel type, the gasoline segment held the lion's share in 2020, accounting for more than four-fifths of the global flex fuel engine market. Moreover, the segment is estimated to register the highest CAGR of 5.7% during the forecast period, owing to rise in demand for low-cost sustainable automotive technologies across the globe. The report includes an analysis of the diesel segment.

The passenger vehicles segment to manifest the highest CAGR through 2030

By vehicle type, the passenger vehicles segment is projected to manifest the highest CAGR of 5.9% from 2020 to 2030. Moreover, the segment held the largest share in 2020, contributing to nearly two-thirds of the global flex fuel engine market, owing to rise in awareness about the growing pollution and global warming scenario. The report includes an analysis of the commercial vehicles segment.

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North America held the largest share

By region, the global flex fuel engine market across North America dominated in terms of revenue in 2020, accounting for more than one-fourth of the market. However, the market across Asia-Pacific is anticipated to portray the highest CAGR of 6.5% during the forecast period, owing to rise in government regulation to reduce vehicle emissions.

Major market players

• Cummins Inc.
• Volkswagen AG
• Ford Motor Company
• General Motors Company
• Fiat Chrysler Automobiles
• Mitsubishi Motors Corporation
• Honda Motor Co., Ltd.
• Toyota Motor Corporation
• Nissan Motor Co., Ltd.
• AB Volvo

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