ALBANY, New York, July 11, 2019 /PRNewswire/ -- A recently published report by Transparency Market Research gives an insightful outlook on the global automotive intake manifold market. According to the findings of the report, the automotive air intake manifold market is projected to develop with a steady CAGR of 3.6% over the course of the given forecast period of 2016 to 2024. With this growth rate, the valuation of automotive air intake manifold market will touch the US$58.7 Bn mark. This growth, when achieved, will be a considerable development from the initial valuation of US$42.7 Bn reported in 2015.
The report predicts the global automotive intake manifold market to have a fragmented competitive landscape. This fragmentation is due to the recent emergence of new players. Some of the key players in the passenger vehicles intake manifold market include names such as Röchling Group, Magneti Marelli S.p.A., Mann+Hummel Group, Aisin Seiki Co., Ltd., and MAHLE GmbH among others. The companies across the market are now focusing on building strong customer relations with the aftermarket suppliers and automotive OEMs. The idea behind this is to expand the current geographical presence of the companies.
In addition to this, manufacturers in the global automotive intake manifold market are concentrating more on the research and development activities to offer compact engine assemblies at a low cost. The companies are also introducing new prototypes through Auto Expo Fairs and other similar events. They also have heavily relied on media and communications to promote their activities and developments in the commercial vehicles intake manifold market. One such notable development that was recently reported was the acquisition of Seccua Holding AG by Mann+Hummel Group in July 2019.
Supportive Regulatory Frameworks Are Boosting the Development of the Market
There are different factors that are positively affecting the growth of the global automotive intake manifold market. One such important growth factor is the growing sophistication in the production of modern automobile engines. These engines are highly efficient, compact, and have better air filtration systems. In addition to this, governments across the world are introducing strict regulations related to emissions, consumption specification, and model cycles. This is also driving the growth of the passenger vehicles intake manifold market.
The regulatory bodies are framing policies such as The Corporate Average Fuel Economy (CAFÉ) Standards to put restrictions on the weight of vehicles. Such supportive regulatory frameworks are also helping the automotive intake manifold market to grow at a steady pace over the course of the given forecast period. Furthermore, automotive sectors have seen considerable growth in the demand for plastics as they are considerably lighter and flexible compared to the traditional elements. This in effect is helping the automotive intake manifold market to grow and achieve greater fuel efficiency.
Rising Prices of Aluminum and Stainless Steel to Hamper Market Growth
The above-mentioned growth of the global automotive intake manifold market is encouraging the automobile industry. It will help in developing fuel-efficient vehicles that will ultimately lead to the conservation of the environment. However, there are some factors that are slowing down the growth of the commercial vehicles intake manifold market. One primary restraining factor is the considerable increase in the prices of stainless steel and aluminum. The prices of aluminum have experienced a constant and heavy surge in recent years. This has had a significant impact on the production and sales of automobiles. Fluctuating costs of raw materials is also a big reason behind the slowing down of growth of the global automotive intake manifold market.
This review is based on the research report published by Transparency Market Research titled, "Automotive Intake Manifold Market (Material - Aluminum, Plastic, and Composites; Vehicle - Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024"
The automotive intake manifold market is segmented as follows:
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