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Automotive Air Intake Manifold Market
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Automotive Air Intake Manifold Market is estimated to reach US$ XX Bn by 2026 in terms of revenue at CAGR of XX % in the forecasting Period. Substantial vehicle production across the globe will primarily drive the automotive air intake manifold market over the forecast timeframe. Large scale usage in passenger cars, light and heavy commercial vehicles will lead to increased revenue generation. The global automobile production is expected to cross 135 million units over the next eight years, thus escalating the industry demand.
High acceptance from passenger vehicles will have a positive impact on the automotive air intake manifold market growth over the forecast timespan. Emerging economies such as Indonesia, China, and India have witnessed a tremendous rise in passenger cars production, thus supporting the high revenue generation. Stringent regulations and norms regarding CO2 emissions and fuel economy will further support the industry growth till 2024. However, significant overhead expenditure for manufacturers coupled with low product replacement rate may hamper the industry growth over the coming years.Automotive Air Intake Manifold MarketThe Automotive Air Intake Manifold market is segmented based on vehicle, material, manifold, manufacturing process, distribution channel and geography. By vehicle of the Automotive Air Intake Manifold market is segmented into passenger vehicles (PCV), heavy commercial vehicles (HCV), light commercial vehicles (LCV), and a sportscar. Under this, PCV is expected to hold the major market share in the forecast period. The growth rate is driven by rapid urbanization coupled with high demand for sedans and SUVs is anticipated to support the automotive air intake manifold market dominance.
Geographically, the Automotive Air Intake Manifold market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. Asia-Pacific is expected to be the largest market for Automotive Air Intake Manifold during the forecast period owing to rising automobile production across the region, especially in emerging economies including China, India, and Indonesia. Availability of cheap labour and raw materials will further fuel the regional growth of automotive air intake manifold market till 2024.
China, India and Japan are leading in lightweight commercial vehicle production as it is cost effective and is affordable to a large part of the population. India remains the world’s sixth largest automotive manufacturer in volume units. Europe is projected to be the fastest growing market for Automotive Air Intake Manifold with growth in the automotive infrastructure across the region.
Key player across the Automotive Air Intake Manifold industry are Tenneco Inc., MAHLE Gmbh, Aisin Seiki Co. Ltd., and Keihin Corporation. Industry players are focusing on geographical expansion for strengthening their foothold. For instance, In May 2016, Röchling Group commissioned its first plant in Mexico. As the country is ranked seventh in the global automobile market, it was necessary to construct a new facility to expand its reach. Later that year, in August, the company established a joint venture with an automotive component manufacturer, Starlite Co. Ltd. in Japan to strengthen the international profile and increase the product penetration in the Asia Pacific.
This information is given by market research company (maximize market research)
For more information visit - https://www.maximizemarketresearch.com
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