New York, June 14, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Fuel Injection Systems Global Market Report 2023" - https://www.reportlinker.com/p06466586/?utm_source=GNW
The global fuel injection systems market is expected to grow from $72.12 billion in 2022 to $81.52 billion in 2023 at a compound annual growth rate (CAGR) of 13.03%.The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many every markets across the globe. The market is expected to reach $124.96 billion in 2027 at a CAGR of 11.27%.
The fuel injection systems market consists of sales of direct injection, throttle body injection, semi-direct injection, pump-line-nozzle, unit injector, single-point fuel injection, multi-point fuel injection, sequential fuel injection, and direct fuel injection.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
A fuel injection system refers to a mechatronic circuit consisting of mechanical and electronic circuits that are used to inject fuel into the engine cylinders while accurately adjusting injection time, fuel atomization, and other characteristics.
Asia-Pacific was the largest region in the fuel injection systems market in 2022. The regions covered in the fuel injection systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of components in fuel injection systems are electronic control units, fuel injectors, pressure regulators, sensors, and fuel pumps.Electronic control unit refers to a tiny component of a car’s body in charge of managing a particular operation and it is used in fuel injectors, which control the injection of gasoline and, in gasoline engines, the ignition timing of the spark.
Major vehicle types that use fuel injection systems are two-wheelers, passenger vehicles, heavy vehicles, and others and are used in different engine types such as gasoline, petrol engine, diesel engines, and other engine types with various technologies such as direct and multi-point. These are distributed via different sales channels such as original equipment manufacturer (OEM) and aftermarket.
Increasing vehicle production is expected to propel the growth of the fuel injection systems market going forward.A vehicle refers to any mode of transportation or conveyance in which someone travels or something is carried or conveyed.
Fuel injectors are used to inject fuel into the engine cylinders while accurately adjusting injection time and fuel atomization and driving it directly into the combustion chamber at the precise period. For instance, in April 2022, according to the European Automobile Manufacturers Association, a Belgium-based lobbying and standards group for the automobile industry, around the world, 79.1 million automobiles were produced in 2021, a 1.3% rise from 2020. Therefore, the increase in vehicle production is driving the growth of the fuel injection systems market.
Product innovation is a key trend gaining popularity in the fuel injection systems market.Most of the companies operating in the fuel injection systems market are innovating to sustain their position in the market.
For instance, in December 2021, Stanadyne LLC, a US-based manufacturer of fuel pumps and fuel injectors for diesel and gasoline engines, launched 1000 Bar GDI to provide customized best-in-class solutions for homogeneous and stratified direct injection engines.Stanadyne’s 1000 Bar GDI fuel injector offers an effective magnetic architecture of the injector and provides exceptional feedback for unheard-of fuel management using a special armature design that considerably reduces over-fueling during the injection-opening action.
Additionally, the power group’s modular systems architecture allows for quick and seamless transitions between different connector designs.
In January 2020, HEINZMANN GmbH & Co.KG, a Germany-based supplier and development partner of engine management solutions for combustion engines, generators, and turbines acquired Giro Engineering Ltd for an undisclosed amount.
Through this acquisition, HEINZMANN GmbH & Co.KG aims to provide a wide range of high-quality equipment to engine builders and MRO (maintenance, repair, and operations) organizations.
Giro Engineering Ltd is a UK-based company operating in fuel injection systems.
The countries covered in the fuel injection systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The fuel injection systems market research report is one of a series of new reports that provides fuel injection systems market statistics, including fuel injection systems industry global market size, regional shares, competitors with a fuel injection systems market share, detailed fuel injection systems market segments, market trends, and opportunities, and any further data you may need to thrive in the fuel injection systems industry. This fuel injection systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06466586/?utm_source=GNW
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