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Global Automotive Fuel Filler Cap Market 2019-2023 | Demand for Fuel Filler Caps in Flexible Fuel Vehicles to Boost Growth | Technavio

Technavio has announced its latest market research report titled global automotive fuel filler cap market 2019-2023. (Graphic: Business Wire)

LONDON--(BUSINESS WIRE)--

The global automotive fuel filler cap market is expected to post an incremental growth of USD 135.69 million during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report

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Countries with exceeding limits of ground ozone levels have mandated strict testing procedures for exhaust emissions as well as fuel leaks in vehicles. This is compelling vendors to employ advanced manufacturing and testing methods and techniques to test the safety of fuel filler caps under crash conditions. This is one of the key factors that will drive the growth of the global automotive fuel filler cap market.

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As per Technavio, the use of fuel filler caps in flexible fuel vehicles will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Global Automotive Fuel Filler Cap Market: Use of Fuel Filler Caps in Flexible Fuel Vehicles

Growing environmental concerns and depleting sources of conventional fuel are prompting automakers to look for other sources of energy for vehicles. This has led to the emergence of flexible fuel vehicles (FFVs) and bio-fuel vehicles. These vehicles incorporate slight modifications and changes in their engine and fuel systems to offer similar performance to gasoline-only vehicles. To differentiate these vehicles from gasoline-only vehicles, automobile manufacturers are introducing yellow fuel caps in their FFVs. A few automakers use a yellow ring in the fuel filler neck to differentiate FFVs from conventional gasoline-only vehicles. The emergence of FFVs is expected to positively impact the growth of the market during the forecast period.

“Developments in the field of automotive fuel refueling system and onboard diagnostics in automotive fuel system will further boost market growth during the forecast period”, says a senior analyst at Technavio.

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Global Automotive Fuel Filler Cap Market: Segmentation Analysis

This market report segments the global automotive fuel filler cap market by application (passenger vehicles and commercial vehicles) and geography (Americas, APAC, and EMEA).

The APAC region led the market in 2018, followed by EMEA and the Americas respectively. During the forecast period, the APAC region is expected to maintain its dominance over the market. This is due to high demand from the growing population, the availability of easy vehicle finance options, and improving road network in the region.

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.

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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Customer Landscape

Geographical Segmentation

  • Geographic comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Landscape disruption
  • Competitive scenario

Vendor Analysis

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com: https://www.businesswire.com/news/home/20191130005027/en/