Flex fuel vehicles enable use of blends of gasoline and ethanol or methanol fuels. The primary advantages of flexfuel vehicles include reduced emissions, increased fuel economy, and reduced dependence on petroleum imports. Flexfuels allow the driver to choose between gasoline or gasoline-ethanol blended fuel depending upon fuel availability and pricing.
The global Flexfuel Market is estimated to be valued at US$ 93.57 Bn in 2023 and is expected to exhibit a CAGR of 15% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The widening range of Flexfuel vehicles is driving the market growth. Major automakers such as General Motors, Volkswagen, Ford and Fiat are now offering wider choices of Flexfuel models across different vehicle segments including passenger cars, SUVs and pickup trucks. Consumer demand for greener fuel alternatives and flexibility in fuel choice is encouraging OEMs to expedite Flexfuel vehicle production. General Motors is a leader in this segment, with its range of E85 Flexfuel compatible vehicles such as Chevrolet Silverado and GMC Sierra pickup trucks. The company aims to introduce 30 new Flexfuel models by 2025. Similarly, Ford offers a range of Flexfuel pickup trucks and SUVs. This wider consumer choice is creating significant growth opportunities for the global Flexfuel market during the forecast period.
Segment Analysis
The global flexfuel market can be segmented on the basis of fuel type and vehicle type. Based on fuel type, the ethanol segment dominates the market. Ethanol is the most widely available biofuel across the globe. It can be produced from various starch and sugar-based feedstock such as corn, sugarcane, and wheat. Ethanol flexfuel vehicles have higher preference among consumers due to ease of availability of E85 ethanol pumps.
Key Takeaways
The Global Flexfuel Market Demand is expected to witness high growth. Growing environmental concerns regarding vehicular emissions and depleting fossil fuel reserves are encouraging greater adoption of biofuels. Flex fuel vehicles that can operate on different mixtures of gasoline and ethanol provide an effective solution. The global Flexfuel Market is estimated to be valued at US$ 93.57 Bn in 2023 and is expected to exhibit a CAGR of 15% over the forecast period 2023 to 2030.
Regional analysis North America dominates the global flexfuel market currently. The large availability of ethanol pumps in countries like the US and flexible government policies support the use of biofuels. Brazil is another major market owing to its sugarcane-based ethanol production. The Asia Pacific region is expected to witness fastest growth in the forecast period with risingflexfuel vehicle sales in India and China.
Key players operating in the flexfuel market include Poet, DuPont, Advanced Biofuel, Verbio and CropEnergies. Poet is one of the largest ethanol producer in the world with production facilities across the Midwestern United States. It has partnered with several automakers to increase availability of flexfuel vehicles compatible with E85 fuel.
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The Global Automotive Flex Fuel Engine Market is expected to exhibit a strong 6% CAGR over the forecast period till 2023, according to the latest research report from Market Research Future (MRFR).
The report provides a greatly detailed profile of the global automotive flex fuel engine market and gives readers an all-inclusive overview of the market.
The past, present, and future of the market are studied in the report, with detailed historical analysis, present statistics, and future projections.A comprehensive analysis of the leading players in the automotive flex fuel engine market is also provided in the report, which profiles the major players operating in the market.
The major factors and trends affecting the global automotive flex fuel engine market are assessed in the report.
The impact of the COVID-19 pandemic on the automotive flex fuel engine market is also assessed in the report.Top Companies profiled in Automotive Flex Fuel Engine Market Research Report: Mitsubishi Motors Corporation, Volvo Cars, Fiat Chrysler Automobiles, Audi, Toyota Motor Corporation, Nissan Motor Co. Ltd., Honda Motor Co. Ltd., General Motors Company, Volkswagen, and Ford Motor Company.
Regional Analysis: North America is likely to dominate the global automotive flex fuel engine market over the forecast period.
In this report, our team offers a comprehensive analysis of Flex Fuel Engines market, SWOT analysis of the most prominent players in this landscape.
Along with an industrial chain market statistics in terms of revenue, sales, price, capacity, regional market analysis segment-wise data and market forecast information are offered in the full study, etc.
Download Free Sample Report @ https://www.radiantinsights.com/research/global-flex-fuel-engines-market-2020-2026/request-sample This report focuses on top manufacturers in global market, Involved the assessment of Sales, price, revenue and market share for each manufacturer, covering• Ford• Honda• Volkswagen• Nissan• General Motors• Kia Motors• Mitsubishi• Fiat• Hyundai• Renault• Toyota• Peugeot On the basis of product, this report displays the Sales, revenue, price, market share and growth rate of each type, primarily split into• Compact-size• Mid-size• Full-size By Application, this report focuses on Sales, Market share and Growth Rate of each application, can be divided into• Passenger Cars• Commercial Cars By Regions, this report splits global market into several key regions, with Sales, Revenue, Price and Gross Margin market share of top players in these regions, from 2014 to 2026 (forecast), like• China• USA• Europe• Japan• Korea• India• Southeast Asia• South America Browse Full Research Report with TOC @ https://www.radiantinsights.com/research/global-flex-fuel-engines-market-2020-2026 Table of Contents Global Flex Fuel Engines Market Professional Survey Report 20191 Report Overview1.1 Definition and Specification1.2 Manufacturers and Region Overview1.2.1 Manufacturers Overview1.2.2 Regions Overview1.3 Type Overview1.3.1 Compact-size1.3.2 Mid-size1.3.3 Full-size1.4 Application Overview1.4.1 Passenger Cars1.4.2 Commercial Cars1.5 Industrial Chain1.5.1 Flex Fuel Engines Industrial Chain1.5.2 Upstream1.5.3 Downstream 2.1 The Overall Market Performance(Volume)2.1.1 Compact-size2.1.2 Mid-size2.1.3 Full-size2.2 The Overall Market Performance(Value)2.2.1 Compact-size2.2.2 Mid-size2.2.3 Full-size 3 Global Flex Fuel Engines Market Assessment by Application3.1 Overall Market Performance (Volume)3.2 Passenger Cars3.3 Commercial Cars Continued… Read all Reports of this category @ https://www.radiantinsights.com/catalog/machinery About Radiant InsightsRadiant Insights is a platform for companies looking to meet their market research and business intelligence requirements.
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Market Research Future (MRFR) has published a research report about the global automotive flex fuel engine market that infers boost for this market with 6% CAGR (Compound Annual Growth Rate) between 2018 and 2023.The major market factors driving the growth of the global automotive flex fuel engine market include the advantages of flex-fuel engines that include easy to start, flexible, fuel mixture sensor, reduced petroleum content, reduced emissions, and resource saving.
Other important market drivers are advanced power systems for vehicles, cleaner alternative fuels, depleting natural sources of diesel, rising vehicle emission norms, and stringent environmental regulations.
However, the high production cost of ethanol can hinder the market growth.The global automotive flex fuel engine market has been segmented on the basis of engine capacity, fuel, vehicle type, and lastly, region.
With regards to engine capacity, this market has been segmented into compact-size and full-size.
By vehicle type, the market has been segmented into the commercial vehicle and passenger car.The regional segmentation of the global automotive flex fuel engine market segments the market into continent-based regional markets known as North America, Europe, Asia Pacific, and rest of the world (RoW).
Being the largest regional market, North America is expected to dominate the global market share during the forecast period due to an increase in demand of fuel-efficient vehicles in countries like the United States of America (USA) and Canada.
