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Automotive Air Intake Manifold Market for Heavy commercial vehicles (HCVs) is anticipated to grow at over 5.7% CAGR To 2024

Author : Ronak Bora | Published Date : 2019-04-02 

Automotive air intake manifold market from aftermarket accounted for over USD 6 billion in 2016 and will exhibit highest CAGR over the forecast timeframe. Dependence on the customer preference towards cost and quality of the product. Lesser cost as compared to OEMs will primarily drive the industry growth till 2024.

Rising demand for passenger vehicles is anticipated to drive the industry demand in developing countries such as India, China, and Indonesia. Steady growth in world economy is encouraging the international import/export. This further results in increasing national and international freight transportation, escalating the demand for heavy commercial vehicles.

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Automotive air intake manifold market for LCVs are anticipated to exhibit over 5% CAGR over the forecast timeframe owing to increasing online business resulting in increasing express, packaging, and courier services. The turnover of LCVs in Germany for 2015 grew by 4% to almost 244,000 units.

EFI contributed for over 17% of the total revenue share and will be witnessed as the fastest growing segment over the next eight years. Increasing adoption of these systems in automobile engines will support the automotive air intake manifold market growth. Dual plane manifolds will dominate the industry with almost 60% revenue share.

Automotive Air Intake Manifold Market for HCVs accounted for over USD 3 billion in 2016 and is anticipated to exhibit over 5.5% CAGR over the forecast timeframe. Rising usage of commercial vehicles for commodities transportation will support the high revenue generation till 2024. The sales of these vehicles in U.S. in 2016 recorded an increase of 10% than 2015. Heavy commercial vehicles sales in India for 2016 grew by over 25% due to rising FDIs for infrastructural developments and expansion of infrastructure. Rising demand for these HCVs will escalate the product penetration over the coming years.

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Casting captured over 44% revenue share in 2016 and is expected to witness over 5% CAGR over the forecast timeframe. Adequate protection & packaging, shipping constraints, final component standards, weights, and shelf-life of the protective coatings play a key role in casting. Automotive air intake manifold market for Injection molding is anticipated to overtake casting due to its efficiency of mass production for small and medium sized complex components.

Aluminum accounted for over USD 13 billion in 2016 and is anticipated to exhibit highest revenue share in automotive air intake manifold market over the next eight years. usage of aluminum results in weight reduction and ensures high strength. Magnesium is expected to exhibit highest CAGR owing to its enhanced features than its counterparts.

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MANN+HUMMEL, Donaldson, MAHLE, and Rochling Group are among the prominent players in the automotive air intake manifold market. Partnerships and collaborations are the key strategies adopted by the industry participants. They are involved in forward integration involving distribution and manufacturing of the product. Automotive air intake manifold market has showcased exponential growth due to enhanced quality products at less cost coupled with rising trend of Do-It-Yourself (DIY) activities. Introduction of these innovative products help the growth of aftermarket and will drive its sales across the globe.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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