Albany, NY -- (SBWIRE) -- 05/01/2018 -- The global automotive intake manifold market is being fueled by strict government regulations that are coaxing automobile manufacturers limit the weight of the vehicle. An automotive intake manifold is an integrated assembly which is placed atop the vehicle's engine. It includes several tubes that ensure even distribution of fresh air to all the cylinders. The rapid rise in the vehicle production across the globe is projected to augment the demand for automotive intake manifolds in the coming years. According to the research report, the opportunity in the global automotive intake manifolds market is expected to be worth US$58.7 bn by the end of 2024 as compared to US$42.7 bn in 2015. During the forecast years of 2016 and 2024, the global market is projected to progress at a CAGR of 3.6%.
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The increasing sophistication in the development of modern automobile engines has been the key factor influencing the demand for automotive intake manifolds across the globe. Further, shorter model cycles, consumption specifications, and emission regulations have also been pivotal to the development of improved automotive intake manifolds. The market is also projected to benefit from the strict government policies and regulatory framework such as The Corporate Average Fuel Economy (CAF?‰) Standards that have been implemented to restrict the weight of vehicles. Such supportive regulations are projected to boost the demand for automotive intake manifolds in the near future. All of these factors are projected to catapult the adoption of automotive intake manifolds during the forecast period.
On the basis of materials used for making automotive intake manifolds the market is segmented into plastic, aluminum, and composites. The study indicates that aluminum held the dominant share in 2015 as it is an excellent material that adds the least amount of weight to the final product. Aluminum is also being used as it completely eliminates the chances of rusting. However, the stringent regulations are gradually pushing the automotive industry to opt for lighter materials such as composites, plastics, and magnesium in the production of automotive intake manifolds. Analysts anticipate that the composites segment will witness significant momentum in the coming years as it is gaining widespread popularity.
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Automotive intake manifolds are used in vehicles such as passenger vehicles, heavy commercial vehicles, and light commercial vehicles. As of 2015, passenger vehicles held a significant share in the global market. The various vehicles under this category are sports-utility vehicles, multi-utility vehicles, sedans, and hatchbacks.
In terms of geography, the global automotive intake manifolds market is segmented into the Middle East and Africa, North America, Europe, Asia Pacific, and South America. Asia Pacific held a significant share in the global automotive intake manifold market in 2015.
The primary factors fuelling the growth of Asia Pacific market are rapid technological innovations and considerable investments in the automotive manufacturing industry. Additionally, the rising demand for passenger vehicles and light commercial vehicles across the region is also boosting the production of vehicles, which has created a significant demand for automotive intake manifolds. Analysts anticipate that Europe followed the Asia Pacific market closely in 2015. Collectively, these regions held a whopping share of 65% in the global market in 2015.
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The key players operating in the global automotive intake manifolds market are Mann+Hummel Group, MAHLE GmbH, Aisin Seiki Co., Ltd., Magneti Marelli S.p.A., and Röchling Group among others.