LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global flex-fuel engine market report. This research report also lists seven other prominent vendors that are expected to impact the market during the forecast period.
The flex-fuel engine market, in terms of volume, reached 2.14 million units in 2015, which will reach 2.49 million units in 2020. The key characteristic of flex-fuel vehicles is that they are capable of functioning with a mixture of fuels such as gasoline and ethanol. Ethanol is playing a major role in helping to reduce emissions from many of the gasoline-powered cars on the road. Ethanol allows complete fuel combustion. When mixed with gasoline it reduces exhaust emission of carbon monoxide.
Another benefit of flex-fuel is that it is an alternative solution to oil. Ethanol can be produced from sugarcane, corn, or cellulose, which is more viable than imported oil from a foreign country. Oil prices are subject to volatility. A significant amount of tax benefits is provided to users of flex-fuel vehicles in Brazil and the US. The flex-fuel credit also reduces and removes the tax paying obligation for flex-fuel users.
Competitive vendor landscape
“The global flex-fuel engine market includes many prominent vendors and other prominent vendors with products that have a wide scope of applications. There is an increasing demand for alternative fuels due to the increase in global emissions of GHG,” says Praveen Kumar, a lead powertrain analyst from Technavio.
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Top five flex-fuel engine market vendors
Ford
Ford manufactures and distributes automobiles worldwide. It provides vehicles under the brand Ford and Lincoln. Ford offers engine packages specifically prepared for conversion to run on CNG and LPG (liquefied petroleum gas) on its vehicles targeted to the commercial fleet market. Its gaseous-fuel-prepped engines include hardened components such as valves and valve seats, which can resist high operating temperatures and low lubricity of gaseous fuels.
Volkswagen
Volkswagen functions through two divisions: automotive and financial services. The company, through its automotive division develops, produces and sells passenger cars, commercial vehicles, trucks, and buses. The financial services division deals with customer services. The segment also deals in the field of financing, leasing, insurance, and fleet business. Volkswagen offers car brands such as Audi, Skoda, Seat, Bentley, Porche, Scania, and Man.
General Motors
The company along with its subsidiaries, designs, manufactures, and markets a wide range of cars, trucks, and automobile parts and components across the world. It also provides automotive financing services through its US-based subsidiary GM Financial.
Honda
Honda is involved in the development, manufacturing, and distribution of motorcycles, automobiles, and power products such as generators and farm machinery. The company produces a range of motorcycles varying from engine displacement of 50 cc class to the 1,800-cc class. It manufactures a range of power products comprising general-purpose engines, water pumps, lawn mowers, tillers. Honda has its subsidiaries located in countries such as Japan, US, Canada, UK, Germany, Brazil, and Thailand.
Nissan
Nissan is involved in the manufacturing, sales, and related business of automotive products and marine equipment. The company's segments include automobile and sales financing. Nissan manufactures vehicles in approximately 20 countries and areas worldwide including Japan. The company offers products and services in over 160 countries and areas across the world and sells 60 models under the Nissan, Infiniti, and Datsun brands. Nissan has a geographic presence in countries such as North America, Europe, Asia, and ROW.
Browse Related Reports:
- Global Fuels Market 2016-2020
- Global Dual Fuel Engine Market 2016-2020
- Global Biofuels Market 2016-2020
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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