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The fuel consumption and greenhouse gases produced greatly influence an automobile's environmental impact. The adverse effects of automotive emissions on climate change and human health have increased the push for more eco-friendly vehicles. The extraction of gasoline fuel is also an energy-intensive process that can damage local ecosystems. Growing innovation in unconventional fuel sources has increased the focus on the ecological impacts of conventional fuel-powered vehicles. This factor is expected to fuel the development of flexible fuel vehicles (FFV). Flex-fuel vehicles have an internal combustion engine designed to operate on more than one fuel, only gasoline or a blend of gasoline and ethanol up to 83% (E85). Modifications to the fuel pump and fuel injection system are provided to compensate for the different chemical properties & energy content in ethanol, which ensure the seamless operation and durability of the engine. E85, which helps reduce hydrocarbon emissions and improves the octane rating resulting in improved acceleration performance and high output of vehicles. This is expected to increase the widespread adoption of FFVs. Stringent emission norms, coupled with depleting natural sources of gasoline, which is expected to be a major driver for the growth of flex-fuel vehicles.
Key Market Driver -
Need to reduce dependency on non-renewable energy sources and strict emission norms is expected to drive the growth of this market.
Key Market Restraint -
Lower fuel economy of FFVs and concerns over engine damage as ethanol absorbs dirt easily is expected to restrain the growth of this market.
Lower fuel economy of FFVs owing to the lesser energy content of ethanol is expected to restrain the growth of this market. Concerns over corrosion and damage to the engine as ethanol absorb dirt easily are also likely to restrain the growth of this market.
Globally, the flexible-fuel vehicle (FFV) market has been segmented by fuel type and by vehicle type. By fuel type, the market is segmented into gasoline flex fuel and diesel flex-fuel. The gasoline flex-fuel segment is projected to dominate the market owing to increased consumer inclination towards eco-friendly vehicles, existing technological advancements, and a high rate of adoption of FFVs in developing regions. The diesel flex-fuel segment is also anticipated to show steady growth in the market owing to greater research and development by manufacturers to increase the blend quantity for diesel and sustained adoption of this technology in the heavy-duty pickup applications. By vehicle type, the market is segmented into passenger cars and commercial vehicles. The passenger car segment is anticipated to show significant growth in this market over the forecast period. An increase in automotive production, rising emission standards in developing regions, and benefits of ethanol, such as complete fuel combustion and reduced carbon monoxide emissions are likely to propel market growth in this segment. The commercial vehicle segment is also projected to show good growth in this market, owing to the presence of key manufacturers investing heavily to develop suitable solutions for long-haul transport vehicles.
The major companies in the global flexible-fuel vehicle market include Ford Motor Company, General Motors Company, Nissan Motor Co. Ltd., Volkswagen AG, Honda Motor Co. Ltd., Robert Bosch GmbH, Fiat Chrysler Automobiles, Volvo Cars among others.
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Geographically, the flexible fuel vehicle market is segmented into North America, Europe, Asia-Pacific, and the rest of the world. North America holds the largest market share owing to the early adoption of this technology, stringent regulations over greenhouse gas emissions, and the presence of key manufacturers in this region. Asia-Pacific is projected to show significant growth in this market owing to increased demand for alternative fuel vehicles and the need to improve existing air quality in countries such as China and India. Europe is also expected to show steady growth in this market over the forecast period. Increased consumer awareness of the negative impact of emissions has enabled OEMs to develop viable solutions for this technology.
By Fuel Type
By Vehicle Type
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