In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
Automotive intake manifold are used for the internal distribution of fuel and air mixture for combustion to each intake port in the cylinder head. These intake manifolds are an essential part of automotive combustion system be it in traditional automotive prototypes or the new computer controlled models. The growing number of timeworn on road vehicles is increasing the demand for aftermarket automotive intake manifolds across the developing regions. Automotive air intake manifold also offers integration of charged air coolers and high heat resistance which makes them the attractive choice for combustion systems. The even distribution of air and fuel helps in increased performance and optimized efficiency of the engine. Moreover, automotive intake manifolds also serve as mount for other components in the vehicle such as, fuel injectors, carburetor, throttle body and others. The intake manifold were traditionally made from cast iron and aluminum, however plastic composites usage has been slowly gaining popularity in the recent past.
Automotive Intake Manifold Market is anticipated to record a CAGR of 4.1% over the forecast period. Automotive intake manifold is expected to reach the value of USD 23 billion at the end of the forecast period. Many multi-national companies are concentrating towards new product advances in automotive intake manifold. Moreover, the many advantageous properties of automotive intake manifold are exploited in the field of automotive combustion every now and then. New applications for automotive intake manifold are discovered through product advancements which are expected to drive the automotive intake manifold market rapidly.
Currently the global automotive intake manifold market is observing vibrant growth owing to increasing demand of higher automotive fuel efficiency in the market. Advances in automotive industry in the past few years and growing technological explorations are projected to drive automotive intake manifold market besides the wide range of functions of automotive intake manifold in an immense range of uses such as automobile ancillary power to drive auxiliary systems and more during the forecast period. On the basis of regional platform, global Automotive Intake Manifold market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
As a precursor to fuel supplier to the cylinders in automobiles, North America is panned to observe substantial automotive intake manifold market growth due to rising automotive intake manifold usage in growing automotive industry sales. North America is expected to be followed by Asia Pacific in terms of consumption due to expanding automotive intake manifold requirements in increasing travel and logistics companies. On the back of multiplying automotive intake manifold uses in growing automotive industry and increasing trend of motorization across the region, Asia Pacific is budding as a regional automotive intake manifold and its derivatives consumption market.
Europe is expected to drive demand and positively impact automotive intake manifold market growth over the forecast period owing to increasing automotive intake manifold application for better engine performance and efficiency. However, weak economic conditions in countries such as Russia, Spain and others is expected to showcase a more modest growth of the automotive intake manifold market across the region over the forecast period.
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Our-in depth analysis of the global Automotive Intake Manifold market includes the following segments:
Global Automotive Intake Manifold Market is further classified on the basis of region as follows:
The growing disposable income of the present population is surging the demand for customization in automobile industry with rising demand for customized automotive intake manifold. The use of vacuum intake manifold in emission control devices, ignition advance, power brake assistance, cruise control and more is anticipated to contribute significantly in the growth of the automotive intake manifold market. Rapid economic development with thriving manufacturing sector is expected to boost the automotive intake manifold market in the developing regions. Moreover, increasing technological advancements and rising trends towards further customization is anticipated to drive the automotive intake manifold market over the forecast period across the globe. Increasing on-road automobile numbers along with the rising trend of motorization among the current population is driving the automotive intake manifold market significantly at present and is expected to impact the market strongly during the forecast period. Furthermore, the automotive intake manifold market is expected to grow on the back of increasing aftermarket sales of the components on account of old and wearied automobile upgrades around the globe.
However, overhead cost constraints associated with the manufacturing of automotive intake manifolds as well as fluctuating commodity prices can result in slow down of the automotive intake manifold market over the forecast period.