The global flex fuel engine market was valued at $63.21 billion in 2020, and is projected to reach $105.11 billion by 2030, registering a CAGR of 5.6%. Rest of the world was the highest revenue contributor, accounting for $21.76 billion in 2020, and is estimated to reach $36.84 billion by 2030, with a CAGR of 5.7%.
A flexible-fuel vehicle (FFV) is a vehicle having an internal combustion engine that can run on a combination of fuels, most often gasoline and ethanol. Although a flex-fuel engine can be designed to run on pure ethanol, FFVs in the U.S. are optimized to run on E85, a gasoline-ethanol blend with 51 to 83 percent ethanol, according to the U.S. Department of Energy. The actual composition of E85 varies based on region and season to ensure that the automobile can start in cold weather. Leading automakers such as General Motors, Toyota Motor Corporation, Ford Motor Company, and others have stepped up their efforts to develop flex-fuel engines for passenger and commercial vehicles, offering a significant growth opportunity for the flex-fuel engine market.
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Major Market Players:
• AB Volvo
• Cummins Inc.
• Fiat Chrysler Automobiles
• Ford Motor Company
• General Motors Company
• Honda Motor Co., Ltd.
• Mitsubishi Motors Corporation
• Nissan Motor Co., Ltd.
• Toyota Motor Corporation
• Volkswagen AG
Increased demand for carbon-neutral automobiles around the world to counter rise in global pollution levels propels the flex fuel engine market forward during the forecast period. Flex-fuels have various advantages, including domestic production capabilities and renewability, which might lessen the country’s reliance on foreign petroleum. E85 produces fewer greenhouse gas emissions and benzene emissions than gasoline, which encourages the use of flex-fuel engines. For instance, in June 2020, General Motors Company introduced the Chevrolet Silverado HD and GMC Sierra HD, both of which are equipped with Flex Fuel-capable engines that can run on E85 ethanol and gasoline. During the forecast period, such advancements are expected to fuel expansion in the flex-fuel engine market.
Key Market Segments
• By Fuel Type
• By Vehicle Type
o Passenger vehicles
o Commercial vehicles
• By Blend Type
o E10 to E25
o E25 to E85
o Above E85
The factors such as the stringent environmental regulations and vehicle emission norms, and depleting fossil-fuel reserves are expected to drive the flex-fuel engine market. However, engine damage concerns, scarcity of flex-fuel stations, and development of electric and hybrid electric vehicles are the factors expected to restrict the growth of the market during the forecast period. Moreover, the increase in adoption of sustainable automotive technologies and increased automotive performance on higher ethanol blends across the world in the coming years are the factors anticipated to supplement the flex-fuel engine market’s growth in the coming years.
The flex fuel engine market is segmented into fuel type, vehicle type, blend type, and region. Based on fuel type, it is divided into gasoline and diesel. On the basis of vehicle type, it is bifurcated into passenger vehicles and commercial vehicles. Based on the blend type, it is segmented into E10 to E25, E25 to E85, above E85, and others. Region-wise it is analyzed across North America, Europe, Asia-Pacific, and the Rest of the world.
Since flex-fuel collects dirt easily, it can cause corrosion and engine damage. Various materials, such as some types of plastic, rubber, and metals, can be corroded by ethanol. When a sensitive substance is exposed to ethanol for an extended period of time, it deteriorates. This can cause significant engine damage. Weather and moisture content affect the quality of all gasoline, however ethanol exacerbates the situation. When there is a larger proportion of alcohol in a gas tank, it can grip and hold more water than pure gasoline. If the water concentration rises high enough, the alcohol and water are expected to separate from the gasoline, resulting in a mixture that the automotive engine may not be able to use. It can happen at any point during the transit, storage, or even use process, and it can get worse as time goes on. In summary, ethanol increases the likelihood of the vehicle being damaged when attempting to process and burn contaminated fuel. Ethanol has engine cleaning qualities, so the flex-fuel cleans old deposits from engine components. However, those deposits do not dissolve easily, so they just get carried along until they get stuck, resulting in engine clogging. Furthermore, ethanol has a lower energy content per gallon than gasoline, resulting in a drop in fuel economy while using flex-fuel. According to the U.S. Department of Energy, flex-fuel vehicles typically achieve 20 to 30 percent fewer miles per gallon when using E85. Flex-fuel, often known as E85, is a mixture of gasoline and up to 85% ethanol alcohol. The market for flex-fuel engines is limited by issues regarding engine damage and fuel efficiency.
Key Benefits For Stakeholders
• This study presents the analytical depiction of the flex-fuel engine analysis along with the current trends and future estimations to depict imminent investment pockets.
• The overall flex fuel engine market opportunity is determined by understanding profitable trends to gain a stronger foothold.
• The report presents information related to key drivers, restraints, and opportunities ofthe market with a detailed impact analysis.
• The current market is quantitatively analyzed from 2020 to 2030 to benchmark financial competency.
• Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
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