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The global gasoline direct injection market is projected to attain a valuation of US$ 10.6 billion in 2023 and is expected to accumulate US$ 25.79 billion by 2033, rising at a CAGR of 9.2% during the forecast period.
Global efforts to address deteriorating ambient air quality have led to the adoption and enforcement of stricter vehicular emission regulations worldwide. These measures aim to reduce tailpipe emissions of unburned hydrocarbons, nitrogen oxides (NOx), and particulate matter (PM). Regions with advanced technologies have prioritized limiting pollutant levels to minimize carbon emissions into the atmosphere.
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The global gasoline direct injection system market is experiencing significant growth driven by increased demand for fuel efficiency, improved thermal efficiency, enhanced engine performance, stringent emissions regulations, and a growing preference for engine downsizing and vehicle weight reduction.
Manufacturers prioritize engine downsizing to enhance fuel efficiency and engine performance. For instance, Hyundai introduced the downsized engine "SmartStream 3.5 FR T-GDI" in 2021, replacing its 5.0-liter V8 engine. This growing trend of engine downsizing is expected to drive the demand for gasoline direct injection (GDI) systems in the future. Therefore, the market for GDI systems is propelled by the increasing inclination toward engine downsizing and vehicle weight reduction.
Stringent regulations have been enforced to curb harmful emissions from automobiles, compelling automakers to reduce their environmental impact. Consequently, automobile manufacturers are increasingly focusing on producing vehicles with high fuel efficiency and improved engine performance. As a result, gasoline direct injection engines are being adopted as the next-generation platform, leading to a surge in demand for these systems. This market growth is primarily driven by the increasing demand for fuel and thermal efficiency, as well as enhanced engine performance.
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Key Takeaways
United States gasoline direct injection market is expected to grow with a CAGR of 9.1% during the forecast period.
The market in Germany is expected to grow with a CAGR of 9.6% during the forecast period.
By sales channel, the OEM segment is projected to grow with an impressive CAGR of 12.9% during the forecast period.
The market in China is expected to grow with a significant CAGR of 9.8% throughout the forecast period.
“Increasing efforts by the manufacturers to downsize engines and strict regulations by the governments to reduce harmful emission is expected to bode well for market growth,” comments an FMI Analyst
Competitive Landscape
The market for gasoline direct injection is highly competitive, with numerous prominent industry players making substantial investments in their production.
The key industry players are TI Automotive (Heidelberg), STMicroelectronics, Stanadyne Holdings, Keihin, Infineon Technologies, GP Performance, Eaton, Denso, Bosch, Renesas Electronics, Magneti Marelli, Delphi Automotive, Continental AG.
Some recent developments in the market are:
In December 2021, fuel systems producer Stanadyne introduced a high-pressure gasoline direct injection (GDI) fuel injector with a 1,000-bar pressure. The injector underwent successful performance testing at Stanadyne's Gasoline Engineering Center of Excellence in Jacksonville, NC.
In October 2022, Magneti Marelli unveiled its latest advanced technologies at the international supplier’s fair (IZ held in Germany.
In 2021, Marelli Automotive Lighting Xiaogan, a subsidiary of Magneti Marelli, formed a partnership with Chang'an to establish a joint innovation center. The center aims to develop advanced technologies and enhance collaboration between Chang'an and Marelli.
In May 2021, Ferrari introduced an upgraded V12 engine for its 812 model in its limited-edition Competizione A and Competizione versions.
In February 2022, Denso Corporation utilized its expertise in the Standard Rail System (CRS) to assist global vehicle manufacturers in developing highly responsive, efficient, and reliable vehicles.
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Smoking Accessories Market Segmentation, Industry Outlook, Regional Analysis 2032….
The Global Smoking Accessories Market is anticipated to garner US$ 101 Billion while expanding at a CAGR of 4.2% during the forecast period. The market is estimated at US$ 64.3 Billion in 2021 and US$ 67 Billion in 2022. Increasing adoption of organic makeup by consumers is expected to play a salient role in driving the market during the forecast period.
The demand for smoking accessories products is increasing, owing to the increasing disposable income of the consumers. The Smoking Accessories market is dominated by the lighter segment, accounting for nearly 42% share, owing to augmenting usage among the young population.
The growing culture of smoking among the young population along with an increasing number of smoking cafes and bars across various regions is propelling the market growth. The growing demand for smoking accessories in developing countries is further expected to fuel the market growth during the forecast period. Moreover, the easy availability of smoking accessories in diverse places is also contributing to market growth.
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Key Takeaways from the Market Study:
Vaporizers to account for over 30% market revenue in the smoking accessories domain
Sales of smoking filter and paper tips to rise at a value CAGR of 4.3% from 2022 to 2032
Based on distribution channel, online sales of smoking accessories is estimated to record a 4% CAGR
Asia Pacific is likely to account for the majority share of nearly 43% as of 2022
North America is estimated to gain significant traction in the market, accumulating 38% revenue
“An exponential growth in the number of smokers and the upward trend of smoking as a style statement especially among the young population has bolstered the demand for smoking accessories,” says a FMI analyst.
Competitive Landscape
Key players in the global Smoking Accessories market include Bull Brand, BBK Tobacco & Foods, LLP, Chongz, British American Tobacco PLC, Curved Papers, Inc., Univac Furncrafts Pvt. Ltd., Imperial Brands, Republic Technologies International, Jinlin (HK) Smoking Accessories Co., Ltd, Moondust Paper Pvt. Ltd., among others. Recent key developments among players are:
In August 2021, Philip Morris-a U.S based company acquired inhaled drug pharma firm OtiTopic as s part of its Beyond Nicotine Initiative. Phillip Morris International has been known around the world mostly for its cigarette products, with brands such as global best-seller Marlboro under its umbrella.
In June 2022, Hempacco (HPCO), a maker of hemp-based cigarettes, has disclosed terms for a proposed $14M initial public offering. The company announced the plans on offering 3M shares priced between $4 and $6 per share, which would raise $14M if priced at the midpoint.
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More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the Global Smoking Accessories market presenting a historical analysis from 2017 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights based on Type (Waterpipes Smoking Accessories, Vaporizers Smoking Accessories, Rolling Paper & Cigarette Tubes, Lighters, Filter & Paper Tip Smoking Accessories, Others) by Distribution Channel (Online Sale, Offline Sale) & Region (North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America)
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