Automotive Engine Cover Market Growth Analysis | 2017-2022

Market Insights

"The global automotive engine cover market size was estimated at US$ 1,077.7 million in 2016 and is likely to grow at a CAGR of 3.2% during 2017-2022 to reach US$ 1,292.5 million in 2022."

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Automotive engine cover is designed for absorbing heat and reducing the heat that otherwise would have entered the bonnet of the vehicle. Plastic along with foam is one of the common materials used for the manufacturing of engine cover in order to absorb not only heat but also sound.
Automotive engine cover is a part of all types of vehicles such as passenger, heavy-duty, and others. Currently, materials such as composites and thermoplastics are also being in use.

Market Dynamics

Market Drivers

The key factors driving the market are organic growth in the automobile production owing to increasing disposable income and growing urbanization; an advancement in the engine cover technology; and increasing demand for lightweight engine covers driven by the stringent government regulations, such as CAFÉ Standards.

Key Players

The supply chain of this market comprises raw material suppliers, thermoplastic composite compounders, engine cover manufacturers, distributors, automotive OEMs, and dealers.

The key automotive engine cover manufacturers are-

• Magna International, Inc.
• MAHLE GmbH
• Polytec Group
• Miniature Precision Components, Inc.
• The Mondragón Cooperative Corporation (MCC)
• Montaplast GmbH
• Rochling Group
• Toyoda Gosei Co., Ltd.

Developing lightweight composite engine cover and forming long-term contracts with OEMs are the key strategies adopted by the major players to gain a competitive edge in the market.

Segment Analysis

Vehicle Trends

"The passenger car segment accounted for the largest market share."

The global automotive engine cover market is segmented based on vehicle type as the passenger car, light commercial vehicle, and medium & heavy-duty commercial vehicle. The passenger car is expected to remain the largest and fastest-growing segment of the automotive engine cover market during the forecast period of 2017 to 2022. The higher production of passenger cars and rising demand for lightweight engine covers are driving the growth of the segment over the next five years.

Material Trends

"The composites segment accounted for the largest market share."

The global automotive engine cover market is segmented as composites, metals, thermoplastics, and others. Composites are projected to remain the most dominant material type in the automotive engine cover market over the next five years. There has been a continuous shift from metals to composites because of their several advantages including lightweight, higher strength-to-weight ratio, higher heat resistance, and higher fatigue properties.

Manufacturing Process Trends

"The injection molding segment accounted for the largest market share."

The global automotive engine cover market is segmented as injection molding, casting, and others. Injection molding is estimated to remain the most dominant manufacturing process of the engine covers market in the automotive industry over the next five years. It is the most suitable process for manufacturing composites and thermoplastics-made engine covers. Injection molding process offers many benefits over competing processes, such as low part cycle time, ability to manufacture complex products, recyclability, good surface finish, lightweight, and an excellent strength-to-weight ratio.

Regional Insights

"Asia-Pacific accounted for the largest market share."

Asia-Pacific is expected to remain the largest automotive engine cover market during the forecast period. The region is also expected to experience the highest growth during the same period. High automobile production, the introduction of stringent government regulations, and high focus on passenger safety and fuel efficiency are some of the major factors driving the demand for the engine cover in Asia-Pacific region. Europe is expected to remain the second largest automotive engine cover market during the same period.

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Critical Questions Answered in the Report

• What are the key trends in the global market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on the global market?
• What are the key strategies adopted by the major vendors to lead in the market?
• What is the market share of the top vendors?

Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s automotive engine cover market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report, from Stratview Research, studies the global engine cover market in the automotive industry over the period 2017 to 2022. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

What Deliverables Will You Get in this Report?

The automotive engine cover market is segmented in the following ways:

By Vehicle Type:

• Passenger Car
• Light Commercial Vehicle
• Medium- & Heavy-Duty Commercial Vehicle

By Material Type:

• Metals
• Composites
• Thermoplastics
• Others

By Manufacturing Process Type:

• Injection Molding
• Casting
• Others

By Region:

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, Italy, The UK, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Argentina, and Others)

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Customization Option

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.