Automotive Engine Cover Market
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.
The Global Automotive Engine Cover Market: Highlights
The global automotive engine cover market was valued at US$ 1,077.7 million in 2016 and is likely to grow at a 3.2% CAGR over the next five years to reach US$ 1,292.5 million in 2022. 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.
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.
Based on the material type, 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.
Based on the manufacturing process, 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.
Based on regions, 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.
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, and 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.
This report offers high-quality insights and is the outcome of 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 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. About 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts have been executed to obtain both the qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
The global automotive engine cover market is segmented into the following categories.
Global Automotive Engine Cover Market by Vehicle Type
Global Automotive Engine Cover Market by Material Type
Global Automotive Engine Cover Market by Manufacturing Process Type
Global Automotive Engine Cover Market by Region
Report Customization Options
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