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Automotive Engine Cover Market Report
Automotive Engine Cover Market Size, Share, Trend, Forecast, & Competitive Analysis: 2017-2022
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.
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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.
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Research Scope |
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|---|---|
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Trend & Forecast Period |
2011-2022 |
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Size in 2022 |
US$ 1,292.5 million |
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Forecast |
3.2% CAGR during 2017-2022 |
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Regions Covered |
North America, Europe, Asia-Pacific, Rest of the World |
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Countries/Subregions Covered |
The USA, Canada, Mexico, Germany, France, Italy, The UK, Russia, China, Japan, India, South Korea, Brazil, Argentina and Others |
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Figures & Tables |
>150 |
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Customization |
Up to 10% customization available free of cost |
The Automotive Engine Cover Market is segmented in the following ways:
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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-
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.
For calculating the market size, our analysts follow either Top-Bottom or Bottom-Top approach or both, depending upon the complexity or availability of the data points. Our reports offer high-quality insights and are 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. We leverage multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentation, white papers, and articles to gather the data. More than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts are usually executed to obtain both qualitative and quantitative insights.
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 following are the key features of the report:
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.
Driven by a number of factors like organic growth in the automobile production owing to increasing disposable income and growing urbanization, the automotive engine cover market is projected to reach an estimated value of US$ 1,292.5 million in 2022.
In terms of region, Asia-Pacific is likely to witness the highest growth in the automotive engine cover market in the forecast period of 2017-22.
Composites are projected to remain the most dominant material type in the automotive engine cover market over the next five years.
Passenger car is expected to remain the largest segment in the automotive engine cover market in the coming years.
Increasing disposable income and growing urbanization; an advancement in the engine cover technology; and increasing demand for lightweight engine covers are the factors driving the growth of automotive engine cover market.
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