Automotive Engine Cover Market estimated to grow at 3.2% CAGR in the forecast period (2017-2022)

Summary:
The report on the Automotive Engine Cover Market has been launched in July,2017 by Stratview Research is an all-inclusive report that talks about the market structure and growth in the forecast period of 2017-2022. The report also offers insights into different market segments and other factors affecting the market.

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Stratview Research’s report states about the segment-wise current market condition, and also offers an estimation about future growths. The report has been generated after accumulating data from various authenticated sources such as journals, white papers, fact book, etc. As per the estimation, Automotive Engine Cover Market is expected to inflate at impressive CAGR of 3.2% by the forecast period (2017– 2022).

As per the report, the market is segmented by:
• 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, Europe, Asia-Pacific, Rest of the World

The Table of Contents can be gone through here:
https://www.stratviewresearch.com/toc/275/automotive-engine-cover-market.html

Highlights of the Report:

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.

Key Players of the Market
The market is consolidated in nature with five major players Magna International Inc., MAHLE GmbH, Miniature Precision Components, Inc., Montaplast GmbH, Polytec Group holding together the major share in the market, with Magna International Inc. being the key player.
Other important firms are Rochling Group, The Mondragón Cooperative Corporation (MCC), Toyoda Gosei Co., Ltd.

Features of the Report

The Report discusses about the working of the engine cover, the various types, and the growth of the engine cover in the global market. Here are the key features of the report:
• Strategic Segmentation
• Competitive Analysis
• Strategic Growth Opportunities
• Swot Analysis
• Key Players
• Forecast Analysis & Future Growth

For inquiries, Contact:
Ritesh Gandecha
Stratview Research
E-mail: sales@stratviewresearch.com
Direct: +1-313-307-4176

400 Renaissance Center, Suite 2600, Detroit, Michigan, MI 48243 United States of America

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This release was published on openPR.