Global Automotive Engine Cover Market – Set to reach US$ 1,292.5 million in 2022

Stratview Research experts have done an extensive study of data from different sources and have analyzed them to come up with the Automotive Engine Cover Market report. The report offers insight into the current market trend and the future estimations.
The report on Automotive Engine Cover Market, published on Jul 2017 by Stratview Research, will showcase the market trend of 2011-2016 and forecast period of 2017-2024.

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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 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.

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The report on Automotive Engine Cover Market is explained segment-wise for a better understanding of the market trend.

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.

Salient Features of the Report
The Stratview Report will offer you a detailed view the growth of the global automotive engine cover market and the future prospects of the market. Here are the key features of the report:
• Strategic Segmentation
• Competitive Analysis
• Strategic Growth Opportunities
• Swot Analysis
• Key Players
• Forecast Analysis & Future Growth

What we offer?
The global market research company, Stratview Research has been dealing with different market research reports in different sectors such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas. The team consists of the best experts who are known to offer the best assessments and screenings so that the interested companies can afford to rely upon and take corrective decisions ahead.

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