Press release
Automotive Timing Cover Market is Expected to Reach Value to US$ 28.6 Bn by 2032
Automotive Timing Cover Market 2022
The automotive timing cover market is valued at US$ 18.8 Bn at present. The automotive timing cover market is expected to climb to US$ 28.6 Bn by 2032. Sales of automotive timing covers are estimated to increase at 4.2% CAGR through 2032. Increasing focus on capacity expansion and acquisitions are the key focus areas of industry players.
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During the forecast period, it is projected that the rising disposal income of end users and increased demand for vehicles across the world would drive demand for automotive timing covers.
Manufacturers are using lightweight materials to meet the demand from vehicle manufacturers for lightweight and durable covers. This is done in response to the rising trend of vehicle customization. For instance, the main raw materials used to manufacture car accessories today are lightweight materials such as high-strength steel and polycarbonate.
Key Companies-
• Nitto Performance Engineering Pty Ltd
• PROFORM
• Spectre Performance
• Holley Performance Products INC
• Cloyes
• Dorman Products
• Pioneer Automotive Industries
• Aisin Group
• KC Auto Products
• ICT Billet
• COMP Cams
• Moroso
• Ichiban Engineering
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Key Takeaways from Market Study
• By vehicle type, the passenger vehicles segment is anticipated to witness demand growth at 3.9% CAGR by volume through 2032.
• Under material type, the metal and alloys segment is projected to expand at a CAGR of 4.2%.
• By region, East Asia is anticipated to witness substantial growth in the automotive timing cover market. Sales of automotive timing covers in China are expected to increase at 3.8% CAGR in terms of volume.
• By sales channel, the OEMs segment is estimated to hold a prominent volume share of 65.6% in 2022.
"The market for automotive timing covers is being fueled by rising disposable income and shifting customer preferences toward technologically-advanced goods and appliances. Manufacturers are developing lightweight materials to utilize in the production of automotive timing covers in response to the necessity to develop fuel-efficient and lightweight vehicles," says a Persistence Market Research analyst.
Key geographies evaluated in this report are:
North America - U.S, Canada
Europe - France, Germany, Italy, Spain, and the UK, Eastern Europe, CIS
APAC - China, India, Japan, Australia, Others
Latin America - Argentina, Brazil, Others
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Key Questions Answered in This Report.
• What will the Market growth rate in Future?
• What are the key factors driving the global Market?
• Who are the key manufacturers in Market space?
• What are the opportunities and threats faced by the vendors in the global industry?
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