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Engine Encapsulation Market Analysis 2023-2032: Future Dynamics, Competitive Landscape, Growth Rate And Major Players | ElringKlinger, Autoneum, Continental AG, Roechling, Greiner
Engine Encapsulation Market
The Business Research Company's Engine Encapsulation Global Market Report 2023 identifies increase in demand for commercial vehicles as the major driver for the Engine Encapsulation Market's growth in the forecast period. Commercial vehicles are used for the transportation of goods over long distances, increasing the need for better fuel efficiency. When compared to non-automotive engine encapsulation vehicles, automotive engine encapsulation saves fuel and minimizes engine noise and heat transfer. Experimental studies show that fully encapsulated motors can maintain temperatures above 40 °C for up to 14 hours after shutting down at an ambient temperature of 20 °C. If the temperature exceeds 40 °C, the motor cools within 3 hours after shutdown.
The global engine encapsulation market size grew from $5.37 billion in 2022 to $5.86 billion in 2023 at a compound annual growth rate (CAGR) of 9.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The engine encapsulation market size is expected to grow to $7.8 billion in 2027 at a CAGR of 7.4%.
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Major competitors in the engine encapsulation market are ElringKlinger, Autoneum, Continental AG, Roechling, Greiner, Trocellen GmbH, Adler Pelzer Holding GmbH, BASF SE, Furukawa Electric, Evonik Industries AG, Hennecke GmbH, Saint-Gobain, UFP Technologies, Polytec GmbH, and DBW Advanced Fiber Technologies GmbH.
A key trend in the Engine Encapsulation Market includes New product innovation. Major companies operating in the engine encapsulation sector are focused on developing new product innovations to strengthen their position. For instance, in February 2021, BASF, a Germany-based chemicals company, developed a new heat-stabilized Ultramid B3PG6 BK23238 for the high-temperature range. This new polyamide has been reinforced with 30% glass fibers, offers a unique heat resistance of up to 190 °C, and prevents galvanic corrosion on electrical components. It is known to exhibit excellent thermal ageing performance and vibration in internal combustion engines, hybrids, or electric vehicles (EV).
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The Engine Encapsulation Market is segmented -
By Product Type: Engine-Mounted, Body-Mounted
By Material: Polypropylene, Polyurethane, Carbon fiber, Other Materials
By Fuel Type: Gasoline, Diesel
By Vehicle Class: Economic Light-Duty Vehicles, Mid-Priced Light-Duty Vehicles, Luxury Light-Duty Vehicles
By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Engine Encapsulation Market.
The Business Research Company's "Global Engine Encapsulation Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Engine Encapsulation Market Include:
1. Executive Summary
2. Engine Encapsulation Market Characteristics
3. Engine Encapsulation Market Trends And Strategies
4. Engine Encapsulation Market - Macro Economic Scenario
5. Engine Encapsulation Market Size And Growth
……
26. Africa Engine Encapsulation Market
27. Engine Encapsulation Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Engine Encapsulation Market
29. Engine Encapsulation Market Future Outlook and Potential Analysis
30. Appendix
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