Automotive Engine Cover Market Industry Outlook, Analysis, Future Plans And Growth Factors

15.09.2023: Automotive Engine Cover Market is expected to reach USD 1,292.50 Mn. by 2026, at a CAGR of 3.2% during the forecast period.

Automotive Engine Cover Market Report Scope and Research Methodology

Report Scope:

This comprehensive Global Automotive Engine Cover Market report provides a detailed analysis of the industry, market, and key players. It covers both the demand and supply sides, segmenting the market by various criteria. The report also offers insights into market trends, technology, investments, and competitive landscapes.

Research Methodology:

The findings of this report are based on a rigorous research methodology that combines primary and secondary research. Market leaders, followers, and disruptors were identified through secondary research, while primary research included interviews with industry experts and decision-makers. The report incorporates historical data, industry-validated statistics, and technological advancements to form the basis for market forecasts and strategies.

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What are Automotive Engine Cover Market Dynamics?

The growing focus on improving the average fuel economy of vehicles and the global shift toward lightweight vehicles are driving the growth of the automotive engine cover market. Increased sales of internal combustion (IC) engines and the subsequent use of engine covers are contributing significantly to market expansion. According to ASME, the engine cover market held a market share of approximately $1.2 billion. However, the high maintenance costs and replacement charges for engine covers, as well as rising raw material costs, particularly for metals like steel and aluminum, are restraining market growth.

Opportunities in the market arise from increasing adoption and technological innovations in the automotive sector and rising incomes among the working class in emerging economies. Manufacturers are also exploring advanced materials like flexible PU foam, which offers benefits such as thermal resistance, economic manufacturing, mechanical dampening, noise reduction, and dimensional stability.

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Automotive Engine Cover Market Segmentation?

Composite Material Segment Dominates the Market:

Composite materials, made by combining various metals or utilizing carbon-based products, have gained popularity in the automotive industry due to their stability. Carbon composite materials, in particular, have become widely used for engine covers due to their ability to absorb engine loads and withstand high-temperature conditions. Composite covers accounted for approximately $2.3 billion in 2019 and are expected to grow at a CAGR of approximately 5.23% during the forecast period.

Casting Manufacturing Segment Fuels Sales:

Casting is the dominant manufacturing process for engine covers, valued at approximately $750 million. Casting provides high compressive strength to the material and allows for the production of engine covers of various sizes, eliminating design constraints for engineers. It is also considered an economical manufacturing method, making it a cost-effective solution for engine manufacturers.

Engine Covers Made with Flexible PU Foam Lead the Future:

Flexible PU foam, developed by companies like BASF, is used to produce lightweight engine covers efficiently. This foam offers properties such as thermal resistance, economic manufacturing, mechanical dampening, noise reduction, and dimensional stability.

Who are Automotive Engine Cover Market Key Players?

• DuPont
• MAHLE GmbH
• Toyoda Gosei Co. Ltd.
• Polytec Group Inc.
• Miniature Precision Components
• Toray Group
• Ascend Performance Materials
• Magna International LLC
• Montaplast GmbH
• Luxfer Group
• Rochling Group
• The Mondragon Cooperative Corporation
• DSM
• BASF AG
• Bugatti

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Table of Content: Automotive Engine Cover Market

Part 01: Executive Summary

Part 02: Scope of the Automotive Engine Cover Market Report

Part 03: Global Automotive Engine Cover Market Landscape

Part 04: Global Automotive Engine Cover Market Sizing

Part 05: Global Automotive Engine Cover Market Segmentation by Type

Part 06: Five Forces Analysis

Part 07: Customer Landscape

Part 08: Geographic Landscape

Part 09: Decision Framework

Part 10: Drivers and Challenges

Part 11: Market Trends

Part 12: Vendor Landscape

Part 13: Vendor Analysis

Regional Insights:

Asia Pacific: Holds the largest market share (approximately 45%) due to increasing automobile production and a strong focus on passenger safety, particularly in China.

Europe: Expected to witness the fastest growth (approximately 30%) owing to investments in the automotive sector and stringent emission and safety regulations. Germany leads the European market.

North America: Dominates the market with high technological adoption and infrastructure capabilities. The region is characterized by an abundance of key players and efficient transportation networks.

Key Offerings:

Past Market Size and Competitive Landscape (2018 to 2021)
Past Pricing and price curve by region (2018 to 2021)
Market Size, Share, Size & Forecast by different segment | 2022-2029
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by Product
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations
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