Press release
Engine Encapsulation Market Overview, Competitive Analysis, Key Trends And Outlook 2024 To 2033
Engine Encapsulation Market Analysis
The Business Research Company offers in-depth market insights through Engine Encapsulation Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The engine encapsulation market size has grown strongly in recent years. It will grow from $5.7 billion in 2023 to $6.07 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to fuel efficiency concerns, noise, vibration, and harshness (nvh) reduction, emission control regulations, focus on aerodynamics in vehicle design.
The engine encapsulation market size is expected to see strong growth in the next few years. It will grow to $7.91 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to stricter emission standards, electrification of vehicles, integration with advanced cooling systems, continued emphasis on fuel efficiency, adoption of lightweight materials. Major trends in the forecast period include active engine encapsulation systems, integration with vehicle thermal management, sustainable and recyclable encapsulation materials, customization for electric vehicles, advanced computational simulations for optimal design.
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Market Segmentation:
The engine encapsulation market covered in this report is segmented -
1) By Product Type: Engine-Mounted, Body-Mounted
2) By Material: Polypropylene, Polyurethane, Carbon fiber, Other Materials
3) By Fuel Type: Gasoline, Diesel
4) By Vehicle Class: Economic Light-Duty Vehicles, Mid-Priced Light-Duty Vehicles, Luxury Light-Duty Vehicles
5) By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket
Major Driver - Increase In Demand For Commercial Vehicles
The increase in demand for commercial vehicles is driving the growth of the engine encapsulation market. Commercial vehicles are used for the transportation of goods over long distances, increasing the need for better fuel efficiency. Commercial vehicles are used for the transportation of goods over long distances, increasing the need for better fuel efficiency. Engine encapsulation saves fuel and minimizes engine noise and heat transfer, making it an attractive solution for commercial vehicles. For example, in July 2022, according to Pandaily, a Beijing-based technology media company, the sales volume of commercial vehicles was 168,000, up 49.4% year-on-year. Also, in May 2021, demand for new commercial vehicles in Germany increased by 46.4% over the previous year. Hence, the increasing demand for commercial vehicles is expected to drive the growth of the engine encapsulation market in the forecast period.
Competitive Landscape:
Major companies operating in the engine encapsulation market report are ElringKlinger AG, Autoneum Holding AG, Continental AG, Roechling Group, Greiner Foam International GmbH, Trocellen GmbH, Adler Pelzer Holding GmbH, BASF SE, Furukawa Electric Co. Ltd., Evonik Industries AG, Hennecke GmbH, Compagnie de Saint-Gobain S. A., UFP Technologies Inc., Polytec Group, DBW Advanced Fiber Technologies GmbH, ZF Friedrichshafen AG, GKN plc, Schaeffler Technologies AG & Co KG, BorgWarner Inc., AVL List GmbH, Axletech International, Dana Limited, Woco Industrietechnik GmbH, 3M Company, SA Automotive Ltd, Charlotte Baur Formschaumtechnik GmbH, Carcoustics International GmbH, Uniproducts Inc., UGN Inc., Robert Bosch GmbH
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Top Trend - New Product Innovation
New product innovation is a key trend gaining popularity in the market as companies in the engine encapsulation market. 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).
The Table Of Content For The Market Report 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
…..
27. Engine Encapsulation Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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