Press release
Automotive Engine Cover Market Technological Advancements in Automotive Industry To 2030
Automotive Engine Cover Market
The global automotive engine cover market, valued at USD 1.34 billion in 2023, is projected to reach USD 1.75 billion by 2030, growing at a CAGR of 3.84%.
๐ ๐จ๐ซ ๐ ๐๐๐๐ฉ๐๐ซ ๐ฎ๐ง๐๐๐ซ๐ฌ๐ญ๐๐ง๐๐ข๐ง๐ , ๐๐ฅ๐ข๐๐ค ๐จ๐ง ๐ญ๐ก๐ ๐ฅ๐ข๐ง๐ค ๐๐๐ฅ๐จ๐ฐ: https://www.maximizemarketresearch.com/request-sample/107080/
๐๐๐ฒ ๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐ข๐ฏ๐๐ซ๐ฌ
Technological Advancements: Innovations in materials and manufacturing processes are leading to lighter, more durable engine covers, enhancing vehicle performance and fuel efficiency.
Aesthetic and Functional Integration: Modern engine covers are designed to improve engine compartment appearance while providing noise reduction and thermal insulation.
๐๐๐ ๐ข๐จ๐ง๐๐ฅ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ
Asia-Pacific: Countries like Japan and South Korea are at the forefront of automotive manufacturing, driving demand for advanced engine covers.
Europe and North America: The focus on lightweight materials and stringent emission norms is boosting market growth in these regions.
๐๐๐๐๐ง๐ญ ๐๐๐ซ๐ ๐๐ซ๐ฌ ๐๐ง๐ ๐๐๐ช๐ฎ๐ข๐ฌ๐ข๐ญ๐ข๐จ๐ง๐ฌ
Saudi Aramco's Investment: In September 2024, Saudi Aramco acquired a 10% stake in Horse Powertrain, a joint venture between Renault and Geely, focusing on gasoline engines and hybrid systems.
Toyota's Strategic Moves: Toyota has introduced a new generation of smaller, more fuel-efficient engines, reinforcing its commitment to internal combustion engine development amidst the rise of electric vehicles.
๐ ๐จ๐ซ ๐ ๐๐๐๐ฉ๐๐ซ ๐ฎ๐ง๐๐๐ซ๐ฌ๐ญ๐๐ง๐๐ข๐ง๐ , ๐๐ฅ๐ข๐๐ค ๐จ๐ง ๐ญ๐ก๐ ๐ฅ๐ข๐ง๐ค ๐๐๐ฅ๐จ๐ฐ: https://www.maximizemarketresearch.com/request-sample/107080/
๐๐ฎ๐ญ๐จ๐ฆ๐จ๐ญ๐ข๐ฏ๐ ๐๐ง๐ ๐ข๐ง๐ ๐๐จ๐ฏ๐๐ซ ๐๐๐ซ๐ค๐๐ญ ๐๐๐จ๐ฉ๐:
๐๐ฒ ๐๐๐ง๐ฎ๐๐๐๐ญ๐ฎ๐ซ๐ข๐ง๐ ๐๐ซ๐จ๐๐๐ฌ๐ฌ
Casting
Injection molding
Forging
With the largest market share of 62% in 2023, the Casting segment led the worldwide automobile engine cover market by manufacturing process. In the industrial process known as casting, molten material-typically metal-is poured into a mold to take on the desired shape. For the production of car engine covers, casting is a widely used technique. Casting's affordability, adaptability, and efficiency are what make it so appealing to the automobile industry. Casting allows engine covers to be produced in large quantities using comparatively cheap tools and equipment. This technique is particularly well-suited for complicated and sophisticated designs, ensuring that engine covers are customized to meet the unique needs of various car models.
๐๐ฒ ๐๐๐ญ๐๐ซ๐ข๐๐ฅ ๐๐ฒ๐ฉ๐
Composites
Metals
Thermoplastics
Others
According on Material Type, the Composites segment accounted for 44% of the automobile engine cover market in 2023 and is projected to rise at a compound annual growth rate (CAGR) of 4.12% from 2024 to 2030. This expansion is ascribed to a number of beneficial properties associated with composite materials. Composites are frequently made up of a variety of components, such as fibers (commonly carbon fiber or fiberglass) embedded in a matrix (usually a polymer resin). The material produced by this composition has a special set of qualities that are crucial for automotive applications.
๐๐ฒ ๐๐ฉ๐ฉ๐ฅ๐ข๐๐๐ญ๐ข๐จ๐ง
Passenger Cars
Hatchback
Sedan
MPV
MUV
SUV
Commercial Vehicles
Light Commercial
Heavy Commercial
๐๐ฒ ๐๐ข๐ฌ๐ญ๐ซ๐ข๐๐ฎ๐ญ๐ข๐จ๐ง ๐๐ก๐๐ง๐ง๐๐ฅ
OEM
Aftermarket
The OEM sector accounted for 60% of the automobile engine cover market in 2023, and it is projected to rise at a compound annual growth rate (CAGR) of 3.98% from 2024 to 2030. Because of its crucial position in the automotive supply chain, quality assurance, customisation capabilities, effective logistics, long-term alliances, and economies of scale, the OEM sub-segment dominates the worldwide market for car engine covers. As suppliers of essential components, OEMs are essential in shaping the dynamics of the vehicle engine cover market and satisfying industry demands.
๐ ๐จ๐ซ ๐ ๐๐๐๐ฉ๐๐ซ ๐ฎ๐ง๐๐๐ซ๐ฌ๐ญ๐๐ง๐๐ข๐ง๐ , ๐๐ฅ๐ข๐๐ค ๐จ๐ง ๐ญ๐ก๐ ๐ฅ๐ข๐ง๐ค ๐๐๐ฅ๐จ๐ฐ: https://www.maximizemarketresearch.com/request-sample/107080/
๐๐ฎ๐ญ๐จ๐ฆ๐จ๐ญ๐ข๐ฏ๐ ๐๐ง๐ ๐ข๐ง๐ ๐๐จ๐ฏ๐๐ซ ๐๐๐ซ๐ค๐๐ญ, ๐๐๐ฒ ๐ฉ๐ฅ๐๐ฒ๐๐ซ๐ฌ:
1. APR
2. AFE Power.
3. Kiva Container
4. Kuante Auto Parts Company Limited
5. Motherson
6. Oerlikon HRSflow.
7. Rรถchling Automotive
8. Roto-Fab
9. Sonus
10. Toyoda Gosei Co., Ltd
11. Others
๐๐จ ๐๐๐ญ ๐๐จ๐ซ๐: https://www.maximizemarketresearch.com/market-report/global-automotive-engine-cover-market-industry-analysis-and-forecast-2020-2026-by-vehicle-type-manufacturing-process-material-type-and-region/107080/
๐๐๐ฒ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ ๐๐ง๐ ๐๐๐ฏ๐๐ฅ๐จ๐ฉ๐ฆ๐๐ง๐ญ๐ฌ
Porsche: The company aims to electrify 80% of its range by 2030, investing โฌ15 billion in electrification by 2025, while maintaining its combustion engine legacy.
Husqvarna: Approximately 40% of Husqvarna's products are electric, with plans to increase this to 60% by 2026, indicating a significant shift towards battery-powered equipment.
๐ ๐ฎ๐ญ๐ฎ๐ซ๐ ๐๐ฎ๐ญ๐ฅ๐จ๐จ๐ค
The automotive engine cover market is poised for steady growth, driven by technological advancements, regulatory pressures, and strategic industry collaborations. Companies focusing on innovation and sustainability are expected to lead in this evolving landscape.
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๐๐๐ฒ ๐๐๐๐๐ซ๐ข๐ง๐ ๐ฌ:
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by segment with their sub-segments and Region
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
๐๐จ๐ง๐ญ๐๐๐ญ ๐๐๐ฑ๐ข๐ฆ๐ข๐ณ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก:
MAXIMIZE MARKET RESEARCH PVT. LTD.
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๐๐๐จ๐ฎ๐ญ ๐๐๐ฑ๐ข๐ฆ๐ข๐ณ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก:
A versatile market research and consulting firm, Maximize Market Research employs experts from several sectors. Medical device manufacturers, pharmaceutical companies, science and engineering, electronic components, industrial equipment, technology and communication, automobiles, chemical goods and substances, general merchandise, alcoholic beverages, personal care products, and automated systems are a few of the industries we cover. To name a few, we offer client impact studies, technical trend analysis, critical market research, competitive analysis, production and demand analysis, and market-verified industry estimations.
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