Automotive Engine Mounts Market Opportunities and Forecasts
Further, engine mounts can also be filled with liquid and vacuum, depending upon the damping requirements. Some automotive OEMs have also introduced electromagnetic mounts to reduce transmission of engine vibration to vehicle body more efficiently. Generally, a car can have two to three engine mounts, varying from manufacturer to manufacturer. Engine mounts generally have a long operational life and require low maintenance and servicing, but once broken they require fast replacement, as engine noise and vibrations felt inside the car increase significantly. The market for engine mounts is expected to witness moderate to healthy growth over the forecast period. The market is expected to witness the introduction of new and advanced products with enhanced damping characteristics. The replacement cost of automotive damping mounts is foreseen to vary significantly, as it depends upon the make and model of the vehicle.
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The focus of automotive manufacturers on light weighting and downsizing of under bonnet components is expected to create opportunities for research & development in automotive engine mounts for development of new products or damping materials. Favorable macro-economic environment in developed and developing nations is expected to boost market growth, as increase in vehicle production will in turn create demand for automotive engine mounts. In various countries of Asia Pacific and Africa, where average operational life of vehicle is high, significant replacement demand is expected to be created over the forecast period. On the other side, existing price pressure on manufacturers is expected to affect market growth. Increasing cost of raw material and technology can further hamper growth of the automotive engine mounts market over the forecast period.
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Growth prospects for automotive engine mounts in prominent automotive hubs in Asia Pacific, Western Europe and North America are expected to remain positive over the forecast period. With relatively high passenger car, LCV, and HCV production, Asia Pacific is expected to dominate the demand for automotive engine mounts throughout the forecast period. China, India, ASEAN and South Africa are expected to be key contributors to the growth of the market. Japan is anticipated to witness moderate and steady growth over the forecast period. Europe is expected to be the next major market for automotive engine mounts, in terms of volume and value demand over the forecast period. The market in the region is estimated to remain a dynamic hotspot for research and development over the forecast period, as the region is a base for key technology leaders in the automotive market. The U.S. is expected to account for a major share of the demand in the North America automotive mounts market over the trailing years.
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