Automotive Engine Cover Market Analysis, Trend, Size, Share, and Forecast 2017 – 2022

Fact.MR has recently added a new report to its vast online database. This research study is titled as “Automotive Engine Cover Market Forecast, Trend Analysis & Competition Tracking: Global Review 2017 to 2022” which presents an in-depth study about the production, consumption, market volume, revenue (million USD) and market share across different geographical regions.

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The global automotive engine cover market is driven by various aspects. The growing population and disposable income prevalent in various regions in the globe is one of the contributors aiding growth of the market. Growing urbanization along with development in the engine cover technology are primarily fuelling the growth of the global automotive engine cover market. Owing to stringent government regulations, the demand for lightweight engine covers is increasing consecutively driving the growth of global automotive engine cover market. Engine covers are made of different materials, right from metals to thermoplastics depending upon the specifications required. These covers ensure safety of the engine and ensure insulation from vibration and pressure regulation. Europe region seems to dominate the global market at a steady growth rate during the period of forecast. Asia-Pacific excluding Japan (APEJ) region is poised to run at a higher growth rate as well.

Automotive engine covers are used to cover the engine in order to protect the engine from vibrations, heat, etc. These covers ensure pressure regulation and efficient running of the engine. The material used in covers used in automotive engines are of different types, such as thermoplastic, metals, composites etc. These engine covers not only safeguard engines, but also protect other components from the vibrations and heat generated by the engine.

5 Forecast Highlights on Global Automotive Engine Cover Market

· Europe is the most attractive region and it is expected from this region to retain its dominance during the period of 2017 to 2022. Asia-Pacific excluding Japan (APEJ) is showing tremendous potential and a significant growth rate to register a CAGR of 3.6% and could come close to Europe in terms of market share by revenue during the year 2022

· Other segment by material type enjoys a large market share of 32.3% and grows at a steady rate. On the other hand, the thermoplastics segment is posed to grow at a higher rate during the period of forecast. The composites segment grows at a slow pace and is second in terms of market share

· Injection molding segment is anticipated to grow at higher CAGR of 2.9% during the period of forecast as compared to others segment and casting segment by technology type. The injection molding segment not only experiences comparatively faster growth, but also enjoys a higher market share

· Luxury passenger cars segment by vehicle type grows at a higher rate to register a CAGR of 3.5% during the forecast period. The compact passenger cars segment grows at a moderate rate, less as compared to luxury cars segment, but reflects a higher market share by revenue

· OEM segment by sales channel is anticipated to grow in speed, posting a CAGR of 3.4% during the forecast period 2017-2022. The aftermarket segment by sales channel shows higher market share by revenue in 2017 and this segment might go slow owing to slow growth rate during the forecast period

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Others Segment by Material Type is expected to be the Largest

The other segment by material type is growing at a steady pace with a higher market share as of 2017, as it represents 32.3% of the market which is higher than any other segment by material type. The composites segment is second to the others segment in terms of market share. Thermoplastics segment is by far the fast growing segment during the period of forecast and expected to gain a higher BPS by the end of 2022.

OEM Segment Shows Speed

By sales channel, the OEM segment is poised to reflect a higher growth rate to register a CAGR of 3.4% during the period of forecast. It is also expected to experience a gain in the BPS by the end of 2022. The aftermarket segment, growing at steady growth rate during the forecast period, reflects higher market share by revenue in the global automotive engine cover market.

Compact Passenger Cars to Reflect Dominance; Luxury Passenger Cars to Grow Fast

The luxury passenger cars segment by vehicle type show high growth rate to register a CAGR of 3.5% during the period of forecast of 2017 to 2022. However, this segment experiences a low market share by revenue. The compact passenger cars segment, although growing at medium speed, possess the highest market share by revenue during 2017 and this rate could continue till 2022 end. It also experiences a gain in the BPS by the end of 2022.

Injection Molding Segment Poised to Reflect Higher Growth Rate

The injection molding segment by technology type is anticipated to register a higher growth rate compared to other and casting segments by technology type and reflects a CAGR of 2.9% during the period of forecast along with a higher market share. It also experiences a gain in the BPS and could be said to have dominated the global automotive engine cover market with respect to technology.

Europe Dominates the Market

The Europe region is expected to show dominance over other regions in terms of market value share, and poised to grow at a steady pace. The Asia-Pacific excluding Japan (APEJ) region is anticipated to grow at a higher growth rate and registers a CAGR of 3.6% during the period of forecast. Europe regions shows higher market attractiveness for the automotive engine covers, thereby positioning itself as a lucrative region for the global automotive engine cover market.

Competition Tracking

The report also profiles companies that are expected to remain active in the expansion of the global automotive engine cover market through 2022, which include MAHLE GmbH, POLYTEC Holding AG, Miniature Precision Components Inc., The Mondragón Cooperative Corporation (MCC), Montaplast GmbH, Rochling Group,Toyoda Gosei Co., Ltd, E. I. du Pont de Nemours and Co. and DSM.

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This release was published on openPR.