Global Automotive Engine Cover Market Expected to Acquire Value More than US$ 1,250 Mn by 2022

The global automotive engine cover market is influenced by factors such as increasing demand for light weight covers for engines as per government regulations, rising automotive industry, increasing urbanization and innovation in technologies producing better engine covers, higher disposable of the ever increasing population, and benefits of automotive engine covers. These aspects contribute to the growth of the global automotive engine cover market. The Europe region is most lucrative for the automotive engine cover market and has a dominance over other regions in terms of market revenue share. APEJ region shows good growth rate over the period of forecast, 2017-2022. This Fact.MR report discusses key prospects for growth of global automotive engine cover market during the forecast period, 2017-2022, offering pragmatic insights to lead market players towards devising & implementing informed strategies.

The scope of the report is to analyze the global automotive engine cover market for the period 2017-2022 and give readers an accurate, unbiased analysis. Automotive engine cover manufacturers, suppliers, and stakeholders in the overall automotive market can benefit from the insights offered in this report. The comprehensive analysis offered in the report can also be of interest to leading automotive journals and trade magazines.

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5 Forecast Highlights on Global Automotive Engine Cover Market

1. 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

2. 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

3. 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

4. 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

5. 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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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.