Automotive Engine Encapsulation Market Insight
With things going haywire, Market Research Future studied vital points to make sure that the businesses around the global automotive engine encapsulation market 2020 are utterly prepared to tackle potential implications caused by COVID-19 deadly disease. MRFR, from its study, estimates that global automotive engine encapsulation market can reach its target to get at least ~6.74% CAGR during the forecast period 2018-2023, and will be valued at a higher pace.
Major Players:
Players leading the Global Automotive Engine Encapsulation Market include Adler Pelzer Holding GmbH (Germany), Röchling Group (Germany), Autoneum (Switzerland), Greiner Foam International GmbH (Austria), ElringKlinger AG (Germany), Woco Industrietechnik GmbH (Germany), Trocellen GmbH (Germany), Carcoustics (Germany), SA Automotive (US), and Continental Corporation (Germany), among others.
Top Impactful Factors
Demand for automotive engine encapsulation is likely to surge during the assessment period owing to its copious advantages such as less CO2 emission from vehicles and reduction in airborne noise. Engine encapsulation earlier provided only in luxury vehicles; however, this addition is now penetrating in the lower segment vehicles to meet the rigorous noise emission norms. Due to this, the demand has been raised in the period of lockdown to control pollution, which gave a boost to the market growth.
Engine encapsulation advances the fuel economy of the vehicle by providing higher initial temperature to the engine and oils lubricants. Due to this, manufacturers are providing this addition in most new vehicles manufacturing. On a similar note, the application of materials like carbon fibre is likely to expand the market, owing to its favourable characteristics, such as lightweight, and ability to absorb noise. The use of carbon fibre for engine encapsulation has its challenges, the prime concern being the high cost of the material. Consequently, the application of this material is only feasible for premium and luxury vehicles.
On the contrary, the factor of the rising preference for electric vehicles is anticipated to hold back the automotive engine encapsulation market owing to the lack of conventional engines in electric vehicles during the progression period.
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Global Automotive Engine Encapsulation Market – Segmentations
The report is segmented into five dynamics;
By Type: Engine Mounted and Body Mounted.
By Vehicle Type: Passenger Car, LCV, and HCV.
By Material: Polyurethane, Carbon Fiber, Polyamide, Polypropylene, and others.
By Sales Channel: OEM and Aftermarket.
By Regions: Asia Pacific, North America, Europe, and the Rest-of-the-World.
Global Automotive Engine Encapsulation Market – Geographical Analysis
Europe dominates the global automotive engine encapsulation market. In 2019, the region had accounted for the largest as in 35.7% share of the overall market, reaching a valuation of USD 1.4 billion. The region is the fastest-growing market for automotive engine encapsulation, which further impacts the market sales positively. Besides, the presence of several well-established automakers and OEMs in the region influence the growth of the market.
Moreover, stringent emission standards such as Euro 6 and the downsizing of engines to reduce vehicle weight, in turn, increase the demand for engine encapsulation. Furthermore, the augmenting demand for encapsulation technologies and the spurting growth in the automotive industry in the region foster market sales. The European automotive engine encapsulation market is projected to retain its dominance, growing at 5.2% CAGR throughout the estimated period.
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The Asia Pacific region stands second in the global Automotive Engine Encapsulation Market Share. In 2019, the region was valued at USD 1.2 billion. The market growth is driven by the increase in automotive production and the demand for technologically advanced vehicles. China and India hold a significant share in the regional market. Also, the growing demand for advanced engine management systems fosters regional market growth.
Additionally, the spurting growth in information and communication technology (ICT), automotive, and transportation industries create a substantial market demand. The APAC automotive engine encapsulation market is projected to create a considerable revenue pocket, growing at 7.5% CAGR during the assessment period.
The North American automotive engine encapsulation market is emerging as the fastest-growing market. Factors such as the growth in the automotive industry across the region and the flourishing OEM market propel the regional market growth brilliantly. Additionally, the augmenting demand for engine covers and shields with superior mechanical and tensile strength and low thermal expansion boost the growth of the regional market.
Moreover, advances in carbon fiber-enabled engine encapsulation systems and a steady rise in the luxury car sales in the US impact the market growth, positively. The automotive engine encapsulation market in North America is estimated to the highest CAGR over the next six years.
Global Automotive Engine Encapsulation Market – Competitive Landscape
Highly competitive, the automotive engine encapsulation market appears fragmented with the presence of several well-established players. To gain a larger competitive share, industry players incorporate strategic initiatives such as mergers acquisitions, collaboration, expansion, and product/technology launch. Substantial investments are transpired in RD to develop a completely different technology compared to their competition.
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Table Of Content
1 EXECUTIVE SUMMARY
2 MARKET INTRODUCTION
2.1 DEFINITION
2.2 SCOPE OF THE STUDY
2.3 MARKET STRUCTURE
2.4 KEY BUYING CRITERIA
3 RESEARCH METHODOLOGY
3.1 RESEARCH PROCESS
3.2 PRIMARY RESEARCH
3.3 SECONDARY RESEARCH
3.4 MARKET SIZE ESTIMATION
3.5 TOP-DOWN AND BOTTOM-UP APPROACH
3.6 FORECAST MODEL
3.7 LIST OF ASSUMPTIONS
4 MARKET DYNAMICS
4.1 INTRODUCTION
4.2 DRIVERS
4.2.1 INCREASED DEMAND FOR FUEL-EFFICIENT VEHICLES
4.2.2 STRINGENT REGULATIONS TO MINIMIZE ENGINE NOISE AND CO2 EMISSIONS
4.2.3 DRIVERS IMPACT ANALYSIS
4.3 RESTRAINT
4.3.1 LIMITED APPLICATIONS OF ENGINE ENCAPSULATION IN ELECTRIC AND HYBRID VEHICLES
4.3.2 RESTRAINT IMPACT ANALYSIS
4.4 OPPORTUNITY
4.4.1 GROWING TREND OF ENGINE DOWNSIZING
4.5 CHALLENGE
4.5.1 FOCUS ON PUBLIC TRANSPORTATION
4.6 IMPACT OF COVID-19 ON THE GLOBAL AUTOMOTIVE ENGINE ENCAPSULATION MARKET
4.6.1 ECONOMIC IMPACT: IMPACT ON AUTOMOTIVE INDUSTRY
4.6.2 IMPACT ON AUTOMOTIVE PRODUCTION
4.6.3 IMPACT ON AUTOMOTIVE ENGINE ENCAPSULATION INDUSTRY
4.6.4 IMPACT ON WORLD TRADE
5 MARKET FACTOR ANALYSIS
5.1 SUPPLY CHAIN ANALYSIS
5.1.1 DESIGN AND DEVELOPMENT
Continued………
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