[email protected]
We established a quick response research team to monitor the impacts of global pandemic COVID19 on this market to keep our clients informed about latest data and changing strategies. The report will incorporate these insight and data factors. | × |
---|
Understand the COVID-19 Outbreak and its impact on global & regional businesses
request free proposal
Insights on a world turned upside down : Re-imagining
The post-COVID19 Business resilience & recovery
How effective strategies and business recovery plans are winning the race
request free proposal
Goldstein Market Intelligence help you navigate through the COVID-19 crisis,
we will provide you most relevant market insights on crisis management,
recovery strategy & business continuity.
2019-06-18
230
Global
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. In order to support automobile manufacturers and to meet the global demand for reducing automobile emission and to reduce noise. Component manufacturers have provided wide range of lightweight and noise-reducing multifunctional engine covers made of Theta-Fiber Cell. This key technology of using composites and thermoplastics to meet customer specific requirements such as optimal noise protection and thermal insulation will boost the demand of engine covers in automotive OEMs and aftermarket significantly. Moreover, technical advancement in automotive components industry like light weight engine covers, using advance methodology to utilize metal and plastics to reduce the cost of engine covers expected to provide various growth opportunities to the global automotive engine covers market. Mechanical parts and accessories of automobiles contribute to more than 56% of total automotive component industry. Mechanical parts such as filter, covers and brakes are the majority part of automobile components. In mechanical parts, engine covers constitute more than 20% share in global automotive components market.
Rising population along with higher disposable income led to high expenditures over purchasing vehicles and passenger cars, which eventually raise the growth of automotive sector. This significantly contributed to the automotive engine covers market growth. Developments in engine cover to provide better thermal insulation and noise reduction contributes to the growth of the global automotive engine cover market. Government policies to reduce vehicle emission, led the automobile manufacturers to reduce the weight of their vehicles in order to improve fuel efficiency significantly contributing to the growth of light weight engine cover market. Europe is home to the various automotive manufacturer giants such as Audi, BMW and Volkswagen among others shares more than 70% in terms of production of vehicles across the globe, which is expected to grow at steady rate in coming years. China demonstrated the fastest growth with 12%, followed by European countries with 9% growth and North-America with growth of 3.1%. In North-America size of automobile components aftermarket surpassed USD 148 billion in 2016 and expected to reach USD 157 billion by 2024. However, rising electric vehicles sales expected to slow down the growth of automotive engine covers and related components market.
The global automotive engine covers market accounted for USD 1.2 billion in 2015 owing to increased shipments across the globe and rising market of fuel cell electric vehicles. Global automotive engine covers market is projected to expand at compound annual growth rate of 5.9% over the forecast period i.e. 2016-2024 and expected to reach USD 1.9 billion by the end of 2024.
By end-users market, OEM segment projected to register compound annual growth rate of 3.7% over the forecast period. The aftermarket is expected to grow at slow pace during the forecast period.
Geographically, Asia-Pacific is the largest market for automotive engine covers. The region is also expected to witness highest growth during the forecast period owing to high automobile production. Europe is the prominent vendor of automotive engine covers, which is expected to grow at considerable rate over the forecast period. North-America is a mature market for the automobile industry with steady growth in automobile and automotive components. Increasing life span of automobile in United States expected to drive the growth of aftermarket automotive components sales in U.S.
Market Synopsis
Market Segmentation
The global automotive engine covers market is segmented as follows:
Global Automotive Engine Covers Market Report covered insights of below mentioned regions:
Market Dynamics: Growth Drivers, Restraints and Opportunities
Key Market Players
Porter’s Five Force Model
Market Landscape: Competition and Beyond
Market outlook for business players and entry level players to ascertain their business in dynamic ecosystem
Expert Analysis
Concluding Remarks
A complementary 2hrs free facility through which report buyers can interact with our pool of experienced analysts for any report related queries, clarifications or additional data requirements
OR Call Us:+1-646-568-7747Global Automotive Tubeless Tires Market Outlook 2024: Global Opportunity and Demand Analysis, Market Forecast, 2016-2024
Automotive Turbocharger Market: Insights, Size, Emerging Trends, Product Sales, Growth Factors, Challenges & Key-players Analysis By Technology Type, By Vehicles Type, By Fuel Type, By End-User & By Region (North America, Europe, Middle East and Africa, Latin America, Asia Pacific, Rest of the World) for Forecast Period 2016-2024
Global Automotive Drive-Shaft Market Outlook 2024: Global Opportunity and Demand Analysis, Market Forecast, 2016-2024
North America Automotive Paints and Coatings Market Outlook 2024: Opportunity and Demand Analysis, Risk Analysis, Market Forecast, 2017-2025
Global Automotive Filters Market Outlook 2024: Global Opportunity and Demand Analysis, Market Forecast, 2016-2024
Passenger Car Accessories Market: Size, Share, Trends, Growth Factors, Restraints, Key Players, Y-O-Y Growth Rate, Opportunity and Demand Analysis By Product Type (Interior, Exterior, Electronic) & By End Users (OEMs, Aftermarket) with Regional Outlook for Forecast Period 2016-2024
Automotive Sunroof Market: Size, Share, Trends, Growth Drivers, Restraints & Key-players Analysis By Sunroof Type (Built-in, Tilt & Slide, Panoramic, Solar, Pop-Up, Top Mount) By Material Type ( Glass, Fibre), & By Vehicle Type with Regional Outlook for Forecast Period 2016-2024.
Automotive Composite Market: Size, Share, Trends, Growth Drivers, Challenges, Key-players, Global Demand & Opportunity Analysis By Product Type (Metal, Polymer, & Ceramic Matrix Composites), By Resin Type (Thermoplastic & Thermoset), By Application Type (Interior, Exterior, Chassis & Power Train Components), and By Geography With Forecast 2016-2024