Description
Global Automotive Engine Encapsulation Market Research Report – Forecast till 2025
Market Synopsis
Global Automotive Engine Encapsulation Market is evaluated to reach USD 5.5 Billion by the forecast period. The automotive engine encapsulation is used to insulate the engine from the environment and maintain engine temperature for long haul even after turning off the engine.
The global automotive engine encapsulation market is expected to acquire the largest market growth owing to the growing demand for fuel-efficient vehicles and strict government regulations to minimize engine noise and CO2 discharge.
The global market for automotive engine encapsulation is anticipated to exhibit rapid growth owing to the growing demand for fuel-efficient vehicles and stringent regulations to lower engine noise and CO2 emissions from the vehicles to control the pollution.
However, the stringent Government regulation for energy-efficient component and the rising demand for low noise vehicles is expected to drive the global market growth during the review period. Nevertheless, the growth of the global market may be restrained by limited applications of engine encapsulation in electric and hybrid vehicles.
However, the requirement for fuel-efficient vehicles is likely to surge all over the globe to lower down the greenhouse gas emissions and minimize the carbon footprint. Additionally, fuel-efficient vehicles enhance mileage and decrease fuel costs. The automotive OEMs are continuously working to develop new methods and components.
Market Segmentation
Based on the type segment, the global automotive engine encapsulation market has been categorized into engine mounted and body-mounted.
In terms of vehicle type, the global automotive engine encapsulation market is classified into passenger vehicles, light commercial vehicles, and heavy commercial vehicles.
Based on the material segment, the global automotive engine encapsulation market is classified into carbon fiber, polypropylene, polyurethane, polyamide, and others.
In terms of the sales channel, the global automotive engine encapsulation market is segregated into OEM and aftermarket.
Regional Analysis
Based on the region, the report on the automotive engine encapsulation market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.
Europe is estimated to contribute the largest market share of 35.7% in 2019 to reach USD 1.4 billion and is anticipated to exhibit a 5.2% CAGR during the review period. The regional market growth is driven by the existence of several advanced OEMs in Germany and the UK.
Asia-Pacific accounted for the second-largest market in 2019, valued at USD 1.2 billion, and is evaluated to register a significant CAGR of 7.5% owing to the rise in production in emerging economies such as China and India.
The increasing requirement for technologically advanced cars was growing with the advancements of the information and communication technology (ICT), automotive, and transportation industries, resulting in the increasing requirements for advanced engine management systems.
Major Players
The major players of the Global Automotive Engine Encapsulation Market are Röchling Group (Germany), SA Automotive (US), and Continental Corporation (Germany), Adler Pelzer Holding GmbH (Germany), Autoneum (Switzerland), ElringKlinger AG (Germany), Greiner Foam International GmbH (Austria), Woco Industrietechnik GmbH (Germany), Carcoustics (Germany), Trocellen GmbH (Germany).
COVID 19 Impact
We are continuously tracking the impact of the COVID-19 pandemic on various industries and verticals within all domains. Our research reports include the same and help you understand the drop and rise, owing to the impact of COVID-19 on the industries.
Also, we help you to identify the gap between the demand and supply of your interested market. Moreover, the report helps you with the analysis, amended government regulations, and many other useful insights.
