While automotive engine cover market has been experiencing decent growth prominent driven by material and technology innovations, the global automotive engine cover market has been projected to reach the revenue worth over a billion dollar towards 2022 end. According to a recently released intelligence outlook on the global automotive engine cover market, the five-year forecast period 2017-2022 will observe a sluggish CAGR for the automotive engine cover market expansion. In the light of burgeoning population and corresponding spike in disposable income, automotive ownership is likely to slate enormous demand upswing in forthcoming years. Soaring automotive manufacturing is likely to complement adoption of advanced engine covers, an integral component for vehicles. Further, palpable advances in developing light weight vehicles aligning with government stipulation is also pegged at pumping enormous growth. Owing to stupendous growth in trade activities adoption of freight transport has also registered substantial hike, thereby complementing swelling demands for apt engine covers. Further, significant investments towards engine design engineering is also accounted to remain a potent influence.
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In the wake of growing stewardship pertaining light weight vehicles and engines, automakers globally are increasingly employing plastics as the base building component. Polyamides therefore have attained mega scale adoption for most car components under the bonnet such as engine covers. Polyamide 6 and 66 are the core polyamide polymers adopted. However, to reduce carbon footprint and growing burden of environmental pollution, manufacturers tend to adopt renewable materials for building high performance engine covers with improved functional as well as aesthetic capabilities. Polyurethane based foam engine covers have also surfaced as potential materials to build lightweight engine covers which demonstrate exceptional thermal and sound absorption capabilities. Factors as such are attributed to render superlative growth potential to automotive engine cover market globally.
Maximum Revenue Continues to Pour in to Automotive Engine Cover Market through Passenger Cars
Dramatic organic growth in the production and sales of passenger cars has been among the key factors generating demand for automotive engine cover. As governments are increasingly imposing strict regulatory standards such as CAFÉ (Corporate Average Fuel Economy) standards, automakers as well as vehicle owners are rapidly preferring a switch to lightweight automotive components, promoting fuel economy.
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Automotive Engine Cover Market: Overview
The automotive engine cover market has been analyzed in detail to offer definitive forecast insights on the market for the period 2017-2022. This report is an exhaustive compilation of a detailed overview of automotive engine cover market and analyzes the market in terms of market dynamics, macro and micro-economic determinants that shape market growth, also shedding light on other relevant factors that direct future prospects of the market trajectory.
Consumers to Drive Innovation in the Use of Plastics in Automotive Engine Cover Manufacturing
Although a traditional territory of metals, the under-the-bonnet section of new age vehicles has been witnessing immense innovation over the years. While plastics include one of the extensively used materials in automotive engine cover manufacturing due to their offerings such as light weight, high design freedom, thermal resistance, and lesser manufacturing costs, research points to restricted preference for plastics among consumers.
One of the recent respondent surveys indicates that a sizable population of vehicle owners based in developing regions are reluctant about plastic automotive engine covers when it comes to DIY auto repair. Despite a majority of automotive engine covers are easy to remove and reinstall, car owners are often concerned about the plastic cover breakage. In an effort to address such concerns among consumers while adhering to the NVH (noise, vibration, and harshness) demands, automakers are investing their R&D efforts in the innovation of plastic and derived materials used for manufacturing of automotive engine cover.
Automotive Engine Cover Market: Competition Landscape
This section of the report offers a detailed section on key contributors in Automotive Engine Cover Market. A dashboard view of each of the mentioned profiles complete with detailed insights on their respective SWOT analysis along with detailed assessment of their product portfolio, market contribution, as well as recent developments have been slated to aid readers’ understanding about the competition spectrum.
The global automotive engine cover market report offers thorough profiling of leading players in the global automotive engine cover marketplace, some of which include E. I. du Pont de Nemours and Co., POLYTEC Holding AG, MAHLE GmbH, The Mondragón Cooperative Corporation (MCC), Miniature Precision Components Inc., Montaplast GmbH, Toyoda Gosei Co., Ltd., Rochling Group, and DSM.