Table of Contents
Historical Data, Premium Insights, Market Dynamic, Analysis and Projection, By Product, Analysis and Projection, By Application, Analysis and Projection, By End-Use, Analysis and Projection, By Regional Analysis, Competitive Landscape, Company Profiles, Market Revenue, Sale & Price Analysis
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According to a research report published by Spherical Insights & Consulting, The Global Automotive Engine Cover Market Size is Expected to Grow from USD 1.24 Billion in 2023 to USD 1.97 Billion by 2033, Growing at a CAGR of 4.74% during the forecast period 2023-2033.
Browse 210 market data Tables and 45 Figures spread through 190 Pages and in-depth TOC on the Global Automotive Engine Cover Market Size, Share, and COVID-19 Impact Analysis, By Material Type (Plastic, Metal, Composite), By Vehicle Type (Passenger Vehicles, Commercial Vehicles), By Sale Channel (OEM, Aftermarket), And By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, And Africa), Analysis And Forecast 2023 - 2033
The worldwide automotive engine cover market is ascribed to the marketplace involved in the production and distribution of engine covers, which are critical components in engines. Engine covers control heat insulation, noise reduction, protection and showcasing, and aesthetic appeal. This market is expanding due to increasing vehicle production, advancements in material technology, and growing consumer need for improved vehicle aesthetics and performance. Further, the rise in electric and hybrid vehicles also contributes to the demand for specialized engine covers. The growth of the market will be driven by government incentives for the production of automobiles. However, market acquisition faces several obstacles, like strict standards for quality control and testing requirements, high upfront costs for fabricating, and raw material price fluctuation.
The composite segment held a significant share of the global automotive engine cover market in 2023 and is projected to grow at a rapid pace over the forecast period.
On the basis of the material type, the global automotive engine cover market is differentiated into plastic, metal, and composite. Among these, the composite segment held a significant share of the global automotive engine cover market in 2023 and is projected to grow at a rapid pace over the forecast period. This is because of their exceptional durability and extremely portable character, and thermal insulation which makes it an ideal solution for consumer appetite. Further, its sustainability provides more environmentally friendly solutions compared to conventional materials, boosting the segment growth.
The passenger vehicles segment held the greatest share of the global automotive engine cover market in 2023 and is anticipated to grow at a remarkable CAGR over the forecast period.
On the basis of vehicle type, the global automotive engine cover market is categorized into passenger vehicles and commercial vehicles. Among these, the passenger vehicles segment held the greatest share of the global automotive engine cover market in 2023 and is anticipated to grow at a remarkable CAGR over the forecast period. This is because of its vital role as an engine system. Further, auto manufacturers are integrating lightweight materials into their designs to improve overall vehicle performance and fuel efficiency, which propels the segmental expansion.
The OEM segment held the largest share of the global automotive engine cover market in 2023 and is projected to grow at a significant CAGR over the forecast period.
On the basis of the sale channel, the global automotive engine cover market is segmented into OEM and aftermarket. Among these, the OEM segment held the largest share of the global automotive engine cover market in 2023 and is projected to grow at a significant CAGR over the forecast period. This is due to guaranteed adherence to safety regulations and performance specifications. Moreover, automakers rely on OEMs to provide engine covers according to customization, which drives the segment growth.
Asia Pacific is projected to hold the largest share of the global automotive engine cover market over the forecast period.
Asia Pacific is expected to hold the greatest share of the global automotive engine cover market over the forecast period. The regional market is growing due to a sizable automotive sector development and the robust automotive manufacturing hubs, notably China, Japan, and India. Moreover, advancements in material science businesses and growing emphasis on fuel economy and emission control expand the market acquisition. Further, rising disposable incomes are increasing car purchases, with the presence of key regional market players excelling the market dimension.
Europe is projected to grow at the fastest CAGR growth of the global automotive engine cover market over the forecast period. The market's expansion throughout the region is further accelerated due to the presence of key market players along with supportive government initiatives that encourage the automotive sector. Moreover, Countries with robust automotive industries with an important focus on environmental sustainability, including Germany, France, and the United Kingdom, boost the market growth. Further, the need for customized engine covers is also being driven by the growing popularity of electric and hybrid cars in Europe.
Comapny Profiling
Major vendors in the global automotive engine cover market are Magna International Inc., Continental AG, Valeo SA, MAHLE GmbH, ElringKlinger AG, Polytec Group, Montaplast GmbH, Novares Group S.A., Hutchinson SA, Aisin Seiki Co., Ltd., Toyota Boshoku Corporation, Nemak S.A.B. de C.V., Mitsubishi Chemical Corporation, Sumitomo Riko Company Limited, Henniges Automotive Holdings, Inc., Minth Group Limited, Woco Industrietechnik GmbH, ABC Technologies Inc., and others.
Key Target Audience
Recent Development
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global automotive engine cover market based on the below-mentioned segments:
Global Automotive Engine Cover Market, By Material Type
Global Automotive Engine Cover Market, By Vehicle Type
Global Automotive Engine Cover Market, By Sale Channel
Global Automotive Engine Cover Market, By Regional
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