ID: MRFR/AM/4690-CR | 106 Pages | Published By Sejal Akre on August 2020
Automotive Engine Encapsulation Market is expected to be valued at USD 5,500 Million with a CAGR of 5.4% Forecast by 2030
$5,500 Million
5.4%
Asia Pacific
2022-2030
Automotive Engine Encapsulation Market in terms of value is anticipated to reach a value of USD 5,500 Million by 2030.
The automotive engine encapsulation insulates the engine from the environment and maintains engine temperature for long durations even when the engine is turned off. This slows down the engine cooling rate, providing initial heat during start-up. Hence, encapsulation reduces the friction between engine parts and provides a short warm-up time for the engine, which ultimately helps minimize CO2 emissions.
The global automotive engine encapsulation market is growing rapidly due to an increased demand for fuel-efficient vehicles and stringent regulations to minimize engine noise and CO2 emissions. However, the growth of the global market may be hindered by limited applications of engine encapsulation in electric and hybrid vehicles. The demand for fuel-efficient vehicles is on the rise all over the globe to reduce greenhouse gas emissions and minimize the carbon footprint. Furthermore, fuel-efficient vehicles improve mileage and decrease fuel costs. Hence, automotive OEMs are continuously working to develop new methods and components.
Global Market for Automotive Engine Encapsulation is segmented based on Type, Vehicle Type, Material, Sales Channel, and Region.
By type, the global automotive engine encapsulation market is bifurcated into engine mounted and body-mounted. The engine mounted encapsulation system allows the engine to retain much of its heat for up to 36 hours. This helps in reducing emissions and wear and tear while starting the engine, especially in colder climates. The engine mounted encapsulation is widely used owing to properties, such as superior acoustic and thermal performance. Thermal performance refers to heat storage, cooling system performance, manufacturability, and thermal safety of the engine and accessory components. Engine mounted encapsulation is majorly used in the small segment and sports utility vehicles.
By vehicle type, the global automotive engine encapsulation market is divided into passenger vehicle, light commercial vehicle, and heavy commercial vehicle. The rise in the sale of fuel-efficient vehicles due to the increasing purchasing power of consumers is paving the way for the adoption of engine encapsulation systems. Moreover, stringent government regulations regarding vehicle emission are expected to further contribute to the adoption of such systems in automobiles. To curb the adverse environmental impact of vehicle emission, the European Union has introduced the European emission standards — Euro 6
By material, the global automotive engine encapsulation market is segmented into carbon fiber, polypropylene, polyurethane, polyamide, and others. Carbon fiber is used as one of the primary materials in engine encapsulation as a part of engine covers and shields as it exhibits superior mechanical and tensile strength and low thermal expansion. Carbon fiber-enabled engine encapsulation systems are expensive and are mainly adopted in luxury cars.
By sales channel, the global automotive engine encapsulation market is bifurcated into OEM and aftermarket.
Based on region, the report on the automotive engine encapsulation market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.
Global Automotive Engine Encapsulation Market is a highly fragmented market with the presence of a high number of market players. The key players in the market are Röchling Group (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), SA Automotive (US), and Continental Corporation (Germany).
Europe accounted for the largest market share of 35.7% in 2019, with a market value of USD 1.4 billion and is projected to register a 5.70% CAGR during the forecast period. The region is the fastest-growing market for automotive engine encapsulation owing to the presence of several well-established OEMs in Germany and the UK. Stringent emission standards such as Euro 6 and the downsizing of engines to reduce vehicle weight have resulted in the increased demand for engine encapsulation.
Asia-Pacific was the second-largest market in 2019, valued at USD 1.2 billion and is projected to register the highest CAGR of 7.5%. The automotive industry in the region was growing at a fast pace till the beginning of 2020, due to the increase in production in developing nations such as China and India. The demand for technologically advanced cars was increasing with the growth of the information and communication technology (ICT), automotive, and transportation industries, resulting in the rising demand for advanced engine management systems.
Global Market for Automotive Engine Encapsulation is segmented based on type, vehicle type, material, sales channel, and region. The global market for automotive engine encapsulation is growing rapidly due to an increased demand for fuel-efficient vehicles and stringent regulations to minimize engine noise and CO2 emissions. Government regulation is becoming stricter, which influences the sales of energy-efficient components in the market. Hence, it is the primary driving factor for the global automotive engine encapsulation industry. Growing awareness about the environment and increase in demand for low noise vehicles will further drive the market.
Report Attribute/Metric | Details |
Market Size | 2030: USD 5,500 Million |
CAGR | 5.4 % CAGR (2022 to 2030) |
Base Year | 2021 |
Forecast Period | 2022 to 2030 |
Historical Data | 2019 & 2020 |
Forecast Units | Value (USD Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Type, Vehicle Type, Material and Sales Channel |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Key Vendors | Röchling Group (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), SA Automotive (US), and Continental Corporation (Germany) |
Key Market Opportunities | Growing rapidly due to an increased demand for fuel-efficient vehicles Stringent regulations to minimize engine noise and CO2 emissions |
Key Market Drivers | Growing awareness about the environment Increase in demand for low noise vehicles will further drive the market |
Greiner Foam International (Austria), ElringKlinger AG (Germany), Furukawa Electric Co., Ltd. (Japan), and Woco Industrietechnik GmbH (Germany) are the opponents in the market.
An approximate CAGR of 5.4% is appraised to be achieved in the market.
The region in the Asia Pacific is anticipated to govern the growth of the market.
The intensification in the claim for low noise vehicles is expected to influence the market in the coming period.
sales, application, type, material, fuel, and regions are the segments made in the global market.