The Automotive Engine Encapsulation Market is growing rapidly. The market growth attributes to the increased demand for fuel-efficient vehicles and stringent regulations to minimize engine noise and CO2 emissions. The demand for fuel-efficient vehicles is rising with the growing greenhouse gas emissions and reduces the carbon footprint. Besides, continual efforts of automotive OEMs to develop new methods and components escalate the growth of the market.
According to Market Research Future (MRFR), the global Automotive Engine Encapsulation Market is poised to create a valuation of over USD 5.5 BN by 2025, registering an impressive CAGR during the assessment period (2019 - 2025). Fuel-efficient vehicles offer improved mileage at decreased fuel costs. Encapsulation reduces the friction between engine parts with improved short warm-up time for the engine, ultimately minimizing CO2 emissions.
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Hence, automotive OEMs continuously develop new methods and components, which boost the market growth, offering full encapsulation to keep engine noise and vibration out of the cabin. Also, the global demand for encapsulation materials is rising continually. The increasing advances in the development of compact size engines drive the demand for automotive engine encapsulation market during the review period.
On the other hand, fluctuating prices and the demand-supply gap in raw materials required for automotive engine encapsulation production is a significant factor estimated to impede the market growth. Also, the limited applications of engine encapsulation in electric and hybrid vehicles hamper the growth of the market. Nevertheless, the growing awareness about the environment and increase in demand for low noise vehicles would support market growth throughout the forecast period.
Global Automotive Engine Encapsulation Market - Segmentations
The report is segmented into five dynamics;
By Type: Engine Mounted and Body Mounted.
By Vehicle Type: Passenger Car, LCV, and HCV.
By Material: Polyurethane, Carbon Fiber, Polyamide, Polypropylene, and others.
By Sales Channel: OEM and Aftermarket.
By Regions: Asia Pacific, North America, Europe, and the Rest-of-the-World.
Global Automotive Engine Encapsulation Market - Geographical Analysis
Europe dominates the global automotive engine encapsulation market size . In 2019, the region had accounted for the largest as in 35.7% share of the overall market, reaching a valuation of USD 1.4 billion. The region is the fastest-growing market for automotive engine encapsulation, which further impacts the market sales positively. Besides, the presence of several well-established automakers and OEMs in the region influence the growth of the market.
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Moreover, stringent emission standards such as Euro 6 and the downsizing of engines to reduce vehicle weight, in turn, increase the demand for engine encapsulation. Furthermore, the augmenting demand for encapsulation technologies and the spurting growth in the automotive industry in the region foster market sales. The European automotive engine encapsulation market is projected to retain its dominance, growing at 5.2% CAGR throughout the estimated period.
The Asia Pacific region stands second in the global automotive engine encapsulation market share . In 2019, the region was valued at USD 1.2 billion. The market growth is driven by the increase in automotive production and the demand for technologically advanced vehicles. China and India hold a significant share in the regional market. Also, the growing demand for advanced engine management systems fosters regional market growth.
Additionally, the spurting growth in information and communication technology (ICT), automotive, and transportation industries create a substantial market demand. The APAC automotive engine encapsulation market is projected to create a considerable revenue pocket, growing at 7.5% CAGR during the assessment period.
The North American automotive engine encapsulation market trends is emerging as the fastest-growing market. Factors such as the growth in the automotive industry across the region and the flourishing OEM market propel the regional market growth brilliantly. Additionally, the augmenting demand for engine covers and shields with superior mechanical and tensile strength and low thermal expansion boost the growth of the regional market.
Moreover, advances in carbon fiber-enabled engine encapsulation systems and a steady rise in the luxury car sales in the US impact the market growth, positively. The automotive engine encapsulation market in North America is estimated to the highest CAGR over the next six years.
Global Automotive Engine Encapsulation Market - Competitive Landscape
Highly competitive, the automotive engine encapsulation industry appears fragmented with the presence of several well-established players. To gain a larger competitive share, industry players incorporate strategic initiatives such as mergers acquisitions, collaboration, expansion, and product / technology launch. Substantial investments are transpired in RD to develop a completely different technology compared to their competition.
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Major Players:
Players leading the Global Automotive Engine Encapsulation Market include Adler Pelzer Holding GmbH (Germany), Röchling Group (Germany), Autoneum (Switzerland), Greiner Foam International GmbH (Austria), ElringKlinger AG (Germany), Woco Industrietechnik GmbH (Germany), Trocellen GmbH (Germany), Carcoustics (Germany), SA Automotive (US), and Continental Corporation (Germany), among others.
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