Automotive Engine Encapsulation Market: Future Trend and Growth Opportunities by 2027
The automotive engine encapsulation market is set to grow from its current market value of more than USD 6 billion to over USD 8 billion, Given the increasing toxic emission from automobiles, car manufacturers are constantly seeking to improve their engine design. This is further generating the demand for higher and efficient temperature insulation materials which is likely to provide superior protection, lower vibration, and low insulation properties.
That said, to realize these demands, some of the major industry players are brainstorming to developing materials that are engineered according to consumers’ need for specific applications. Additionally, they are also laying intrinsic focus on forward integration, in terms of services from material selection for the engine encapsulation to the final installation and product.
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Aftermarket channel of sales of automotive engine encapsulation materials and solutions has been gradually expanding over a while now as engine encapsulation supports reduction of nearly 40-60% of noise, heat, radiation, and vibration generated from the vehicle engine. In fact, engine encapsulation also boasts of a sensible replacement rate, making the aftermarket sales channel highly prominent across various major economies. The aftermarket size depends upon the higher solution quality and increasing customer preferences toward the price of the product.
With about 18.5 million motor vehicles being produced in the European Union during 2019, Europe has emerged as one of the prominent growth grounds for automotive engine encapsulation market, as these automobiles call in for massive demand for protective covers for engines. Moreover, a decent upsurge in Europe automotive engine encapsulation industry can also be reasoned by the stringent regulations laid down by the federal government pertaining to the reduction in carbon emission and accentuating the cool-down performance of the engines. Estimates claim that European automotive engine encapsulation market would exhibit a CAGR of 3.5% through 2027.
Typical passenger vehicle emits about 4.6 metric tons of toxic CO2 annually. Given the elevating carbon footprint worldwide, various automakers are looking forward to developing revolutionary innovations that have the ability to cut down the rising toxic levels. One such innovation is the introduction of automotive engine encapsulation. Automotive engine encapsulation provides potential thermal insulation for the engine bay in an attempt to reduce CO2 emissions and noise, while also accentuating the fuel efficiency of the automobile.
Europe automotive engine encapsulation market may record up to 3.5% CAGR over the estimated timeframe of 2021 to 2027. Countries like Spain, Russia, and Germany have some of the world’s leading automakers that house large scale automotive production facilities.
APAC is estimated to be a major contributor to this growth owing to presence of large automotive production facilities across countries like India, Japan, and China. Meanwhile, the automotive engine encapsulation market of Europe is expected to witness lucrative growth on the back of stringent regulations rolled out to reduce carbon emissions.
For instance, Shanghai Feili and Hefei Kaijie, two of the prominent auto component producers had in 2019, introduced BASF’s Elastofoam polyurethane integral foam for use in engine covers, in a bid to enhance the cabin comfort to some of the newly produced vehicles in China. According to news reports, Elastofoam PU offers superior control to noise, vibration, and harshness which stands out to be an ideal solution for cars allowing the riders to leverage benefits of better experience inside the vehicle’s cabin.
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Some Point from Table of Contents:
Chapter 4 Automotive Engine Encapsulation Market, By Product
4.1 Automotive engine encapsulation market insights, by product
4.2 Body Mounted
4.2.1 Global market estimates and forecasts, 2017 - 2027
4.2.2 Market estimates and forecast, by region, 2017 - 2027
4.3 Engine Mounted
4.3.1 Global market estimates and forecasts, 2017 - 2027
4.3.2 Market estimates and forecast, by region, 2017 - 2027
Chapter 5 Automotive Engine Encapsulation Market, By Vehicle
5.1 Automotive engine encapsulation market insights, by vehicle
5.2 Passenger Cars
5.2.1 Global market estimates and forecasts, 2017 - 2027
5.2.2 Market estimates and forecast, by region, 2017 - 2027
5.3 Commercial Vehicle
5.3.1 Global market estimates and forecasts, 2017 - 2027
5.3.2 Market estimates and forecast, by region, 2017 - 2027
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