The automotive engine encapsulation market is projected to grow at a CAGR of 6.13% during the forecast period, from USD 4.16 Billion in 2018 to USD 6.30 Billion by 2025.
The growing demand for silent vehicles, the stringent emission norms for the automotive industry, and the rise in demand for fuel-efficient, aerodynamically efficient, and stylish vehicles, are collectively expected to drive the automotive engine encapsulation market.
Body mounted encapsulations is estimated to grow at the fastest rate in the automotive engine encapsulation market
Body mounted encapsulation is projected to be the fastest-growing segment of the automotive engine encapsulation market. This segment is estimated to have the highest growth potential in the automotive engine encapsulation market, especially in Europe, which has a high penetration of luxury light-duty vehicles. This vehicle segment is the primary application of body mounted encapsulations currently. Extensive R&D is being carried out to reduce the price of the material of body mounted encapsulations, which in turn would decrease the price of body mounted encapsulation systems. This could possibly bring in body mounted systems into mid-priced vehicles as well. Hence, this segment is expected to show promising growth by 2025.
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Carbon fiber is estimated to be the largest segment of the automotive engine encapsulation market
Carbon fiber is an advanced material used in automotive engine encapsulations. Though carbon fiber is expensive, it is popular as it can be used in lightweight engine covers and shields. A lightweight material is preferred for the manufacturing of body-mounted engine encapsulations, which cover all the sides of the engine and are generally installed in luxury vehicles. Hence, carbon fiber is mostly preferred in high-end vehicles. The increasing demand for luxury light-duty vehicles around the globe is the key factor driving the growth of carbon fiber in the automotive engine encapsulation market.
Asia Pacific: Largest regional market for automotive engine encapsulation
The Asia Pacific is estimated to be the largest market for automotive engine encapsulation. The Asia Pacific region accounts for about 50% of the global automobile production. The region comprises emerging economies such as China and India along with developed nations such as Japan and South Korea. The growing infrastructural developments in developing countries such as China and India and the increasingly stringent emission regulations are the key factors driving the growth of automotive engine encapsulation market in the Asia Pacific region.
Key Market Players
The report covers all the major players in the automotive engine encapsulation market, including established players such as Autoneum (Switzerland), Continental (Germany), Roechling (Germany), ElringKlinger (Germany), Greiner (Austria), Furukawa Electric (Japan), Woco (Germany), Adler Pelzer (Germany), SA Automotive (US), Hennecke (Germany), and a few globally established suppliers, such as BASF (Germany), 3M (Germany), Saint-Gobain (France), Polytec (Austria), Evonik (Germany), Carcoustics (Germany), Uniproducts (India), and UGN (US).
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