Global Automotive Engine Encapsulation market garnered earnings worth approximately 5 (USD Billion) in 2019 and is set to record a CAGR of over 7% the period from 2020 to 2026.
New York, United States - October 28, 2020 /MarketersMedia/ —
As per Zion Market Research, the global automotive engine encapsulation market is expected to expand at a CAGR of more than 7% during 2020- 2026 with accrued earnings worth nearly USD 5 billion in 2019.. The major growth factors of the global market are the increasing requirement for silent cars, the strict emission rules for the automotive sector, and the increment for aerodynamically efficient and fuel-efficient vehicles.
Some of the major companies active in the global market are ElringKlinger, Autoneum, Roechling, Continental, and Greiner.
Body Mounted Encapsulation Is Expected To Have The Utmost Market Share In The Global Market By Value In The Coming Years
Body mounted encapsulation is expected to have the utmost market share in the global market by value in the coming years. This can be credited to two primary reasons—coverage and price. The cost of these systems is very high, since they are created of premium substances such as carbon fiber. In addition to this, unlike engine based encapsulations that wrap only specific areas of the engine, the elements of these systems are positioned surrounding the engine.
Carbon fiber is a high-quality, enhanced substance employed for automotive engine encapsulations. Although carbon fiber is costly, it is used by luxury vehicle firms due to its lightweight and outstanding thermal insulation & noise cancellation characteristics. In addition to this, the rise in disposable revenue in developing nations such as China and India is elevating the luxury vehicles market, which is powering the global market positively.
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The Gasoline Engine Vehicle Category Is Predicted To Be The Quickest Developing Market In The Coming Years
The gasoline engine vehicle category is predicted to be the quickest developing market in the coming years. Gasoline vehicles from their engines create a small volume of exhaust in comparison to diesel engine cars. Moreover, eco-friendly updates implemented by various governments have resulted in a worldwide drop in the creating of diesel cars. Therefore, the OEMs are aiming on creating their gasoline models acoustically and thermally efficient by adding engine encapsulations.
The Asia Pacific Area Predicted To Lead The Market By Value As Well As Volume In The C Coming Years
The Asia Pacific area is predicted to lead the market by value as well as volume in the c coming years. The Asia Pacific area presently adds up for over 50% of the worldwide automobile creating. The area includes developing nations such as India and China together with developed economies such as South Korea and Japan. The rise in disposable revenue in developing nations such as China and India and increasing stringency of emission rules are the major factors powering the Asia Pacific market.
The global automotive engine encapsulation market is segmented as follows:
By Material Type
By Product Type
By Vehicle class
Economic light-duty vehicles
Mid-priced light-duty vehicles
Luxury light-duty vehicles
By Fuel Type
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East & Africa
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