Automotive Engine Cover Market Expected to Secure Notable Revenue Share during 2017-2022

Posted on 2018-12-05 by Mark Hub in Automotive // 0 Comments

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An up-to-date global market research report has been disclosed by FactMR highlighting the titled “Automotive Engine Cover Market Expected to Secure Notable Revenue Share during 2017-2022” which delivers an outlook of current automotive engine cover market value as well as the expected forecast including Rate on Investment (ROI) together with growing CAGR during 2017-2022. The report studies the Automotive Engine Cover Market worldwide, especially in North America, Europe, Southeast Asia, India and Other Regions with production, size, growth, revenue, consumption, import and export in these regions.

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Dramatic organic growth in the production and sales of passenger cars has been among the key factors generating demand for automotive engine cover. As governments are increasingly imposing strict regulatory standards such as CAFÉ (Corporate Average Fuel Economy) standards, automakers as well as vehicle owners are rapidly preferring a switch to lightweight automotive components, promoting fuel economy.

With significantly growing deployment of lightweight components by passenger car manufacturers, lightweight automotive engine cover market is likely to witness steady growth over the years ahead. Among passenger car types and commercial vehicles, compact and luxury passenger cars are expected to contribute relatively higher to the automotive engine cover market growth.

High Potential Lightweight Composites to Mark Dominance over Other Material Types in Automotive Engine Cover Market

The global automotive engine cover market report forecasts composites as the most favored material among automakers for automotive engine cover. While the choice of automotive engine cover material has been undergoing a constant shift from metals to plastics to composites, composites are estimated to firm up their top ranking position over the next five-year period.

The quest for lightweight vehicle components, high heat resistance, better fatigue properties, and superior strength-to-weight ratio is anticipated to compel automakers to prefer the use of composites in manufacturing automotive engine covers. Expanding R&D investments in lightweight composite automotive engine covers, coupled with a growing number of companies entering long-term contracts with OEMs, will possibly fillip the innovation and adoption of composite materials in the global automotive engine cover market.

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Adhering to the fact that automotive engine cover demands a specific balance of properties for proper maintenance of the dimensional appearance in addition to the warp resistance, a majority of automakers are encouraging automotive engine cover manufacturers to utilize materials that possess resistance to high temperature as well as under-the-hood chemicals.

Moreover, reduction of the engine noise is also a growing trend, which is effectively supported by acoustic automotive engine covers manufactured by using a wide range of high performance composite materials such as PET (polyethylene terephthalate) or polyester.

Consumers to Drive Innovation in the Use of Plastics in Automotive Engine Cover Manufacturing

Although a traditional territory of metals, the under-the-bonnet section of new age vehicles has been witnessing immense innovation over the years. While plastics include one of the extensively used materials in automotive engine cover manufacturing due to their offerings such as light weight, high design freedom, thermal resistance, and lesser manufacturing costs, research points to restricted preference for plastics among consumers.

One of the recent respondent surveys indicates that a sizable population of vehicle owners based in developing regions are reluctant about plastic automotive engine covers when it comes to DIY auto repair. Despite a majority of automotive engine covers are easy to remove and reinstall, car owners are often concerned about the plastic cover breakage. In an effort to address such concerns among consumers while adhering to the NVH (noise, vibration, and harshness) demands, automakers are investing their R&D efforts in the innovation of plastic and derived materials used for manufacturing of automotive engine cover.

To gain more insights on the various push and pull factors defining the performance of automotive engine cover market, request a free report sample here.

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