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(I-AutoNewsWire.com, November 15, 2018 )
Stratview Research announces the launch of a new research report on Global Automotive Engine Cover Market by Vehicle Type (Passenger Car, Light Commercial Vehicle, and Medium & Heavy Duty Commercial Vehicle), by Material Type (Composites, Metals, Thermoplastics, and Others), by Manufacturing Process Type (Injection Molding, Casting, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2017-2022
The Global Automotive Engine Cover Market: Highlights
As per Stratview Research, The global automotive engine cover market was valued at US$ 1,077.7 million in 2016 and is likely to grow at a 3.2% CAGR over the next five years to reach US$ 1,292.5 million in 2022. The key factors driving the market are organic growth in the automobile production owing to increasing disposable income and growing urbanization; an advancement in the engine cover technology; and increasing demand for lightweight engine covers driven by the stringent government regulations, such as CAFÉ Standards.
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The global automotive engine cover market is segmented based on vehicle type as the passenger car, light commercial vehicle, and medium & heavy duty commercial vehicle. The passenger car is expected to remain the largest and fastest-growing segment of the automotive engine cover market during the forecast period of 2017 to 2022. The higher production of passenger cars and rising demand for lightweight engine covers are driving the growth of the segment over the next five years.
The supply chain of this market comprises raw material suppliers, thermoplastic composite compounders, engine cover manufacturers, distributors, automotive OEMs, and dealers. The key automotive engine cover manufacturers are Magna International, Inc., MAHLE GmbH, Polytec Group, Miniature Precision Components, Inc., The Mondragón Cooperative Corporation (MCC), Montaplast GmbH, Rochling Group, and Toyoda Gosei Co., Ltd. Developing lightweight composite engine cover and forming long-term contracts with OEMs are the key strategies adopted by the major players to gain a competitive edge in the market.
About Stratview Research
Stratview Research is a global market intelligence and strategic research firm offering wide range of services including syndicated market reports, custom research, and procurement intelligence across industries such as Advanced Materials, Composites, Aerospace and Defense, Automotive and Transportation, Construction and Equipment, Energy and Utility, Consumer Goods, Marine, and Oil and Gas.
Stratview Research
Ritesh Gandecha
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Source: EmailWire.Com
Source: EmailWire.com
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