Selbyville, Feb 23 (Agency) Global Market Insights, Inc. has recently added a new report on the automotive engine encapsulation market which estimates the market valuation for automotive engine encapsulation will cross US$ 8 billion by 2027. The increasing need for thermal insulation solutions for the engine bay to reduce noise, carbon emissions, and improve fuel efficiency will drive the industry growth.
Car manufacturers are continuously improving their engine design, which is becoming more compact, leading to the need for more higher & efficient temperature insulation materials, which provide superior protection, have low insulation properties, and also lower vibration. To accommodate this need, many market participants are developing materials that are engineered to consumers need for specific applications. Market players are focusing on forward integration, in terms of services from material selection for the engine encapsulation to the final installation, which helps manufacturers to simulate the performance of engine encapsulation such as acoustic absorption and insulation performance. The aftermarket is expected to observe a decent growth during the forecast period, since engine encapsulation helps to reduce up to 40% – 60% noise, radiant heat, and vibration generated from the automotive vehicle engine. Owing to large heat, vibration, and noise generation in vehicles, engine encapsulation has a sensible replacement rate. The aftermarket size depends on the higher solution quality along with customer preferences toward the price of the product. Cost-effectiveness is a key advantage that will expand the market growth during the forecast period.
Europe automotive engine encapsulation market size will witness around 3.5% CAGR over the forecast timeframe. Countries including Russia, Spain, and Germany have significant automotive production. The rise in the Europe automotive engine encapsulation market can be attributed to strict regulations to reduce carbon emission and improve cool-down performance of the engine. The key automotive engine encapsulation market players are investing in increasing their production capacity and footprint along the way. For instance, in 2018, Dana Limited inaugurated its new manufacturing facility in China. This new manufacturing facility will produce thermal management solutions for conventional & new-energy vehicles.
Some major findings of the automotive engine encapsulation market report include:
• Asia Pacific will lead automotive engine encapsulation market size due to its large automotive production in emerging countries including China, Japan, and India.
• Automotive engine encapsulation manufacturers are concentrating on value addition in their solutions by developing materials, which have high specific heat capacity, thermal conductivity, and reflectivity & emissivity.
• The engine mounted segment is growing at a considerable rate as it requires a small surface to be insulated and has low costs and higher efficiency since it is closer to the heat and noise source.
• The ongoing covid-19 has affected the global automotive production owing to severe lockdown and social distancing norms by several government authorities. Moreover, the usual pause duration of an automotive engine encapsulation manufacturing plant across the world is about 20 – 30 working days, which is likely to affect the overall sales of automotive engine encapsulation in 2020.