Dublin, Oct. 15, 2020 (GLOBE NEWSWIRE) -- The "Automotive Engine Encapsulation Market - By Material Type, By Vehicle Class, and By Region - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 - 2026" report has been added to ResearchAndMarkets.com's offering.
The 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.
The report offers assessment and analysis of the Automotive Engine Encapsulation market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Billion).
Automotive Engine encapsulation is the integration of thermoplastics and shells that are mounted across the engine of the automotive for insulating the engine from cold and thus keep it warm or retain its warmness doe an elongated period. Moreover, the product is utilized for transferring heat in the surrounding environment and to body of the engine to prevent cooling of engine.
Furthermore, the engine encapsulation helps in maintaining the engine heat, thereby improving the performance of the engine along with optimizing the performance of oils & lubricants. Apparently, the automotive engine encapsulation enhances the chances of high preliminary temperature of oil for quick start of engine the next time.
Market Growth Dynamics
Escalating need for sound-free and fuel conserving vehicles will provide impetus to the growth of the automotive engine encapsulation market over the forecasting years. In addition to this, enforcement of strict legislations by the government for reducing the emission of greenhouse gases from the vehicles owing to environmental concerns will accelerate the expansion of the industry over the years ahead.
Apparently, a paradigm shift witnessed in the automotive manufacturing sector through launching of electric and hybrid vehicles embedded with new technology and emitting no fuels can restrict the market growth in the near future.
Asia Pacific Market To Register Enormous Gains Over 2020-2026
The growth of the automotive engine encapsulation industry in the Asia Pacific during the forecast timeline is attributed to large production of vehicles in the countries like China, Japan, India, Indonesia, South Korea, and Thailand. In addition to this, ascending disposable incomes of the people in these countries & execution as well as observance of strict emission laws by the legal enforcement agencies and state authorities will further prompt the expansion of automotive engine encapsulation industry over the forthcoming years.
Key players influencing the market growth include ElringKlinger, Continental, Autoneum, Roechling, and Greiner.
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
For more information about this report visit https://www.researchandmarkets.com/r/sfsd0q
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