Global Automotive Engine Encapsulation Market 2018-2022 | Rise in Demand for Electric Vehicles to Encourage Growth | Technavio
LONDON--(BUSINESS WIRE)--Oct 3, 2018--The global automotive engine encapsulation market is expected to post a CAGR of nearly 7% during the period 2018-2022, according to the latest market research report by .
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Technavio has published a new market research report on the global automotive engine encapsulation market for the period 2018-2022. (Graphic: Business Wire)
A key factor driving the growth of the market is the growing focus on public transport. Increasing pollution levels are forcing governments to invest in public transportation. The rapidly growing cities in emerging countries are among the worst affected by the deteriorating levels of air quality. The increase in the levels of pollution adversely affects the health of people and the quality of life. The exponential growth of the passenger car industry has led to an unprecedented rise in air toxicity with the presence of a high percentage of ultra-fine particulates that are less than 2.5 microns in size.
This market research report on the also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights the rise in demand for electric vehicles as one of the key emerging trends in the global automotive engine encapsulation market:
Global automotive engine encapsulation market: Rise in demand for electric vehicles
EVs can be recharged using an external source of electricity, such as the electricity stored in the rechargeable battery packs drives or wall sockets. As these vehicles work on electricity, they do not emit harmful air pollutants. Thus, EVs help in reducing the harmful impact on the environment. Hence, the adoption of EVs among customers is increasing.
“The energy efficiency of electric cars is more than that of gasoline-powered cars owing to the reduction in transmission and distribution losses. The compactness and the smooth riding experience of electric cars are attractive to consumers. The stop-and-go technology, which is deployed in electric cars and hybrid cars, is the major challenge for cars with combustion engines. Energy efficiency is enhanced in electric cars owing to the provision of a regenerative braking system. The key reason underlying the growth of electric cars is the low maintenance cost due to fewer moving parts,” says a senior analyst at Technavio for research on automotive components.
Global automotive engine encapsulation market: Segmentation analysis
This market research report segments the global automotive engine encapsulation market by type (body mounted and engine mounted) and geographical regions (APAC, EMEA, and the Americas).
The body mounted segment held the largest market share in 2017, accounting for nearly 78% of the market. This type segment is expected to dominate the global market throughout the forecast period.
APAC led the market in 2017 with a market share of nearly 50%. This region is expected to dominate the market through 2022, with an increase in its market share by nearly 1%.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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INDUSTRY KEYWORD: MANUFACTURING AUTOMOTIVE MANUFACTURING ALTERNATIVE VEHICLES/FUELS AUTOMOTIVE
SOURCE: Technavio Research
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PUB: 10/03/2018 03:35 PM/DISC: 10/03/2018 03:35 PM