The Global Automotive Engine and Engine Mounts Market was worth US$ 92.08 billion in 2022 and is anticipated to reach a valuation of US$ 129.07 billion by 2028 and is predicted to register a CAGR of 6.05% during 2023-2028.
The growing demand for small, fuel-efficient engines is the main driver of growth in these markets. Engine mounts generally have a long life and require little maintenance and upkeep, but once they break, they must be replaced quickly as engine noise and car vibrations increase significantly. The market is expected to witness the introduction of new and advanced products with improved damping characteristics. The cost of replacing car shock absorber mounts is likely to vary widely as it depends on the make and model of the vehicle.
Market Drivers:
Increasing passenger vehicle and utility vehicle production volumes are supposed to drive the global automotive engine and engine mounts market over the outlook period. Rapid improvements by automakers to develop materials with better damping effects are likely to drive the automotive engine mounts market in the coming years. Increased consumer awareness of improving vehicle fuel efficiency by reducing vehicle emissions is estimated to further boost the automotive engine mounts market over the conjecture period. The increasing investments made by leading sports car manufacturers to provide advanced engine mounts capable of providing maximum vibration damping is essential in the case of high-performance vehicles such as motor vehicles. Sports cars are foreseen to further stimulate the global automotive engine and engine mount market in the near future.
Market Restraints:
Increasing efforts by OEMs and governments in various countries around the world are expected to spur the development and use of electric vehicles, which do not require the motor and motor mount for their operation, limiting the automotive engine and engine mount market during the estimated period.
Market Recent Developments:
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REPORT METRIC |
DETAILS |
|
Market Size Available |
2022 – 2028 |
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Base Year |
2022 |
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Forecast Period |
2023 - 2028 |
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CAGR |
6.05% |
|
Segments Covered |
By Product Type, Vehicle Type, Sales Channel, and Region. |
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Various Analyses Covered |
Global, Regional and Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
Cummins Inc, Hyundai Motor Company, Mitsubishi Heavy Industries, LTD., MAHLE GmbH, Scania, Fiat Chrysler Automobiles, Hutchinson, Cooper Standard, Trelleborg AB, Toyo Tire U.S.A. Corp, Yamashita Rubber, Sumitomo Riko Company Limited, ZF Friedrichshafen AG, BOGE Rubber & Plastics, and BWI Group., and Others. |
Market Segmentation:
The elastomeric mounts segment is expected to dominate the automotive engine and engine mounts market during the outlook period due to the advantages offered by elastomeric mounts, such as low noise and vibration, improved engine life, improved engine flexibility, and high engine performance compared to other types of engine mounts.
The passenger cars segment is foreseen to experience considerable growth during the conjecture period due to higher passenger vehicle production volumes in recent years.
The aftermarket segment is estimated to develop at a significant growth rate during the forecast period due to the need to replace a vehicle's engine mount when it breaks down, due to excessive engine vibration after use that is dragged on.
Market Regional Analysis:
The Global Automotive Engine and Engine Mounts Market Report includes the segmentation of regions:
The United States is anticipated to account for a significant portion of the demand in the North American automotive engine and engine mounts market in the coming years. Europe is expected to be the next major market for automotive engine mounts, in terms of volume and value demand over the foreseen period. The region's market is estimated to remain a dynamic access point for research and development during the outlook period, as the region is a base for key technology leaders in the automotive business. With the surge in the manufacturing of passenger cars and commercial vehicles, the Asia-Pacific is estimated to develop with a significant growth rate in automobile engine mounts business over the conjecture period. China, India, ASEAN, and South Africa are expected to be the main contributors to market growth. Japan is predicted to experience moderate and steady growth during the envisioned period.
The coronavirus pandemic has had a quick and serious effect on the universally incorporated car industry. Indications remember a disturbance for Chinese parts sent out, huge scope fabricating interferences across Europe and the conclusion of assembling plants in the United States. This is setting serious weight on an industry previously adapting to a downshift in worldwide interest, and likely prompting expanded mergers and securing action.
Mechanical Equipment organizations are wrestling with the quick effect of COVID-19 as both their assembling and supply chain tasks are being disturbed, and their clients' activities face comparative difficulties. This is having an exponential impact on the entire provider organization, hitting Industrial Equipment organizations with a slack, yet at full power in any case.
Market Key Players:
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