Overview
TechSci Research’s report on the “Global Engine Mounts and Engine Market” reveals that in 2022, the market reached a valuation of USD 87 billion. The forecast for the period from 2024 to 2028 suggests a continued growth trajectory with a Compound Annual Growth Rate (CAGR) of 6.1%. Several key drivers are propelling this market forward, including continuous technological advancements in engine components, increased demand for high-performance engines, and stringent emission regulations.
Driving Forces
1. Technological Advancements in Engine Components
The market is benefiting significantly from the continuous advancements in engine components. Innovations such as advanced fuel injection systems and efficient turbochargers are not only enhancing engine performance but also contributing to improved fuel efficiency and reduced emissions. These developments are crucial in aligning the automotive industry with environmental standards.
2. Demand for High-Performance Engines
Various sectors, including automotive, transportation, and industrial applications, are experiencing a growing need for high-performance engines. Consumers and industries alike seek more powerful and reliable vehicles. The market is adapting to cater to these demands by providing advanced engine mounting systems and high-performance engines.
3. Stringent Emission Norms and Regulations
Governments and environmental agencies worldwide have implemented stringent emission norms and regulations. Manufacturers are compelled to develop engines that comply with these standards, further driving the market’s growth as they strive for cleaner and more environmentally friendly engine solutions.
4. Growth of the Automotive Industry
The expansion of the global automotive industry has created a conducive environment for the engine mounts and engines market. The rise in disposable income among consumers has led to an increased preference for luxury vehicles, which often require high-performance engines and advanced engine mounting systems. Additionally, the expanding commercial and passenger vehicle sector, fueled by urbanization and infrastructure development, contributes significantly to market growth as more people rely on automobiles for transportation.
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Market Significance
The global engine mounts and engine market is a critical component of both the automotive and manufacturing sectors. Engine mounts, also known as motor mounts or engine supports, play an integral role in securing the engine to the vehicle’s frame while dampening vibrations and reducing noise. Engines, as primary power sources for vehicles, are continuously evolving to meet changing consumer demands and stringent environmental regulations.
Market Growth
The market has exhibited steady growth over the years, driven by factors such as increasing vehicle production, technological advancements, and the global expansion of the automotive industry. As more countries industrialize and urbanize, the demand for automobiles, both personal and commercial, continues to rise, directly impacting the need for engine mounts and engines.
Adapting to Electric and Hybrid Vehicles
A significant trend is the growing need for engine mounts tailored to electric and hybrid vehicles, aligning with the global shift towards cleaner and more sustainable transportation solutions. The introduction of stringent emissions regulations has spurred innovation in engine design, translating into opportunities for manufacturers of specialized engine mounts.
Competitive Landscape
The global engine mounts and engine market is highly competitive and features a mix of established players and newer entrants. Prominent companies in the market include Hutchinson SA, Vibracoustic GmbH, ContiTech AG, Mahle GmbH, and Cummins Inc. These industry leaders are known for their expertise in producing high-quality engine mounts and engines, catering to the diverse needs of the automotive industry.
Technological Advancements
Technological advancements are at the forefront of the global engine mounts and engine market. Lightweight materials such as aluminum, carbon fiber, and high-strength steel are increasingly used to create robust yet lightweight engine mounts, contributing to improved fuel efficiency, reduced emissions, and overall sustainability. Active engine mounts equipped with sensors and actuators have also gained traction, enhancing passenger comfort.
Regulatory Impact
The market is significantly influenced by regulatory changes, particularly in emissions standards and safety requirements. Stringent emissions regulations have pushed automotive manufacturers to develop cleaner, more fuel-efficient engines, impacting engine mount design. Compliance with safety standards necessitates the development of robust and energy-absorbing engine mount designs.
Consumer Preferences
Consumer preferences are increasingly focused on fuel efficiency, environmental considerations, and the driving experience. Modern consumers are highly conscious of the environmental impact of their vehicles, driving the demand for cleaner, more efficient engines. Engine mounts play a crucial role in supporting the latest engine technologies designed to enhance fuel efficiency and reduce emissions.
Shift to Electric and Hybrid Vehicles
The shift towards electric and hybrid vehicles has further influenced consumer preferences. Electric vehicles, known for their quiet operation and minimal vibrations, require advanced engine mounts capable of effectively dampening noise and vibrations, thereby enhancing the driving experience.
What will you get into the sample report?
The sample report will provide detailed insights into the Global Engine Mounts and Engine Market, including market size, growth drivers, challenges, competitive landscape, and future prospects. It will offer valuable information for industry stakeholders, businesses, and investors looking to understand and navigate this dynamic market.
Who will benefit from this Report?
This report will benefit a wide range of stakeholders, including:
- Automotive industry professionals and executives seeking market intelligence and growth opportunities.
- Manufacturers of engine mounts and engines looking to cater to evolving market demands.
- Investors interested in the automotive industry’s potential for investment and growth.
- Researchers and analysts examining trends and developments in the automotive and manufacturing sectors.
- Government agencies and regulatory bodies tracking the transformation of the automotive industry towards cleaner and more efficient transportation solutions.
Major companies operating in Global Engine Mounts and Engine Market are:
- 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
Customers can also request for 10% free customization on this report.
“The major drivers for the Global Engine Mounts and Engine Market include technological advancements in engine components, increasing demand for high-performance engines, stringent emission norms, and the growth of the automotive industry worldwide. Additionally, the rise in disposable income, leading to an increased preference for luxury vehicles, is also propelling this market. Moreover, the expanding commercial and passenger vehicle sector further contributes to market growth.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm. By Vehicle Type (Passenger Car, Two Wheelers, and Commercial Vehicle), By Engine Type (L4, L6, V6 and V8 Engine), By Fuel Type (Gasoline, Diesel, Natural Gas and Hybrid), By Engine Mounts (Elastomer, Hydraulic and Electro-hydraulic), By Regional, By Competition, Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Global Engine Mounts and Engine Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Engine Mounts and Engine Market.
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