PUBLISHER: The Business Research Company | PRODUCT CODE: 1391006
PUBLISHER: The Business Research Company | PRODUCT CODE: 1391006
“Automotive Engine and Engine Mounts Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on automotive engine and engine mounts market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for automotive engine and engine mounts? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The automotive engine and engine mounts market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The automotive engine and engine mounts constitute the framework that securely holds the engine and transmission in place within a car, requiring minimal regular maintenance. This component serves the dual purpose of dampening vibrations generated by operating machinery and providing structural support to the motor, ultimately contributing to a smoother ride.
The primary product types within the automotive engine and engine mounts category include elastomer mounts, active hydraulic mounts, passive hydraulic mounts, and electrohydraulic mounts. Active hydraulic mounts employ specially generated compensation movements to counteract incoming engine vibrations. The fuel options for these engine mounts encompass gasoline, diesel, hybrid, and natural gas. Sales channels include Original Equipment Manufacturer (OEM) and aftermarket, while end-users primarily consist of Sport Utility Vehicles (SUVs) and sedans.
The automotive engine and engine mounts market research report is one of a series of new reports from The Business Research Company that provides Automotive engine and engine mounts market statistics, including Automotive engine and engine mounts market size, regional shares, competitors with an Automotive engine and engine mounts market share, detailed Automotive engine and engine mounts market segments, automotive engine and engine mounts market trends and opportunities, and any further data you may need to thrive in the Automotive engine and engine mounts industry. This Automotive engine and engine mounts market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The automotive engine and engine mounts market size has grown strongly in recent years. It will grow from $87.07 billion in 2023 to $93.91 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The expansion observed during the historic period can be attributed to several factors, including government regulations, the effects of globalization, an increase in disposable income, and a heightened demand for commercial vehicles.
The automotive engine and engine mounts market size is expected to see strong growth in the next few years. It will grow to $126.6 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The anticipated growth in the forecast period is linked to the adoption of electric vehicles (EVs), the increasing prevalence of autonomous vehicles, adherence to emission regulations, developments in trade agreements, and the overall expansion of the global market. Noteworthy trends expected during this period encompass advancements in combustion technologies, the integration of connectivity and the Internet of Things (IoT), the emphasis on sustainable and renewable fuels, the implementation of emission reduction technologies, and the utilization of 3D printing and additive manufacturing techniques.
The projected upswing in passenger car production is expected to drive the growth of the automotive engine and engine mounts market. Passenger cars, defined as road motor vehicles designed for the transportation of passengers with a seating capacity of no more than nine persons, are integral to this growth. The market is witnessing the evolution of adaptive engine mounts, an advancement of hydro mounts. These mounts are particularly applied to enhance comfort in passenger cars with longitudinally mounted engines and high excitation potential. A concrete example is the substantial year-on-year growth of 185% in total passenger vehicle sales, reaching 251,052 units in May 2022, as reported by Business Today, an India-based business magazine. This surge in passenger car production is a key driver for the automotive engine and engine mounts market.
Increasing investments in the automotive industry are poised to fuel the expansion of the automotive engine and engine mounts market. These investments encompass the allocation of capital across various facets of the automotive value chain, encompassing manufacturing, research and development, technology, and infrastructure. The funds are dedicated to ongoing enhancements in engines and engine mounts, focusing on research and development, regulatory compliance, innovation, supply chain optimization, and manufacturing processes. As per data from the European Automobile Manufacturers' Association (ACEA), EU investment in automotive research and development grew by 0.5% in 2021, reaching €59.1 billion annually. This upward trend in industry investments is anticipated to be a significant driver for the growth of the automotive engine and engine mounts market.
Prominent players in the automotive engine and engine mounts sector are embracing a strategic partnership approach to offer comprehensive solutions to their clientele. Strategic partnerships involve leveraging the strengths and resources of collaborating companies to achieve mutual benefits. A notable instance is McLaren Automotive, a luxury automotive manufacturer based in the UK, which entered into a strategic partnership with Ricardo, a UK-based strategic environmental and engineering consulting company, in January 2023. The objective of this collaboration is the production of McLaren's next-generation V8 power unit. Additionally, the partnership involves substantial investments in Shoreham's high-performance engine production facility, with a commitment from over 100 professional manufacturing engineers and technicians dedicated to delivering McLaren's high-performance powertrains.
Major players in the automotive engines and engine mounts sector are increasingly opting for joint venture agreements as a strategic approach to deliver comprehensive solutions to their customer base. A joint venture agreement involves a legal contract between two or more entities to collaborate on a specific business project or venture, sharing associated risks, costs, and profits. An illustrative example is the joint venture agreement formed in July 2023 between Geely Holding Group Co. Ltd., a China-based automotive manufacturer, and Renault Group, a France-based automotive company. This collaborative effort aims to establish a new powertrain technology firm with the objective of becoming the global leader in developing, manufacturing, and selling best-in-class hybrid powertrains and highly efficient ICE powertrains.
In July 2022, Bharat Forge Limited, a US-based manufacturer specializing in automotive engines and engine mounts, filtration, and power generation products, completed the acquisition of JS Auto Cast Foundry India Pvt. Ltd. for a deal amount of Rs 489.63 Crores (48.96 million). This strategic acquisition aligns with Bharat Forge Limited's objectives to expand its technologies, providing growth opportunities to enhance capabilities and addressable market segments both domestically and in export markets, particularly in niche industrial segments. JS Auto Cast Foundry India Pvt. Ltd., based in India, is a manufacturer of engines, engine parts, and mounts for the automotive industry.
Major companies operating in the automotive engine and engine mounts market include: Mitsubishi Heavy Industries Ltd., Cummins Inc., Continental AG, Y-Tec India Pvt Ltd., Trinity Auto Engineering Pvt Ltd., Scania AB, Hutchinson SA, Cooper Standard Automotive Inc., Trelleborg AB, Toyo Tire U.S.A. Corp, BWI Group, S M International, Sumitomo Riko Company Limited, Yamashita Rubber Co Ltd., WanLi Topshine, Hyundai Motor Company, Fiat Chrysler Automobiles, Roechling Group, Autoneum Holding AG, Trocellen Group, BASF SE, Johnson Matthey, Klarius Products Ltd., Umicore, Tenneco Inc., DCL International Inc., Ecocat India Pvt Ltd., N.E. CHEMCAT CORPORATION, Vibracoustic GmbH, Federal-Mogul LLC, Dana Holding Corporation, Mahle GmbH, BorgWarner Inc.
Europe was the largest region in the automotive engine and engine mounts market in 2023. The regions covered in this automotive engine and engine mounts market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the automotive engine and engine mounts market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The automotive engine and engine mount market consist of sales of transmission mounts, metal motor mount, electronic engine mounts, and polyurethane motor mounts. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.