The increasing demand for engine components for a broad spectrum of applications across various industrial domains, including agriculture, marine, stationery engines, and automotive is expected to remain the key factor in driving the global engine components market. Innovations and new product development activities are likely to occur in line with the evolving regulatory framework and the growing demand for energy efficiency.
Market Analysis and Insights: Global Engine Component Market
Due to the COVID-19 pandemic, the global Engine Component market size is estimated to be worth US$ million in 2022 and is forecast to a readjusted size of US$ million by 2028 with a CAGR of % during the forecast period 2022-2028. Fully considering the economic change by this health crisis, Gasoline accounting for % of the Engine Component global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR from 2022 to 2028. While Passenger Car segment is altered to an % CAGR throughout this forecast period.
North America Engine Component market is estimated at US$ million in 2021, while Europe is forecast to reach US$ million by 2028. The proportion of the North America is % in 2021, while Europe percentage is %, and it is predicted that Europe share will reach % in 2028, trailing a CAGR of % through the analysis period 2022-2028. As for the Asia, the notable markets are Japan and South Korea, CAGR is % and % respectively for the next 6-year period.
The global major manufacturers of Engine Component include AcDelco, AmTech International, Burgess-Norton Mfg. Co. Inc, Decora Auto Forge Pvt. Ltd., DNJ Engine Components, DREWCO Corporation, Eaton, EFC International and Federal-Mogul, etc. In terms of revenue, the global 3 largest players have a % market share of Engine Component in 2021.
Global Engine Component Market: Drivers and Restrains
The research report has incorporated the analysis of different factors that augment the market's growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2017 to 2028. This section mentions the volume of production by region from 2017 to 2028. Pricing analysis is included in the report according to each type from the year 2017 to 2028, manufacturer from 2017 to 2022, region from 2017 to 2022, and global price from 2017 to 2028.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert's opinions have been taken to understand the market better.
Global Engine Component Market: Segment Analysis
The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2017 to 2028. by Application segment also provides consumption during the forecast period of 2017 to 2028. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
Segment by Type
Gasoline
Diesel
Segment by Application
Passenger Car
Light Commercial Vehicle
Heavy Commercial Vehicle
By Company
AcDelco
AmTech International
Burgess-Norton Mfg. Co. Inc
Decora Auto Forge Pvt. Ltd.
DNJ Engine Components
DREWCO Corporation
Eaton
EFC International
Federal-Mogul
GT Technologies
Hangzhou Heng Ji Trading Co., Ltd.
Indo Schottle Pvt. Ltd
ITW Automotive
Kent Automotive
LISI Automotive
LuK GmbH & Co. KG
Melling
Nanjing Superior Machine & Parts Co
Nittan Valve Co.,Ltd.
Production by Region
North America
Europe
China
Japan
South Korea
India
Consumption by Region
North America
United States
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
China Taiwan
Indonesia
Thailand
Malaysia
Latin America
Mexico
Brazil
Argentina