New York, March 06, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Automotive Engine and Engine Mounts Global Market Report 2023" - https://www.reportlinker.com/p06426345/?utm_source=GNW
, Trelleborg AB, Toyo Tire U.S.A. Corp, BWI Group , S M International, Sumitomo Riko Company Limited, Yamashita Rubber Co Ltd., and WanLi Topshine
The global automotive engine and engine mounts market grew from $79.71 billion in 2022 to $86.68 billion in 2023 at a compound annual growth rate (CAGR) of 8.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The automotive engine and engine mounts market is expected to grow to $119.35 billion in 2027 at a CAGR of 8.3%.
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 automotive engine and engine mounts refer to the frame of the car engine that holds the engine and transmission in place and doesn’t require regular maintenance.It is employed to dampen vibrations that are caused by operating machines and to support the motor.
It is used for reducing vibrations and making the ride much smoother.
Europe was the largest region in the automotive engine and engine mounts in 2022. The regions covered in this automotive engine and engine mounts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main product types of automotive engine and engine mounts are elastomer mounts, active hydraulic mounts, passive hydraulic mounts, and electrohydraulic mounts.Active hydraulic mounts use specially generated compensation movements to neutralize the incoming engine vibrations.
The fuel types are gasoline, diesel, hybrid, and natural gas.The sales channels are OEM and aftermarket.
The end users involved SUVs and sedans.
The rising production of passenger cars is expected to propel the growth of automotive engines and engine mounts going forward.A passenger car refers to a road motor vehicle, other than a motor cycle, intended for the carriage of passengers and designed to seat no more than nine persons.
Adaptive engine mounts are a further development of hydro mounts and are primarily used to increase comfort in longitudinally mounted engines with high excitation potential in passenger cars.For instance, in May 2022, according to Business Today, an India-based business magazine data, total passenger vehicle (PVs) sales in May 2022 rose 185% year-on-year (YoY) to 251,052 units.
In May 2021, 88.04k passenger vehicle units have been sold. Therefore, the rising production of passenger cars is driving the automotive engines and engine mounts market.
Technological advancements are a key trend gaining popularity in the automotive engine and engine mount market.Major companies operating in the automotive engine and engine mount market are focused on developing new technological solutions to strengthen their position.
For instance, in December 2020, Cummins, a US-based manufacturer of automotive engines and engine mounts, launched the X15 Efficiency series engine and the new EndurantTM HD powertrain for Freightliner trucks. X15 Efficiency series consists of The Acumen® advanced engine computing module and is the first connectivity-enabled engine by Cummins with unique features such as On-Ramp Boost, which makes use of GPS to recognize when a truck is approaching an on-ramp and applies predictive services and geographic data for better fuel efficiency, shorter travel times, and intuitive performance traits while prioritizing driver comfort and safety.
In July 2022, Bharat Forge Limited, a US-based manufacturer of automotive engine and engine mounts, filtration, and power generation products acquired JS Auto Cast Foundry India Pvt. Ltd. for a deal amount of Rs 489.63 Crores( 48.96 million). With this acquisition, Bharat Forge Limited aims to broaden its technologies that will provide growth opportunities for enhancing capabilities and addressable market segments both domestically and in export markets, especially in niche industrial segments. JS Auto Cast Foundry India Pvt. Ltd. is an India-based manufacturer of engines, engine parts, and mounts for the automotive industry.
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 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.
The automotive engine and engine mounts market research report is one of a series of new reports that provides Automotive engine and engine mounts market statistics, including Automotive engine and engine mounts industry global market size, regional shares, competitors with an Automotive engine and engine mounts market share, detailed Automotive engine and engine mounts market segments, 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.
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