PUBLISHER: Grand View Research | PRODUCT CODE: 1474940
PUBLISHER: Grand View Research | PRODUCT CODE: 1474940
The global automotive engine encapsulation market is anticipated to reach USD 3.73 billion by 2030 and is projected to grow at a CAGR of 5.1% from 2024 to 2030, according to a new report by Grand View Research, Inc. The growing demand for fuel-efficient, high-performance, and silent automobiles is resulting in a high level of automotive engine encapsulation in the global market. Automotive manufacturers are also attempting to develop sophisticated technologies in vehicles that will suit customer needs while also meeting the government's laws and standards for fuel emissions and safety.
Moreover, the increasing demand for thermal management in high-speed vehicles has been a main driver of the automotive engine encapsulation industry, which is expected to grow further. The growing need for smooth and fuel-efficient vehicles is driving up demand for automotive engine encapsulation around the globe.
Government-sponsored initiatives, including screening programs, awareness campaigns, and specific engine encapsulation schemes, are projected to increase the number of advanced technologies in automotive. For instance, in April 2023, Henniges announced the expansion of its production facilities to accommodate the growing demand for engine encapsulation systems. This investment indicates the company's expectations for the market's future growth.