The global cylinder head cover market is estimated at US$ 93.39 Million in 2021 and is likely to secure a value of US$ 94.69 Million in 2022, reflecting a year-on-year increase of 1.4%. The market is anticipated to procure around US$ 115 Million while recording a CAGR of 2% during the forecast period from 2022 to 2032. Increasing efforts by the government of various countries to enhance fuel efficiency and lessen fuel emissions are expected to play a significant role in driving the market during the forecast period.
| Report Attribute | Details |
| Estimated Base Year Value (2021) | US$ 93.39 Million |
| Expected Market Value (2022) | US$ 94.69 Million |
| Anticipated Forecast Value (2032) | US$ 115 Million |
| Projected Growth Rate (2022-2032) | 2% CAGR |
The rapid growth of the automotive industry is anticipated to drive the market in the forecast period. With the growing demand for modern engines, automotive cylinder head cover has gained significant traction in the current time. Rising customer demand and high living standards have resulted in the increased willingness of the players to design more efficient cylinder head covers.
Based on engine type, inline engines are the most commonly used type of engine. The V segment is anticipated to grow at a significant rate during the forecast period. The expansion of the segment can be credited to the benefits offered by V-engines against inline engines like compactness and the capability to offer more torque at lower rpm, ranges.
As of now, most of the OEMs offer cylinder heads for their cars in cast iron since it is cheaper and more affordable. However, aluminum is likely to give a tough competition to cast iron and is likely to replace cast iron as the leading segment in the coming time. The increased demand for aluminum can be attributed to its characteristics like low weight and the capability to form into complex parts.
The players of the market are making massive investments in the development of cylinder head covers since there has been a change in consumers’ behavior. The latest introduced automobile regulations direct to low down the Co2 emissions and higher fuel efficiency, which has motivated the players to invest in the automotive cylinder head.
Increasing usage of new manufacturing techniques like injection molding has allowed companies to produce complex designs of cylinder head covers with ease in very less time. This trend is likely to retain its position in the market, thereby, benefitting the industry.
Increasing carbon emission is one of the key factors impeding market growth. With the imposition of several rules and regulations that curb Co2 emission, the industry is likely to face setbacks since investors are turning towards the manufacturing of EVs. And EVs do not require a cylinder head cover.
The government of several countries has taken initiatives to promote the usage of electric vehicles, which is a huge challenge to the market. For instance, India aims to switch 30% of private cars, 70% of commercial vehicles, and 80% of two and three-wheelers to EV by 2030. Such initiatives will block the expansion of the industry in the coming time.
The players of the market are making massive investments in the development of cylinder heads since customers’ preferences have changed significantly. The fast-developing countries like India, China, and Japan are making bulky investments in the automobile sector, which is driving the global cylinder head cover market significantly. As per the analysis, the market in APAC is anticipated to record a CAGR of 2% during the forecast period.
In India, Hyundai, Mahindra & Mahindra, Toyota, Honda, and Ford India added new passenger cars to their product line-up. With the launch of Harrier and the re-introduction of Safari, Tata is set to dominate the Indian SUV and MPV market. In October 2021, Mahindra introduced its new car, XUV 700 to the SUV segment. Within 2 months of the news, there were more than 65000 bookings. In another instance, in June 2021, Hyundai launched its new car, Alcazar, to SUV line up with 4000 pre-launch bookings in India. With the growing contribution of India in APAC, the market is expected to grow significantly during the forecast period.
Various policies have been implemented that aim at efficient management of automobiles. With the increasing regulation in a vehicle, the market has been witnessing a wide scope of growth. For instance, in the U.S the Federal Motor Carrier Safety Administration (FMCSA) is accountable to prevent fatalities and injuries related to commercial vehicles. The authority has drafted a regulation with respect to the size of goods being carried in a vehicle.
Such initiatives are expected to offer significant opportunities for expansion to the automotive industry, thereby, bolstering the demand for cylinder head cover. The analysis reveals that the region is expected to garner maximum revenue during the forecast period. The regional market is predicted to record a CAGR of 3% in the assessment tenure. The US is projected to be the most significant contributor.
Some of the key participants of the global cylinder head cover market are Genmot Crankshaft Industry, Shanghai Kowin Automotive Components Co., Ltd., Dana Limited., BRUSS North America, Lioho Machine Works, Vinod And Company, ElringKlinger AG, Sogefi SpA, MPC, and MAHLE GmbH among others.
| Report Attribute | Details |
| Growth Rate | CAGR of 2% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015-2020 |
| Forecast Period | 2022-2032 |
| Quantitative Units | Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
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| Regions Covered |
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| Customization | Available Upon Request |
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FMI projects the global cylinder head cover market to expand at a 2% value CAGR by 2032
North America is expected to lead the market while expanding at a CAGR of 3% during the forecast period.
Genmot Crankshaft Industry, Shanghai Kowin Automotive Components Co., Ltd., Dana Limited and BRUSS North America are some of the eminent players of the market.
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