The global automotive parts packaging market was valued at US$ 7,143.4 Mn in 2017 and is expected to be valued at over US$ 10,000 Mn by 2027 end. The market is expected to expand at a CAGR of 4.0% in terms of market value during the forecast period 2017-2027.
Primarily driven by the increasing involvement of electrical and electronic equipment in the automobiles, the global market is observed to generate decent revenues.
The study has considered the base year as 2019, which estimates the market size of market and the forecast period is 2020 to 2027. The report analyzes and forecasts the market size, in terms of volume (thousand units) and value (USD million), for the market. The report provides a detailed analysis of various forces acting in the market (drivers, restraints, opportunities, and challenges). The report covers key players and comprehensively analyzes their market shares and core competencies. It also tracks and analyzes competitive developments such as joint ventures, mergers & acquisitions, new product launches, expansions, and other activities carried out by key industry participants.
Growing Preference for Disposable Packaging and Flexible Packaging to Trend in Market
The global automotive parts packaging market is characterized by the fluctuation in the demand of automobiles and after sales market for spare parts. Moreover, increasing incorporation of reusable packaging while packing heavy components such as underbody components, engine components, cooling systems, and others will also support market growth in next few years. While disposable packaging is being widely preferred and has been rapidly replacing reusable packaging for multiple applications, the market for automotive parts packaging is expected to encounter with steady growth prospects over the forecast period. Adoption of flexible packaging is rising at a high pace compared to rigid packaging, which is another strong factor impacting the growth of automotive parts packaging market.
Corrugated Packaging to Take over Others
On the basis of product type, the global automotive parts packaging market is segmented into pallets, crates, bulk containers & cases, bag & pouches, folding cartons, corrugated products, trays and protective packaging. In terms of volume, protective packaging is estimated to be the largest segment while in terms of value, bulk containers & cases is estimated to account for the largest global market share. Other than these, crates and corrugated packaging products account for significantly high market share. Due to consumer preference for eco-friendly packaging and high cost of bio-degradable plastic packaging products, corrugated packaging products are widely adopted in the automotive sector and further expected to rise at a high pace. Flexible packaging, specifically bags & pouches segment is projected to grow at the fastest pace among all the packaging products due to large number of small sized automotive components required to be packaged in lightweight and durable packaging.
Disposable Packaging Continues to Gain Higher Traction
On the basis of packaging type, the automotive parts packaging market is segmented into reusable packaging and disposable packaging. Disposable packaging segment is estimated to account for a larger market compared to reusable packaging, and is further projected to expand at a higher pace as that of reusable packaging segment. Disposable segment is majorly driven by the savings made by the consumer on the transportation of empty packaging which is required for reusable packaging. Developing production technology has enabled the manufacturing of strong and cost effective disposable packaging for one time use only.
Electrical Components to Witness Highest Growth through to 2027
On the basis of component type, the global automotive parts packaging market is segmented into battery, cooling systems, underbody components, automotive filters, engine components, lighting components, and electric components. Lighting components segment is likely to continue dominance, followed by underbody components segment. Automotive filters and electrical components constitute the next key segments based on component type; however, the report highlights the highest growth prospects for electrical components.
Creased Packaging Products to Lead with Highest Market Share
Boxes and creased packaging items represent essentially high market share. Because of shopper inclination for eco-accommodating packaging and staggering expense of bio-degradable plastic packaging items, creased packaging items are generally embraced in the automotive part and further expected to ascend at a high pace. global pioneers of packaging industry has chance to enter in the China automotive industry and surge with the tremendous scope made with the assistance of exceptionally advanced packaging solutions.
With the rises in demand for after sales components and automotives market all over the world, ceaseless innovative work in the packaging sector has fueled the usage of packaging in automobile industry. For example, Sealed Air Corporation propelled Opti NX recoil films in 2016 which have improved tear obstruction properties and empowers the utilization of shrink films on unpredictably shaped items. Innovative improvement in production technique has prompted the adequate accessibility of disposable packaging items. These packaging in automotive segment is boosted by the adoption of practical advancement by various organizations as one of the exceptionally powerful marketing system. These drivers have propelled the growth in global automotive parts packaging globally.
Regulatory Barriers to Hinder Market Growth
As far as volume, protective packaging is foreseen to account for more than 33% of the global automotive parts packaging market. Large number of protective packaging is consolidated because of high inclusion of delicate electronic and electrical parts required in vehicles. Since, it is for one-time use, vast volume of waste is produced because of protecting packaging. In addition, the manufacturing expense from non-biodegradable plastics is much lower when contrasted with that of biodegradable materials, prompting vast volume of non-biodegradable waste produced all over the world. Corrugated packaging items are high in prerequisite because of high quality, enormous popularity, light weight, and biodegradable nature. Then again, a few regulatory and political barriers have influenced the exchange of pulp for making of corrugated packaging items. These components have influenced the global market for automotive parts packaging.
The unwanted investments made on the transportation of packaging has fueled the demand in automotive parts packaging market
Some of the key players operating in the global automotive parts packaging market include Sealed Air Corporation, Mondi Group Plc, DS Smith Plc, Sonoco Products Company, Smurfit Kappa Group, Deufol SE, Encase Ltd., The Nefab Group, Primex Design & Fabrication Corporation, Sunbelt Paper & Packaging Inc., Loscam Australia Pty Ltd., CMTP Packaging Pty Ltd, JIT Packaging Inc., Pratt Industries, Inc., Signode India Ltd., Pacific Packaging Products, Inc., Monoflo International, Inc., Victory Packaging L.P., Knauf Industries, and Schoeller Allibert Services B.V.
The Automotive Parts Packaging market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Automotive Parts Packaging market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Automotive Parts Packaging market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Automotive Parts Packaging market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Automotive Parts Packaging market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Automotive Parts Packaging capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Automotive Parts Packaging by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Automotive Parts Packaging market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Automotive Parts Packaging market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Automotive Parts Packaging market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Automotive Parts Packaging industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Automotive Parts Packaging market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Automotive Parts Packaging market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Automotive Parts Packaging market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Automotive Parts Packaging market. These factors have benefited the growth of the global market for Automotive Parts Packaging. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Automotive Parts Packaging. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Automotive Parts Packaging are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are: