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(USGovernment-News.Com, April 03, 2019 ) The aftermarket or replacement market plays an important role in automotive parts packaging market. With the increasing awareness of preventive maintenance as well as scheduled servicing of vehicles, consumers today are focusing in maximizing the lifespan value of their existing vehicles. This has significantly bolster the growth of aftermarket parts and services demand globally and has generated new revenue opportunities for an extensive number of players operating in the automotive aftermarket industry. Moreover, increasing spending capacity of people to pay for comfort and luxury is propelling the demand for head-up displays, better audio and video system, lights, comfortable seats, and decorative interiors and exteriors among others.
The global automotive parts packaging market accounted to US$ 2.18 Bn in 2018 and is expected to grow at a CAGR of 4.1% during the forecast period 2019 - 2027, to account to US$ 3.12 Bn by 2027.
The automakers globally are observing substantial demand for advanced safety related technologies in their vehicles. This has led the automobile manufacturers to continuously focus on innovating, designing and developing autonomous cars which have already attracted a fair percentage of customers in major automotive manufacturing countries. Pertaining to the consumers' demand and attraction toward smart and fully-autonomous cars, more advanced components are expected to become an integral part of the innovations in the automotive industry in the coming years.
Major Key Players:-
CMTP Packaging Pty Ltd
DS Smith Plc.
Encase Ltd.
JIT Packaging
Nefab group
Pacific Packaging Products Inc.
Pratt Industries Inc.
Sealed Air Corporation
Smurfit Kappa Group
Sonoco Products Company
The global automotive parts packaging market by product type is segmented into Pallets, Crates, Cartons, Bags & Pouches, Trays, and Others. Each type has their own pros and cons and the supplier of automotive parts has to select the product type depending on the experience, order’s content, volume and shape, and regulations so that the shipped product or part reach the final destination in a pristine condition. The parts in automotive industry varies greatly in size and composition.
An off-the-shelf report on Automotive Parts Packaging Market which has been compiled after an in-depth analysis of the market trends prevailing across five geographies (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). Various segments of the market such as type/components/ application/industry verticals/ end-users are analyzed with robust research methodology which includes three step process starting with extensive secondary research to gather data from company profiles, global/regional associations, trade journals, technical white papers, paid databases etc. followed by primary research (interviews) with industry experts/KOLs to gain their insights and views on current scenarios and future scope of the market as well as validating the secondary information, further internal statistical model is used to estimate the market size and forecasts till 2027.
Automotive Parts Packaging Market report is a combination of qualitative as well as quantitative analysis which can be broken down into 40% and 60% respectively. Market estimation and forecasts are presented in the report for the overall global market from 2017 - 2027, considering 2017 as the base year and 2018 - 2027 forecast period. Global estimation is further broken down by segments and geographies such as North America, Europe, Asia-Pacific, Middle East & Africa and South America covering major 16 countries across the mentioned regions. The qualitative contents for geographical analysis will cover market trends in each region and country which includes highlights of the key players operating in the respective region/country, PEST analysis of each region which includes political, economic, social and technological factors influencing the growth of the market.
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