Automotive Parts Packaging Market Analysis | Size, Share Report 2022-2027
Market Overview 2022-2027:
According to the global automotive parts packaging market by IMARC Group, finds that the market size reached US$ 5.99 Billion in 2021. Looking forward, IMARC Group expects the market is anticipated to reach a value of US$ 7.74 Billion by 2027, expanding at a CAGR of 4.27% during 2022-2027.
Industry Definition and Application:
Automotive parts packaging aids in protecting valuable vehicle parts from scuffs, dents, vibrations, dings, damages, etc., during the storage and shipping processes. It generally consists of barrier materials, tubing, harnesses, straps, edge protectors, and corrugated boxing solutions. The various components used in automotive parts packaging are batteries, cooling systems, underbody components, automotive filters, engines, lighting, electrical arts, etc. As such, they find extensive usage across the automotive industry.
Market Trends:
The escalating integration of telematics, in-vehicle infotainment systems, and advanced driver assistance systems (ADAS) in automobiles is primarily driving the automotive parts packaging market. Besides this, the launch of favorable policies by government bodies to encourage the adoption of electric vehicles (EVs) as they emit fewer greenhouse gases (GHGs) and air pollutants is further augmenting the market growth. Apart from this, automobile vehicles comprise of several small, medium, and large-sized components that are assembled by the automotive original equipment manufacturers (OEMs).
In line with this, the inflating production of heavy components, such as cooling systems, is also catalyzing the global market. Moreover, owing to the elevating environmental awareness among consumers, bio-based packaging materials are being utilized, which is acting as another significant growth-inducing factor. In addition to this, the expanding exports of automotive parts across countries are also positively influencing the product demand. Furthermore, continuous technological advancements in supply chain management are anticipated to bolster the automotive parts packaging market over the forecasted period.
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| Automotive Parts Packaging Market Report Scope | |
| Report Coverage | Details |
| Market size value in 2021 | US$ 5.99 Billion |
| Market forecast in 2027 | US$ 7.74 Billion |
| Growth Rate | CAGR of 4.270% from 2022 to 2027 |
| Base year for estimation | 2021 |
| Historical data | 2016-2021 |
| Forecast period | 2022-2027 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Component Type, Product Type, Packaging Type and Region |
Report Segmentation:
The report has been segmented the market into following categories:
Breakup by Component Type:
- Battery
- Cooling System
- Underbody Components
- Automotive Filter
- Engine Components
- Lighting Components
- Electrical Components
Breakup by Product Type:
- Pallets
- Crates
- Bulk Containers and Cases
- Bags and Pouches
- Folding Cartons
- Corrugated Products
- Trays
- Protective Packaging
Breakup by Packaging Type:
- Disposable
- Reusable
Breakup by Geography:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- DS Smith plc
- Knauf Industries
- Sealed Air Corporation
- Signode India Ltd.
- Smurfit Kappa Group plc
- Sonoco Products Company
- Mondi plc
- Nefab AB
- Primex Plastics Corporation (ICC Industries Inc.)
- Schoeller Allibert Services B.V.
- Sunbelt Paper & Packaging Inc.
- WestRock Company.
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