The Automotive Parts Packaging Market was valued at US$ 2,182.6 Mn in 2018 and is projected to reach US$ 3,124.9 Mn by 2027; it is expected to grow at a CAGR of 4.1% from 2017 to 2027.
The global automotive parts packaging market is experiencing an intense growth with regards to the investments, regulations, green market initiatives, and implementation of cost-efficient transportation solutions that lead to overall cost reductions to the automotive OEMs. Companies operating in the automotive parts packaging arena are looking for integration with lean and just-in-time manufacturing supply chain management methodologies creating higher values to their customers. Various innovations and investigations are being carried out on using eco-friendly materials as raw materials for automotive parts packaging whose deployment for future in the current scenario and is anticipated to rise in the coming years.
A wholly integrated vehicle comprises of a large number of small, medium size and large components that are assembled together at the automobile OEM. The assembled parts are often transported over a long distance, and have to travel through different means of transport. Packaging solutions ensure that these components reach to the end-user in a complete pristine condition. A plethora of components together constitute the automotive parts including engines, vehicle interiors, decorative items, grillers, spoilers, and engine components etc. Automotive parts packaging solutions maximize the use of packaging space, reduce packaging wastes and thereby create lesser stress on the environment.
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The market for automotive parts packaging consists of a handful of well-established players across the globe, which invest huge amounts in order to deliver the most advanced service to the customers. Also, there are many important stakeholders in the automotive parts packaging ecosystem. The customers for automotive parts packaging include a wide variety across the entire automotive value chain that also includes the vehicle OEMs. Strategic partnerships between technology providers and part manufacturers, technology providers and automotive OEMs are anticipated to enable huge surges in the market for automotive parts packaging during the forecast period. Significant market initiatives have been taken by some of the leading companies to gain substantial revenue and expand their customer base globally. For instance, recently, Smurfit Kappa has opened a new plant in Tijuana, Mexico.
The escalation in the production of vehicles worldwide is anticipated to have high impact during short and mid-term, however the impact is projected to slightly reduce during long-term. Also, increasing demand for aftermarket automotive parts is anticipated to have medium impact in the short-term. Although, this will have high impact in mid and long-tern owing to rising awareness among people regarding safety systems as well as their rising spending capability to afford luxury automotive parts. Moreover, absence of global regulation for automotive parts packaging is expected to have medium impact in the short and mid-term and the impact is anticipated to decrease with time.
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GLOBAL AUTOMOTIVE PARTS PACKAGING – MARKET SEGMENTATION
By Product Type
· Pallets
· Crates
· Cartons
· Bags & Pouches
· Trays
· Others
By Packaging Type
• Reusable
• Disposable
By Component
• Battery
• Cooling Systems
• Lighting Component
• Engine Component
• Electricals
• Others
By Geography
· North America
o U.S.
o Canada
o Mexico
· Europe
o France
o Germany
o Italy
o Russia
o UK
o Rest of Europe
· Asia Pacific (APAC)
o South Korea
o India
o China
o Japan
o Australia
o Rest of APAC
· Middle East & Africa (MEA)
o South Africa
o Saudi Arabia
o UAE
o Rest of MEA
· South America (SAM)
o Brazil
o Rest of MEA
Company Profiles
· 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
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