According to our new research study on “automotive parts packaging market to 2027 – Global analysis and forecast by product type (pallets, cases, cartons, bags and pouches, trays and others); Type of packaging (reusable and disposable); and components (battery, cooling systems, lighting components, engine components, electrical components and others). Automotive Parts Packaging Market was valued at US$2,182.6 Million in 2018 and is projected to reach US$3,124.9 Million by 2027; it is expected to grow at a CAGR of 4.1% from 2017 to 2027.
The global automotive parts packaging market is witnessing intense growth with respect to investments, regulations, green market initiatives and implementation of cost-effective transportation solutions that are driving overall cost reductions for automotive OEMs . Companies operating in automotive parts packaging are looking for integration with lean and just-in-time manufacturing supply chain management methodologies creating higher values for their customers. Various innovations and investigations are being carried out on the use of eco-friendly materials as raw materials for packaging auto parts whose deployment for the future in the current scenario and is expected to increase in the coming years.
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Companies profiled in this report include: 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 and Sonoco Products Company
The automotive parts packaging market consists of a handful of well-established players across the globe, who are investing huge sums in order to provide the most advanced service to customers. Additionally, there are many important players in the automotive parts packaging ecosystem. Automotive parts packaging customers include a wide variety across the automotive value chain, including automotive OEMs. Strategic partnerships between technology vendors and parts manufacturers, technology vendors and automotive OEMs are expected to deliver huge pushes in the automotive parts packaging market over the forecast period. Significant market initiatives have been taken by some of the leading companies to generate substantial revenue and expand their customer base globally. For example, recently Smurfit Kappa opened a new factory in Tijuana, Mexico.
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Increase in demand for aftermarket auto parts
The aftermarket or replacement plays an important role in the automotive parts packaging market. With the growing awareness of preventative maintenance as well as scheduled vehicle maintenance, today’s consumers are focused on maximizing the life of their existing vehicles. This has significantly supported the growth in demand for aftermarket parts and services globally and has generated new revenue opportunities for a large number of players operating in the automotive aftermarket industry. One of the important trends that is gaining ground is the dynamics of e-commerce or e-tailing. Companies are now offering auto parts online, attracting several customers all over the world. Another trend in the aftermarket is DIY products, which further help customers buy products and install them in their vehicles themselves. However, the main demand for spare parts comes from automotive service providers.
Automotive Parts Packaging Market Segmentation:
By product type
Bags and pouches
By type of packaging
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The Insight Partners is an industry unique research provider of actionable intelligence. We help our clients find solutions to their research needs through our syndicated research and advisory services. We specialize in industries such as Semiconductors and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Health IT, Manufacturing and Construction, Medical Devices , technology, media and telecommunications, chemicals and materials.
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