The automotive parts packaging market in Europe is expected to grow from US$ 698.4 Mn in 2018 to US$ 968.7 Mn by the year 2027 with a CAGR of 3.8% from the year 2019 to 2027.
The increase in vehicle production in Europe and the increase in the sales of aftermarket automotive parts are bolstering the growth of the automotive parts packaging market. Moreover, the growth in the electric vehicle market is anticipated to boost automotive parts packaging market growth in the forecast period. The automobile manufacturers worldwide are experiencing significant demand for vehicles ranging from passenger vehicles, LCV, and HCV. Higher disposable income in the developed countries and increasing purchasing power capacity among the population in developing countries is significantly driving automobile procurement. The constant pressure on automobile manufacturers to deliver a large number of vehicles to meet consumer demand is catalyzing the production statistics of vehicle manufacturing. For instance, as per the Organization Internationale des Constructeurs d'Automobiles (OICA), the total production of a passenger car in Europe at the end of the year 2017 is 19.6 Mn units as compared to 19.1 Mn units in the year 2016. Hence, the increasing production of heavy commercial vehicles and passenger cars is bound to drive the market for automotive parts packaging market. Since the assembly of vehicles and manufacturing of components often takes place in different manufacturing facilities, there is a significant need for proper packaging of these components.
The crates segment is one of the leading product types with the highest market share in Europe automotive parts packaging market. Similar to pallets, even crates can be of different materials including, wood, plastic, and metal, among others. Generally, crates are used for shipping heavy items. Specified crates can be designed for specified products and are often made to be reused. Wooden and plastic crates are preferred material for shipping automotive parts. However, the wooden crate is the most preferred in the shipping industry. They are low-priced and easy to repair. Also, they are made of interchangeable and recyclable material; thus, they can be remade, resold, or repurposed. Plastic crates are considerably expensive in comparison to wooden crates and do require a far more complex process to replace. However, the longer shelf life and easy to reuse factor is bolstering their demand.
The rest of Europe dominated the automotive parts packaging market in 2018 and is anticipated to lead the market across the European region through the forecast period, followed by Germany and France. Moreover, Russia is expected to grow at the highest CAGR in the coming years. The figure given below highlights the revenue share of the Russia in the European automotive parts packaging market in the forecast period:
Exhibit: Russia Automotive parts packaging Market Revenue and Forecasts to 2027 (US$ Mn)
Automotive parts packaging Market - Companies Mentioned
| Report Attribute | Details |
|---|---|
| Market size in 2018 | US$ 698.4 Million |
| Market Size by 2027 | US$ 968.7 Million |
| CAGR (2019 - 2027) | 3.8% |
| Historical Data | 2016-2017 |
| Forecast period | 2019-2027 |
| Segments Covered |
By Product Type
|
| Regions and Countries Covered |
Europe
|
| Market leaders and key company profiles |
|
The Europe Automotive Parts Packaging Market is valued at US$ 698.4 Million in 2018, it is projected to reach US$ 968.7 Million by 2027.
As per our report Europe Automotive Parts Packaging Market, the market size is valued at US$ 698.4 Million in 2018, projecting it to reach US$ 968.7 Million by 2027. This translates to a CAGR of approximately 3.8% during the forecast period.
The Europe Automotive Parts Packaging Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Automotive Parts Packaging Market report:
The Europe Automotive Parts Packaging Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Automotive Parts Packaging Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Automotive Parts Packaging Market value chain can benefit from the information contained in a comprehensive market report.
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