Global automotive timing coverage Revenue is estimated at $18.8 billion in 2022 according to the latest insights from Persistence Market Research, with stable long-term market forecasts. The report estimates that the market will grow at a CAGR of 4.2% from 2022 to 2032. During the forecast period, it is predicted that rising end-user real estate income and increased demand for vehicles around the world would boost the demand for motor vehicle tax time covers.

Manufacturers use lightweight materials to meet vehicle manufacturers’ demands for lightweight and durable covers. This takes account of the increasing trend towards vehicle customization. Lightweight materials such as high-strength steel and polycarbonate are now the most important raw materials for the manufacture of car accessories.

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Important insights from the market study

• By vehicle type, the passenger car segment is expected to witness demand growth of CAGR 3.9% by volume through 2032.
• Under Material Type, the Metals & Alloys segment is expected to grow at a CAGR of 4.2%.
• By region, East Asia is expected to witness significant growth in the Automotive Timing Enclosures market. China automotive timing case sales are expected to grow at CAGR 3.8% in volume terms.
• By distribution channel, the OEM segment is expected to hold a prominent volume share of 65.6% in 2022.

“The market for automotive timing covers is being fueled by rising disposable income and the shift in consumer preferences toward technologically advanced goods and devices. In response to the need to develop fuel efficient and lightweight vehicles, manufacturers are developing lightweight materials for use in the manufacture of automotive timing cases.” says an analyst from Persistence Market Research.

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