Worldwide automobile sales were more than 90Mn at the start of 2017 and are expected to reach 1Bn by the end of the year 2035.
Emerging economies such as India, China, and Mexico are witnessing robust growth rates of more than 17%. The recent trend shows that automobile production is shifting to developing economies. Emerging economies started to serve the global automotive market due to the rapidly growing regional consumer base, cheap labor, and growing cost efficiency in manufacturing. In addition, a component manufactured in one corner of the globe needs to be delivered across the globe. In turn, there is a growing need for a more efficient and reliable automotive parts packaging industry to protect vehicles or vehicle parts while shipping and storage. So there come concepts called corrosion packaging, expandable packaging, ESD packaging, and returnable packaging. There is a need to cut down on ever-increasing automotive packaging costs. Automotive parts packaging includes corrugated boxes, metal cases, wooden crates, pallets, foam, folding cartons, trays, steel racks, etc.
The growing worldwide automotive industry at a 4% growth rate is the main driver of the automotive parts packaging industry market. Rapidly growing infrastructure developments in emerging economies are the other driver of the automotive parts packaging industry and automotive components. Furthermore, component safety, ease in handling, transportation, and storage of automotive and automotive components are anticipated to be the major driving factor for the growing demand of the Automotive parts packaging industry. Rapidly growing per capita disposable income levels in emerging economies are driving automobile sales in China, Mexico, and India, which in turn drives the growth of the Automotive parts packaging industry.
Increasing and volatile gasoline, petrol, and diesel prices are the main restraint for the growth of the Automotive parts packaging industry. Geopolitical crises like Brexit, Brexit, and sanctions on Qatar and Iran are also acting as restraints on the growth of the automotive parts packaging industry. Growing government regulations on emissions of vehicles is the other restraint factor. Environmental protection, global warming concerns, and related activities like the Paris climate accord are restraining the growth of the automotive industry, which in turn slows the growth of the automotive parts packaging industry market. The growing hybrid vehicles market is an opportunity for the growth of the automotive parts packaging industry.
As a professional manufacturer of auto and motorcycle parts, Tecpack provides professional solutions and is committed to warehousing and logistics technology to make auto parts packaging no longer difficult.
Returnable packaging is a recent hot topic in the automotive parts packaging industry. The automotive parts packaging Industry has been segmented on the basis of region into North America, Latin America Eastern Europe, Western Europe, Asia Pacific Excluding Japan (APEJ), Middle East & Africa (MEA), and Japan. Emerging markets in APEJ, MEA, and Latin America are major contributors to the growth of the automotive parts packaging industry. North America represents the highest share of the global automotive parts packaging industry market which is expected to stand at more than 20%. The overall European market is showing sluggish growth.
Worldwide automobile sales were more than 90Mn at the start of 2017 and are expected to reach 1Bn by the end of the year 2035. Emerging economies such as India, China, and Mexico are witnessing robust growth rates of more than 17%. The recent trend shows that automobile production is shifting to developing economies. Emerging economies started to serve the global automotive market due to the rapidly growing regional consumer base, cheap labor, and growing cost efficiency in manufacturing. In addition, a component manufactured in one corner of the globe needs to be delivered across the globe. In turn, there is a growing need for a more efficient and reliable automotive parts packaging industry to protect vehicles or vehicle parts while shipping and storage. So there come concepts called corrosion packaging, expandable packaging, ESD packaging, and returnable packaging. There is a need to cut down on ever-increasing automotive packaging costs. Automotive parts packaging includes corrugated boxes, metal cases, wooden crates, pallets, foam, folding cartons, trays, steel racks, etc.
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