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(Transportation-News.com, April 12, 2019 ) The aftermarket or replacement market plays an important role in automotive parts packaging market. With the increasing awareness of preventive maintenance as well as scheduled servicing of vehicles, consumers today are focusing in maximizing the lifespan value of their existing vehicles. This has significantly bolster the growth of aftermarket parts and services demand globally and has generated new revenue opportunities for an extensive number of players operating in the automotive aftermarket industry. Moreover, increasing spending capacity of people to pay for comfort and luxury is propelling the demand for head-up displays, better audio and video system, lights, comfortable seats, and decorative interiors and exteriors among others.
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The major companies operating in the global market
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
The global automotive parts packaging market by product type is segmented into Pallets, Crates, Cartons, Bags & Pouches, Trays, and Others. Each type has their own pros and cons and the supplier of automotive parts has to select the product type depending on the experience, order’s content, volume and shape, and regulations so that the shipped product or part reach the final destination in a pristine condition. The parts in automotive industry varies greatly in size and composition.
The automakers globally are observing substantial demand for advanced safety related technologies in their vehicles. This has led the automobile manufacturers to continuously focus on innovating, designing and developing autonomous cars which have already attracted a fair percentage of customers in major automotive manufacturing countries. Pertaining to the consumers' demand and attraction toward smart and fully-autonomous cars, more advanced components are expected to become an integral part of the innovations in the automotive industry in the coming years. This factor is expected to trigger the growth of the automotive electronic component market in the coming years. The substantial thrust in autonomous driving is foreseen to further accentuate the demand for advanced electronic systems in a vehicle including, electric power steering, anti-lock brakes, engine control, and electronic throttle control. This would increase the market for electrical and electronic component packaging.
The automotive parts packaging market by packaging type is further segmented into Reusable and Disposable. The automotive packaging process is complex and selecting an appropriate packaging solution to balance inventory and optimize cost is essential. The returnable packaging materials offer several benefits such as reduced carbon footprint & packaging waste, rigid packaging material resulting in enhanced protection of parts from damage, moisture, as well as other contaminants throughout the shipment process, and better inventory control due to tracking of package. On the other hand, Disposable packaging is traditionally the main choice for shipping automotive parts on longer routes owing to the costs and logistics barriers involved in shipping returnable containers back.
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The Insight Partners
Sameer Joshi
+1-646-491-9876
sam@theinsightpartners.com
Source: EmailWire.Com 
Source: EmailWire.com
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