Product Code: RP-ID-10324779 |
Published Date: 21 Oct 2022 |
Region: NA |
Category: Automotive & Transportation |
Report ID: 10324779
Market Overview:
Global Automotive Gasket & Seals Market Size study with COVID-19 Impact, by Product (Gasket (Metallic, Non-Metallic), Seals (O-Ring, Rotary, Mechanical, and more)), by Vehicle Type (Passenger Cars, Commercial Vehicles) and Regional Forecasts 2020-2026
Global Automotive Gasket & Seals Market is valued approximately USD 11,553 million in 2019 and is anticipated to grow with a healthy growth rate of more than 7% over the forecast period 2020-2026. Automotive gaskets and seals are the components which is increasingly used in vehicles to avoid gas and fluid leakage. They fill the gap between the automotive components therefore, ensuring no leakage in vehicles. The seals avoid lubricants from fleeing the bearings. These components also avoid dust and other contaminants from entering the automotive machineries. With the technological developments, gaskets and seals also provide an effective means to get better fuel economy and have reduced the requirement of repair and maintenance, thereby enhancing the average lifespan of automotive components. Thus, this factor is expected to accelerate the demand of automotive gaskets & seals worldwide. Further, rise in adoption of electric and commercial vehicles, along with the growing concern on environmental and health are the few factors responsible for high CAGR of the market over the forecast period. For instance, As per the Edison Electric Institute, the global electric vehicles sales were amounted about 312,000 in Q1 2018, an increase of 58% compared to Q1 2017. Similarly, the number of electric vehicles on the road in the United States, is about 8,90,000 in 2018, up from number of electric vehicles of approximately 6,00,000 in 2017. This, in turn, is expected to accelerate the market growth all over the world. However, the advent of COVID-19 pandemic has a swift and severe impact on every single sector of global industry including automotive sector thus, representing a substantial decline in the production of passenger cars and commercial vehicles. With the reduced production of vehicles, the demand for automotive gaskets and seal also decrease thus, hampering the market growth. Moreover, design and installation issues, along with the fluctuating raw material prices are few other factors limiting the growth of the market over the forecast period of 2020-2026.
The regional analysis of global Automotive Gasket & Seals market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-pacific is the leading/significant region across the world in terms of market share owing to the increasing volume of passenger cars and electric vehicles, along with the presence of stringent policies for vehicle safety in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026.
Major market player included in this report are:
AB SKF
Dana Holding Corporation
Federal-Mogul Holdings Corporation
Freudenberg Sealing Technologies (FST)
Flowserve Corporation
Smith Group PLC
Trelleborg AB
Elringklinger AG
Datwyler Holding Inc.
Victor Gaskets India Limited
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product:
Gasket (Metallic, Non-Metallic)
Seals (O-Ring, Rotary, Mechanical, and more)
By Vehicle Type:
Passenger Cars
Commercial Vehicles
By Region:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 2019
Forecast period – 2020 to 2026
Target Audience of the Global Automotive Gasket & Seals Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
AB SKF
Dana Holding Corporation
Federal-Mogul Holdings Corporation
Freudenberg Sealing Technologies (FST)
Flowserve Corporation
Smith Group PLC
Trelleborg AB
Elringklinger AG
Datwyler Holding Inc.
Victor Gaskets India Limited
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