Automotive gaskets and seals are used to fill the gap between two components to stop any leakage during the compression stage. The speedy technological advancements in the automotive sector, and the increasing need for fuel efficiency in the vehicle, the market for gaskets and seals is expected to grow significantly. Gaskets and seals have improved the lifespan of the automotive components, thereby it reduces the maintenance cost and encourages the growth of the automotive gasket and seal market.
MARKET SCOPE
The "Global Automotive gasket and seal Market Analysis to 2028" is a specialized and in-depth study of the automotive and transportation industry with a special focus on the global market trend analysis. The report aims to provide an overview of the automotive gasket and seal market with detailed market segmentation by product type, application, vehicle type, and geography. The report provides key statistics on the market status of the leading automotive gasket and seal market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on product type, the global automotive gasket and seal market is segmented into gasket type and seal type.
- On the basis of application, the market is segmented into gasket application and seal application.
- Based on vehicle type, the global automotive gasket and seal market is segmented into passenger cars, light commercial vehicles and heavy commercial vehicles.
MARKET DYNAMICS
Drivers:
- The rise in vehicle production across the world and especially in developing nations is primarily driving the automotive gasket and seal market.
- Additionally, regulatory norms by the government related to carbon emission is driving the market as well.
- Along with, increased adoption of the electric vehicle is contributing growth to the automotive gasket and seal market.
- Also, the downsizing and lightweight component assemblies in the vehicles are providing opportunities for the automotive gasket and seal market..
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The automotive gasket and seal market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the automotive gasket and seal market in these regions.
IMPACT OF COVID-19ON AUTOMOTIVE GASKET AND SEAL MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the automotive gasket and seal market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from automotive gasket and seal market are anticipated to lucrative growth opportunities in the future with the rising demand for automotive gasket and seal in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the automotive gasket and seal market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- AB SKF
- Dana Incorporated
- Datwyler Holding Inc
- Elringklinger AG
- Flowserve Corporation
- Freudenberg Sealing Technologies GmbH and Co. Kg
- Garlock (Enpro Industries, Inc)
- Keith Payne
- Tenneco Inc.
- Trelleborg AB