DUBLIN, July 6, 2020 /PRNewswire/ -- The "Automotive Gaskets and Seals Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The Global Automotive Gaskets and Seals Market is expected to register a CAGR of over 5.5 % during the forecast period.
The growth of the market studied depends on various factors, such as adoption rate of electric vehicles in developing nations, increasing electric vehicle infrastructure trends in developed nations, variation in raw material prices, etc. Additionally, impact of tariff rates among the United States, Europe, and China for automotive components may also contribute to the demand for gaskets and seals.
Manufacturers of gaskets and seals have been conducting R&D activities, to develop special types of gaskets and seals, for the expected rise in demand for IC engine vehicles and battery electric vehicles. European firms, like Freudenberg, have already patented few automotive seals in 2017 to be ahead in the competition.
Some of the manufacturers in the market include Freudenberg, Dana Incorporated, Federal Mogul, SKF GmbH, ElringKlinger AG, etc. As China dominates the electric vehicle sales, local manufacturers, such as Kunshan Sanwa Engine Parts Industry Co. Ltd have been catering the necessary cylinder head and exhaust manifold gaskets to majority of the vehicles sold in the country, since 2016.
Key Market Trends
Growing Demand for Electric Vehicles to Drive the Market
With the rising environmental and health concerns among both the governments and consumers, the demand for, and usage of, electric vehicles is gradually increasing, especially in countries, such as China, the United States, the United Kingdom, Nordic countries, and others.
The world is quickly adopting to electric vehicles (EV) and in the next couple of decades, EVs are expected to be more mainstream than internal combustion vehicles. More automotive manufacturers are now devoting a major chunk of their investments toward the R&D of electric vehicles.
Countries, such as China and the United States, are continually taking steps in the form of rebates and tax incentives, for increasing the demand for, and adoption of, electric vehicles.
The demand for transmission, steering, and battery-based automotive seals, is catered by domestic companies operating in the country, such as Kunshan Sanwa, Guangzhou Leakless Automobile Parts Co. Ltd, etc.
Asia-Pacific and North America to Dominate the Market
Over the last decade, the Asia-Pacific automotive industry has undergone the most significant transformation in its history. The market is recording an increasing share of global vehicle sales. Another major factor driving the growth of the automotive gasket and seals market is increased production and sales of electric vehicles in the region. It is the only major market expected to see continued strong growth in, both, the medium and long-term.
North America and Europe are also expected to hold a significant share in the global automotive gasket and seal market. The automotive commercial vehicle demand is growing in the United States, in 2018, the demand for commercial vehicles in the country has increased by 8.08%, which is a key factor for propelling the demand of gaskets and seals market in the country.
Competitive Landscape
The Automotive Gaskets and Seal market is a highly fragmented market. Some of the major players in the market are Freudenberg Group, SKF Group, Dana Incorporated, Elringklinger AG, Jayem Auto Industries, Kunshan Sanwa Engine Parts Industry, amongst others.
Key Topics Covered
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porters 5 Force Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Type
5.1.1 Gaskets
5.1.2 Seals
5.2 Gasket Application Type
5.2.1 Cylinder Head
5.2.2 Exhaust Manifold
5.2.3 Other Application Types (Valve Heads, Fuel Pumps, Oil Tank, etc., )
5.3 Seal Application Type
5.3.1 Engine
5.3.2 Transmission
5.3.3 Steering
5.3.4 Battery
5.4 Vehicle Type
5.4.1 Passenger Cars
5.4.2 Commercial Vehicles
5.5 Geography
5.5.1 North America
5.5.2 Europe
5.5.3 Asia-Pacific
5.5.4 Latin America
5.5.5 Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Freudenberg Group
6.2.2 SKF Group
6.2.3 Dana Incorporated
6.2.4 Elringklinger AG
6.2.5 Jayem Auto Industries Pvt. Ltd.
6.2.6 Kunshan Sanwa Engine Parts Industry Co. Ltd.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/ovd2eh
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