The global automotive gasket and seal market is likely to witness steady growth over the forecast period 2017-2022, on account of a slew of broader trends in the automotive industry. Higher emphasis on cutting emissions, increasing fuel efficiency, and reducing the maintenance spending on vehicles is likely to create sustained growth opportunities for gasket and seal manufacturers. The global automotive gasket and seal market is likely to grow at nearly 5.8% CAGR during the forecast period 2017-2022 and reach nearly US$ 84 Bn by the end of 2022. These insights are according to a research report titled “Automotive Gasket and Seal Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2022” added to the vast database of Market Research Reports Search Engine (MRRSE).
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The report has segmented the global automotive gasket and seal market on the basis of product type, vehicle type, sales channel, material type, and region. The detailed segment-wise analysis helps readers in understanding how growth is shaping up across different categories. The region-wise analysis and forecast can help existing and new market opportunities to know the untapped opportunities emerging in key markets.
By product type, the report has further sub-segmented the market into metallic gasket and non-metallic gasket. Among these, preference for metallic gaskets remains quite high, on account of their cost effectiveness and durability. This segment accounts for nearly 70% revenue share of the market, and is likely to remain the dominant product type during the forecast period.
By vehicle type, the market has been segmented into compact, mid-sized, premium, luxury, commercial, and heavy. OEM and aftermarket are the key sales channels in the global automotive gasket and seal market. On the basis of material type, market forecast and analysis has been offered on metal, fiber, rubber, and silicon.
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According to the report, Asia Pacific excluding Japan (APEJ) is likely to remain one of the most lucrative markets for automotive gasket and seal globally. The market in APEJ is being driven by steady sales of passenger vehicles in many emerging economies. Years of economic development has led to the emergence of a middle class that is pushing up sales of passenger vehicles. This consumer segment is looking for high value offerings at competitive pricing, owing to which OEMs have been forced to incorporate latest advancement in component technology. As automotive gaskets and seals help in maintaining the vehicle over the long term, their demand among manufacturers in APEJ is likely to witness strong demand.
Some of the leading players profiled in the report include Dana Limited, Federal-Mogul Corporation, Smiths Group plc, Victor Gaskets India LTD, Datwyler, Elringklinger AG, Trelleborg AB, SKF AB, Freudenberg Sealing Technologies GmbH & Co, and KG and Flowserve Corporation.
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