Stratview Research has published a new report on the Automotive Seals Market, segmented by Vehicle Type (Passenger Car, Light Commercial Vehicle, and Medium- & Heavy-Duty Commercial Vehicle), by Application Type (Engine System, Transmission System, Brake & Suspension System, Body Structure, and Others), by Material Type (Elastomer Seals, Thermoplastic Seals, Metal Seals), by Product Type (O-rings, Gaskets, Profile Seals, Lip Seals, and Others), by Motion Type (Static Seals, Linear Seals, and Rotary Seals). This report provides critical insights on the market dynamics and enables strategic decision making for the existing and new market players.
Market Highlights
The year 2018 and 2019 were challenging for the automotive industry stakeholders in the wake of the saturating demand in the developing economies. The pandemic further devastated the entire supply chain including the demand for automobiles. As a result of that, the automotive seals market recorded a massive decline of -17% in 2020, crushing the market to well below its 2015-market value. However, the long-term outlook still seems resilient with good growth opportunities across regions. Overall, the automotive seals market is estimated to grow at a healthy CAGR of 4.2% over the next five years to reach US$ 18.6 Billion in 2026.
Covid Impact
Covid-19 has impacted the market dynamics, competition, and global supply chain of every possible market one can think of. The revenues for many, have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operations and strategy will sustain and beat the competition.
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Segmentation –
This report studies the Automotive Seals Market and has segmented the market in a few ways, keeping in mind the concentration of all the stakeholders across the value chain. Following are the ways in which the market has been segmented in the report:
By Vehicle Type:
Based on the vehicle type, the automotive seals market is segmented as Passenger car, Light Commercial Vehicle (LCV), Medium- & Heavy-Duty Commercial Vehicle (MHCV). Despite taking a nosedive in 2020, Passenger Car is expected to remain the largest as well as the fastest-growing vehicle type in the market during the forecast period. Huge passenger car production coupled with the growing use of seals remain the key growth propellor of the market in the long run.
By Material Type:
Based on the material type, the market is segmented as Elastomer Seals, Thermoplastic Seals, and Metal Seals. Elastomers are expected to remain the most dominant material type in the market during the forecast period. Elastomers are a desirable material for high-performance applications owing to their good strength, durability, and
effectiveness. Owing to their massive array of advantages, elastomers are gaining traction in the automotive industry.
By Application Type:
Based on the application type, the market is segmented as Engine System, Transmission System, Brake & Suspension System, Body Structure, and Others. Body Structure is expected to remain the largest segment of the market in the coming five years. The transmission System is the fastest-growing segment of the market during the forecast period. These Seals are used in a wide spectrum of engine applications and are designed to withstand high temperatures.
By Region Type:
In terms of regions, the market is segmented as North America (The USA, Canada, and Mexico), Europe (Germany, France, The UK, Russia, and Rest of Europe), Asia-Pacific (India, China, Japan, and Rest of Asia-Pacific), Rest of the World (Brazil, Argentina, and Others). Asia-Pacific is expected to remain the largest market for automotive seals during the forecast period. Most of the seals suppliers have their presence in the region to address the emergent needs of OEMs and to be the partner for their upcoming automotive programs or upcoming fuel-efficient vehicles of existing automotive programs. Furthermore, the huge production base of automobiles in China, Japan, India, Korea, and Thailand assures a gargantuan demand for seals in the region.
Key Players:
- Dana Incorporated
- Toyoda Gosei Co., Ltd.
- Cooper Standard Automotive Inc.
- Meccanotecnica Umbra S.p.A.
- Hutchinson SA
- AB SKF
- Federal-Mogul Corporation
- Flowserve Corporation
- Smiths Group PLC
- Trelleborg AB
- Elringklinger AG
- Freudenberg Sealing Technologies GmbH & Co. KG
- Datwyler Holding
About Stratview Research-
Stratview Research is a global market intelligence firm having a strong team of industry veterans and research analysts. Stratview Research has been serving multiple clients across a wide array of industries. Our services cover a broad spectrum of industries including but not limited to Energy Chemicals, Advanced Materials, Automotive, and Aerospace. At Stratview, we believe in building long term relations with our clients.
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