Automotive Profile Seals Market Report
Automotive Profile Seals Market is Segmented by Vehicle Type (Passenger Car, Light Commercial Vehicle, and Medium- & Heavy-Duty Commercial Vehicle), by Material Type (Elastomer Seals and Thermoplastic Seals), by Motion Type (Static Seals and Linear Seals), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
Automotive Profile Seals Market is Segmented by Vehicle Type (Passenger Car, Light Commercial Vehicle, and Medium- & Heavy-Duty Commercial Vehicle), by Material Type (Elastomer Seals and Thermoplastic Seals), by Motion Type ...
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
Automotive profile seals are used around the doors and windows of automobiles to keep the dust and water out of the vehicle. These seals need to be unaffected by climatic conditions and varying temperatures. The automotive industry has been experiencing the most disruptive journey in the past decades with the key emerging areas are autonomous, emission-free mobility, fuel efficiency, sharing, and connected vehicles. Almost all the major automakers are putting efforts into the development of vehicles addressing most of these trends.
The automotive production declined in 2018 as well as in 2019 and was expecting to start rebounding from 2020 onwards. However, the sudden outburst of the pandemic trashed the market hope. As a result of that, there was an enormous decline in the production of automobiles across regions. The grave impact of this was registered across the supply chain including the level of components.
Automotive Profile seals, a sizeable market, could not escape from such trends and witnessed a colossal decline (-15%+ in 2020) amid the pandemic, quite aligned with the decline in automobile production. However, the industry is gradually rebounding in the year 2021 with the ramp-up in consumer confidence. Furthermore, an incessant shift from traditional ICE vehicles to EV vehicles is likely to give an impetus to the demand for profile seals. Overall, the automotive profile seals market is likely to rebound at a promising CAGR of 4% in the long run to reach US$ 7.1 Billion in 2026.
Based on the vehicle type, the automotive profile seals market is segmented as passenger car, light commercial vehicle (LCV), medium- & heavy-duty commercial vehicle (MHCV). With the lowest decline in the demand for profile seals by the pandemic, passenger car is expected to remain the largest and the fastest-growing vehicle type in the market during the forecast period owing to the increasing demand for electric vehicles across regions coupled with an expected recovery in the production of ICE vehicles. In addition to that, increasing investments by the premium and luxury car manufacturers to manufacture new products with enhanced features, and growing demand for passenger cars in the developing economies is further expected to drive the market growth during the forecast period.
Based on the material type, the market is segmented as elastomer seals and thermoplastic seals. Elastomer is expected to remain the dominant as well as the faster-growing material type in the market during the forecast period. Elastomer is not only the dominant material in profile seals but also in the overall automotive seals market. Elastomers are gaining traction in the automotive industry due to their unique elasticity and flexibility.
In terms of regions, Asia-Pacific is expected to remain the largest market for automotive profile seals during the forecast period. This region has a presence of a large number of major OEMs, such as Toyota and Hyundai, which make the region a growth engine of the automotive industry. Most of the automotive profile seals suppliers have their presence in the region to address the emergent needs of OEMs and to be the partner for their fuel-efficient version of existing automotive programs.
North America and Europe are also likely to create sizeable opportunities in the coming five years, driven by an expected rebound in vehicle production coupled with a paradigm shift from ICE to electric vehicles.
The following are the key players in the automotive profile seals market. Most of the major players are providing complete profile systems including profile seals.
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s automotive profile seals market realities and future market possibilities for the forecast period of 2021 to 2026. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
The automotive profile seals market [Da1] is segmented into the following categories.
Automotive Profile Seals Market, by Vehicle Type
Automotive Profile Seals Market, by Material Type
Automotive Profile Seals Market, by Motion Type
Automotive Profile Seals Market, by Region
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The automotive profile seals market is estimated to grow at a CAGR of 4.0% by 2026.
Toyoda Gosei Co., Ltd., Cooper Standard Automotive Inc., Hutchinson SA, Standard Profil Group, Henniges Automotive, Saargummi, Shida Seal Group Co., Ltd., Letu Automotive, and Koda Seals are the leading players in the automotive profile seals market.
Asia Pacific is estimated to remain dominant in the automotive profile seals market in the foreseen future.
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