Automotive Gaskets Market Growth Analysis

Market Highlights

The Automotive Gaskets Market is estimated to grow at a healthy CAGR of 5.7% over the next five years to reach US$ 3.1 Billion in 2026.

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What is an automotive gasket?

An automotive gasket is a flat piece of seal that covers the gap between two or more mating surfaces, preventing leakages from or into the joined objects while they are compressed. It is a deformable material that is used to generate a static seal and maintain that seal under varied operating circumstances. The choice of material plays an important role in the market while developing gaskets for specific applications. Metals, graphite, and composites are the materials used to make automotive gaskets. Conformity, high temperature, pressure, chemical resistance, impermeability, and provision of apertures were the key requirements of an automotive gasket. Automotive gaskets are available in a variety of shapes, sizes, and standards.

Market Dynamics

The journey of gaskets in the automotive industry has undergone tremendous evolution with changing market requirements in the industry. From the steam engine period to the development of internal combustion engines, the changing concept and design of automotive engines have enforced automotive gasket manufacturers to develop suitable gaskets which meet current market requirements. Further, the increase in the development of smaller, compact, and powerful engines with features like direct injection and hybrid technology creates an enormous demand for advancements in gaskets’ technology. Apart from engines, the development of thinner and less rigid parts exposed to high temperatures and pressures driving additional demand for gaskets.  

After the colossal decline in the market in 2018 and 2019, the industry was expecting a healthy recovery with growth in automotive production in 2020. The automotive gaskets market saw a decline of -15.9% in 2020. The long-term picture, on the other hand, appears promising, owing to the industry's robust character and solid fundamentals, such as recovery in automotive production, increasing demand for lightweight materials to improve fuel economy governed by stringent fuel emission standards, and increase in the development of autonomous vehicles.

Segment Analysis

Vehicle Trends

The automotive gaskets market is segmented as passenger car, light commercial vehicle, and medium- & heavy-duty commercial vehicle. Passenger car is expected to remain the largest and fastest-growing segment of the market in the coming years. Integration of advanced technologies, such as artificial intelligence, the internet of things, connectivity, and human-machine interface, is likely to create huge changes in the design and ergonomics of the vehicle. This along with the increasing shift towards personal mobility from public mobility is likely to create ample growth in the market in foreseeable future.

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Material Trends

The market is segmented into metallic gaskets, elastomeric gaskets, and other gaskets. Metallic gaskets are expected to remain the most dominant material type, whereas elastomeric gaskets are expected to be the fastest-growing material in the market during the forecast period. Increasing demand for providing reliable seals for fuel, coolant, and engine oil coupled with increasing demand for plastic components to produce lighter and compact vehicles are the major factors driving the demand for elastomeric gaskets over the next five years.

Application Trends

The market is segmented as inlet section, central engine system, exhaust section, transmission system, battery, and others. The central engine system is expected to remain the biggest demand generator for gaskets during the forecast period. A large number of applications of gaskets including the cylinder head, oil pan, manifold, crankshaft, exhaust, pumps, etc. in the automotive engine is the major factor behind the dominance of engine application in the market. Gaskets are commonly linked with internal combustion engines; however, they are now widely used in electric vehicles. Electric motors must be protected from lubricants used in wheel axles and external environmental conditions in electric vehicles, which is creating significant commercial opportunities for the gasket stakeholders.

End-User Trends

The market is segmented as OE and aftermarket. OE is expected to remain the largest segment of the market during the forecast period, owing to the longer life span of gaskets. Organic growth of the automotive industry, advancements in technologies, changing the size of components, development of smaller displacements, and turbocharged engines are the major factors for healthy growth of the OE segment in the market over the next five years.

Regional Analysis

Asia-Pacific is expected to remain the largest market for automotive gaskets during the forecast period. With the presence of a large number of OEMs, tier players, and raw material suppliers, Asia-Pacific is a hub of the automotive industry. China and India are the growth engines of the region’s market. North America is likely to grow at the fastest rate in the automotive gaskets market over the next five years, driven by an expected rebound in vehicle production coupled with a paradigm shift from ICE to electric vehicles.

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Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The automotive gaskets market is segmented into the following categories-

By Vehicle Type

• Passenger Car
• Light Commercial Vehicle
• Medium- & Heavy-Duty Vehicle

By Material Type

• Metallic Gaskets
• Elastomeric Gaskets
• Other Gaskets

By Application Type

• Inlet Section
• Central Engine System
• Exhaust Section
• Transmission System
• Battery
• Others

By End-User Type

• OE
• Aftermarket

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, and the Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, India, and the Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Argentina, and Others)

Key Players

The following are the key players in the automotive gaskets market-

• Dana Incorporated
• ElringKlinger AG
• Talbros Automotive Components Ltd.
• Tenneco Incorporated
• Nichias Corporation
• Freudenberg Group
• Uchiyama Manufacturing Corporation
• Yantai Ishikawa Sealing Technology
• Nippon Gasket Co., Ltd.
• Kokusan Parts Industry Company Limited
• Nippon Leakless Corporation

Target Audience

Here is the list of the group of customers that the automotive gaskets market hopes to have the greatest opportunity to convert-

• Distributors
• Suppliers
• Manufacturers
• Logistics organizations
• Government bodies

Report Features

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:

• Overview, industry life cycle analysis, supply chain analysis.
• Environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Trends and forecast analysis.
• Segment trends and forecast.
• Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors

Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s automotive gaskets market realities and future market possibilities for the forecast period of 2021 to 2026. The report segments and analyses 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 1,000 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.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com