Automotive Gaskets Market Report
Automotive Gaskets Market is Segmented by Vehicle Type (Passenger Car, Light Commercial Vehicle, and Medium- & Heavy-Duty Commercial Vehicle), by Material Type (Metallic Gaskets, Elastomeric Gaskets, and Other Gaskets), by Application Type (Inlet Section, Central Engine System, Exhaust Section, Transmission System, Battery, and Others), by End-User Type (OE and Aftermarket), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
Automotive Gaskets Market is Segmented by Vehicle Type (Passenger Car, Light Commercial Vehicle, and Medium- & Heavy-Duty Commercial Vehicle), by Material Type (Metallic Gaskets, Elastomeric Gaskets, and Other Gaskets), by Application Type...
Impact of COVID-19 on Automotive Gaskets Market
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.
An automotive gasket is a flat piece 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 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, and 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.
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, increase in the development of smaller, compact and powerful engines with features like direct injection and hybrid technology creating enormous demand for advancements in the 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. The market of automotive gaskets will grow at a rate of 5.7% to reach US$ 3.1 Billion in 2026.
Based on the vehicle type, 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 the 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.
Based on the material type, the market is segmented as 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.
Based on the application type, 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.
Based on the end-user type, 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 a 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.
In terms of regions, 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.
The following are the key players in the automotive gaskets market.
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.
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 gaskets market is segmented into the following categories.
Automotive Gaskets Market, by Vehicle Type
Automotive Gaskets Market, by Material Type
Automotive Gaskets Market, by Application Type
Automotive Gaskets Market, by End-User Type
Automotive Gaskets Market, by Region
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The automotive gasket market is estimated to grow at a healthy CAGR of 5.7% by 2026.
Dana Incorporated, ElringKlinger, Talbros, Tenneco Incorporated, Nichias Corporation, Freudenberg Group, Uchiyama Manufacturing Corporation, Yantai Ishikawa Sealing Technology, Nippon Gasket, Kokusan Parts Industry Company Limited, Nippon Leakless Corporation are the leading players in the automotive gaskets market.
Asia-Pacific is estimated to remain dominant in the automotive gaskets market in the foreseen future.
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