Automotive Engine Gaskets Market Report
Automotive Engine 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, Composite Gaskets, and Other Gaskets), by Application Type (Inlet Section, Central Engine System, and Exhaust Section), by End-User Type (OE and Aftermarket), and by Region (North America, Europe, Asia-Pacific, and Rest of the World)
Automotive Engine 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, Composite Gaskets, and Other Gaskets), by Application Type...
Impact of COVID-19 on Automotive Engine 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.
The automotive engine is the most crucial section of the vehicle. An engine consists of several components that have to withstand extreme torturous temperature and pressure conditions. Increasing demand for lightweight, compact, and powerful engines in order to improve the fuel economy and to reduce carbon emissions; is putting an additional impact on the components towards developments and advancements. Gaskets used in the automotive engines are also continuously evolving in terms of technology and materials to address emerging market requirements. For an instance, cylinder head gaskets have evolved from a flat, pressed design to a flexible design; from a solid gasket to a multi-layered steel gasket.
The automotive engine gaskets can be broadly classified into two categories automotive cylinder head gasket and specialty gaskets. Specialty gaskets mainly include oil pan gasket, manifold gasket, and pump gasket used in between crankcase, oil pan, cylinder block, manifold, etc. to prevent the leakages and to ensure tight fit joint in order to maintain the compressive pressure inside the engine during operation. The gaskets used in the engine must meet conformity with the mating surfaces and provide high pressure, temperature, and vibration withstanding capability, impermeability to the fluid, excellent chemical resistance, and have apertures for any studs or bolts, etc.
The automotive engine gaskets market growth is analogous to the growth of automotive vehicle production. The decline in automotive production in 2018 and 2019 has had a huge impact on its engine gaskets market as well. While the industry was expecting a recovery in automotive production in 2020, the outburst of the COVID-19 pandemic has marked a graver impact in the market with over a 15% decline in automotive production in 2020.
However, the long-term picture appears to be fruit full, owing to the industry's robust character and solid fundamentals. An expected recovery in the production of advanced and lightweight automobiles is predicted to give a rise to innovative materials and designs in automotive gaskets. The market of automotive engine gaskets is projected to grow at a rate of 5.7% to reach US$ 1.8 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 as well as the fastest-growing segment of the market in the coming years. Developing countries like China, India, and Thailand are the major buyers of passenger cars in Asia. Production of powerful, long-lasting, and highly efficient engines is the major factor behind the fastest growth of the passenger segment in the market during the forecast period. Increasing penetration of electric vehicles will have a profound impact on the market in the foreseeable future.
Based on the material type, the market is segmented as metallic gaskets, elastomeric gaskets, composites gaskets, and other gaskets. Metallic gaskets are expected to remain the dominant material type, whereas elastomeric gaskets are expected to be the fastest-growing material in the market during the forecast period. Increasing usage of lightweight materials, such as plastics and composites, in automotive part manufacturing in order to make vehicles lighter, is likely to boost the demand for elastomeric gaskets owing to their greater compatibility and wider benefits.
Based on the application type, the market is segmented as inlet section, central engine system, and an exhaust section. The central engine system is expected to remain the biggest demand generator for gaskets in the market during the forecast period, owing to the widespread application of gaskets in the central engine section. Although gaskets are often associated with internal combustion engines, they are now routinely deployed in electric vehicles. Electric motors in electric vehicles must be protected from lubricants used in wheel axles and the outside environment, which presents a substantial business opportunity for the gasket stakeholders.
Based on the end-user type, the market is segmented as OE and aftermarket. OE is expected to remain the larger segment of the market during the forecast period. The market is likely to grow with the increase in vehicle production and OEMs expansions across Asia-Pacific. Increased automotive fleet size, especially in Asia-Pacific, is the major drive factor of aftermarket segment expansion.
In terms of regions, Asia-Pacific is expected to remain the largest market for automotive gaskets during the forecast period, mainly driven by China and India. China is the largest automotive vehicle producer in the world with a large number of local, regional, and global players in the country. The rising disposable income of individuals especially in the emerging economies of the region coupled with the presence of a large number of OEMs is likely to create a healthy demand for automotive engine gaskets over the next five years.
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 engine 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 engine gaskets market is segmented into the following categories.
Automotive Engine Gaskets Market, by Vehicle Type
Automotive Engine Gaskets Market, by Material Type
Automotive Engine Gaskets Market, by Application Type
Automotive Engine Gaskets Market, by End-User Type
Automotive Engine Gaskets Market, by Region
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The automotive engine gasket market is estimated to grow at a healthy CAGR of 5.9% by 2026.
Dana Incorporated, ElringKlinger, Talbros, DRiV Inc., Tenneco Incorporated, Nichias Corporation, Datwyler Sealing Solution USA Inc, 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 engine gaskets market.
Asia-Pacific is estimated to remain dominant in the automotive engine gaskets market in the foreseen future.
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