Stratview Research announces the launch of a new research report on Automotive Seals Market 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), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2021-2026.
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s automotive seals market realities and future market possibilities for the forecast period of 2021 to 2026. After a continuous interest in our automotive seals market report from the industry stakeholders, we have tried to further accentuate our research scope to the automotive seals market to provide the most crystal-clear picture of the market. The report segments and analyses the market in the most detailed manner 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 low-hanging fruits available in the market as well as formulate the growth strategies.
Automotive Seals Market: Research Highlights
Seals are used to serve a multitude of functions including connecting the joints, prevention of leakage, and exclusion of unnecessary particles. In the automotive industry, seals are used in many parts of a vehicle for filling the gap between two components to make sure that there is no leakage between them during the compression stage. Automotive seals come in different shapes and sizes, and are used in induction sealing, heating, stuffing, and adhesion of various parts in automobiles. The choice of materials to manufacture seals depends on the application and its requirements.
Seals are small but undoubtedly one of the major components, especially where there is a greater need for high-temperature resistance and excellent corrosion resistance. The selection of material is dependent on several parameters including temperature resistance, lightweight, durability, strength, etc. Thermoplastics are gaining traction in the market because of their enormous advantages over others.
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.
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Based on the vehicle type, 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.
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, whereas transmission system is likely to be 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.
Based on the material type, 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.
Based on the product type, the market is segmented as O-rings, Gaskets, Profile Seals, Lip Seals, and Others. The dominant product type in the automotive seals market is Profile Seals while the fastest growing is Lip Seals. Lip Seals have various advantages over their counterparts. Increasing awareness towards development of vehicles offering greater fuel efficiency is also imprinting the dynamics of the seals market. There has been a paradigm shift from traditional seals to lightweight seals.
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In terms of regions, 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 the existing programs. Furthermore, huge production base of automobiles in China, Japan, India, Korea, and Thailand assures enormous demand for seals in the region.
The market for automotive seals is gradually consolidating as major companies are performing mergers & acquisitions to quickly gain the leading position and to tap growing opportunities in this briskly expanding market. Following are the key players in the automotive seals market.
Development of lightweight seals for critical applications and execution of M&A activities are the key strategies adopted by the major players to gain a competitive edge in the market. Over a period of time, technological advancements have made automotive seals safer and more effective.
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 on 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:
This report studies the automotive seals market and has segmented the market in six ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the six ways in which the market is segmented:
Automotive Seals Market, by Vehicle Type
Automotive Seals Market, by Application Type
Automotive Seals Market, by Material Type
Automotive Seals Market, by Product Type
Automotive Seals Market, by Motion Type
Automotive seals Market, by Region
Stratview Research has several high value market reports in the automotive and transportation industry. Please refer to the following link to browse through our reports:
https://www.stratviewresearch.com/market-reports/Automotive-Transportation.html
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