Press release
Automotive Bellows Market: Opportunities and Forecast Assessment, 2018-2028
Increasing automotive production and vehicle parc is one of the major factors driving the growth of the automotive bellows market. Explosive automotive growth, particularly in some regions, has considerably contributed to the spurring growth of various local and international bellows companies. The increasing demand for good weather-resistant, heat-resistant, oil- and grease-resistant, and dust-resistant bellows in the automotive industry is expected to contribute to the global automotive bellows market in the coming years.
The necessity of automotive bellows is increasing with good pace. However, there are a large number of manufacturers in the market, due to which, the intensity of competition is considerably high. Increasing competition in the automotive sector with the entry of new players in the market is expected to lower the overall margin for the players. In order to maintain a good position in the market, manufacturers need to come up with innovative, efficient, and cost-effective products.
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The changing focus of the automotive industry to technological trends, including the electrification of mechanical components and autonomous driving is estimated to propel the demand for advanced automotive components in the market across the globe. This, in turn, is estimated to fuel the demand for automotive bellows during the forecast period. The rapidly growing automotive industry, particularly in the emerging countries (China, India, ASEAN) of the Asia Pacific region is expected to propel the demand for automotive bellows during the forecast period. The increasing demand for light commercial vehicles and passenger cars in North America and Europe, respectively, is expected to project significant growth opportunities for automotive bellows manufacturers in the near future. The increasing demand for transportation vehicles for the construction and oil & gas industries in the regions of Latin America and Middle East and Africa, respectively, is expected to fuel the demand for automotive bellows in the coming years.
Examples of some of the market participants identified across the value chain of the global automotive bellows market include: Jefferson Rubber Works, Inc., Sigma Polymer Industries, BOA Holding GmbH, Witzenmann GmbH, Vibracoustic, Hyspan Precision Products, Inc., Precise Industries, Trinity Auto Engineering Pvt Ltd etc.
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