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Global Automotive Weather Strip Market is Expected to Reach USD 19,867.2 Million by the End of 2026

08-12-2021 04:24 PM CET | Tourism, Cars, Traffic

Press release from: INFINITY BUSINESS INSIGHTS

Infinity analysts forecast the global Automotive Weather Strip market to grow at a CAGR of 5.7% during the forecast period, according to their latest market research report.

Automotive weather strips are attached to door & window frames of vehicles, along with the trunk, roof, windshield, and other parts. The weather strips prevent the entry of humid outdoor air, so as to maintain the ambient temperature inside cars. Weather strips also protect against harsh climate and weather conditions, ensuring improved maintenance of vehicle interiors.

Rising integration of cooling units inside passenger vehicles to bolster demand for Automotive Weather Strip; product incorporation in commercial vehicles for cold chain logistics to boost market growth.

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The rising incorporation of temperature-controlled air conditioning in vehicles and a gradual increase in global automotive production volume are the influential primary factors that would propel the growth of the market during the forecast period. The rising integration of air conditioning units inside passenger vehicles for enriched driving experience has been another integral factor of market growth, enabling heightened product demand in the ensuing months. The increasing consumer spending on luxury interior accessories has also increased the importance of weather strips, as the strips protect sensitive parts of the car interiors against damage from external elements of nature. The increasing production volume of automotive vehicles would act as a direct influence on the continued demand and manufacturing of weather strips, as several automotive manufacturers turn towards weather strips for additional protection. The rapid adoption of commercial vehicles in cold-stored food and pharmaceuticals delivery would offer crucial vendors with new opportunities for product sales and business expansion over the forecast period.

EPDM Strip, TPE/TPO/TPV Strip, and Others are covered in the Type segment of the market scope. In contrast, the Application segment is categorized into Passenger Vehicle and Commercial Vehicle. The report covers Consumption volume of the global market by Application, with the volume expressed in Million Tons. The Type segment is calculated in terms of Production value and volume.

The volume of the Passenger Vehicle Consumption by Application is estimated to garner 168.7 Million Tons by 2026, growing at a CAGR of 5.3% from 2020 to 2026. The increasing sale of passenger vehicles in demand-rich regions with high-spending customers would boost the growth prospects of the segment. The consumer needs to incorporate cooling units inside automobiles would also influence segment growth in the coming years.

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North America, Europe, Asia Pacific, South America, and Middle East & Africa are taken into consideration while arriving at the global volume and value figures. While North America is further categorized into the United States, Canada, and Mexico, Europe is split into the United Kingdom, Germany, France, Italy, Russia, and Rest of Europe. Asia-Pacific covers India, China, Japan, South Korea, and Rest of Asia Pacific in its scope. South America is bifurcated into Brazil, Argentina, and Rest of South America, with Middle East & Africa involving GCC Countries, Egypt, South Africa, and Rest of Middle East & Africa.

North America is a prominent region and a lucrative prospect for manufacturers due to its substantial share in terms of consumption volume. The influence and evolution of commercial vehicles for application in the transportation of cold-stored pharmaceuticals and processed food would boost the regional market growth during the forecast period.

The Automotive Weather Strip market is moderately fragmented, with several global and regional players operating with expansive manufacturing capabilities and extensive product distribution networks. The extension of manufacturing capabilities through expansion in production facilities and diversification of business capabilities through strategic acquisitions and partnerships are the primarily followed business strategies of top players.

Hwaseung Industries Co., Ltd. is one of the most significant companies of the global Automotive Weather Strip market in terms of production volume, with Tokai Kogyo Co., Ltd. and Hubei Zhengao Automotive Accessories Co., Ltd. among many other vendors to hold substantial market share by volume and value.

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Infinity Business Insights is a market research company that offers market and business research intelligence all around the world. We are specialized in offering the services in various industry verticals to recognize their highest-value chance, address their most analytical challenges, and alter their work.
We attain particular and niche demand of the industry while stabilize the quantum of standard with specified time and trace crucial movement at both the domestic and universal levels. The particular products and services provided by Infinity Business Insights cover vital technological, scientific and economic developments in industrial, pharmaceutical and high technology companies.

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