Press release
Sales of Automotive Window Seals is expected to grow at a CAGR of 8% during 2022 to 2032
Global Automotive Window Seals Industry Outlook in 2021 and BeyondThe Automotive Window Seals industry is looking forward to 2021 with a sense of optimism. In 2020, Automotive Window Seals sales recovered in the last quarter to salvage lost momentum during March-April 2020. And, as vaccine rollout gains momentum, most automakers are hoping for better performance in 2021.
US Automotive Window Seals Industry Set to Recover in 2021
In 2019, US Automotive Window Seals sales were to the tune of 17.1 million. The outbreak of COVID-19 in early 2020, and subsequent shutdown created apprehensions that 2020 may be the worst year for US auto industry since Great Depression.
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However, Automotive Window Seals sales climbed back slowly in US, partly helped by a quick shift to online sales. Many US automakers are now investing highly in online sales channel, with 2021 expected to witness high online sales.
As per early success of vaccine inoculation and consumer receptivity toward online sales, it is highly likely that 2021 will be a better year for sales. Total Automotive Window Seals sales in US are likely to be in the range of 15.5 million to 16 million.
Europe Automotive Window Seals Market Players Can Benefit from Foreign Exports
The Europe automobile market is also likely to witness a recovery in 2021. The European Automobile Manufacturers' Association is hoping for a 10% increase in sales.
As is the case in US, European auto industry is hoping that vaccine inoculation brings the pandemic under control. Many countries in Europe have witnessed severe waves of COVID-19 pandemic, and are now in recovery phase.
While the domestic Automotive Window Seals demand is likely to recover at a steady pace in Europe, exports to China, Latin America, and Asia Pacific are likely to induce momentum for European auto companies.
Key Segments
By Vehicle Type
Passenger Car
LCV
HCV
Electric Vehicle
By Component Type
Roof Ditch Molding
Seals
Glass Run Channels
By Exterior Seals
Trunk Seals
Hood Seals
Front Windshield Seals
By Region
North America
US
Canada
Latin America
Brazil
Mexico
Europe
Germany
Italy
France
U.K.
Spain
BENELUX
Russia
South Asia and Pacific
India
ASEAN countries
Oceania
East Asia
China
Japan
South Korea
Middle East & Africa
GCC
Turkey
South Africa
North Africa
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China will Further its Lead as World's Largest Automotive Window Seals Market
The Automotive Window Seals industry in China represents the brightest optimism for any country globally. The pandemic recovery in China is at an advanced stage as compared to western countries. Further, the government in China is focusing on a massive infrastructure push, which is likely to help automakers exporting their wares to China.
China is the only major economy to have grown in 2020, and country's China Association of Automobile Manufacturers is forecasting 26 million sales in 2021. Volkswagen Group and General Motors are likely to maintain their position as the country's largest foreign automakers.
China is the world's largest automobile market, and going by the economic scenario and COVID-19 recovery, the country is likely to remain at numero uno position in the future as well.
Indian Automotive Window Seals Outlook Subdued by COVID-19 Resurgence
The Indian automobile industry is beset with challenges arising due to a nation-wide second wave of COVID-19 epidemic. Things were looking up for the Indian automobile industry, however, lockdown measure to contain a more virulent COVID-19 can dent overall sales in 2021.
The localized restrictions imposed by governments can have an impact on dealership activity, logistics, and in-showroom consumer visits. Also, it is anticipated that India may have to brace up for further waves of COVID-19, which can dent consumer sentiment.
Who are the Key Manufacturers and Suppliers of Automotive Window Seals?
Some of the leading manufacturers and suppliers include Lauren Plastics LLC, Magna International Inc., Cooper Standard Automotive Inc., Hutchinson Sealing Systems Inc., Toyoda Gosei Co. Ltd and REHAU Incorporated.
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Key Long-term Trends
Overall, the Automotive Window Seals industry is looking for a recovery year in 2021. While China is anticipated to take the lead, healthy recovery in US and Europe markets will create necessary impetus. Amidst the recovery phase, there will be some mega trends and some subtle trends that will have a bearing on Automotive Window Seals market in the long run. These include,
Automotive Window Seals digital retail
Automotive Window Seals digital retail will make further inroads in 2021. As localized restrictions and consumer discretion increase due to COVID-19, more consumers are opening up to the idea of online automobile purchase. This trend is likely to become stronger in 2021, especially in US and Western Europe
Further gains in connected and autonomous cars
Connected and autonomous cars may have lost some of their momentum in 2020, but their long-term forecast remains bullish. Automakers are increasingly aware of the white space Silicon Valley giants are eyeing. In the long run, an increase in proprietary software of partnership with tech companies will be in the offing.
Automotive Window Seals sales will continue unabated
The sales of Automotive Window Sealss have grown from strength to strength, dispelling the skepticism and early apprehensions. The focus now is on developing a scalable production model and enough charging stations so consumers are confident of investing in the technology of tomorrow.
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