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Automotive Gaskets And Seals Market Analysis 2024 -2033: Forecasted Market Size, Top Segments, And Largest Region | Freudenberg Co., Elringklinger Silicon Valley Inc., Dana Holding Corporation, Svenska Kullagerfabriken AB
Automotive Gaskets And Seals Market Size
The Business Research Company offers in-depth market insights through Automotive Gaskets And Seals Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The automotive gaskets and seals market size has grown strongly in recent years. It will grow from $17.26 billion in 2023 to $18.43 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to growth in automotive industry, aging vehicle fleet, regulatory compliance, rise in demand for automotive maintenance and repairs, economic growth.
The automotive gaskets and seals market size is expected to see strong growth in the next few years. It will grow to $24.35 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to increasing vehicle complexity, rise in autonomous vehicles, increasing adoption rate of electric vehicles, increasing demand for fuel efficient and environment-friendly vehicles, rise in disposable income. Major trends in the forecast period include sustainability and green sealing solutions, advanced materials adoption, customization and 3d printing, digital twin technology.
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Market Segmentation:
The main types of automotive gasket and seals by material include fiber, graphite, PTFE, rubber, and silicone. Fiber gaskets and seals are mainly used in the chemical and petroleum product manufacturing industries. PTFE has a gasket material that has strong chemical resistance properties. Rubber seals are widely used to prevent leakage of air, chemicals, gases, or liquids. Silicone gaskets have excellent resistance to aging, chemicals, fire, fungal growth, heat, water, and ozone. Major end-users of gaskets and seals include the automotive, aerospace, machinery, electronics and electrical, and marine and rail industries.
Major Driver - Surging Demand For Electric Vehicles Powers The Automotive Gaskets And Seals Market
The increase in demand for electric vehicles is driving the automotive gaskets and seals market. Gaskets and seals are used in many EV applications such as battery packs to provide environmental sealing and insulation. For instance, in June 2022, according to the United States Department of Energy (DOE), a US-based government agency, the total number of electric vehicle registrations in the United States was 1.45 million, with California accounting for approximately 563,070 registrations of light-duty electric vehicles, representing 39% of EVs nationwide in 2021. The next-greatest number was in Florida, followed by Texas. Therefore, the rapidly growing demand for electric vehicles is supporting the growth of the automotive gaskets and seals market.
Competitive Landscape:
Major companies operating in the automotive gaskets and seals market include Freudenberg Co., Elringklinger Silicon Valley Inc., Dana Holding Corporation, Svenska Kullagerfabriken AB, Trelleborg AB, Federal-Mogul Corporation, Flowserve Corporation, Custom Gasket Manufacturing, Arizona Sealing Devices Inc., Economy Die & Gasket Inc., Gasket Express, Sealing Specialties Inc., XTO Inc., New Process Fibre Company Inc., CGR Products Inc., RD Rubber Technology Corporation, PDI Gaskets & Seals, Mercer Gasket & Shim, Phelps Industrial Products LLC, REDCO Rubber Engineering & Development Company, Kent Rubber Supply Co., MAHLE Aftermarket Inc., Interface Performance Materials, Garlock Sealing Technologies, James Walker Ltd., Flexitallic Ltd., Teadit Pvt. Ltd., Lamons Manufacturing & Service Co., Klinger Limited, Henniges Automotive
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Top Trend - Rise Of 3D Printing Technology Revolutionizing Automotive Gaskets And Seals Market
3D printing is increasingly being used in the manufacturing of automotive gaskets and seals. 3D printing or additive manufacturing is the process of making three-dimensional objects from a digital file. By using 3D printing, manufacturers can economically and efficiently create gaskets of varying dimensions as per applications. For example, DP Seals, a leading global supplier of custom seals, gaskets and molding uses 3D printing rubber seals to identify design faults and accelerate the development process.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Automotive Gaskets And Seals Market Characteristics
3. Automotive Gaskets And Seals Market Trends And Strategies
4. Automotive Gaskets And Seals Market - Macro Economic Scenario
5. Automotive Gaskets And Seals Market Size And Growth
…..
27. Automotive Gaskets And Seals Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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