Press release
Automotive Gasket and Seal Market to Record Sturdy Growth by 2022
The global automotive gasket and seal market is foretold to be valued at a US$84.0 bn by the completion of 2022 while growing at a CAGR of 5.8% during the forecast period 2017–2022. In 2017, the market attained a valuation of US$63.2 bn.
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The world automotive gasket and seal market is envisaged to be segregated into metallic and non-metallic gaskets as per type of product. Amongst these products, metallic gasket could collect a lion’s share of 71.7% by the end of 2022. The metallic gasket market is anticipated to grow with a greater absolute revenue compared to the non-metallic market. Annually, metallic gasket could expand at a US$3.1 bn during the course of the forecast timeframe.
In respect of vehicle type, the world automotive gasket and seal market is prognosticated to see a segmentation into compact, mid-sized, premium, luxury, commercial, and heavy commercial vehicles. In terms of sales channel, players could find favorable business prospects in the presence of OEM and aftermarket segments. On the basis of material type, there could be possible segments such as metal, fiber, rubber, and silicon.
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On the geographical front, the international automotive gasket and seal market is predicted to be cataloged into different regions, where Asia Pacific except Japan (APEJ) could take a leading share by the end of 2022. A revenue valuation of US$30.3 bn is expected to be achieved by this region by the concluding forecast year. The Middle East and Africa (MEA) could showcase a somewhat improved performance compared to Japan. By 2022 end, the MEA could reach a valuation of US$4.2 bn. Japan, on the other hand, is forecast to rise at a 4.6% CAGR, which could be lower than that of the MEA.
Nonetheless, there could be attractive opportunities birthed by other promising regional markets such as North America and Europe. By 2022, North America is envisioned to earn a US$17.2 bn while Europe could expand at a 5.7% CAGR.
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Some of the top-level companies showing face in the worldwide automotive gasket and seal market could be Dana Limited, Federal-Mogul Corporation, Trelleborg AB, Datwyler, Elringklinger AG, SKF AB, Smiths Group plc, Victor Gaskets India LTD, Freudenberg Sealing Technologies GmbH & Co, and KG and Flowserve Corporation.
Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations
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