Press release
SKF Forecast to Lead $14.5 Billion Automotive Rubber Seal Market in 2022: TechSci Research Report
Increasing vehicle sales across all vehicle categories coupled with constantly expanding automotive fleet to boost the global automotive rubber seal market through 2022According to TechSci Research report, “Global Automotive Rubber Seal Market By Vehicle Type, By Product Type, By Region, Competition Forecast & Opportunities, 2012 – 2022”, the global automotive rubber seal market is projected to cross $ 14.5 billion by 2022. Major factors that are expected to drive the market include rising demand for rubber seals from OEMs, growing rubber seal sales in the replacement market across the globe, and increasing penetration of passenger cars in developing countries. In 2016, the passenger car rubber seal segment dominated the global automotive rubber seal market, followed by two-wheeler rubber seal and light commercial vehicle rubber seal segments. Passenger car rubber seal segment is anticipated to continue its market dominance in the global automotive rubber seal market over the next five years.
Browse 178 market data Figures spread through 280 Pages and an in-depth TOC on "Global Automotive Rubber Seal Market "
https://www.techsciresearch.com/report/global-automotive-rubber-seal-market-by-product-type-o-ring-seals-mechanical-seals-lip-seals-rotary-seals-by-vehicle-type-pc-lcv-m-hcv-two-wheeler-otr-forecast-opportunities/1043.html
Asia-Pacific accounts for the largest market share of automotive rubber seal market, which is majorly due to large existing fleet of two wheelers in the region. Nevertheless, the passenger car rubber seal sales in the region are also witnessing a continuing increase in demand, predominantly on account of growing passenger car sales in China and India. In 2016, Asia-Pacific accounted for the largest fleet of two-wheelers and second largest fleet of passenger cars, globally, consequently establishing the region a major market for automotive rubber seal. Due to presence of automobile production hubs like China and India, Asia-Pacific is witnessing surging demand for automotive rubber seals from automotive OEM segment. Moreover, aftermarket market is being driven by the region’s large and expanding automotive fleet.
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Unorganized sector captured a large market share in global automotive rubber seal market. In the organized sector, various multinational companies like SKF, DANA, Freudenberg, Trelleborg, Federal Mogul, etc., are expected to further increase the market competition over the next five years. Collaborations with leading global OEMs coupled with the SKF’s strong sales network across the globe would allow the company to continue its market dominance through 2022.
“Over the last few years, the global automobile industry has witnessed considerable increase in demand for passenger car, two- wheeler, commercial vehicles and OTR vehicles resulting in increase of rubber seal sales, globally. This trend is expected to prevail with continuing growth in rubber seal production and demand over the next five years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Automotive Rubber Seal Market By Vehicle Type, By Product Type, By Region, Competition Forecast & Opportunities, 2012 – 2022” has analyzed the potential of automotive rubber seal market across the globe, and provides statistics and information on market sizes, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes emerging trends along with essential drivers and key challenges faced by the industry.
About TechSci Research
TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.
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