Automotive Gaskets and Seals: Market Introduction
Gaskets and seals are the components used in vehicles to prevent fluid and gas leakage. They fill the gap between the automotive components thus ensuring no leakage. The seals prevent lubricants from escaping the bearings. The seal also avoids dust and other contaminants from entering the machinery.
With the technological advancements, gaskets and seals offer an effective means to obtain better fuel economy and have reduced the repair and maintenance requirement, thereby improving the average life span of automotive components.
Moreover, the stringent regulations regarding the maximum limit on emissions as incorporated by automotive agencies are further expected to drive the market. There has been an increasing usage of lightweight materials such as silicone rubber to further cut fuel cost and improve efficiency.
The manufacturers are focusing on the development of materials that reduce the fuel requirement and can withstand high heat as well as pressure.
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Automotive Gaskets and Seals Market Drivers
With the rapid technological advancements in vehicles sector and the growing need to attain better fuel efficiency and vehicle performance, the market for gaskets and seals is expected to grow significantly. Gaskets and seals usage has led to reduction in the maintenance cost of vehicles and has improved the lifespan of the automotive components.
With the increasing stringent emission regulations, the OEMs are focusing on the mandatory incorporation of gaskets and seals in vehicles, thus driving the global automotive gaskets and seals market.
The aftermarket sales channel is also a major revenue generating segment in the global automotive gaskets and seals market.
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Automotive Gaskets and Seals Market Trends
The manufacturers are focusing to further improve the fuel economy by introducing lightweight, easy to assemble and improved quality automotive gaskets and seals components.
Materials that can improve the fuel efficiency and can withstand high heat and pressure are gaining popularity in the global automotive gaskets and seals market.
Automotive Gaskets and Seals: Market Segmentation
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Automotive Gaskets and Seals: Regional Outlook
Asia Pacific Excluding Japan is expected to be a relatively lucrative market owning to the increasing vehicle production and vehicle parc in the developing economies of the region. North America and Europe are also expected to hold a significant share in the global automotive gasket and seal market. This is attributed to the flourished automotive industry in the region. Middle East and Africa are expected to show moderate growth over the forecast period.
Automotive Gaskets and Seals: Market Participants
Examples of some of the market participants of the global automotive gaskets and seals market identified across the value chain include Dana Limited, Federal-Mogul Corporation , Trelleborg AB, Datwyler, The SKF Group, Smiths Group plc, Freudenberg Sealing Technologies GmbH & Co. KG and Flowserve Corporation among others.
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