The automotive industry is estimated to gain traction in the coming years due to the fast-growing economics and developing markets across the globe. Advancements in the automotive industry have led to the higher acceptance of products, such as automotive oil seals, which are used to prevent lubricant escape.
Automotive oil seals are also used to stop harmful contaminants from entering the machinery. Different types of automotive oil seals are available in the market based on types, which include rubber oil seals, plastic oil seals and metal oil seals. Among these, rubber oil seals are estimated to be highly preferred by automotive manufacturers.
The demand for automotive oil seals is expected to witness significant growth over the forecast period owing to an upsurge in automotive production across the globe.
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FACTS AT A GLANCE
Companies: Dana Holding Corporation,ElringKlinger Engineered Plastics,Federal-Mogul Motorparts LLC.,HUTCHINSON,E.S Oil Seal SDN BHD,NAK Sealing Technologies Corporation,NOK CORPORATION,Qingdao TKS Sealing Industry Co., Ltd.,Shaanxi Fenghang Rubber Sealing Parts Co., Ltd.,SKF AB,The Timken Company,Trelleborg Group
Coverage: All major geographies and key segments
Segments: Automotive Oil Seals Market Segmented By types such as Rubber Oil Seals, Metal Oil Seals, Plastic Oil Seals with sales channel such as OEM (Original Equipment Manufacturer) and Aftermarket
Geographies: North America (U.S., Canada),Latin America (Mexico, Brazil, Argentina, Chile, Peru),Western Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Eastern Europe),CIS and Russia,Asia-Pacific (China, India, ASEAN, South Korea),Japan,Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
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ABSTRACT-
Though automotive oil seals are available at a low cost, they have to be replaced at regular intervals owing to rapid wear. This is expected to restrain the growth of the automotive oil seals market over the forecast period. Moreover, some of the disadvantages of automotive oil seals, which include high material selection standards, limited use area, etc., are also expected to hamper the growth of the automotive oil seals market over the forecast period.
In the next five years, manufacturers as well as OEMs of automotive oil seals are expected to invest significantly in R&D activities for the development of new and innovative products to maintain their leadership in the market. Moreover, the strong outlook of the global automotive market is expected to create significant opportunities for the manufacturers of automotive oil seals.
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