The Automotive Gaskets And Seals Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Automotive Gaskets And Seals Global Market Report 2024, 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.
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.
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The automotive gaskets and seals market covered in this report is segmented –
1) By Material: Fiber, Graphite, PTFE, Rubber, Silicones
2) By Product Type: Gaskets, Seals
3) By End Use: Automotive, Aerospace, Machinery, Electronics & Electrical, Marine & Rail
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 automotive gaskets and seals market report table of contents includes:
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. Global Automotive Gaskets And Seals Market Size and Growth
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26. South America Automotive Gaskets And Seals Market
27. Brazil Automotive Gaskets And Seals Market
28. Middle East Automotive Gaskets And Seals Market
29. Africa Automotive Gaskets And Seals Market
30. Automotive Gaskets And Seals Market Competitive Landscape And Company Profiles
Top Major Players:
- Freudenberg Co
- Elringklinger Silicon Valley Inc
- Dana Holding Corporation
- Svenska Kullagerfabriken AB
- Trelleborg AB
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