Automotive Gasket & Seals Market Size, Share is Projected to Showcase Significant...

Automotive Gasket & Seals Market Size, Share is Projected to Showcase Significant Growth Over 2026

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The MarketWatch News Department was not involved in the creation of this content.

Aug 12, 2020 (Market Insight Reports) —
Selbyville, Delaware According to Market Study Report, Provides A Detailed Overview Of Automotive Gasket & Seals Market With Respect To The Pivotal Drivers Influencing The Revenue Graph Of This Business Sphere. The Current Trends Of Automotive Gasket & Seals Market In Conjunction With The Geographical Landscape, Demand Spectrum, Remuneration Scale, And Growth Graph Of This Vertical Have Also Been Included In This Report.

Global Automotive Gasket & Seals Market Size, Share is valued approximately USD 11,553 million in 2019 and is anticipated to grow with a healthy growth rate of more than 7% over the forecast period 2020-2026.

Request a sample Report of Automotive Gasket & Seals Market at@ https://www.marketstudyreport.com/request-a-sample/2663610/?utm_source=marketwatch.com&utm_medium=ADS

Automotive gaskets and seals are the components which is increasingly used in vehicles to avoid gas and fluid leakage. They fill the gap between the automotive components therefore, ensuring no leakage in vehicles. The seals avoid lubricants from fleeing the bearings. These components also avoid dust and other contaminants from entering the automotive machineries. With the technological developments, gaskets and seals also provide an effective means to get better fuel economy and have reduced the requirement of repair and maintenance, thereby enhancing the average lifespan of automotive components.

Thus, this factor is expected to accelerate the demand of automotive gaskets & seals worldwide. Further, rise in adoption of electric and commercial vehicles, along with the growing concern on environmental and health are the few factors responsible for high CAGR of the market over the forecast period. For instance, As per the Edison Electric Institute, the global electric vehicles sales were amounted about 312,000 in Q1 2018, an increase of 58% compared to Q1 2017. Similarly, the number of electric vehicles on the road in the United States, is about 8,90,000 in 2018, up from number of electric vehicles of approximately 6,00,000 in 2017. This, in turn, is expected to accelerate the market growth all over the world. However, the advent of COVID-19 pandemic has a swift and severe impact on every single sector of global industry including automotive sector thus, representing a substantial decline in the production of passenger cars and commercial vehicles. With the reduced production of vehicles, the demand for automotive gaskets and seal also decrease thus, hampering the market growth. Moreover, design and installation issues, along with the fluctuating raw material prices are few other factors limiting the growth of the market over the forecast period of 2020-2026.

The regional analysis of global Automotive Gasket & Seals market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-pacific is the leading/significant region across the world in terms of market share owing to the increasing volume of passenger cars and electric vehicles, along with the presence of stringent policies for vehicle safety in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026.

Major market player included in this report are:

AB SKF

Dana Holding Corporation

Federal-Mogul Holdings Corporation

Freudenberg Sealing Technologies (FST)

Flowserve Corporation

Smith Group PLC

Trelleborg AB

Elringklinger AG

Datwyler Holding Inc.

Victor Gaskets India Limited

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product:

Gasket (Metallic, Non-Metallic)

Seals (O-Ring, Rotary, Mechanical, and more)

By Vehicle Type:

Passenger Cars

Commercial Vehicles

Furthermore, years considered for the study are as follows:

Historical year – 2016, 2017, 2018

Base year – 2019

Forecast period – 2020 to 2026

Target Audience of the Global Automotive Gasket & Seals Market in Market Study:

Key Consulting Companies & Advisors

Large, medium-sized, and small enterprises

Venture capitalists

Value-Added Resellers (VARs)

Third-party knowledge providers

Investment bankers

Investors

For More Details on this report@ https://www.marketstudyreport.com/reports/global-automotive-gasket-seals-market-size-research?utm_source=marketwatch.com&utm_medium=ADS

Related Report:

Global COVID Impact on Electric Vehicle Market Size study, by Type (Battery Electric Vehicles (BEV), Hybrid Electric Vehicles (HEV), Plug-in Hybrid Electric Vehicles (PHEV)), by Vehicle Class (Mid-Priced, Luxury), by Vehicle Type (Two-wheelers, Passenger Cars, Commercial Vehicles) and Regional Forecasts 2020-2026

Global COVID Impact on Electric Vehicle Market is valued approximately at USD 162 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 22.6% over the forecast period 2020-2026. An electric vehicle (EV) runs on electricity contrasting its counterpart, that functions on fuel. As opposed to internal combustion engine, these vehicles operate on an electric motor that involves continuous supply of energy from batteries. Electric vehicles are mainly intended to replace typical ways of travel as they cause environmental pollution. The vehicles are powered either through a collector system with the help of electricity from charging stations or can be charged by self-charging devices like turbochargers and regenerative braking systems. However, the COVID-19 outbreak poses a great challenge to the global automobile industry as there is lockdown in several countries, due to which production of electric vehicles is restricted.

For More Details on this report@ https://www.marketstudyreport.com/reports/global-covid-impact-on-electric-vehicle-market-size-research?utm_source=marketwatch.com&utm_medium=ADS

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