Automotive rubber seal market to hit $14.5 billion in 2022, TechSci Research says

Jan. 29, 2018
Rising demand for rubber seals from OEMs, growing rubber seal sales in the replacement market and increasing use of passenger cars in developing countries will spur the growth.

According 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.
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.
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, the report said.
“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.

Get  more information at http://bit.ly/2sXRHLz.

Subscribe to Aftermarket Business World and receive articles like this every month….absolutely free. Click here.

Sponsored Recommendations

ZEUS+: The Cutting-Edge Diagnostic Solution for Smart, Fast, and Efficient Auto Repairs

The new ZEUS+ simplifies your diagnostic process and guides you through the right repair, avoiding unnecessary steps along the way. It gives you the software coverage, processing...

Diagnostic Pre- and Post-scan Reports are Solid Gold for Profitability

The following article highlights the significance of pre-scans and post-scans, particularly with Snap-on scan tools, showcasing their efficiency in diagnosing issues and preventing...

Unlock Precision and Certainty: TRITON-D10 Webinar Training for Advanced Vehicle Diagnostics

The TRITON-D10 lets you dig deep into the systems of a vehicle and evaluate performance with comparative data, systematically eliminating the unnecessary to provide you with only...

APOLLO-D9: Trustworthy Diagnostics for Precision Repairs

The APOLLO-D9 provides the diagnostic information and resources you need to get the job done. No more hunting through forums or endlessly searching to find the right answers. ...

Voice Your Opinion!

To join the conversation, and become an exclusive member of Vehicle Service Pros, create an account today!