What latest technology is helping Automotive Gaskets And Seals Market Players accelerate the development process? As Per TBRC's Automotive Gaskets And Seals Global Market Report 2022
TBRC’s market research report covers automotive gaskets and seals market size, automotive gaskets and seals market forecasts, major automotive gaskets and seals companies and their market share, key strategies to undertake, and more.
LONDON, March 24, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the automotive gaskets and seals market, 3D printing for manufacturing is increasingly gaining popularity among the automotive gaskets and seals industry trends. 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 to identify design faults and accelerate the development process.
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The global automotive gaskets and seals market size is expected to grow from $15.22 billion in 2021 to $15.99 billion in 2022 at a compound annual growth rate (CAGR) of 5.08%. The growth in the market is mainly due to the companies' rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The automotive gasket and seal market is expected to reach $19.66 billion in 2026 at a CAGR of 5.30%.
Increasing demand for electric vehicles is driving the market as per the automotive gaskets and seals market growth analysis. Gaskets and seals are used in many EV applications, such as battery packs, to provide environmental sealing and insulation. As of 2020, there were 10 million electric vehicles on the roads globally. In 2020, global electric car sales reached about 3 million, with new electric car registrations increasing by 40%. Therefore, the rapidly growing demand for electric vehicles is supporting the growth of the automotive gaskets and seals market.
Major players in the automotive gaskets and seals market are Freudenberg, Elringklinger, Dana, SKF, Trelleborg, Tenneco (Federal-Mogul), and Flowserve Corporation.
The global automotive gaskets and seals market outlook is segmented by material into fiber, graphite, PTFE, rubber, silicones; by product type into gaskets, seals; by end-use into automotive, aerospace, machinery, electronics and electrical, marine and rail.
Asia-Pacific was the largest region in the automotive gaskets and seals market in 2021. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive gaskets and seals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Automotive Gaskets And Seals Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide automotive gaskets and seals market overviews, analyze and forecast market size and growth for the whole market, automotive gaskets and seals market segments and geographies, automotive gaskets and seals market trends, automotive gaskets and seals market drivers, automotive gaskets and seals market restraints, automotive gaskets and seals market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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