Market Insight: Cylinder Head Gasket Market, Electric Vehicle Supply Equipment Market & Electric Motor for Vehicle Market forecasted for period from 2023 - 2030

SEATTLE, WASHINGTON, USA, June 26, 2023/EINPresswire.com/ --

The Cylinder Head Gasket Market is expected to grow from USD 102.00 Million in 2022 to USD 138.80 Million by 2030, at a CAGR of 4.50% during the forecast period. The main findings of the report suggest that the Cylinder Head Gasket market is poised for steady growth owing to the increasing demand from the automotive and industrial sectors. The adoption of new materials and technologies is expected to drive the revenue growth of the market. However, the market also faces several challenges that need to be addressed to ensure sustained growth. The report recommends that manufacturers focus on developing environment-friendly and lightweight materials, invest in R&D to develop advanced technologies, and adopt effective measures to counter the threat posed by counterfeit products.

The cylinder head gasket market is highly competitive, with several companies vying for market share. Some of the leading companies operating in this market are ElringKlinger, Federal-Mogul (Tenneco), Nippon Gasket, Dana, NOK, Yantai Ishikawa Sealing Technology, Nippon Leakless Corp, NICHIAS Corporation, Sanwa Packing Industry, Ajusa, Uchiyama Manufacturing Corp, Kokusan Parts Industry, Freudenberg, and Jayem Auto Industries. The above-listed companies use the cylinder head gasket market to cater to the demand for engine components and sealing systems. They help to grow the cylinder head gasket market by offering innovative products that cater to the evolving needs of customers.

In terms of sales revenue, ElringKlinger had a revenue of €1.7 billion in 2020. Federal-Mogul's revenue was $4.3 billion in 2019. Nippon Gasket's revenue was ¥31.9 billion in 2019.

The cylinder head gasket is a crucial component that seals the engine block and cylinder head, ensuring that there is no leakage of gases, water, or oil into the engine's combustion chamber. There are three primary types of cylinder head gaskets- metal gaskets, non-metal gaskets, and composite material gaskets. Metal gaskets feature a design that incorporates multiple layers of steel, copper, and other metals, which enhance their durability, heat resistance, and ability to withstand high pressure. Non-metal gaskets, on the other hand, are made of cork, rubber, or silicone and are typically used in low-compression engines. Composite material gaskets are made of a combination of various materials like fiber, graphite, or both that provide high-temperature resistance and superior sealing properties.

The cylinder head gasket is an essential component in serving as a seal between the cylinder head and the engine block. It plays a critical role in preventing engine oil, coolant, and combustion gases from escaping into the wrong channel. Cylinder Head Gaskets are commonly used in passenger cars and commercial vehicles where the internal combustion engine is used as a power source. These gaskets are used to ensure the efficient running of the engine through maintaining the engine's compression, sealing oil, water, and coolant passages.

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The Electric Vehicle Supply Equipment Market is expected to grow from USD 2.80 Billion in 2022 to USD 16.50 Billion by 2030, at a CAGR of 28.90% during the forecast period. The Electric Vehicle Supply Equipment (EVSE) market is rapidly expanding, driven by the demand for electric vehicles (EVs) and associated infrastructure. The EVSE market comprises a range of charging stations, including level 1, level 2, and level 3 chargers, which vary in power output and charging time. The market is segmented into residential, commercial, and public charging stations and is further divided by AC and DC charging.

The primary driver of revenue growth for the EVSE market is the adoption of electric vehicles globally. With governments, municipalities, and corporations increasingly focusing on reducing the carbon footprint of transportation, the demand for electric vehicles is expected to rise steadily in the coming years. This trend has led to a surge in the sales of EVs and, consequently, the demand for EV charging infrastructure.

The growth in the electric vehicle supply equipment market can be attributed to the increasing demand for electric vehicles, developments in charging infrastructure, and supportive government policies. In addition, advancements in technology and the availability of reliable and efficient charging solutions are further driving the growth of this market. The Asia-Pacific region is expected to dominate the electric vehicle supply equipment market in terms of market share and valuation. This can be attributed to the increasing adoption of electric vehicles, government initiatives to promote and support EVs, and favorable policies and regulations.

The market share of the electric vehicle supply equipment market is expected to be the highest in the Asia-Pacific region, followed by North America and Europe. The Asia-Pacific region is expected to capture around 50% of the market share, with China, Japan, and South Korea being the major players driving growth in the region. North America and Europe are expected to capture around 30% and 20% of the market share, respectively.

The global electric vehicle supply equipment (EVSE) market is highly competitive with many established players and emerging companies operating in the market. The major players in the market are BYD, Shinry, TC Charger, Panasonic, Webasto, Toyota Industries, Nichicon, Leviton, IES Synergy, Auto Electric Power Plant, Pod Point, Clipper Creek, Xuji Group, Eaton, Schneider Electric, Siemens, DBT-CEV, ABB, Efacec, and NARI. The global EVSE market size is expected to grow at a CAGR of 32.3% from 2020 to 2025, reaching $140.0 billion by 2025. Companies like ABB, Efacec, and NARI are anticipated to be among the major players driving the growth of the market.

Sales revenue figures for some of the companies mentioned above are:

- ABB - $28.64 billion (2020)
- Schneider Electric - €27.2 billion (2020)
- Siemens - €57.1 billion (2020)

AC charging refers to the type of Electric Vehicle Supply Equipment that uses Alternating Current to charge the battery of the electric vehicle. AC charging is more common in residential areas and parking lots of commercial and public buildings. AC charging requires a charging cable that connects the vehicle to the charging station and can take hours to fully charge the electric vehicle depending on the battery size.

Electric Vehicle Supply Equipment (EVSE) is critical infrastructure for electric vehicle (EV) charging. Residential charging involves EVSE installations in homes, apartments, and private garages for providing charging to EVs at home. Public charging includes EVSE installations in commercially accessible spaces such as malls, parking lots, and stations for EVs requiring a top-up while on the go. EVSE is used to connect the EV to the power grid, manage the charging process, and provide feedback on the charging status. The latest EVSEs models are equipped with advanced features, such as real-time monitoring and control of charging sessions via a mobile application, which improves user convenience and security.

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Electric Motors for Vehicles are a crucial component of electric vehicles, enabling them to move without combustion engines. Due to the rising demand for environmentally friendly automobiles, the market for electric motors for vehicles is anticipated to expand rapidly. Government regulations, low operations and maintenance costs, and rising environmental concerns are some of the primary market drivers. The need for electric motors is being further fueled by the rising popularity of electric and hybrid automobiles. At a CAGR of 30.60% over the forecast period, the market for electric motors for vehicles is anticipated to increase from USD 8.10 billion in 2022 to USD 52.80 billion by 2030. Tesla Inc., Bosch Limited, Continental AG, Denso Corporation, and Siemens AG are important market participants.

The Asia Pacific region is expected to dominate the Electric Motors for Vehicles market in the coming years. This dominance can be attributed to increased consumer demand for electric vehicles and supportive government initiatives promoting the adoption of electric vehicles in countries like China, Japan, and India. The market share percentage valuation for the Asia Pacific region is estimated to be approximately 40.7%.

Apart from Asia Pacific, North America and Europe are also expected to be significant contributors to the Electric Motors for Vehicles market. The market share percentage valuation for North America is estimated to be around 28.3% while that of Europe is estimated to be 25.6%. The growth of the Electric Motors for Vehicles market in these regions can be attributed to the rising consumer awareness and demand for eco-friendly and fuel-efficient vehicles.

Other regions like the Middle East, Africa, and South America are also expected to witness significant growth in the Electric Motors for Vehicles market, although their market share is estimated to be relatively smaller at approximately 5.4%, 0.2%, and 0.2%, respectively. However, the demand for electric vehicles in these regions is expected to increase in the coming years due to rising environmental concerns and increasing government initiatives promoting the adoption of electric vehicles.

The global electric motors for vehicles market is highly competitive, with players vying to capture a significant market share. The market comprises several established players, including Tesla, Volkswagen, BYD, ZF, Bosch, Hasco, Broad-Ocean Motor, Mitsubishi, XPT, Nidec, Zhejiang Founder, Magna, JJE, Hitachi, Shuanglin, Chery New Energy, and JEE.

In terms of revenue figures, Tesla reported a total revenue of $31.54 billion in 2019, while Volkswagen reported a revenue of €252.6 billion in the same year. BYD reported a revenue of ¥128.6 billion in 2019, while ZF reported a revenue of €36.5 billion.

Overall, these companies are instrumental in driving growth in the global electric motors for vehicles market by offering innovative products, investing in research and development, and expanding their presence in key markets. As the market continues to evolve and grows, it is expected that these companies will play an increasingly critical role in shaping its future.

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Amrita Pandey
Prime PR Wire
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