Automotive gaskets have been classified as metallic gaskets and non-metallic gaskets; whereas automotive seals have been segmented as mechanical seals, O-rings seals, lip seals, and rotary seals. Over a period of time, technological advancements have made automotive gasket and seal safer and more effective. The materials used in gasket fabrication have improved over the time; silicone rubber has become a preferred material for gaskets and seals. The lightweight components in automobiles are sealed through high-strength gaskets and seals to endure high heat and pressure. This indirectly helps in improving fuel-efficiency of vehicles with increasing use of lightweight materials in vehicles. The growing demand of fuel-efficient vehicles, coupled with the increasing global production volume of light and heavy vehicles is expected to trigger the demand for automotive gaskets and seals in the next five years (2015-2020). The global automotive gasket and seal market size in terms of volume is projected to reach 1,088,455.3 thousand units, generating a total estimated market value of around $ 8,877.5 million, by 2015. In 2015, the penetration of automotive gaskets and seals are estimated to be the highest in the Asia-Pacific region, followed by North America, Europe, and RoW. Increase in overall vehicles production across the globe and growing fuel-efficiency norms in developing countries are major factors fuelling growth in the automotive gasket and seal market. The automotive gasket and seal market has witnessed positive growth in developing countries along with developed ones. The global automotive gasket and seal market, in terms of value, is projected to grow at a CAGR of 6.85% from 2015–2020. The automotive gasket and seal market of Asia-Pacific and North American regions are growing at a noteworthy rate; whereas the European market to grow at a decent rate in the next five years. This report classifies and defines the automotive gasket and seal in terms of volume and value. It provides comprehensive analysis and insights into the automotive clutch market (both qualitative and quantitative). The report highlights potential growth opportunities during the forecast period and reviews the drivers, restraints, growth indicators, challenges, legislation trends, market dynamics, Porter’s five-force analysis, competitive landscape, and other key aspects of the automotive gasket and seal market. Key players in this market are Dana Corporation (U.S.), AB SKF (Sweden), Flowserve Corporation (U.S.), Federal-Mogul (U.S.), Smiths Group PLC (U.K.), Trelleborg AB (Sweden), Elringklinger AG (Germany), Freudenberg Sealing Technologies GmbH & Co. KG (Germany), Datwyler (Switzerland), and Victor Gaskets India LTD (India). The global Automotive Gasket and Seal Market estimated a market value of around $ 8,877.5 million by 2015 and poised to reach $12,362 Million by 2020 at a CAGR of 6.85% from 2015–2020. The automotive gaskets and seals are used in many assemblies of a vehicle for filling the gap between two components to ensure that there is no leakage between them during the compression stage. With increasing concern over environmental changes, the automotive industry is developing new and improved components to push fuel-efficiency of vehicles. The top suppliers in automotive gasket and seal market have focused on designing effective gaskets and seals made from high-quality material, fabricated to endure high heat and pressure. The increase in overall vehicle production across the globe and growing fuel-efficiency norms in developing countries are the major factors that is expected to drive the market of automotive gasket and seal in the next five years. In Asia-Pacific and North America, the automotive gasket and seal market is growing at a noteworthy rate, following the growing demand of light and heavy vehicles in countries such as China, the U.S., and India. Many renowned OEMs are expanding their footprints in these regions. On the other hand, the European region is a highly sophisticated market in terms of technology and the automotive gasket and seal market is projected to grow at moderate rate. However, Eastern Europe is a potential market, given the increasing vehicle production and demand for fuel-efficient vehicles. The global automotive gasket and seal market is dominated by major players such as Dana Corporation (U.S.), AB SKF (Sweden), Flowserve Corporation (U.S.), Federal-Mogul (U.S.), and Smiths Group PLC (U.K.) Source:https://www.marketsandmarkets.com/Market-Reports/automotive-gasket-seal-market-66737065.html
