RAIPUR, India, Dec. 15, 2021
RAIPUR, India, Dec. 15, 2021 /PRNewswire/ -- Stratview Research announces the launch of a new research report on Automotive Specialty Gaskets Market by Vehicle Type (Passenger Car, Light Commercial Vehicle, and Medium- & Heavy-Duty Commercial Vehicle), by Material Type (Metallic Gaskets, Elastomeric Gaskets, Composite Gaskets, and Other Gaskets), by Application Type (Inlet Section, Central Engine System, Exhaust Section, Transmission System, Battery, and Others), by End-User Type (OE and Aftermarket), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2021-2026.
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today's automotive specialty gaskets market realities and future market possibilities for the forecast period of 2021 to 2026. The report segments and analyses the market in the most detailed manner in to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of low-hanging fruits available in the market as well as formulate growth strategies.
Automotive Specialty Gaskets Market: Research Highlights
Specialty gaskets include all types of gaskets used in the automotive industry other than cylinder head gaskets. It is a flexible sealing system that helps prevent leakages, maintain internal pressures, and block the intrusion of foreign materials such as, dirt and pollutants. With the increasing demand for lightweight materials in the automotive industry with a sole aim to improve fuel efficiency and reduce carbon emissions, the demand for highly efficient, robust, and reliable gaskets is evolving that meet the requirements of modern automotive engines & systems. With technical advancements, gaskets now provide a cost-effective way to improve fuel efficiency paired with lowering repair and maintenance costs, extending the average life span of vehicle components.
Until 2017, the automotive industry was seeing healthy expansion. Following that, the industry had a severe downturn in 2018 and 2019, mainly due to the US-China trade war, which resulted in a global economic recession. While a good recovery was projected in 2020, the pandemic hit the industry hard in 2020, causing significant disruption and losses for stakeholders. In 2020, the market for specialty gaskets dropped by -16.0% causing unthinkable loss to the shareholders. The long-term outlook appears to be favorable. The market for specialty gaskets in the automotive industry is expected to grow at a healthy CAGR of 5.6% during 2021-2026, taking the market to US$ 2.3 billion by 2026.
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Based on the vehicle type, despite a drop in 2020, passenger car is predicted to remain the largest as well as the fastest-growing vehicle type in the market during the forecast period. With the increasing production of electric vehicles, there has been an incessant demand for specialty gaskets to protect electric motors from lubricants and to cover battery housings from dirt, moisture, and external environmental conditions.
Based on the material type, metallic gaskets are expected to remain the most dominant material type in the market during the forecast period. Because of their strength, stiffness, and toughness, metallic gaskets are suitable for high-performance applications. Major automobile gasket suppliers are focused on designing cost-effective gaskets made of high-quality materials and built to endure extreme heat and pressure.
Based on the application type, central engine system is expected to remain the larger segment of the market during the forecast period. Stringing vehicle emission standards across the world is enforcing automotive stakeholders to focus on engine downsizing and exhaust gas purification systems. This is increasing the demand for highly efficient engine gaskets that can withstand extreme temperature and pressure conditions.
Based on the end-user type, OE is likely to continue to be the market's larger segment throughout the projection period. High durability and reliability of the gaskets is the major factor behind the dominance of the OE segment in the automotive specialty gaskets market.
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In terms of regions, Asia-Pacific is expected to remain the largest market for automotive specialty gaskets during the forecast period. Asia-Pacific is the leading producer of automobiles with huge production bases in China, Japan, India, Korea, and Thailand. However, North America is projected to witness the highest growth in the automotive specialty gaskets market during the forecast period, mainly driven by the USA.
Key players in the market are Dana Incorporated, ElringKlinger AG, Talbros Automotive Components Ltd., Tenneco Incorporated, Nichias Corporation, Freudenberg Group, Uchiyama Manufacturing Corporation, Yantai Ishikawa Sealing Technology Co., Ltd., Nippon Gasket Co., Ltd., Kokusan Parts Industry Company Limited, and Nippon Leakless Corporation.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
This report studies the automotive specialty gaskets market and has segmented the market in five ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the five ways in which the market is segmented:
Automotive Specialty Gaskets Market, by Vehicle Type
Automotive Specialty Gaskets Market, by Material Type
Automotive Specialty Gaskets Market, by Application Type
Automotive Specialty Gaskets Market, by End-User Type
Automotive Specialty Gaskets Market, by Region
Stratview Research has several high value market reports in the automotive and transportation industry. Please refer to the following link to browse through our reports:
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