Press Release

Automotive Gasket and Seals Market to Witness Growth at 7% CAGR

Increasing environmental concern, growing emphasis on the efficient design and aggressive technological advancement, to drive the Global Automotive Gasket and Seals Market through 2023

According to TechSci Research report, Global Automotive Gasket & Seal Market, By Product Type (Gasket Vs Seal), By Vehicle Type (Passenger Car, Light Commercial & Heavy Commercial), Competition Forecast & Opportunities, 2013 – 2023’’, Global automotive gasket & seal market is projected to grow at a CAGR of over 7%, in value terms, during 2018-2023. Growing demand for passenger car, increasing automotive production, growing adoption of the renewable sources of energy, requirement for replacement in industrial sector and rapidly evolving competition scenario are some factors, will propel the demand for automotive gasket & seal over the next five years. Further, the growing demand for fuel-efficient vehicles is anticipated to drive the growth of the market in the next five years.

Moreover, the advancements in car engine designs is expected to drive the growth of the Global Automotive Gasket and Seals market during forecast period. The advanced car engines require engine gaskets that are vital for engine performance as they work as a seal for maintaining pressure, hold fluids and prevent any residue or debris to enter the engine. Additionally, the growing investments in R&D of development of suitable materials are anticipated to drive the growth of the market by 2023.

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 Based on gasket type, the the Global Automotive Gasket and Seals is segmented into Metallic Gaskets and Non-Metallic Gaskets. The Metallic gasket segment is anticipated to grow at a very high CAGR during the forecast period, owing to increasing use of metallic head gaskets to seal cylinders for enabling maximum compression and prevent any leakage of engine oils or sealants in the cylinders.

Dana Limited, Federal-Mogul Corporation, Trelleborg AB, Datwyler, Elringklinger AG, SKF AB etc, are major companies operating in Automotive Gasket and Seals, globally.

APAC is anticipated to remain a strong contributor in the automotive gasket & seal market in the forecast period, owing to increase demand for light and heavy vehicles in the region. APAC is expected to register high growth during the forecast owing to increasing vehicle demand, production of fuel-efficient vehicles. Moreover, factors such as flourishing automotive sector, increased vehicular sales and the presence of major automotive manufacturers in the region is expected to drive the growth of the market by 2023.

“Growing fuel efficiency regulations, technological advancements in engine design and the increasing use of lightweight components in vehicles are likely to drive the growth of the market in the coming years. Moreover, the increasing investments in the research and development of advanced materials for the manufacture of gaskets and seals will drive the Automotive Gasket and Seals market through 2023.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Global Automotive Gasket & Seal Market, By Product Type (Gasket Vs Seal), By Vehicle Type (Passenger Car, Light Commercial & Heavy Commercial), Competition Forecast & Opportunities, 2013 – 2023” has evaluated the future growth potential of Global Automotive Gasket and Seals market and provides statistics and information on market size, structure and future market growth. The report offers decision makers superior market intelligence, thereby enabling them conduct thorough investment appraisal. Besides, the report also analyzes the evolving market inclinations along with indispensable drivers, challenges and opportunities in Global Automotive Gasket and Seals Market.

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Relevant Reports

Global Automotive Gasket & Seal Market, By Product Type (Gasket Vs Seal), By Vehicle Type (Passenger Car, Light Commercial & Heavy Commercial), Competition Forecast & Opportunities, 2013 – 2023

Automotive | Mar, 2018

Increasing environmental concern, growing emphasis on the efficient design and aggressive technological advancement is expected to drive global automotive gasket & seal market through 2023.

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