Advancement in the Automobile Technology Propelling the Growth of Automotive Engine Gaskets Market
According to a new report published by Reports Monitor titled, “Global Automotive Engine Gaskets Market, Growth Opportunities, Innovations and Forecast, 2017-2025,” the Automotive Engine Gaskets Market was valued at XX million in 2016, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2017 to 2025.
Automotive Engine Gaskets is an mechanical seal which fills the two faces of components primarily to avoid leakage of fluid and air in the automobile and other hydraulic systems. It is normally made up of flat materials such as paper, rubber, silicone, metal, rubber and plastic. Excellent ability to withstand higher compression loads forms the major property, thereby increasing the demand in the automotive sector.
Continuous innovation in the automotive sector has resulted in raising the demand for vehicles, thereby fuelling the market growth. Increased quality in the vehicles manufactured has been playing a significant role in increasing the lifespan of the vehicles, hence contributing in market growth. However, continuous growth in the electric vehicle market may result in hampering the market growth.
This report provides a detailed analysis of Automotive Engine Gaskets market, which includes current industry situations such as market size, growth and demands, market outlook, major players with their key strategies such as investment, mergers and acquisitions, value chain analysis and porter’s analysis. It covers the market canvas and the growth opportunities in the coming years. The report has been made with an in-depth analysis along with important inputs from the various industry experts. The research is carried out with both extensive primary and secondary data sources and with bottom-up and top-down approaches.
The Automotive Engine Gaskets market is majorly segmented on the basis of product type and vehicle type. Depending upon the product type, market is segmented into: gaskets and seals, while based on the vehicle type, market is bifurcated into: passenger vehicles, commercial vehicles and heavy commercial vehicles.
Asia Pacific is expected to witness a fast growth mainly owing to the increased demand of vehicles in the countries such as India, China and Japan. Moreover the expansion in the manufacturing sector in India has also contributed in the market growth, while North America and European regions is projected to show a stable growth mainly due to the increased investment in the research and development and well established infrastructure The main regions analyzed in the market are: North America, Europe, Asia Pacific and LAMEA (Latin America, Middle East and Africa).
The key players of global Automotive Engine Gaskets market are: AB SKF, Dana Holding Corporation, Federal-Mogul Holdings Corporation, Freudenberg Sealing Technologies Gmbh & Co. Kg, Flowserve Corporation, Smith’s Group PLC, Trelleborg AB, Elringklinger AG, Datwyler Holding Inc., Victor Gaskets India Limited.
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