Overview and Scope
Automotive gaskets and seals refer to components that are utilized between rotating engine parts, pumps, and shafts and are employed as static seals whenever a union or flange is needed to prevent leakage, as opposed to gaskets, which seal connections between two components or flanges with flat surfaces. Gaskets are usually used as static seals to seal a connection between two components that have flat surfaces, whereas seals are used between engine parts that rotate. Both gaskets and seals offer high flexibility, reliability, strength, and resistance to extreme heat. They can also sustain extreme pressures, compressive loads, and temperature variations.
Sizing and Forecast
The automotive gaskets and seals market size has grown strongly in recent years. It will grow from $17.26 billion in 2023 to $18.43 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to growth in automotive industry, aging vehicle fleet, regulatory compliance, rise in demand for automotive maintenance and repairs, economic growth.
The automotive gaskets and seals market size is expected to see strong growth in the next few years. It will grow to $24.35 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to increasing vehicle complexity, rise in autonomous vehicles, increasing adoption rate of electric vehicles, increasing demand for fuel efficient and environment-friendly vehicles, rise in disposable income. Major trends in the forecast period include sustainability and green sealing solutions, advanced materials adoption, customization and 3d printing, digital twin technology.
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Segmentation & Regional Insights
The automotive gaskets and seals market covered in this report is segmented –
1) Automotive Gaskets And Seals Market By Material: Fiber, Graphite, PTFE, Rubber, Silicones
2) Automotive Gaskets And Seals Market By Product Type: Gaskets, Seals
3) Automotive Gaskets And Seals Market By End Use: Automotive, Aerospace, Machinery, Electronics & Electrical, Marine & Rail
Top Major Players
Abbott Nutrition
Bellamy Organics
Danone SA
Hero MotoCorp
Mead Johnson & Company LLC
Asia-Pacific was the largest region in the automotive gaskets and seals market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive gaskets and seals market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The increase in demand for electric vehicles is driving the automotive gaskets and seals market. Gaskets and seals are used in many EV applications such as battery packs to provide environmental sealing and insulation. For instance, in June 2022, according to the United States Department of Energy (DOE), a US-based government agency, the total number of electric vehicle registrations in the United States was 1.45 million, with California accounting for approximately 563,070 registrations of light-duty electric vehicles, representing 39% of EVs nationwide in 2021. The next-greatest number was in Florida, followed by Texas. Therefore, the rapidly growing demand for electric vehicles is supporting the growth of the automotive gaskets and seals market.
Key Industry Players
Major companies operating in the automotive gaskets and seals market include Freudenberg Co., Elringklinger Silicon Valley Inc., Dana Holding Corporation, Svenska Kullagerfabriken AB, Trelleborg AB, Federal-Mogul Corporation, Flowserve Corporation, Custom Gasket Manufacturing, Arizona Sealing Devices Inc., Economy Die & Gasket Inc., Gasket Express, Sealing Specialties Inc., XTO Inc., New Process Fibre Company Inc., CGR Products Inc., RD Rubber Technology Corporation, PDI Gaskets & Seals, Mercer Gasket & Shim, Phelps Industrial Products LLC, REDCO Rubber Engineering & Development Company, Kent Rubber Supply Co., MAHLE Aftermarket Inc., Interface Performance Materials, Garlock Sealing Technologies, James Walker Ltd., Flexitallic Ltd., Teadit Pvt. Ltd., Lamons Manufacturing & Service Co., Klinger Limited, Henniges Automotive
The automotive gaskets and seals market report table of contents includes:
1. Executive Summary
2. Automotive Gaskets And Seals Market Characteristics
3. Automotive Gaskets And Seals Market Trends And Strategies
4. Automotive Gaskets And Seals Market – Macro Economic Scenario
5. Global Automotive Gaskets And Seals Market Size and Growth
…..
32. Global Automotive Gaskets And Seals Market Competitive Benchmarking
33. Global Automotive Gaskets And Seals Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Automotive Gaskets And Seals Market
35. Automotive Gaskets And Seals Market Future Outlook and Potential Analysis
36. Appendix
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