London, 27 October 2015: Technavio, the independent tech-focused global research firm, has published a report on the global automotive seals market 2015-2019, which is expected to grow at a CAGR of 3.79% during the forecast period of 2014-2019.
The growth in the automotive seals market is attributed to increasing auto sales, especially in the passenger car segment, which is expected to contribute the majority of revenues. The higher automotive and components production in emerging markets such as China, India, and Mexico will also drive demand in the automotive seals market.
“There has been a shift in the manufacturing process of seals from compression molding to injection molding. Injection molding has become the preferred option for manufacturing seals with complex designs,” says Faisal Ghaus, Vice President of Technavio.
“Seals that are being developed today are intended for specific application and needs, and OEMs are demanding seals with more reliability, longer life, and increased performance.”
Key Market Drivers
- Increasing importance of seals in vehicles
- Technological advancements
- Implementation of stricter fuel efficiency standards for medium- and heavy-duty vehicles
Key Market Trends
- Increasing use of thermoplastic elastomers in door seals
- Manufacturing of high-performance and efficient seals
- Shift from conventional compression-molded seals to injection-molded seals
Key Market Vendors
- SKF
- Trelleborg
- Freudenberg Sealing Technologies
- Dana Holding
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
If you are interested in more information on this topic and our upcoming research on the Global Automotive Seals Market 2015-2019, please send an e-mail to media@TechNavio.com.
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