New York, NY -- (SBWire) -- 02/05/2021 --Gaskets and seals are the major constituents that are largely used in automobiles for avoiding leakage of any fluid and gases. These constituents are used to fill up the gaps between the automotive components for ensuring zero or no leakage. It has its applications in engine, transmission, steering, and batteries. Automotive gaskets are of two types, metallic gaskets and non-metallic gaskets, whereas seals are of four types, mechanical seals, lip seals, rotary seals, and O-ring seals. The automotive gaskets and seals market is estimated to witness significant growth in terms of value during the forecast period.
The major manufacturers in the market are
Boyd Corp
Blue Diamond technologies
Dana Holding
Federal-Mogul
Elring Klinger
SKF
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Market Drivers
The market is propelled due to the increased production of electric vehicles that is majorly driven by the government initiatives towards eco-friendly and zero-emission vehicles. The market is also boosting due to increased awareness in the population regarding the gaskets and seals. Technological advancements are playing a vital role in the growth of the automotive gaskets and seals market. The market is restrained due to the high cost of the raw materials.
Segmentation based on vehicle type:
Passenger cars
Commercial vehicles
Segmentation based on product:
Gasket
Non-Asbestos Gasket
Rotary Seal
Lip Seal
Metallic Gasket
Spiral Wound Gasket
Cork Gasket
Seals
Mechanical Seal
Ring Joints Gasket
O-ring seal
Other Seals
Segmentation based on material:
Silicone Gasket
Rubber Gasket
Polytetrafluoroethylene (PTFE)
Fiber
Graphite
Other Materials
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Regional Analysis
On the basis of regional terminology, the market is distributed amongst North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific region held the largest market share in terms of revenue and is estimated to witness significant market growth during the forecast period. The market growth in this region is propelled by the growing population and increased demand and sales of electric vehicles. Market growth is also driven by the increased sales of vehicles globally.
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The latest research report performs qualitative and quantitative analyses of the global Automotive Gaskets and Seals market based on a wide array of economic and non-economic factors.
The report presents an accurate study of the leading regional segments and estimates their respective market growth rates over the projected timeline.
The latest report thus endows the reader with a deep understanding of the Automotive Gaskets and Seals market's competitive landscape, incorporating the market ranking of the key market players, their new product launches, and several other business expansion policies.
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Automotive Gaskets and Seals Market Share, Future Growth and Opportunity Assessment 2020 – 2025 : Boyd Corp, Blue Diamond Technologies, Dana Holding, Etc.
The study methodologies used to examine Automotive Gaskets And Seals Market for the forecast period, 2020 - 2025 further classifies the industry by type, geography, end-use and end-user to add more precision and bring to light factors responsible for augmenting business development.