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Sealing Strips are used to fill gap between the automobile body top and reinforced beams, and the effect of sealing and damping. It ensures safety of passengers and interior compartment from rain, dust & other elements. Quality of Sealing Strip is very important as it loses its grip with age. Automotive Sealing Strip Market is valued at USD 12484.61 million in 2019 and expected to show steady growth rate in upcoming years. Sealing Strips are one the must have feature / part of automobile with massive expansion of Automotive industry globally Automotive Sealing Strip Market has also shown impressive growth.
Research report on Automotive Sealing Strip Market considers Ethylene Propylene Diene Monomer (EPDM), Thermoplastic elastomers (TPE), Polyvinyl chloride (PVC) as primary materials used in manufacturing of these strips. In-detail analysis across each of these materials type is very important to understand their market revenue, volume & growth. Ethylene Propylene Diene Monomer (EPDM) is most commonly used material in manufacturing of these strips. EPDM is extremely durable and delivers quality resistance against dust, rain & air. It has age resistance properties that make it highly demandable material for Automotive Sealing Strip. EPDM material market covers around 61 % of total market share in 2019. TPE and PVC material market also expected to show impressive growth in upcoming years.
Competitive analysis is very important segment of the research study as it delivers key companies revenue, growth rate, strategies & recent developments. Automotive Sealing Strip manufacturers are facing very steady growth in market primarily due to deceased sell of automobiles since last quarter of 2017. Automobile industry struggle further deepen due to Covid 19 pandemic, some the major manufacturers are seen drop of around 82 % in sell from March 2020. Apart from the recent pandemic, increasing competition is also major challenge for established manufacturers. Manufacturers are using advance technology & innovation to come up with more quality Sealing Strips.
Automotive Sealing Strips are most integral part of almost all the vehicles. Passenger Car, Light commercial Vehicle (LCV), and Heavy Commercial Vehicles (HCV) are broad segments considered in the research study for application analysis. Passenger Car segment is largest and fastest growing segment with around 43 % of market share followed by HCV and LCV respectively. HCV segment has shown impressive growth rate since 2015 and expected to continue during forecasted period. Passenger car market is valued almost USD 1572.33 billion in 2019 and estimated to show steady CAGR of around 3 % between 2020 to 2027. Rising disposable income and hence buying power along with more inclination towards healthy lifestyle are primary drivers for growth of Automotive Sealing Strips Market.
Automotive Sealing Strip Market is analysed for North America, Europe, Asia Pacific, Middle East, South America, and Africa & Rest of the World. Geographical analysis helps user to figure out most lucrative market to develop better business strategies. Asia Pacific is market leader with around with around 54 % of market share in 2019. Massive industrial expansion, around 62 % of global population and rising income are prime reasons for market growth. North America market is second largest followed by Europe. Middle East, South America & Africa market is rapidly growing due to increase in demand and establishment of new manufacturing plants.
Research study has extensively worked on supply-demand analysis that has become important parameter in Automobile industry. Supplier analysis helps to understand supply- demand scenario that certainly helps designed better manufacturing process. Analytical tools used while developing research studies include Porter's 5 Forces model, PESTAL analysis, SWOT analysis, market sizing. Opportunities and threat analysis has gained significant importance in recent years primarily due to dynamic nature of Automobile industry.
Global Automotive Sealing Strip Market : Material Type
Global Automotive Sealing Strip Market: Application
Global Automotive Sealing Strip Market : Competitive Analysis
Report includes accurate analysis of key players with Market Value, Company profile, SWOT analysis. The Study constitutes of following key players in Global Automotive Sealing Strip Market :
Geographical analysis of Global Automotive Sealing Strip Market :
Global Automotive Sealing Strip Market Report delivers comprehensive analysis of :
Global Automotive Sealing Strip Market Report delivers comprehensive analysis of :
| Parameters | Details |
|---|---|
Base Year | 2022 |
Historical Data | 2017-2022 |
Forecast Data | 2023-2029 |
Base Year Value (2022) | USD 14165.37 million |
Forecast Value (2029) | USD 19020.3315 million |
CAGR (2022 to 2028) | 4.3 % |
Regional Scope | North America, Europe, Asian Pacific, Latin America, Middle East and Africa, and ROW |
Automotive Sealing Strip Market was valued at around USD 14165.37 million in 2022 & estimated to reach USD 19020.3315 million by 2029.
Automotive Sealing Strip Market is likely to grow at compounded annual growth rate (CAGR) of 4.3% between 2023 to 2029.
Yes, the report includes COVID 19 impact on the market.
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