Research study and Markets (http://www.researchandmarkets.com/research/f8g2q8/automotive_gasket) has announced the addition of the Automotive Gasket Seal Market by Item Type (Gasket, Metallic Gasket, Non Metallic Gasket, Seals, Mechanical Seals, O Ring Seals, Lip Seals Rotary Seals), Car Type (PC, LCV HCV), by Location – Worldwide Projection Analysis to 2020 report to their providing.
The international vehicle gasket and seal market approximated a market value of around $ 8,877.5 million by 2015 and poised to reach $12,362 Million by 2020 at a CAGR of 6.85 % from 2015-2020.
The automobile gaskets and seals are utilized in lots of assemblies of a car for filling the gap in between two parts to guarantee that there is no leakage in between them throughout the compression stage. With increasing concern over ecological changes, the automobile industry is establishing new and better parts to push fuel-efficiency of cars. The leading suppliers in vehicle gasket and seal market have concentrated on creating efficient gaskets and seals made from high-quality material, produced to withstand high heat and pressure. The increase in overall automobile production throughout the world and growing fuel-efficiency norms in establishing nations are the major elements that is anticipated to drive the marketplace of vehicle gasket and seal in the next 5 years.
In Asia-Pacific and North America, the automotive gasket and seal market is growing at a noteworthy rate, following the growing demand of light and heavy cars in countries such as China, the US, and India. Many renowned OEMs are broadening their footprints in these areas. On the other hand, the European region is a highly advanced market in terms of technology and the automotive gasket and seal market is forecasted to grow at moderate rate. However, Eastern Europe is a potential market, offered the increasing car production and need for fuel-efficient cars.
The worldwide automotive gasket and seal market is dominated by significant players such as Dana Corporation (US), AB SKF (Sweden), Flowserve Corporation (US), Federal-Mogul (United States), and Smiths Group PLC (UK)
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