Vehicle Sealing Strip Industry volume analysis, size, share and key trends 2019-2027

Posted December 4, 2020 by rohit890

Vehicle Sealing Strip is a rubber material which is used to seal the edges of the vehicle doors, windows, sunroof, windshield and other parts of the vehicle to reduce the noise
Market Overview

Vehicle Sealing Strip is a rubber material which is used to seal the edges of the vehicle doors, windows, sunroof, windshield and other parts of the vehicle to reduce the noise, vibration and also prevents the outside elements such as dust, rain, snow, pests and other elements from entering the vehicles while the vehicle is moving at high speed. Vehicle sealing strips are made of different materials such as rubber, polymer, silicon and other.

Increase in demand for passenger as well as commercial vehicles in several emerging economies across the globe is expecting to be a major factor influencing growth of the global vehicle sealing strip market over the forecast period (2019-2027). The growing demand for passenger vehicles is attributed to increase in purchasing power of middle class population in emerging economies such as China and India. Furthermore, growing demand for electric vehicles across the globe owing to favorable policies put forward by governments of various economies is expected to drive growth of the vehicle sealing strips market over the forecasted period. According to International Energy Agency report, sales of electric vehicles increased by 63 % in 2018 compared with sales of EVs in 2017. Moreover, growing demand for commercial vehicles across the globe is also facilitating growth of the global vehicle sealing strip market.

Furthermore, vehicle sealing strips tend to wear out over a period of time owing to opening and closing of doors, windows and sunroofs. As a result, demand for vehicles sealing strips is expected to grow during the forecasted period (2019-2027).

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Market Dynamics

On the basis of region, the global vehicle sealing strips market is segmented into North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

Asia Pacific region held a dominant position in the global automotive vehicle sealing strips market in 2018, and is projected to retain its dominance throughout the forecast period. Furthermore, passenger vehicles are widely used in Asia Pacific, which is a major factor contributing to the market growth in this region. Moreover, Asia Pacific contributes more than half of the total vehicles produced globally. For instance, according to data provided by Organization Internationale des Constructeurs d'Automobiles (OICA) in 2018, Asia Pacific accounts for around 53% of the vehicles produced globally. Moreover, according to same source (OICA) in 2018, 95 million vehicles were manufactured across the globe, out of which, around 52 million were manufactured in Asia Pacific, owing to which demand for vehicle sealing strips is expected to grow in this region over the forecast period.

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Major players operating in the global vehicle sealing strip market include Gold Seal Engineering Products Pvt. Ltd., Hebei Shida Seal Group Co., Ltd, Henniges Automotive, HUTCHINSON, INOAC CORPORATION, Odenwald-Chemie GmbH, Parker Hannifin Corp, Qingdao Seashore Industrial Co., Ltd., TOKAI KOGYO Co., Ltd., and Trelleborg Group.

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Issued By coherent market insights
Country India
Categories Advertising , Blogging , Industry
Last Updated December 4, 2020