Global Automotive Gasket and Seal Market: Industry Analysis and Forecast (2018-2026) – By Material Type, Vehicle Type, Product Type, Application and Region. Global Automotive Gasket and Seal Market was valued US$ 63.80 Bn in 2017 and is expected to reach 96.20 Bn by 2026, at a CAGR of 5.27 % during a forecast period.
Gaskets and seals are the main components, which are widely used in automobiles to avoid any fluid and gas leakage. These components are helping to fill the gap between the many automotive components to ensuring zero leakage. The technological advancements in vehicles sector and consumer’s inclination towards better fuel efficiency and vehicle performance are the factors, which are expected to dominate the growth in global gaskets and seals. Additionally, gaskets and seals offers the benefits like they helps to reduce the maintenance cost of vehicles and improved the lifespan of the automotive components. Concerning with the strict emission regulations, the original equipment manufacturers are focusing on the mandatory incorporation of gaskets and seals in vehicles. These are the driving factors, which are expected to share significant growth in the global automotive Gasket and Seal market. In current years, technological advancements have made automotive gasket and seal component safer and effective. Silicone rubber has become a preferred material for gaskets and seals owing to increasing consumer preference for lightweight materials. The lightweight material components in automobiles sector are sealed through high-strength gaskets to sustain high heat and pressure. It also helps to improving fuel-efficiency of vehicles. By application segment, engine segment is expected to hold maximum share in the global automotive Gasket and Seal market. An upsurge in vehicle production will in turn to increase demand for automotive engine. To ensure the zero leakage effect Gasket and Seal are key component for the engine application segment. The passenger vehicle is expected to dominate the global automotive engine market. The leading position in the market is attributed to the increasing demand for passenger vehicle across the globe. Additionally, these vehicles also provides enhanced driving pleasure, safety, reliability, and comfort level. These factors are