Market Size of Automotive Gaskets and Seals Industry
Study Period | 2019 - 2029 |
Market Size (2024) | USD 27.06 Billion |
Market Size (2029) | USD 37.63 Billion |
CAGR (2024 - 2029) | > 5.70 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Automotive Gaskets & Seals Market Analysis
The Automotive Gaskets and Seals Market size is estimated at USD 27.06 billion in 2024, and is expected to reach USD 37.63 billion by 2029, growing at a CAGR of greater than 5.70% during the forecast period (2024-2029).
The growth of the market studied depends on various factors, such as the adoption rate of electric vehicles in developing nations, increasing electric vehicle infrastructure trends in developed nations, variations in raw material prices, etc. Additionally, the impact of tariff rates among the United States, Europe, and China for automotive components may also contribute to the demand for gaskets and seals.
Manufacturers of gaskets and seals have been conducting R&D activities to develop special types of gaskets and seals for the expected rise in demand for IC engine vehicles and battery electric vehicles.
The growing electric vehicle fleet in the country will propel the market further. According to the newest figures from the Federation of Automobile Dealers Association of India (FADA), retail electric car sales in India increased by around 185% in October 2022, over the same month last year. The Indian government has already offered various production incentives along with heavy investments in electric vehicle infrastructure.
Some of the manufacturers in the market include Freudenberg, Dana Incorporated, Federal-Mogul, SKF GmbH, ElringKlinger AG, etc. As China dominates electric vehicle sales, local manufacturers, such as Kunshan Sanwa Engine Parts Industry Co. Ltd, have been supplying the necessary cylinder heads and exhaust manifold gaskets to the majority of the vehicles.
Automotive Gaskets & Seals Industry Segmentation
Gaskets and seals are a key component of cars, motorcycles, and quad bikes to help prevent oils, coolants, and other lubricants from entering the engine and compromising the vehicle's performance.
The automotive gaskets and seals market has been segmented by type (gaskets and seals), gasket application (cylinder head, exhaust manifold, and other gasket applications), seals application (engine transmission and steering battery), vehicle type (passenger cars and commercial vehicles), sales channel (OEM and aftermarket), and geography (North America, Europe, Asia-Pacific and Rest of the World).
The report offers market size and forecasts for automotive gaskets and seals in volume and value (USD) for all the above segments.
Type | |
Gaskets | |
Seals |
Gasket Application Type | |
Cylinder Head | |
Exhaust Manifold | |
Other Gasket Application Types |
Seal Application Type | |
Engine | |
Transmission | |
Steering | |
Battery |
Vehicle Type | |
Passenger Cars | |
Commercial Vehicles |
Sales Channel Type | |
OEM | |
Aftermarket |
Geography | |||||||
| |||||||
| |||||||
| |||||||
|
Automotive Gaskets and Seals Market Size Summary
The automotive gaskets and seals market is poised for significant growth, driven by the increasing production and adoption of electric vehicles (EVs) and internal combustion engine (ICE) vehicles globally. The market's expansion is influenced by factors such as the rising demand for vehicles in developing regions, particularly in Asia-Pacific, and the growing electric vehicle infrastructure in developed nations. The market is characterized by a diverse range of applications in both EVs and conventional vehicles, presenting substantial opportunities for manufacturers. Key players in the industry, including Freudenberg, Dana Incorporated, and SKF GmbH, are actively engaging in research and development to innovate and meet the evolving demands of the automotive sector. The market's growth trajectory is further supported by strategic expansions and partnerships among manufacturers, aimed at enhancing product offerings and capturing emerging market opportunities.
The Asia-Pacific region, with its robust automotive markets like China and India, is a major contributor to the market's growth. China's dominance in electric vehicle sales and India's expanding vehicle sector create lucrative prospects for gaskets and seals manufacturers. Additionally, Europe is expected to maintain a significant share of the market, driven by the demand for commercial vehicles and advancements in both ICE and electric vehicle segments. The market remains fragmented, with numerous players introducing new products to gain a competitive edge. Recent developments, such as Freudenberg's 3D thermal barriers and Trelleborg's HMF FlatSeal, highlight the industry's focus on innovation to enhance safety and performance in automotive applications. As the global automotive industry continues to evolve, the gaskets and seals market is well-positioned to capitalize on the increasing vehicle production and the shift towards electric mobility.
Automotive Gaskets and Seals Market Size - Table of Contents
-
1. MARKET DYNAMICS
-
1.1 Market Drivers
-
1.1.1 Growing Automobile Sales Across the Globe is Likely to Bolster Demand
-
-
1.2 Market Restraints
-
1.2.1 Volatility in Raw Material Prices
-
-
1.3 Industry Attractiveness - Porter's Five Forces Analysis
-
1.3.1 Threat of New Entrants
-
1.3.2 Bargaining Power of Buyers/Consumers
-
1.3.3 Bargaining Power of Suppliers
-
1.3.4 Threat of Substitute Products
-
1.3.5 Intensity of Competitive Rivalry
-
-
-
2. MARKET SEGMENTATION
-
2.1 Type
-
2.1.1 Gaskets
-
2.1.2 Seals
-
-
2.2 Gasket Application Type
-
2.2.1 Cylinder Head
-
2.2.2 Exhaust Manifold
-
2.2.3 Other Gasket Application Types
-
-
2.3 Seal Application Type
-
2.3.1 Engine
-
2.3.2 Transmission
-
2.3.3 Steering
-
2.3.4 Battery
-
-
2.4 Vehicle Type
-
2.4.1 Passenger Cars
-
2.4.2 Commercial Vehicles
-
-
2.5 Sales Channel Type
-
2.5.1 OEM
-
2.5.2 Aftermarket
-
-
2.6 Geography
-
2.6.1 North America
-
2.6.1.1 United States
-
2.6.1.2 Canada
-
2.6.1.3 Rest of North America
-
-
2.6.2 Europe
-
2.6.2.1 Germany
-
2.6.2.2 United Kingdom
-
2.6.2.3 France
-
2.6.2.4 Spain
-
2.6.2.5 Rest of Europe
-
-
2.6.3 Asia-Pacific
-
2.6.3.1 India
-
2.6.3.2 China
-
2.6.3.3 Japan
-
2.6.3.4 South Korea
-
2.6.3.5 Rest of Asia-Pacific
-
-
2.6.4 Rest of the World
-
2.6.4.1 South America
-
2.6.4.2 Middle East and Africa
-
-
-
Automotive Gaskets and Seals Market Size FAQs
How big is the Automotive Gaskets and Seals Market?
The Automotive Gaskets and Seals Market size is expected to reach USD 27.06 billion in 2024 and grow at a CAGR of greater than 5.70% to reach USD 37.63 billion by 2029.
What is the current Automotive Gaskets and Seals Market size?
In 2024, the Automotive Gaskets and Seals Market size is expected to reach USD 27.06 billion.