Automotive Leaky Oil Seal Market: Introduction
Automotive leaky oil seals are utilized in automotive engines and geared motors, primarily to prevent oil leaks at the ends of rotating shafts and the intrusion of dust particles from outside
Key Drivers of Automotive Leaky Oil Seal Market
- Increasing average age of vehicles owing to growing technological advancements and rise in the average miles driven per vehicle are key factors that are projected to drive the automotive leaky oil seal market during the forecast period. Moreover, growing awareness about road safety among people is likely to boost the average repair & maintenance spending by an individual, which is projected to propel the market. Furthermore, an increase in sales of used cars across several regions is estimated to further augment the global automotive leaky oil seal market during the forecast period.
Restrains in Automotive Leaky Oil Seal Market
- Electric vehicles are replacing vehicles that run on conventional fuels such as diesel and gasoline. This trend is anticipated to act as a major hurdle to the leaky oil seal market. Several government organizations and regulatory authorities around the globe have enacted stringent vehicle regulations and standards pertaining to diesel operated vehicles. This, in turn, has prompted automakers around the globe to announce plans to phase out the production of diesel engine vehicles. This move is likely to restraint the leaky oil seal market.
- The COVID-19 pandemic has affected national as well as international automotive supply chains, manufacturing and R&D operations and consequently, hampered the automotive industry. Post first wave of COVID-19, global economies have started opening up automotive manufacturing and supply chain operations, thus the COVID impact on the industry have seems to reached a state of normalcy; however, a resurgence in COVID-19 cases in countries across Europe has prompted governments to impose a second round of lockdown restrictions and hence, the uncertainty in the automotive industry continues. A gradual recovery in the demand for automotive and ancillaries is anticipated in the next few months despite concerns around the risk of a second wave of infection in numerous countries.
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Opportunities in Automotive Leaky Oil Seal Market
- Growing oil leaks and vehicle recall activity by major automakers is likely to provide significant opportunity for the automotive oil seal market. For instance, in December 2020, Mercedes Benz recalled more than 660,000 vehicles in China for a possible oil leak between high-pressure fuel pump and a low-pressure fuel pipe weakening over time, thus allowing oil to leak when the engine starts in cold weather. Likewise, in November 2020, General Motors issued a recall for about 1.4 million vehicles due to a faulty valve cover gasket that can leak and cause vehicle fires. This is reportedly the third time GM has issued the same recall within seven years, as the remedies carried out during the first two recalls have not worked.
Asia Pacific Region Dominate Automotive Leaky Oil Seal Market
- Asia Pacific to dominate the global automotive leaky oil seal market, owing the high number of automotive oil leak recalls occurring in the region, especially in China, which makes Asia Pacific a dominant region of the global leaky oil seal market. Furthermore, secondhand car sales have been increasing in the region, especially in rapidly developing economies owing to the involvement of leading car domestic and international car companies. The secondhand car industry in China expanded in terms of volume from only 3.34 million units in 2009 to 14.92 million units in 2019, owing to regulation and professionalization. These favorable developments in the region are estimated to make Asia Pacific a major market for automotive leaky oil seal during the forecast period.
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Key Players Operating in Automotive Leaky Oil Seal Market
The global automotive leaky oil seal market is fragmented with many players. A few of the key players operating in the global automotive leaky oil seal market are:
- NOK Corporation
- The Timken Company
- Leak Pack
- JTEKT Corporation
- NS Bearings
- SSP Manufacturing Inc
- Blue Diamond Technologies Limited
- UK Seals & Polymers Ltd
- NAK Sealing Technologies Corporation
Global Automotive Leaky Oil Seal Market: Research Scope
Global Automotive Leaky Oil Seal Market, by Seal Type
- Engine Seals
- Crankshaft Front Seal
- Crankshaft Rear Seal
- Plug Tube Gasket
- Valve Stem Seal
- Transmission Seals
- Front pump input seal
- Friction Damper
- Bonded Piston Seal
- Differential Gears
- Differential Gear Pinion Seal
- Differential Gear Side Output Seal
- Pack Seal
- Half –rubber seal with side lips
Global Automotive Leaky Oil Seal Market, by Vehicle Type
- Passenger Cars
- Light Duty Trucks
- Buses and Coaches
Global Automotive Leaky Oil Seal Market, by Sales Channel
Global Automotive Leaky Oil Seal Market, by Region
- North America
- Nordic Region
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.