Automotive Sealing Solution Market: Introduction
- Automotive sealing solution comprises rubber/silicone or other composite parts used to seal oil, fuel, or gas in the engine, transmission, battery, and other vehicle parts in order to maintain safety and proper functioning of the vehicle. Automotive sealing solution has been extensively used across all vehicles and is finding newer applications.
Key Drivers of Automotive Sealing Solution Market
- Dynamic shift toward electrification witnessed by the auto industry has led to the development of newer applications for automotive sealing solutions. Sealing solutions are required for lithium-ion batteries and electric motors that are specially designed to prevent heat propagation among neighboring cells in the battery.
- Auto manufacturers are compelled to develop fuel-efficient and lightweight vehicles and consequently, they are using lesser welded parts and opting for composite & non-welded body panels that utilizes sealing solutions. Vehicles are fitted with multiple exhaust control devices such as diesel oxygen filter, selective catalytic reduction (SCR), and lean NOx trap, in order to minimize emissions from vehicles. Increase in number of devices in the exhaust system require the utilization of more sealing solution, which in turn is driving the automotive seals market.
- Automotive sealing solutions are required across numerous vehicle parts with designated properties in order to maintain pressure, thermal resistance, and leak proof. Advancements in climate control technology, safety systems, and suspension systems are projected to boost the automotive sealing solution market during the forecast period.
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Battery electric vehicle segment to expand significantly
- Sales of battery electric vehicles are increasing owing to rising consumer awareness toward cleaner mobility and lucrative government incentives and facilities such as free parking, access to bus lane, and tax relief
Asia Pacific held dominant share of global automotive sealing solution market
- Asia Pacific held a dominant share of the automotive sealing solution market in 2019, with China contributing to the majority share in the market, owing to the high production volume of vehicles in the country
Key Players Operating in Automotive Sealing Solution Market
The global automotive sealing solution market is expanding consistently, as a large number of players operate in the market. A few of the key players operating in the global automotive sealing solution market are:
- Trelleborg AB
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Global Automotive Sealing Solution Market: Research Scope
Global Automotive Sealing Solution Market, by Vehicle Type
- Passenger Vehicle
- Light Commercial Vehicle
- Commercial Vehicle
Global Automotive Sealing Solution Market, by Application
- Safety Components
- Exhaust System
- Steering & Suspension
- Climate Control
- Fuel Cell
Global Automotive Sealing Solution Market, by Sales Channel
Global Automotive Sealing Solution Market, by Vehicle Propulsion
- IC Engine
- Battery Electric
- Hybrid/ Plug-in Hybrid Vehicle
Global Automotive Sealing Solution Market, by Sealing Solution
- Cap Seal
- Frame Seal
- Slide Ring
- Cover Seal
Global Automotive Sealing Solution Market, by Region
- North America
- 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
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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.
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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.
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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?
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