United States Automotive Seals and Gaskets Market Forecast and Opportunities, 2020
United States is the second largest automobile market after China. Automobile production and sales in the US exhibited robust growth during 2010-14 as the market witnessed recovery post economic turmoil in 2008. Automotive seals and gaskets are components used to prevent leakage of fluids in automobiles. Automotive seals are used between the moving parts of the vehicle, while automotive gaskets are used between two stationary automotive components. Increase in automobile production and sales coupled with huge automobile fleet are driving the demand for automobile seals and gaskets in the country. With the launch of new vehicles models by leading automobile manufacturers such as GM, Chrysler and Ford, and growing trend towards green vehicles in the US, the automotive seals and gaskets market is forecast to witness moderate growth in the coming years.
According to “United States Automotive Seals and Gaskets Market Forecast & Opportunities, 2020”, automotive seals and gaskets market in the United States is projected to surpass USD4.8 billion by 2020. The automotive seals and gaskets market in the country is significantly dominated by passenger car and light truck segments. However, the light trucks segment is anticipated to grow at a faster rate than passenger car segment over the next five years. OEM sales account for majority of the sales of automotive seals and gaskets, and this trend is forecast to continue through 2020.One striking observation to make is that technological advancements and use of high quality raw materials for manufacturing automotive seals and gaskets is lengthening the replacement time, which is expected to affect the replacement market share in the coming years. “United States Automotive Seals and Gaskets Market Forecast & Opportunities, 2020” report elaborates following aspects related to automotive seals and gaskets in the US:
United States Automotive Seals and Gaskets Market Size, Share & Forecast
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The information contained in this report is based on both primary and secondary sources. Primary research included interviews with seals and gaskets manufacturers, distributors and retailers. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases.
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