Global Automotive Grommet Market 2018-2022
About Automotive Grommet
An automotive grommet is a ring-shaped strip made of a metal or an elastomer, that is used to protect the wires passing through it from mechanical damage.
Technavio’s analysts forecast the Automotive Grommet Market to grow at a CAGR of 4.49% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the automotive grommet market. To calculate the market size, the report considers the revenue generated from the sales of passenger cars and commercial vehicles.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Automotive Grommet Market 2018-2022
Technavio recognizes the following companies as the key players in the automotive grommet market: Continental, Federal-Mogul, HUTCHINSON, Trelleborg, Grote Industries, and Ritus Corporation.
Commenting on the report, an analyst from Technavio’s team said: “One trend affecting this market is the use of 3D manufacturing process.” This technology helps in fusing powder grains and or liquid grain molecules to form solid structures.
According to the report, one driver influencing this market is the rising demand for automotive in APAC. In emerging counties such as China, Brazil, Thailand, and India, the demand for passenger cars and commercial cars is increasing, which in turn, will boost the production of automotive grommets.
Further, the report states that one challenge affecting this market is the commoditization of automotive grommets. This limits the amount of research that can be conducted to improve the component’s chemical or physical composition.