Global Automotive Gasket and Seal Market: Industry Analysis and Forecast (2019-2027)
- POSTED ON Saturday, March 20, 2021
Global Automotive Gasket and Seal Market was valued US$ 63.80 Bn in 2019 and is expected to reach 96.20 Bn by 2027, at a CAGR of 5.27 % during a forecast period.
Gaskets and seals are the main components , which are widely used in automobiles to avoid any fluid and gas leakage. These components help to fill the gap between many automotive components to ensuring zero leakage. The technological advancements in vehicles sector and consumer’s inclination towards better fuel efficiency and vehicle performance are expected to drive the global gaskets and seals market. Reducing the maintenance cost and enhancing the safety are the key areas where automobile companies are working, which is expected to fuel the demand for high end gasket and seals in forecast period. Strict emission regulations by different governments are making OEM to focus on mandatory incorporation of advanced gaskets and seals in the vehicles.