IMARC Group, a leading market research company, has recently releases report titled “Automotive Rubber-Molded Components Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global automotive rubber-molded components market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the automotive rubber-molded components market?
The global automotive rubber-molded components market size reached US$ 52.27 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 71.42 Billion by 2028, exhibiting a growth rate (CAGR) of 5.12% during 2023-2028.
What is automotive rubber-molded components?
Automotive rubber-molded components are essential elements within vehicles, manufactured using a rubber molding process. These components encompass a diverse range, including seals, gaskets, hoses, mounts, and various other rubber parts that contribute to the operational efficiency and safety of automobiles. The rubber molding process involves injecting molten rubber into a mold, which solidifies into the desired shape upon cooling. These components serve critical functions such as sealing joints to prevent fluid leaks, dampening vibrations to enhance driving comfort and facilitating flexible connections for fluid and airflow. Due to their durability, resilience, and ability to withstand varying conditions, rubber-molded components play a pivotal role in maintaining vehicle performance and longevity.
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What are the growth prospects and trends in the automotive rubber-molded components industry?
The rising automotive production and sales are directly impacting the demand for rubber-molded components which represents one of the key factors driving the growth of the market across the globe. As the global vehicle fleet expands, the need for these components to ensure proper sealing, vibration isolation, and fluid containment increases proportionally which is boosting the growth of the market. In line with this, the ongoing pursuit of fuel efficiency and reduced emissions is leading to vehicle light-weighting strategies which are fueling the growth of the market. Rubber-molded components, being lightweight and flexible, are preferred over traditional alternatives, which is contributing to their increased adoption in modern vehicles, thus driving the market growth. The EV market expansion necessitates specialized rubber-molded components for battery seals, insulation, and other applications which is facilitating the growth of the market. Other factors, such as stringent emission and fuel efficiency regulations, innovations in rubber compounding and molding techniques, and rapid globalization of automotive manufacturing, are creating a positive outlook for the market across the globe.
Who are the key players operating in the industry?
The report covers the major market players including:
- AB SKF
- ALP Group
- Bohra Rubber Pvt. Ltd
- Continental AG
- Cooper Standard
- Freudenberg Co. KG
- Hebei Shida Seal Group Co., Ltd.
- Hutchinson (TotalEnergies SE)
- NOK Corporation
- Sumitomo Riko Company Limited
- Tenneco Inc.
- Trelleborg AB
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Component Type:
- Seals (Mechanical Seals, O-Ring, Lip Seals, Rotary Seals, Others)
- Gaskets
- Weather-Strips
- Hoses
- Others
Breakup by Vehicle Type:
- Passenger Car
- Commercial vehicle
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
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Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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