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 refer to parts made from rubber or rubber compounds, typically used in vehicles for sealing, insulation, cushioning, and noise reduction. These components include gaskets, seals, hoses, and other essential elements in automotive manufacturing. The flexibility, durability, and effectiveness they offer in various applications make them indispensable in the automotive industry.
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What are the growth prospects and trends in the automotive rubber-molded components industry?
The global trend towards vehicle efficiency and performance enhancement is one of the key factors driving the expansion of the Automotive Rubber-Molded Components Market. In line with this, these products are increasingly being utilized to improve fuel efficiency, reduce vibrations, and enhance user comfort, significantly contributing to market growth. Besides this, advancements in rubber technology and manufacturing processes are enabling the production of high-quality and customized rubber-molded components, thereby augmenting market growth. Moreover, the emphasis on vehicle safety and compliance with stringent regulations has escalated the demand for precision-engineered rubber components, owing to their role in ensuring optimal functionality and adherence to standards. This factor, coupled with the rising awareness of the importance of regular vehicle maintenance, is stimulating market growth.
Additionally, the increasing demand from both passenger and commercial vehicle manufacturers for specialized rubber components is accelerating market expansion. Furthermore, the necessity for compliance with environmental regulations regarding material disposal and recycling is fueling the market’s growth. In addition, the potential economic benefits from the effective application of automotive rubber-molded components, owing to their contribution to vehicle performance and longevity, are fostering demand. The global economic landscape, along with governmental policies supporting automotive innovation and sustainability, is creating a positive market outlook. Other factors, such as investments in research for developing new rubber compounds and the emergence of companies specializing in automotive rubber-molded components, are propelling market growth worldwide.
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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