Automotive Window and Exterior Sealing Systems Market - Growth, Trends, and Forecasts (2020 - 2025)
|出版商||Mordor Intelligence LLP||商品編碼||938122|
|出版日期||內容資訊||英文 90 Pages
|汽車用窗戶及外部密封系統市場:成長，趨勢，預測(2020年∼2025年) Automotive Window and Exterior Sealing Systems Market - Growth, Trends, and Forecasts (2020 - 2025)|
|出版日期: 2020年05月01日||內容資訊: 英文 90 Pages||
Automotive Window and Exterior Sealing Systems Market are anticipated to register a CAGR of over 6% during the forecast period.
Growing Commercial Vehicle Sales Expected to Drive the Market
Though the auto industry is witnessing a slump worldwide, it is the commercial vehicle segment that has been continuously showing growth post recession period.
The unit sales of commercial vehicles increased by 5.61% during 2017 and 2018, compared to the decline of 2.83% in the passenger vehicle segment during the same period.
Overall in 2018, the demand for commercial vehicles in EU went up roughly by 3.2%, compared to 2017, marking a sixth consecutive year in growth. About 2.5 million light commercial vehicles, trucks, and buses were registered across the European Union. This represents the highest volume since 2007. Spain (+6.5%), France (+4.9%), and Germany (+4.6%) were the major countries which registered a healthy growth.
In the United States, the sales of commercial vehicles increased by more than 8% to reach 12.39 million in 2018, compared to 11.47 million units in 2017. The growth can be attributed to the people's preference toward light commercial vehicles, especially pickup trucks. Ford, Chevrolet,, and Ram are some of the major manufacturers who benefited from sale of these vehicle types.
Asia, China, and India are the major markets for commercial vehicles. The sale of CVs reached the one million mark for the first time in India in 2018, representing a growth of more than 21% over the previous year. China recorded the sales of 4.37 million in 2018, compared to 4.16 million in 2017.
Changes in the logistics space is expected to affect the customer structure of truck and trailer OEMs. Owing to this factor, the demand for large fleets is expected to increase during the forecast period.
Driven by the regulations pertaining to emissions across various parts of the world, the trend of electrification is expected to take over in commercial vehicles in the long run. This factor is expected to drive their sales. Owing to the aforementioned factors, the market for window and exterior sealing systems is expected to witness a significant growth in the next five years.
Asia-Pacific and North America to Dominate the Market
The Asia-Pacific region is expected to hold the largest market share in the automotive window and exterior sealing systems market over the forecast period because of the growing production of automobiles. Also, the availability of low-cost labor and other necessary resources in the Asia-Pacific region is anticipated to drive the market in the region.
Japan has a large number of automotive manufacturers which are projected to create demand for the motor vehicle window and exterior sealing systems over the forecast period. The technological development in Western Europe and the North America region is expected to create significant opportunities in the automotive window and exterior sealing systems market over the forecast period. Latin America and the Middle-East & Africa region are experiencing moderate growth in the automotive window and exterior sealing systems market.
The United States is the largest automotive market worldwide. There are 13 major automobile manufacturers with an average of 11 million vehicles produced per year. Hence, a lot of local and global players present in the country are operating in the market studied.
Henniges Automotive is a major company in this market and is a key supplier to Ford for its F-series pickup line. It also supplies to Fiesta and Lincoln models. Similarly, Cooper Standard supplies to General Motors (Chevrolet, GMC, and Buick) and Chrysler (Dodge).
The growing commercial vehicle segment and the increasing adoption of electric vehicles across the country is expected to drive the window and sealing system market in the United States during the forecast period.
The automotive window and Exterior Sealing System Market is nearly fragmented. Some of the major players are Hutchinson Sealing Systems, Magna International Inc, Cooper Standard, Minth Group, Rehau Group, amongst others.