Press Release / Automotive / North America: Mexico & Canada have emerged as growing automotive hubs

North America: Mexico & Canada have emerged as growing automotive hubs

The North American region comprises of developed countries such as the U.S., Canada, and Mexico. However, the North American automotive gasket and seal market is dominated by the U.S., which is known as an automotive hub for renowned OEMs. The materials used in gasket fabrication have improved over time; silicone rubber has become a preferred material for gaskets and seals. Lightweight components in automobiles are sealed with high-strength gaskets and seals to endure high heat and pressure. This indirectly helps in improving fuel-efficiency of vehicles with increasing use of lightweight materials in vehicles. Furthermore, many OEMs are planning to set up vehicle production plants in Mexico and Canada, which in turn drives the demand for automotive gasket and seal market in the region. The North American automotive gasket and seal market is projected to grow at a CAGR of 7.33% from 2015–2020.
Browse 87 market data tables and 57 figures spread through 250 pages and in-depth TOC on “Automotive Gasket & Seal Market by Product Type (Gasket, Metallic Gasket, Non Metallic Gasket, Seals, Mechanical Seals, O Ring Seals, Lip Seals & Rotary Seals), by Vehicle Type (PC, LCV & HCV), by Geography - Global Forecast & Analysis to 2020

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The report covers the global automotive gasket and seal market in terms of volume (thousands) and value ($million) across regions such as Asia-Pacific, Europe, North America, and Rest of the World (RoW). It explains qualitative and quantitative aspects of automotive gasket and seal. The report briefly explains the automotive gasket and seal market on the basis of region, product, and vehicle type from 2015–2020.
The report also offers an overview of the technical as well as other important aspects of the automotive gasket and seal market. This includes analysis of the industry value chain, Porter’s Five Forces analysis, PEST analysis, competitive landscape, and company profiles. In addition to this, 10 key players of the automotive gasket and seal industry have also been profiled.
The global automotive gasket and seal market size in terms of volume is projected to reach 1,088,455.3 thousand units, generating a total estimated market value of around $ 8,877.5 million, by 2015. In 2015, the penetration of automotive gaskets and seals are estimated to be the highest in the Asia-Pacific region, followed by North America, Europe, and RoW.
Asia-Pacific: A potential market and growing at a noteworthy rate
The Asia-Pacific region comprises of countries such as China, India, Japan, and South Korea. The region is dominated by developing countries including India and China, where the automotive industry is growing at a faster pace than other countries in region. Growth in the technological improvements in mechanical strength and sealing capabilities is expected to push the demand for high-performance and functional products used in the automotive industry. The automotive gasket and seal market of the Asia-Pacific region is projected to grow at a CAGR of 7.06% from 2015–2020.
Europe: Eastern Europe would be the upcoming potential market
Europe is a major hub for several renowned OEMs, which are known for delivering quality and high-performance vehicles. However, Eastern Europe still follows the western European countries such as the U.K., Germany, France, and Italy. This gives exposure to the OEMs to expand their footprints in Eastern Europe, which is expected to foster demand for automotive gaskets and seals in Europe. The European automotive gasket and seal market is projected to grow at a CAGR of 6.42% from 2015–2020.

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