Global Automotive Weatherstrips Market 2018-2022 | Key Insights and Forecasts | Technavio
LONDON--(BUSINESS WIRE)--Nov 27, 2018-- analysts forecast the global automotive weatherstrips market to grow at a CAGR of nearly 4% during the forecast period, according to their latest market research report. However, the growth momentum of the market is expected to decelerate due to a decline in the year-over-year growth.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181127005935/en/
Technavio has released a new market research report on the global automotive weatherstrips market for the period 2018-2022. (Graphic: Business Wire)
Development of self-adhesive automotive weatherstrips is one of the major trends being witnessed in the . Automotive weatherstrips manufacturers are focusing on the development of self-adhesive automotive weatherstrips that are available with adhesive liquid on one side. This type of weatherstrip can be applied directly without requiring the need for a mechanic. Self-adhesive automotive weatherstrips are developed largely focusing on utilitarian purposes.
According to Technavio analysts, one of the key factors contributing to the growth of the global automotive weatherstrips market is the increasing number of vehicles:
Global automotive weatherstrips market: Increasing number of vehicles
The growth of the global automotive weatherstrips market is primarily driven by the sale and production of automobiles. As each vehicle is equipped with certain units of automotive weatherstrips, the increasing production of passenger cars and commercial vehicles is expected to drive the demand for automotive weatherstrips during the forecast period. Automotive weatherstrips offer sealing of vehicle openings to prevent the entry of dust, wind, water, and noise to a certain extent. Every vehicle manufacturer uses a set of automotive weatherstrips to restrict noise and vibration within their vehicle.
According to a senior analyst at Technavio for research on automotive components, “In APAC, the growth of the automotive market can be attributed to the growth of the passenger car segment. Economic development in the developing countries within APAC, revival of the construction and agriculture industries, increasing per capita income, and low vehicle penetration are expected to drive the demand for new vehicles in APAC.”
Global automotive weatherstrips market: Segmentation analysis
The global automotive weatherstrips market research report provides market segmentation by end-user (passenger cars and commercial vehicles), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The passenger cars segment held the largest market share in 2017, accounting for over 71% of the market. This end-user segment is expected to dominate the global market throughout the forecast period.
APAC led the market in 2017 with a market share of over 54%. This region is expected to dominate the market through 2022, with a 2% increase in its market share.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at .
View source version on businesswire.com:https://www.businesswire.com/news/home/20181127005935/en/
CONTACT: Technavio Research
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
INDUSTRY KEYWORD: MANUFACTURING AUTOMOTIVE MANUFACTURING CHEMICALS/PLASTICS AUTOMOTIVE AFTERMARKET GENERAL AUTOMOTIVE
SOURCE: Technavio Research
Copyright Business Wire 2018.
PUB: 11/27/2018 11:57 PM/DISC: 11/27/2018 11:57 PM