Hyderabad, April 05, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Automotive Window and Exterior Sealing Systems Market - (2023 – 2028),” the market is expected to register a CAGR of >6%. The market being studied is expanding because it is one of the vehicle's essential safety systems. These seals are primarily used to protect the vehicle's interior from pollution, rainwater, and outside noise. The sealing frames prevent water damage to glass structures as well as the occurrence of wind noise. The use of window channels protects the vehicle's shelters and interior from dirt ingress and noise emission.
Commercial vehicle sales are expected to rise, propelling the Automotive Window and Exterior Sealing Systems Market:
The rise in the automotive window and exterior sealing systems market is triggered by various factors, which cover different aspects.
- The need for transportation is increasing due to the growing population and urbanization, leading to the need for automotive window and sealing systems.
- The auto industry will drive the automotive window and exterior sealing systems market over the forecast period.
- Increased demand for material transportation has led to increased commercial vehicle sales worldwide. This is likely to drive the growth of the commercial vehicles market in the near future.
- For instance, in 2021, the number of gasoline vans registered in Europe surged by 20.5% over 2020 to 58,757 units.
- Petrol's share of EU sales increased, with France and Germany leading the way.
- Changes in the logistics space are 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.
How is the growth being addressed?
Due to rising automobile production, Asia-Pacific is expected to have the largest market share in the market studied over the forecast period. Furthermore, the availability of low-cost labor and other necessary resources in Asia-Pacific is expected to drive the region's market.
China, the world's largest market for commercial heavy trucks, has seen the most rapid growth in recent years. In China in 2021, about 1,000 new heavy trucks were sold, 62% being BEV and 31% being EVs with swappable batteries. Furthermore, fuel cell vehicles accounted for the remaining 7% of the vehicle class.
On the rocks of China's economic development outlook, the commercial electric vehicle market, driven by logistics and developments in the construction and e-commerce industries, is expected to witness significant growth in the coming years, with good opportunities opening in the infrastructure and logistic sectors. Electric vans are expected to capture a significant market share in the future.
Who are the key players in Automotive Window and Exterior Sealing Systems Market?
The Automotive Window and Exterior Sealing Systems Market is fragmented. Some of the major players are:
- Hutchinson Sealing Systems
- Rehau Group
- Magna International Inc.
- Cooper Standard Automotive Inc.
- Minth Group Ltd
- Lauren Plastics LLC
- Dura Automotive Systems
- Henniges Automotive Holding Inc.
- Toyoda Gosei Co. Ltd
Recent developments in Automotive Window and Exterior Sealing Systems Market:
- In March 2021, Hutchinson and VA-Q-tec entered a strategic partnership to develop innovative insulation in the automotive and aerospace sectors. This strategic partnership aims to jointly develop high-performance, scalable insulation solutions to improve the thermal management of e-mobility vehicles.
- In March 2021, STMicroelectronics and OQmented, a deep-tech startup focused on MEMS-mirror technology, agreed to collaborate on the advancement of the technology for augmented reality and 3D-sensing markets.
In a nutshell, the Mordor Intelligence Market Research Report is a must-read for startups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the https://www.mordorintelligence.com/industry-reports/automotive-window-and-exterior-sealing-systems-market
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. It predicts butterfly effects that have the potential to change or significantly impact market dynamics.
Market research reports from Mordor Intelligence are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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