Dublin, Nov. 01, 2023 (GLOBE NEWSWIRE) -- The "Automotive Rubber-molded Components Market by Material Type, Component Type, Vehicle Type, and Region 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global automotive rubber-molded components market has demonstrated remarkable growth, achieving a market size of US$ 52.27 Billion in 2022. Leading industry experts project a continued upward trajectory, with an expected Compound Annual Growth Rate (CAGR) of 5.12% from 2023 to 2028, ultimately reaching a substantial US$ 71.42 Billion.
Empowering the Automotive Industry: Rubber-Molded Components
Automotive rubber-molded components are essential parts manufactured by heating and shaping elastomeric materials into specific forms. These components include seals, gaskets, bushings, hoses, mounts, diaphragms, O-rings, bellows, dust covers, grommets, and weatherstripping.
Utilizing lightweight and durable materials such as natural rubber (NR), styrene-butadiene rubber (SBR), ethylene-propylene-diene monomer (EPDM), silicone rubber, and fluoroelastomers, these components find applications across the entire vehicle, including the engine, suspension, transmission, chassis, drivetrain, steering system, brakes, electronics, fuel tank, and heating, ventilation, and air conditioning (HVAC) system.
These cost-effective and highly flexible products exhibit resistance to heat, chemicals, weathering, and are capable of withstanding harsh conditions. Automotive rubber-molded components also play a crucial role in dampening vibrations, reducing noise, preventing fluid leakage, and minimizing damage to critical vehicle parts.
Global Automotive Rubber-Molded Components Market Trends:
The global automotive industry's substantial growth, coupled with the increasing demand for fuel-efficient vehicles and the adoption of automated molding technology, are key drivers propelling market expansion. These components are extensively used in various vehicle systems, including the engine, steering, brakes, fuel, suspension, and electrical components, providing cushioning, fluid transport, cable protection, and environmental sealing.
Additionally, the surge in the use of automotive rubber-molded components in hybrid and electric vehicles (EVs) to safeguard battery packs, charging ports, and high-voltage electrical systems from environmental factors further fuels market growth. The market also benefits from the rise in consumer preference for fuel-efficient vehicles, as these components enhance vehicle aerodynamics, reduce friction, and improve engine efficiency.
The introduction of automated molding technology streamlines production processes, reduces costs, minimizes manual labor, ensures consistent quality, and decreases defects, thus positively impacting market dynamics. Furthermore, these components are increasingly applied in premium and luxury vehicles to reduce noise and vibration, enhance weather protection, improve user comfort, and ensure the efficient functioning of advanced safety features.
Stringent government regulations aimed at enhancing vehicle safety, improving fuel efficiency, and reducing emissions contribute to market growth. The rising demand for aftermarket automotive parts, extensive research and development (R&D) activities, and the growing emphasis on comfort and convenience are additional factors anticipated to drive market expansion.
Key Market Segmentation:
The global automotive rubber-molded components market report provides a comprehensive analysis of key trends within each segment, with forecasts at the global, regional, and country levels from 2023 to 2028. The market is categorized based on material type, component type, and vehicle type.
Material Type Insights:
- Ethylene Propylene Diene Monomer (EPDM)
- Natural Rubber (NR)
- Styrene-butadiene Rubber (SBR)
- Others
Component Type Insights:
- Seals (Mechanical Seals, O-Rings, Lip Seals, Rotary Seals, Others)
- Gaskets
- Weather-Strips
- Hoses
- Others
Vehicle Type Insights:
- Passenger Car
- Commercial Vehicle
Regional Insights:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape:
The report offers a comprehensive analysis of the competitive landscape within the global automotive rubber-molded components market. This includes an examination of market structure, market share held by key players, player positioning, top-winning strategies, a competitive dashboard, and a company evaluation quadrant. Detailed profiles of major companies are also provided. Some of the key companies covered in the report include 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, and more.
Key Questions Answered in This Report:
- What was the size of the global automotive rubber-molded components market in 2022?
- What is the expected growth rate of the global automotive rubber-molded components market during 2023-2028?
- What are the key factors driving the global automotive rubber-molded components market?
- What has been the impact of COVID-19 on the global automotive rubber-molded components market?
- How is the market segmented based on material type, component type, and vehicle type?
- Which material type holds the most promise in the automotive rubber-molded components market?
- What component type dominates the automotive rubber-molded components market?
- Which vehicle type exhibits the highest growth potential in the automotive rubber-molded components market?
- What is the competitive structure of the global automotive rubber-molded components market?
- Who are the key players/companies in the global automotive rubber-molded components market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 143 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $52.27 Billion |
| Forecasted Market Value (USD) by 2028 | $71.42 Billion |
| Compound Annual Growth Rate | 5.3% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/9lcnp
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