Automotive Window and Exterior Sealing Systems Market are anticipated to register a CAGR of over 6% during the forecast period.
- The automotive industry is experiencing transition based on rapid and ongoing innovation, Original Equipment Manufacturers (OEMs) are emphasizing in using technologies which makes the vehicles more efficient.
- The automotive window and exterior sealing system market is growing as it is one of the essential safety systems for the vehicle. These sealings are major used to protect the interior of the vehicle from pollution, rainwater and exterior noise. The sealing frames prevent the degradation of glass structure due to water and the occurrence of wind noise. The use of window channel covers shelters the interior of the vehicle from dirt ingress and noise emission.
- The local players have a lot of scope in the aftermarket segment. After the warranty expires, the vehicle owners generally prefer to go to local garages and workshops to get window seals and other related products replaced. The reason can be attributed to the fact that these garages readily have an availability of spare parts and charge lesser than the authorized showrooms.
- In addition, e-commerce and e-tailing is popular and the consumers are buying car spares online and are getting them fixed at the local shops. For instance, the revenue of the Original Equipment Supplier-Do it For Me (OES DIFM) automotive parts' aftermarket in the United States is expected to increase, reaching USD 18 billion in 2025, compared to USD 13 billion in 2013.
Key Market Trends
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.
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Table of Contents
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Market Drivers
- 4.2 Market Restraints
- 4.3 Industry Attractiveness - Porter's Five Forces Analysis
- 4.3.1 Threat of New Entrants
- 4.3.2 Bargaining Power of Buyers/Consumers
- 4.3.3 Bargaining Power of Suppliers
- 4.3.4 Threat of Substitute Products
- 4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
- 5.1 Component Type
- 5.1.1 Roof Ditch Molding
- 5.1.2 Door Seals
- 5.1.3 Glass Run Channel
- 5.1.4 Rear Windshield Seals
- 5.2 Exterior Seals
- 5.2.1 Trunk Seals
- 5.2.2 Hood Seals
- 5.2.3 Front Windshield Seals
- 5.3 Vehicle Type
- 5.3.1 Passenger Cars
- 5.3.2 Commercial Vehicle
- 5.4 Geography
- 5.4.1 North America
- 220.127.116.11 United States
- 18.104.22.168 Canada
- 22.214.171.124 Rest of North America
- 5.4.2 Europe
- 126.96.36.199 Germany
- 188.8.131.52 United Kingdom
- 184.108.40.206 France
- 220.127.116.11 Spain
- 18.104.22.168 Rest of Europe
- 5.4.3 Asia-Pacific
- 22.214.171.124 India
- 126.96.36.199 China
- 188.8.131.52 Japan
- 184.108.40.206 Rest of Asia-Pacific
- 220.127.116.11 South Korea
- 5.4.4 South America
- 18.104.22.168 Brazil
- 22.214.171.124 Argentina
- 126.96.36.199 Rest of South America
- 5.4.5 Middle-East and Africa
- 188.8.131.52 United Arab Emirates
- 184.108.40.206 Saudi Arabia
- 220.127.116.11 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
- 6.1 Vendor Market Share
- 6.2 Company Profiles
- 6.2.1 Copper Standard Automotive Inc.
- 6.2.2 Hutchinson Sealing Systems
- 6.2.3 Magna International Inc.
- 6.2.4 Sumitomo Chemical Co., Ltd
- 6.2.5 Toyoda Gosei Co., Ltd
- 6.2.6 Minth Group Ltd.
- 6.2.7 Lauren Plastics LLC
- 6.2.8 Dura Automotive Systems
- 6.2.9 Rehau Group
- 6.2.10 Henniges Automotive Holding Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS