Published: May 2017
Report Code: AT11021
Category : Vehicles & Components
The global automotive window and sealing systems market involves weather strips that prevent water, air, dust and noise from entering the passenger compartment. Door seals under the window and sealing systems is attached to either door or body of the vehicle. Additionally, trunk and hood seals are major type of window and sealing systems used to manage the air flow and prevent the dust particles and water to enter in the engine and trunk compartment. The most important window and sealing systems is glass run channel that is located around the sides and top of movable door glass.
The global automotive window and sealing systems market is segmented on the basis of component type, application, segment and region. By component type, the window and sealing system is segmented into different technologies which include glass run channel, roof ditch molding, hood seal, trunk seal and waist belt seal. By Application, the window and sealing system is segmented into passenger car, commercial vehicles and electric vehicles. Further, by segment, the global automotive window and sealing systems market is segmented into OEMs and aftermarket. The global automotive window and sealing systems market by geography is segmented into Asia-Pacific, North America, Europe and rest of the World.
The global automotive window and sealing systems is growing at a fast pace, owing to increase in vehicle production and continued R&D and innovation efforts towards automotive sealing systems. The global automotive window and sealing systems market is expected to witness a CAGR of 8.2% during the forecast period (2017-2023), to reach $29.5 billion by 2023. Glass run channel is the largest markets followed by waist belt seal market in the window and sealing systems. OEMs are coming up with new light material for manufacturing automotive sealing systems. Passenger vehicles has been the largest contributor to the global automotive window and sealing systems market, in terms of revenue while electric vehicle segment is expected to grow at the highest CAGR during the forecast period. In Asia-Pacific, the demand for automotive window and sealing systems was highest in 2016 and the market continues to dominate in 2023, owing to increase in vehicle production and growth in the economy. Additionally, the European and North American market for automotive window and sealing systems is expected to witness significant growth during the forecast period, owing to increase in manufacturing of commercial vehicles in developed countries such as the Germany, the U.K., the U.S. and Canada.
The global automotive window and sealing systems market is expected to grow significantly, during the forecast period, owing to increase in global GDP and rapid growth in developing countries such as India, Korea and China. Increase in R&D expenditure and effective implementation of government policies and regulations in the auto industry is another emerging trend in global automotive window and sealing systems market. Major automotive window and sealing systems manufacturers are expanding their production base through partnerships and acquisition to meet the growing demand of global automotive window and sealing systems market. For instance, Henniges Automotive Holdings, Inc., extended its partnership with Burkool S.A., a sealing solutions manufacturer based in Buenos Aires, Argentina, to meet the growing demand of the automotive original equipment manufacturers (OEMs) in Brazil. Additionally, Hutchinson acquired the French company, Composite Industrie, based in Bondoufle, Paris.
The key drivers for the growth of the global automotive window and sealing systems market include increase in demand for lightweight material used in automotive sealings which has longer life and more durability than the traditional window sealings. Another factor driving the global automotive window and sealing systems market is increase in vehicle production across the globe. In Asia-Pacific, China and India have emerged as the growing countries where the vehicle production has increased during the past five years and the trend is likely to continue during the forecast period. In North America, US and Canada have emerged as growing market where the vehicle production has increased with significant growth rate and demand for electric vehicles is increasing at a moderate rate. One of the widely-used window and sealing system is glass run channel, which is the fastest growing market during the forecast period (2017-2023). It is primarily used for window frame of vehicles. Window and sealing systems decrease the noise level from outside and also protect the dust particle to enter in the vehicle and control the vibration of the window glass. The growing demand for sunroofs in the upcoming passenger cars, commercial and electric vehicles is supporting further growth in the sunroof variants. Thus, it is driving the global automotive window and sealing systems.
The key growth restraint identified in the global automotive window and sealing systems market is the high cost of parts that hinders the overall growth of the market. The increased cost of parts corresponds to the overall cost of the manufactured products that has adverse ripple effects on the global automotive window and sealing systems market. Additionally, design and installation issues are involved in the overall manufacturing of window and sealing systems that accumulate to the wastage and residuals. The growing automotive industry is supporting a fast-pace technological development that involves turnaround of the key components to match with the advancement in the technology. Such hindrances decline the overall growth of the global automotive window and sealing systems market.
The global automotive window and sealing systems market includes organized players having presence across the globe. Some of the major players involved in the manufacturing of window and sealing systems include Cooper Standard Inc., Hutchinson Automotive, Magna International, Sumitomo Chemical Co. Ltd, Toyoda Gosei Co., Ltd., Minth Group, and Henniges Automotive Holdings Inc.
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