PUBLISHER: Allied Market Research | PRODUCT CODE: 1566826
PUBLISHER: Allied Market Research | PRODUCT CODE: 1566826
The automobile weather strip market was valued at $8.6 billion in 2023 and is estimated to reach $11.8 billion by 2032, exhibiting a CAGR of 3.5% from 2024 to 2033.
Automotive weather stripping is a rubber or synthetic gasket or seal that is put around a car's windows, doors, trunk, and other openings. This weather strip contributes to improving insulation, increasing comfort, and decreasing noise levels by keeping air, water, dust, and noise out of the inner cabin. It is essential for maintaining the inner environment of the car from external factors.
The global automobile weather strips market is witnessing rapid growth due to expansion of the automotive industry. As more vehicles are manufactured and sold, there is a corresponding need for weather stripping to seal gaps and joints in vehicle bodies. Furthermore, regulatory requirements related to vehicle safety, emissions, and noise reduction continue to become more stringent globally. Compliance with these regulations necessitates the use of high-quality weather-stripping materials to ensure proper sealing and insulation in vehicles, thus driving the market growth.
However, volatile raw material prices hamper the growth of the market. Contrarily, technological advancements, increase in the penetration of electric vehicles, and customization provide ample opportunities for the market's development during the forecast period. For instance, Toyoda Gosei Co., Ltd, who produces weather strips tailored to the specific designs and requirements of various car models. These strips serve for smooth opening and closing of doors. This level of customization is crucial for ensuring a perfect fit and function, which is something aftermarket suppliers often cannot match.
Segmentation Overview
The global automobile weather strip market is segmented into material type, vehicle type, sales channel, end user, and region. Depending on material type, the market is divided into ethylene propylene diene terpolymer membrane (EPDM) rubber, polyvinyl chloride (PVC) rubber, and thermoplastic elastomer/rubber (TPE). According to vehicle type, the market is categorized into passenger cars, compact, mid-size, SUV, luxury, Light Commercial Vehicles (LCVs), and Heavy Commercial Vehicles (HCVs). By sales channel, the market is fragmented into OEM, and Aftermarket. As per end user, it is classified into doorframe, windows, roof rail, windshield, and trunk. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, Latin America, and Middle East Africa.
Key Findings
Depending on material type, the ethylene propylene diene terpolymer membrane (EPDM) rubber segment acquired the largest market share in 2023.
By vehicle type, the passenger cars segment accounted for the highest share in the market in 2023.
According to sales channel, original equipment manufacturer (OEM) segment was the major shareholder in 2023.
As per end user, the doorframe segment gained the highest share in the market in 2023.
Region wise, Asia-Pacific dominated the automobile weather strip market in 2023.
Competitive Scenario
The major players operating in the automobile weather strip market include Cooper Standard, Hutchinson, Hwaseung Corporation, Kinugawa Rubber Industrial Co., Ltd., Magna International Inc., Nishikawa Rubber Co., Ltd., SaarGummi, Tokai Kogyo Co., Ltd., Toyoda Gosei Co., Ltd, and Trelleborg AB (publ). These players have adopted various strategies, such as mergers & acquisitions, collaborations, partnerships, and product development & innovation, to increase their market penetration and strengthen their position in the automobile weather strip market.
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