Global automotive window and sealing systems market is projected to reach $38.7 billion by 2025, according to P&S Intelligence.
The market is primarily driven by the growing vehicle market and continuous efforts made by automotive original equipment manufacturers (OEMs) to increase the fuel economy of vehicles through the use of modified polymers.
Insights into market segments
On the basis of component, the automotive window and sealing systems market is categorized into glass run channel, waist belt seal, roof ditch molding, hood seal, trunk seal, front windshield seal, door seal, rear windshield seal, sunroof seal, encapsulated glass, corner molding, and end cap. In 2017, the category of glass run channels recorded the highest sales by value, accounting for around 15% of the market share. Besides, the market for glass run channels is forecasted to reach 783.5 million units by 2025, owing to the high usage of this component by OEMs and in the aftermarket.
On the basis of application, the automotive window and sealing systems market is categorized into passenger cars, commercial vehicles, and electric vehicles. The passenger cars category recorded the highest volume sales in 2017, with a market share of around 80%. However, the fastest growth in the market during the forecast period is expected from electric vehicles, owing to governments’ initiatives to encourage the use of near-zero-emission vehicles in order to curb the rising environmental pollution.
What are the factors impacting the growth of this market?
Booming vehicle market driving the market growth
Emergence of technologically advanced substitutes restraining the market growth
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Urbanization, particularly in developing economies of the world, such as China and India, has been on the rise. There has been significant improvement in the lifestyle and living standard of people in these economies in the recent past, resulting in an increase in their purchasing power. This has allowed consumers in these countries to spend a significant share of their income on the purchase of vehicles for personal use, which, in turn, has positively affected the sales of automotive window and sealing systems.
Some of the key players operating in the global automotive window and sealing systems market are Cooper-Standard Holdings Inc., Magna International Inc., MINTH Group Ltd., PPAP Automotive Limited, DURA Automotive Systems, TOYODA GOSEI Co. Ltd., Lauren Manufacturing Company, Henniges Automotive, and Hutchinson.
