Thursday, July 5, 2018

Automotive Window and Sealing Systems Market Research Report - Growth and Demand Forecast to 2023


Automotive window and sealing systems market size is set to reach $29.5 billion by 2023, growing at a CAGR of 8.2% between 2017-2023. The major factors driving the growth of the market include growing demand of passenger and electric vehicles globally.

Insights on market segments

As per the findings of research, the global automotive window and sealing systems market has been segmented into glass run channel, waist belt seal, roof ditch molding, hood seals, trunk seals, front windshield seals, door seals, rear windshield seals and sunroof seals. The glass run channel segment held the largest share in the market in 2016. The major factors driving the growth of the glass run channel is increasing vehicle production and growing awareness and adoption of electric vehicle across the globe and growth in the automotive industry.

Automotive Window and Sealing Systems Market
Asia-Pacific stands as the largest region in the global automotive window and sealing systems market

In 2016, Asia-Pacific held the largest share in the global automotive window and sealing system market with over 40% share, in terms of value. The global automotive window and sealing systems market is expected to grow at a CAGR of 8.2%, during the forecast period, owing to increase in global GDP and rapid growth in developing countries such as India and China. Additionally, the European 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 Germany and the U.K.

Growing demand of passenger and electric vehicle segment across the globe

The major factors driving the growth of the automotive window and sealing systems market include growing demand of passenger and electric vehicles globally. India and China have emerged as the growing countries where the vehicle production has increased rapidly in past five years and the trend is likely to continue during the forecast period. 

In North America, the outlook in U.S. and Canada remained promising and achieved high sales figures in in 2016 and without any overriding concern of a slow down on the horizon in either market. The rest of the world include key countries such as Iran and Australia and Middle East region that have gained global traction in the recent time and is expected to remain at a forefront of market due to which several OEMs continue to explore local manufacturing options in these countries.

Competitive Landscape  

The 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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