Global Automotive Rubber Molded Components Market to Reach $56.08 Billion by 2028: Increased Emphasis on Fuel Efficiency and Vehicle Safety
Dublin, April 19, 2024 (GLOBE NEWSWIRE) -- The "Global Automotive Rubber Molded Components Market - Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028" report has been added to * ResearchAndMarkets.com's* offering.
The automotive industry's focus on improving fuel efficiency and adhering to stringent safety standards is significantly influencing the Global Automotive Rubber Molded Components Market. According to recent market analysis, the market size is projected to grow from USD 41 Billion in 2022 to reach USD 56.08 Billion by 2028, registering a CAGR of 5.5%.
These molded components, which include vital parts such as seals, gaskets, hoses, and bushings, are integral to the operational efficiency, safety, and performance of vehicles. The demand for these components is being propelled by the need for lightweight vehicles, the call for enhanced durability, stricter safety and environmental regulations, and burgeoning automotive markets in emerging economies.
*Development in Lightweight and Advanced Rubber Materials*
Rubber molded components play an essential role in vehicle weight reduction, contributing to better aerodynamics and reduced friction, which leads to improved fuel efficiency in light of strict emissions regulations.
*Heightened Safety and Emission Control Standards*
With regulations becoming ever stricter, there is an increasing demand for high-quality rubber molded components. These parts are crucial in critical systems such as braking, fuel delivery, and emissions control, thereby ensuring enhanced vehicle safety.
*Impact of Vehicle Electrification and Hybridization*
The shift towards electric and hybrid vehicles is resulting in a growing need for specialist rubber molded components. These are essential to ensure the safety and performance of the unique electric drivetrains and powertrains.
*Surge in Automotive Production in Emerging Markets*
Growing automotive production in Asia, Latin America, and Africa directly correlates with the rising demand for dependable rubber components in these regions.
*Technological Innovations and NVH Reduction Challenges*
*Technological Advancements:* The market is witnessing technological innovations in rubber molding, with new processes such as injection and compression molding enhancing the accuracy and consistency of the manufacturing process.
*NVH Reduction:* Consumer demand for comfort has led to the development of components aimed at reducing noise, vibration, and harshness, contributing to the overall evolution of the market.
Despite challenges associated with fluctuating raw material prices, regulatory compliance, maintaining consistent quality, and global supply chain disruptions, the market remains resilient. This resilience is attributed to the aftermarket's demand for rubber molded components for vehicle maintenance and the industry's adaptability in the face of economic downturns.
The report offers insightful data on the market's material types including natural rubber, synthetic rubber, and silicone rubber. It covers the use of these components across vehicle types such as passenger cars and commercial vehicles. Furthermore, regional analysis highlights significant contributions from North America, Europe, and the rapidly growing Asia-Pacific market.
Numerous key market players are identified in the report, along with detailed analyses of their roles in the market, shaping the competitive landscape of the Global Automotive Rubber Molded Components Market.
*A selection of companies mentioned in this report includes, but is not limited to:*
· AB SKF
· ALP Group
· Bohra Rubber Pvt. Ltd.
· Continental AG
· Cooper-Standard Automotive
· DANA Holding Corporation
· Federal-Mogul Corporation
· Freudenberg and Co. KG
· Hebei Shinda Seal Group
· Hutchinson SA
*Key Attributes*
*Report Attribute* *Details*
No. of Pages 171
Forecast Period 2022-2028
Estimated Market Value (USD) in 2022 $41 Billion
Forecasted Market Value (USD) by 2028 $56.08 Billion
Compound Annual Growth Rate 5.5%
Regions Covered Global
For more information about this report visit https://www.researchandmarkets.com/r/gezkrw
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· Global Automotive Rubber Molded Components Market
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