Gaskets Market is Forecasted to Reach US$10.6 Billion in 2031, Says Stratview Research

Stratview Research, a global market research firm, has launched a report on the global gaskets market which provides a comprehensive outlook of the global and regional industry forecast, current & emerging market trends, segment analysis, competitive landscape, & more.

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Market Statistics

Market Size in 2024: US$8.9 Billion

Market Size in 2031: US$10.6 Billion

Growth (CAGR): 2.5% during 2024-2031

Cumulative Sales Opportunity 2024 to 2031: US$78.70 Billion

Leading End-Use Industry Type: Transportation

Leading Region: Asia-Pacific

Forecast Period: 2024-2031

Trend Period: 2018-2022

Base Year: 2023

Number of Segments Covered: 2

Number of Tables & Graphs: 100+

Country-Level Market Assessment: 20

Segment Insights & Market Share Analysis of the Gaskets Market:

The global gaskets market is segmented based on end-use industry type, and region.

Based on End-Use Industry type –

·      Based on end-use industry type, the gaskets market is divided into transportation, processing, electrical & electronics, mobile machinery, manufacturing tools, energy & power, and other end-use industries.

·      The transportation industry is expected to maintain its dominance in the gaskets market throughout the forecast period due to the high demand for gaskets in various transportation systems, including automotive, aerospace, railways, and marine vessels. In the automotive sector, gaskets are critical components in engines, exhaust systems, and fuel systems, where they play a vital role in ensuring leak-proof operation and preventing fluid or gas leakage. With the ongoing evolution of the automotive industry towards more advanced, fuel-efficient, and environmentally friendly vehicles, the demand for high-performance gaskets continues to rise.

·      Additionally, the increasing production of electric vehicles (EVs) has opened new opportunities for gaskets in battery packs, powertrains, and other critical systems.

In aerospace, gaskets are used in engines, hydraulic systems, and fuel systems to prevent leaks and ensure safe and efficient operation at high altitudes. The consistent growth in global air traffic and the expansion of airline fleets further drive the demand for gaskets in the aviation sector. Moreover, the increasing need for more efficient and sustainable transportation solutions worldwide, coupled with innovations in manufacturing techniques and materials, is expected to drive further adoption of gaskets across various transportation sectors.

·      As the transportation industry remains at the forefront of technological advancements, such as electric propulsion systems and fuel-efficient engines, the need for high-quality, durable, and reliable gaskets in various transportation modes will continue to fuel market growth. The ongoing demand for vehicles and transportation systems with reduced emissions and improved fuel efficiency ensures that the transportation sector will maintain its leadership position in the gaskets market for the foreseeable future.

To know the most attractive segments, click here for a free sample of the report:

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Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that the Asia-Pacific is expected to remain the largest market. This growth outlook is majorly attributed to the following–

-      The Asia-Pacific is expected to be both the dominant and the fastest-growing market for gaskets during the forecast period due to several key factors driving rapid industrialization, urbanization, and technological advancements across countries in this region.

-      Asia-Pacific is home to some of the largest and most rapidly expanding automotive markets, particularly in countries like China, India, Japan, and South Korea. The growing production of vehicles, both traditional internal combustion engine (ICE) vehicles and electric vehicles (EVs), is generating significant demand for high-quality gaskets in automotive engines, exhaust systems, powertrains, and battery packs. The shift towards more fuel-efficient and environmentally friendly vehicles, along with increasing consumer demand for cars, is further fueling this growth.

-      Additionally, Asia-Pacific is a hub for manufacturing and industrial activities, which rely heavily on gaskets for various applications, including machinery, processing, and power generation. Countries like China, India, and Japan are experiencing continuous growth in their industrial sectors, with a notable increase in energy production, power plants, and infrastructure projects, all of which require durable gaskets to maintain efficient operations and ensure safety.

-      In addition to that, the rapid expansion of infrastructure development, particularly in emerging economies like India and China, is also contributing to the region's dominant position in the gaskets market. Large-scale construction projects, particularly in the transportation, energy, and power sectors, are driving the demand for gaskets used in pipelines, HVAC systems, and other critical infrastructure components.

Gaskets Market Drivers:

Some of the key drivers listed in the report are given below.

-         The continuous expansion of key end-use industries, which require reliable sealing solutions for their systems. In particular, the automotive industry’s shift towards advanced engine technologies, the growing demand for energy-efficient systems, and the expansion of the oil and gas sector have significantly contributed to the market’s growth.

-         Furthermore, rising environmental concerns and stricter regulations regarding emissions and energy consumption have pushed industries to adopt high-performance sealing technologies, including gaskets, to improve efficiency and meet regulatory standards.

-         Increasing manufacturing automation, advancements in materials science that enhance the durability and flexibility of gaskets, and the rising demand for electric vehicles (EVs), which require specialized gaskets for battery packs and powertrain systems. As industries evolve, gaskets continue to play a crucial role in ensuring the optimal performance of critical machinery and infrastructure, leading to sustained market demand in the coming years.

Competitive Landscape: Top 10 Companies in the Gaskets Market:

The market is moderately fragmented, with over 20 players. Most of the major players compete on some of the governing factors, including price, service offerings, regional presence, etc. Stratview Research has identified the following companies as the top market players:

-         Dana Inc

-         ElringKlinger AG

-         EnPro Industries

-         Flowserve Corporation

-         Freudenberg Group

-         James Walker & Co.

-         Parker Hannifin Corporation

-         Tenneco Inc. (Federal-Mogul)

-         Trelleborg AB

-         Uchiyama Group

What Unique Insights Does This Report Offer?

This report provides comprehensive insights into the market, answering critical questions like

-      How big is the sales opportunity?

-      Which regions offer the best sales opportunities?

-      Which are the most attractive market segments?

-      Which are the top players and their market positioning?

-      How complex is the business environment?

-      What are the factors affecting the market?

For Customization or Any Other Queries, get in Touch with our industry experts at sales@stratviewresearch.com

Related Reports:

-      Aircraft Gaskets Market

-      Automotive Gaskets Market

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Stratview Research is a global market research and consulting firm that highly specializes in IT & telecom, aerospace & defense, chemicals, and a few other industries.

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