VEHICLE SEALING STRIP MARKET ANALYSIS

Vehicle Sealing Strip MarketSize and Trends

Surge In Demand For IC And Electric Vehicles Across The Globe Is Expected To Aid In Growth Of The Global Vehicle Sealing Strips Market.

Increase in demand for passenger as well as commercial vehicles in several emerging economies across the globe is expecting to be a major factor influencing growth of the global vehicle sealing strip market over the forecast period (2019-2027). The growing demand for passenger vehicles is attributed to increase in purchasing power of middle class population in emerging economies such as China and India. Furthermore, growing demand for electric vehicles across the globe owing to favorable policies put forward by governments of various economies is expected to drive growth of the vehicle sealing strips market over the forecasted period. According to International Energy Agency report, sales of electric vehicles increased by 63 % in 2018 compared with sales of EVs in 2017. Moreover, growing demand for commercial vehicles across the globe is also facilitating growth of the global vehicle sealing strip market.

Furthermore, vehicle sealing strips tend to wear out over a period of time owing to opening and closing of doors, windows and sunroofs. As a result, demand for vehicles sealing strips is expected to grow during the forecasted period (2019-2027).