VEHICLE SEALING STRIP MARKET ANALYSIS
Regional Analysis of Global Vehicle Sealing Strips Market
On the basis of region, the global vehicle sealing strips market is segmented into North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
Asia Pacific region held a dominant position in the global automotive vehicle sealing strips market in 2018, and is projected to retain its dominance throughout the forecast period. Furthermore, passenger vehicles are widely used in Asia Pacific, which is a major factor contributing to the market growth in this region. Moreover, Asia Pacific contributes more than half of the total vehicles produced globally. For instance, according to data provided by Organization Internationale des Constructeurs d'Automobiles (OICA) in 2018, Asia Pacific accounts for around 53% of the vehicles produced globally. Moreover, according to same source (OICA) in 2018, 95 million vehicles were manufactured across the globe, out of which, around 52 million were manufactured in Asia Pacific, owing to which demand for vehicle sealing strips is expected to grow in this region over the forecast period.
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