Global Automotive Thermostats and Gaskets Market are segmented Competitive Analysis, Impact of Covid-19, Ansoff Analysis

The rising advent of 3D printing, additive manufacturing, and laser cutting is paving the new ways to bring significant transformation in Global Automotive Thermostats and Gaskets Market

The Global Automotive Thermostats & Gaskets Market is estimated to be USD 26.99 Bn in 2023 and is expected to reach USD 35.47 Bn by 2028 growing at a CAGR of 5.62%.

Thermostats are valves that open and close in response to changes in engine temperature, allowing coolant to flow through the engine when it is needed to maintain optimal operating temperature. Thermostats regulate temperature in a system by controlling the heating or cooling source or deactivating the device or adjusting the fluid flow of heat transfer needed, to maintain the correct temperature. They are commonly used in heating, ventilation, and air conditioning (HVAC) systems, as well as in engines and other machinery where precise temperature control is necessary. Thermostats can be mechanical, electrical, or digital, and come in various sizes and configurations depending on their intended application. Gaskets, on the other hand, are materials or components that are placed between two surfaces to prevent leaks, usually of fluids or gases. They are commonly used in engines, pumps, and pipes, where the joining surfaces are not perfectly smooth and need to be sealed. Gaskets can be made of a wide range of materials, including rubber, silicone, cork, paper, and metal, depending on the requirements of the application.

One of the major drivers of the market is the need for more fuel-efficient vehicles. Automotive thermostats and gaskets play a critical role in controlling engine temperature, which can impact fuel efficiency. Therefore, manufacturers are increasingly turning to specialized thermostats and gaskets to optimize engine performance and reduce fuel consumption. In addition to the driver, there are also several hindrances faced by the automotive thermostats and gaskets market. These include increasing competition from low-cost manufacturers and the complexity of modern engines. The automotive industry is highly competitive, and new players are entering the market with innovative products and technologies, which could impact the market share of established players in the automotive thermostats and gaskets market. On the other hand, there is the growing focus on environmental sustainability. Automotive thermostats and gaskets can help to reduce emissions, which is becoming increasingly important as governments around the world enact stricter regulations related to air quality. Government regulations regarding emissions and fuel efficiency are pushing automakers to develop more efficient engines. Advancements in technology are creating opportunities for the development of more efficient and durable automotive thermostats and gaskets. New materials and manufacturing techniques are being developed to produce these components, improving their performance and reducing their environmental impact. The incline towards electric vehicles is also impacting the automotive thermostats and gaskets market. While electric vehicles do not have traditional engines that require thermostats and gaskets, they do require cooling systems to maintain battery temperatures. As such, there is an opportunity for manufacturers to develop innovative cooling solutions for electric vehicles. However, the need for on-going research and development to keep up with changing regulations and customer needs is a challenge that all the manufacturers have to face to survive in the market. High cost of maintenance and development will be incurred and may hinder the market growth.

Market Segmentations

• The Global Automotive Thermostats and Gaskets Market are segmented based on Vehicle Type, Application, Sales Channel and Geography.
• By Vehicle Type, the market is classified into Passenger Vehicle, Light commercial vehicle and Heavy commercial vehicle.
• Passenger vehicles are typically used for personal transportation and are more affordable and convenient for most consumers. As a result, they tend to have higher sales volumes than commercial vehicles. On the other hand, the light commercial vehicle segment is also growing, particularly in emerging economies where small businesses are expanding and demand for last-mile delivery services is increasing. This segment includes vehicles such as vans, pickup trucks, and SUVs that are used for commercial purposes but are also used for personal transportation. The heavy commercial vehicle segment, which includes trucks and buses, is also an important market for automotive thermostats and gaskets. These vehicles are typically used for the transportation of goods and people over long distances and require reliable and efficient engines to operate effectively. The largest market segment in this category is the passenger vehicle segment. This can be attributed to several factors such as the increasing demand for passenger vehicles in developing countries, the rising disposable income of consumers and the growing awareness about vehicle safety and fuel efficiency.
• By Application, the market is classified into Engine, Transmission and Battery.
• The engine is the most important component of any vehicle, and it requires a number of thermostats and gaskets for efficient functioning. The engine has several parts that require gaskets, such as the cylinder head, exhaust manifold, and intake manifold. Thermostats are also essential for regulating the temperature of the engine to prevent overheating or underheating, which can cause significant damage. The engine segment is also the largest market segment due to the increasing demand for fuel-efficient vehicles. Automotive manufacturers are focusing on developing more fuel-efficient engines, and this requires the use of high-quality thermostats and gaskets. These components help to regulate the temperature of the engine, which in turn improves fuel efficiency and reduces emissions.
• By Sales Channel, the market is classified into OEM and Aftermarket.
• The OEM segment refers to the sales of these products to automakers for use in new vehicles, while the aftermarket segment includes sales to consumers for replacement or repair purposes. The largest market segment is the OEM segment. This is because the demand for thermostats and gaskets is largely driven by the production and sales of new vehicles. As the global automotive industry continues to grow and innovate, the demand for these components is expected to increase, particularly in emerging markets where new vehicle sales are expected to rise. Furthermore, automakers have been placing greater emphasis on the use of high-quality components to improve the performance, efficiency, and safety of their vehicles. This has led to an increase in the use of advanced thermostats and gaskets, which are typically supplied by OEMs. In contrast, the aftermarket segment is expected to grow at a slower pace due to several factors. First, consumers tend to delay repairs and replacements until they are absolutely necessary, which can limit the demand for these components. Second, the availability of low-cost alternatives, such as counterfeit or imitation products, can also hinder sales in the aftermarket segment.
• By Geography, the market is classified into the Americas, Europe, Middle East & Africa, and Asia-Pacific.
• Among these regions, the largest segment is Asia-Pacific. This is due to the presence of major automotive manufacturing hubs such as China, Japan, South Korea, and India, which are among the largest automotive markets in the world. The growth of the automotive industry in these countries has led to an increase in the demand for automotive thermostats and gaskets, which are essential components of automotive engines. In addition to this, the increasing disposable income of people in the region, along with the growing urbanization and industrialization, has led to an increase in the demand for automobiles, thereby driving the growth of the automotive thermostats and gaskets market in the region. Furthermore, the increasing focus of governments in the region towards promoting the use of electric and hybrid vehicles has also led to the growth of the market, as these vehicles require advanced thermostats and gaskets to ensure efficient and safe operation.

Recent Development

• Dana Incorporated announced that it will supply the company's 60 AdvanTEK solid rear axles along with cylinder head gaskets for the 2021 RAM 1500 TRX. - January, 2021.
• Sumitomo Riko announced that it will supply cell gaskets for Toyota's new Fuel Cell Vehicle -December, 2020.

Company Profiles

The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are Robert Bosch GmbH, Mahle GmbH, Gates Corp., Dana Inc., etc.

Countries Studied

• America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Ireland, Luxemburg, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
• Middle East and Africa (Egypt, Israel, Qatar, Nigeria, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

• The report presents a detailed Ansoff matrix analysis for the Global Automotive Thermostats and Gaskets Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
• The publisher analyses the Global Automotive Thermostats and Gaskets Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
• Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Automotive Thermostats and Gaskets Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The research report also provides a detailed market size analysis and projections in volume and value terms. The projections are calculated using verified research methodologies.
• Excel data sheet for the market size will also be provided with the report.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter’s 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
• The report includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report includes Self-Assessment Form, which helps customers evaluate their position in the market compared to their competitors.
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Report Highlights:

• A complete analysis of the market, including the parent industry
• Important market dynamics and trends
• Impact Analysis - a comprehensive assessment to confront risk and make strategic & operational decisions to counter the changes in the market environment.
• Market segmentation
• Competitive Analysis: Comparative analysis of competitor
• Historical, current, and projected size of the market based on value and volume
• Market size of the US states
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market