Market Size of Automotive Window and Exterior Sealing Systems Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 6.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Automotive Window and Exterior Sealing System Market Analysis
The Automotive window and exterior sealing systems market was valued at USD 23 billion in 2021 and is estimated to surpass the net valuation of USD 33.07 billion by 2027 end, registering a solid CAGR of over 6% during the forecast period 2022-2027.
The Covid-19 pandemic had a negative impact on the market as the government imposed several lockdowns resulting in a halt of manufacturing and production units and registering a decline in vehicle sales. For instance, according to OECA, almost 78 million motorized vehicles were produced across the world in 2020, which registered a steep decline of 16% compared to the previous year. Furthermore, the decline in vehicle production resulted in the lesser installation of automotive window and exterior sealing systems.
The market studied is growing, as it is one of the essential safety systems for the vehicle. These sealings are majorly used to protect the interior of the vehicle from pollution, rainwater, and exterior noise. The sealing frames prevent the degradation of glass structures due to water and the occurrence of wind noise. The use of window channels covers shelters and the interior of the vehicle from dirt ingress and noise emission.
The local players have a lot of scope in the aftermarket segment. After the warranty expires, the vehicle owners generally prefer to go to local garages and workshops to get window seals and other related products replaced. The reason for preferring these garages can be attributed to the availability of spare parts and inexpensive, as compared to authorized showrooms.
The rise in the automotive window and exterior sealing systems market is triggered by various factors which cover different aspects. The growing need for transportation due to the increasing population and urbanization leads to demand for vehicles, resulting in the growing demand for automotive window and sealing systems.
The Asia-Pacific region is expected to constitute the largest share in the global automotive window and exterior sealing systems market over the forecast period due to the increased production of automobiles. The availability of low-cost labor and other necessary resources in the region is expected to drive the automotive window and exterior sealing systems market over the forecast period.
