Stratview Research

Turbocharger Market – Latest Trends, Forecast, and Opportunity Analysis

The global turbocharger market in the transportation industry offers a robust growth opportunity and is likely to witness a double digit growth of 10.8% (CAGR) during the forecast period of 2016 to 2021. Growing vehicle production coupled with the requirement for automakers to meet global environment emission and fuel efficiency regulations are the prime drivers of the turbocharger market. Increasing penetration / installation rates of turbochargers in the gasoline engine powered vehicles is the driving force of the market during the forecast period.

The fuel efficiency and environment emission regulations in many developed and developing countries are putting pressure on automakers to either reduce the vehicle weight or downsize the engine to achieve the targets. The Automakers are downsizing engines to satisfy the stringent global fuel economy and emission regulations and customer demand for better performing vehicles. Turbochargers help downsized engines improve fuel economy by 20% to 40% as compared to larger, naturally aspirated engines.

Insights by technology type:- Variable geometry turbocharger (VGT), also known as variable nozzle turbine (VNT) is the most widely used turbocharger worldwide. VGT / VNT is more efficient than traditional wastegate turbochargers and will continue to gain market share during the forecast period. VGT / VNT is well suited both for diesel as well as gasoline powered engines.

Insights by region:- Asia-Pacific is likely to remain the largest market for turbochargers in the next five years, driven by demand in emerging economies, such as China and India. China is the world’s fastest growing automotive market and is projected to increase the turbocharger installation rates in its new vehicles from current 28% to 49% in the year 2021. This will lead to almost twofold increase in the demand of turbochargers in China in a span of five years.

North America is another growing market for turbochargers, driven by the demand for light weighting and engine downsizing in new vehicles to meet the CAFÉ standards. European turbochargers market is likely to witness a modest growth in the next five years. This region owns the world’s largest turbo diesel fleet and the highest turbocharger installation rates worldwide.

Most of the major turbocharger manufacturers have already set up their manufacturing plants in China to tap the regional growth potential. India, Japan, and South Korea have also joined the row and are projected to increase installation rates of turbochargers in the new vehicles. Apart from China, significant demand of turbochargers is expected to be generated from these countries in the next five years.

Transportation industry stakeholders are continuously trying hard to address the challenges related to the turbochargers, which are production of cost effective turbochargers without sacrificing its performance and mitigating the noise generated by turbochargers.

The supply chain of this market comprises raw material suppliers, turbocharger component manufacturers, turbocharger manufacturers, distributors, and Automotive OEMs. The key On-highway OEMs are Daimler, General Motors, Toyota, Nissan, and Ford and the key off-highway OEMs are Caterpillar, Hitachi Construction Machinery, Komatsu, Hitachi Construction Machinery, Hyundai Heavy Industries, and Volvo Construction Equipment.

The global turbocharger market in the transportation industry is a highly consolidated market. The key turbocharger manufacturers are Honeywell International, Cummins, Continental AG, BorgWarner, Mitsubishi Heavy Industries, and IHI Corporation. New product development, custom product offering, and regional expansion are the key strategies adopted by the key players to gain competitive edge in the market.

Source:– https://www.stratviewresearch.com/138/turbocharger-market.html

Automotive Adaptive Cruise Control System Market – Latest Trends, Forecast, and Opportunity Analysis

Adaptive cruise control is an advanced system that automatically adjusts the speed of a car to maintain a safer distance from the preceding vehicles. The system can increase or decrease the car’s speed in order to maintain a safer distance. Many cars are now also equipped with Stop and Go function that can slow and stop in traffic jams and then accelerate to go again.

The adaptive cruise control system market in the automotive industry is expected to offer an excellent growth over the next five years. An increasing number of collision on the road, rising disposable income, awareness among people regarding safety, and advancement in research & technology are some of the major growth drivers of the global automotive adaptive cruise control system market. Additionally, increasing demand for premium and luxury cars is also propelling the growth of adaptive cruise control system in the automotive industry. Some companies have also started to deploy this system in mid-range cars to fulfill customer’s safety preferences.

Insights by Vehicle Type: The automotive adaptive cruise control system is segmented based on vehicle type: passenger vehicle, light commercial vehicle, and medium & heavy duty commercial vehicle. Passenger vehicle is expected to remain the most dominant vehicle type during the forecast period. This vehicle segment is also likely to grow at the fastest rate during the same period, driven by an increase in demand of autonomous driving with high passenger safety in premium and luxury cars.

Insights by Sensor Type: The global automotive adaptive cruise control system is categorized based on sensor type: infrared, laser or LIDAR, radar, ultrasonic and image sensors. LIDAR sensors based adaptive cruise control system is expected to remain the most dominant technology type in the global automotive industry over the next five years. The segment is also likely to witness the fastest growth during the same period.

Insights by end-use type : In terms of the end-use type, OEMs are expected to remain the largest consumer of the adaptive cruise control system in the global automotive industry over the next five years. The segment roughly consumed more than 90% of the market in 2015 in terms of value. Both the end-use segments (OEM and aftermarket) are likely to experience impressive growth over the next five years.

Insights by Region : Based on region, the global automotive adaptive cruise control system market is divided into North America, Europe, Asia-Pacific and Rest of the World. Europe and North America are the biggest markets and are also the home continent of most of the adaptive cruise control system suppliers. Shift towards better lifestyle and preference for high-end cars are driving the demand for advanced cruise control system in developing economies.

Key manufacturers of the adaptive cruise control system in the automotive industry are Denso Corporation, Magna International Inc., Mando Corporation, Valeo SA, ZF TRW Automotive, Autoliv Inc., Hyundai Mobis Co. Ltd., Robert Bosch GmbH, Delphi Automotive PLC, Continental AG, Delco Electronics, Hitachi Ltd., Nissan motor Company, Siemens VDO and Bendix. New product development, advancement in technology, and collaboration with OEMs are some of the key strategies adopted by the major players to gain a competitive edge in the market.

Source:– https://stratviewresearch.com/136/automotive-adaptive-cruise-control-system-market.html

Automotive Blind Spot Detection System Market to reach US$ 3.0 billion in 2022

Automotive Blind spot detection system market is projected to witness an impressive double digit CAGR of 12.4% over the next five years and reach US$ 3.0 billion in 2022. Increased demand for safety solutions, the introduction of more stringent government programs, advancement in technology, and increasing production of luxury vehicles are the key factors that are directly contributing to the increasing demand for blind spot detection system in the automotive industry.

Insights by Vehicle Type:- Global automotive blind spot detection system is segmented based on vehicle type: passenger car, light commercial vehicle, and medium & heavy duty commercial vehicle. The passenger car segment is expected to remain the largest blind spot detection market over the next five years. The vehicle type is also projected to witness the fastest growth in the same period. Increasing demand for active safety systems including blind spot detection in the luxury cars is driving the vehicle segment. All major luxury car manufacturers, such as BMW, Mercedes-Benz, and Audi are incorporating a higher amount of advanced safety features including blind spot detection in their models.

Insights by Technology Type:- Based on the technology type, the automotive blind spot detection system market is segmented as Radar, Ultrasonic, LIDAR, and Other Sensors. The radar sensor is expected to remain the perennial choice of the sensor in the global automotive blind spot detection system during the forecast period and is also projected to witness the fastest growth in the same period. Radar provides 360-degree coverage around the car, hence, making it the most effective sensor for the blind spot detection system.

Insights by End-User Type:- OEM is expected to remain the largest end-user type in the global automotive blind spot detection system market over the next five years. This end-user type currently holds more than 90% of the global market in 2016. OEM is expected to remain act as a growth engine of the global automotive blind spot detection market, driven by high demand for BSD systems in the luxury vehicles.

Insights by Region Type:- Based on the region, the global automotive blind spot detection system market is segmented into four regions as North America, Europe, Asia-Pacific and Rest of the World. Europe and North America are the biggest markets of automotive blind spot detection system as both are the homes of major blind spot detection system manufacturers and manufacturing capitals of luxury cars. Additionally, the introduction of more stringent programs, such as The United States New Car Assessment Program (US NCAP) is supporting the demand for advanced safety features in the automobiles including blind spot detection. Asia-Pacific is projected to witness the fastest growth during the forecast period, driven by Japan, China, and India. Increasing production of luxury vehicles and improving safety standards and measures taken by the government to mitigate road accidents would continue driving the demand for blind spot detection in the region.

Continental AG, Denso Corporation, Robert Bosch, Delphi Automotive, and Autoliv Inc. are the dominant players in global automotive blind spot detection system market. Other manufacturers include ZF TRW, Xiamen Autostar Electronics, Auto-i Corp, Valeo S.A., Ficosa International, and Preco Electronics. New product development, advancement in technology, and collaboration with OEMs are the key strategies adopted by the key players to gain a competitive edge in the market. Source:– https://stratviewresearch.com/135/automotive-blind-spot-detection-system-market.html

Automotive Head-Up Display (HUD) Market to reach US$ 1.75 billion in 2022

The global automotive head-up display market is projected to grow at an impressive double-digit CAGR of 22.4% over the next five years to reach US$ 1.75 billion in 2022. Rising demand for high-end luxury and mid-size cars with advanced safety features including head-up displays, increasing use of smart phones and navigation systems, introduction of more stringent government regulations regarding safety, continuous reduction in the price of head-up displays, advancement in the technology, and an organic growth in the automobile production are major growth drivers of the global head-up display market in the automotive industry.

Insights based on vehicle type:- The global automotive head-up display market is segmented based on vehicle type: luxury cars, sports cars, mid-segment cars, and basic-segment cars. Luxury car is projected to remain the largest segment in the global automotive head-up display market during the forecast period of 2017 to 2022. All major luxury car manufacturers, such as BMW, Mercedes-Benz, and Audi are incorporating the head-up display into some of their models. These luxury car manufacturers are also working with the head-up display manufacturers to introduce these systems into their mid-segment cars. This will drive the demand for head-up displays in the mid-segment cars in the coming five years.

Insights based on product type:- The global automotive head-up display market is further segmented based on product type as windshield and combiner. Windshield projector is expected to remain the largest product type in the global automotive head-up display market during the forecast period, driven by higher use in the luxury vehicles. Both projector types (windshield and combiner) are likely to witness the double-digit growth rates over the next five years, however, combiner projector based head-up display is expected to grow at a much higher rate in the same period, propelled by its low cost and smaller in size.

Insights based on end user type:- OEM is expected to remain the largest end-user type in the global automotive head-up display market over the next five years, driven by increasing adoption from luxury to mid-segment carmakers. There is also a good growth expected in the aftermarket in the same period.

Insights based on region:- North America is expected to remain the most dominant market in the global automotive head-up display during the forecast period, driven by increasing adoption of HUDs in the new models. There are more than 40 vehicle models available in the United States with standard or optional head-up displays, up from 10 models seven years ago. Asia–Pacific is projected to register the highest growth in the global automotive head-up display market in the same period. China, Japan, South Korea, and India are the largest producers of automobiles in this region. These countries are expected to drive the demand for head-up displays in the region over the next five years.

Nippon Seiki Co., Ltd., Continental AG, Denso Corporation, Visteon Corporation, Yazaki Corporation, Pioneer Corporation, Panasonic Corporation, Robert Bosch GmbH, Delphi Automotive Plc, and MicroVision Inc. are the well-known manufacturers of head-up displays for the automotive industry. An excellent growth in the market is attracting other players to enter the market. Advancement in technology, development of cost-effective solutions, and collaboration with OEMs are some of the key strategies adopted by major companies to gain a competitive edge over others.

Source:– https://www.stratviewresearch.com/272/automotive-leaf-springs-market.html

Automotive Leaf Spring Market to reach US$ 5.8 billion in 2024

A leaf spring is a spring comprising leaves and is commonly used for suspension in the wheeled vehicles. It is a semi-elliptical arm consisting of one or more leaves, which are strips of steel or other materials that are meant to flex under pressure yet maintain their original shape when not under pressure. Leaf springs are one of the oldest suspension components and are still being used in most of the LCVs and MHCVs. There is another type of spring called coil spring, which has a widespread usage in passenger cars.

Over a period of time, the automotive industry has witnessed a remarkable transition in the leaf spring technology, material, style, design, etc. There are countless styles of leaf-spring suspension available worldwide featuring different mounting points, shapes, and sizes. At the same time, there are a lot of R&D activities happening for the development of lightweight alternatives of heavier steel leaf springs. Composite leaf springs are the outcome of these activities, offering significant weight saving advantage over steel springs without sacrificing performance.

The next five years for the leaf spring market in the automotive industry seems attractive with significant growth opportunities in both, OE as well as aftermarket segments. The market for automotive leaf springs is set to reach an estimated value of US$ 5.8 billion in 2024, witnessing a healthy growth in the coming years. Several factors are bolstering the demand for leaf springs. Among which, rising production of LCVs and MHCVs is the biggest growth factor contributing to a greater demand for leaf springs. Other noticeable driving factors are advancements in the leaf spring technology, such as parabolic leaf springs; greater demand for lightweight springs, especially composite leaf springs; and rising automotive fleet.

The major leaf spring manufacturers are strategically focusing on the development of advanced leaf springs in order to remain a leading player in this fiercely competitive market. For instance; metal leaf spring manufacturers are advancing their product portfolio by introducing parabolic springs, whereas composite leaf spring manufacturers are trying to develop composite leaf springs for heavy-duty commercial vehicles.

Weight reduction is one of the mega trends in the automotive industry. It can be achieved primarily through the introduction of better materials, design optimization, and better manufacturing processes. Selection of any material for an application is based on the relative cost as well as the strength of the material. There are several advanced materials available with light-weighting advantage. Composite materials are one of them with elastic strain energy, better fatigue resistance, and higher strength-to-weight ratio compared to steel. It provides significant weight reduction with adequate improvement in the mechanical properties and is one of the best replacement materials for conventional steel.

Insights based on material type :- Based on the material type, the market is segmented into steel springs and composite leaf springs. Steel leaf spring is expected to remain the larger spring type in the next five years; however, composite spring is likely to witness the higher growth for the same period. Composite springs offer excellent strength-to-weight ratio, fatigue resistance, and natural frequency and are about five times more durable than a steel spring. Internal damping in the composite materials leads to excellent absorption of vibration energy within the parts, resulting in, a reduced transmission of vibration noise to the neighboring structures.

Insights based on vehicle type:- Based on the vehicle type, the market is segmented into passenger car, LCV, MHCV, and others. MHCV dominates the market in terms of value and is likely to maintain its dominance in the coming five years as well. Large production base of MHCVs coupled with high penetration of leaf springs in MHCVs and large MHCV fleet are the key whys and wherefores behind the dominance of MHCVs in the market.

Insights based on region :- In terms of region, Asia-Pacific is expected to remain the largest market for leaf springs in the foreseen future, because of increasing production of MHCVs in the developing Asian economies, such as China and India. China, Japan, and South Korea are likely to remain the major markets in the region; however, India is likely to be the new growth engine of the region’s market in the coming five years. Several automakers are eyeing on the Indian market and have huge plans to open manufacturing plants in the country in order to leverage the benefits offered by the government under several manufacturing boost initiatives, such as Make in India. Europe and North America, other major markets, are also likely to have a positive outlook in the coming five years. The USA and Mexico are likely to be the major markets in North America, whereas Russia, Germany, and France are the major markets in Europe.

The supply chain of this market comprises raw material suppliers, leaf spring manufacturers, distributors, Automotive OEMs, and Dealers. The key automotive OEMs are Daimler, Navistar, GM, Volvo, MAN, Tata Motors, Peterbilt, and Toyota. The automotive leaf spring market is highly fragmented with the presence of more than 100 global and regional players catering to different requirements of the industry. It is found that a handful of metal leaf spring manufacturers have the capability to manufacture composite leaf springs. The key leaf spring manufacturers are Rassini, Hendrickson, Jamna Auto Industries, Dongfeng Motors, and IFC Composite. New product development, capacity expansion, formation of strategic alliances are the key strategies adopted by the key players to gain a competitive edge in the market.

Source:– https://www.stratviewresearch.com/272/automotive-leaf-springs-market.html

Power Sports Market- Forecast, Trend & Industry Analysis

The global power sports market promises a healthy growth opportunity and is likely to witness healthy growth during the forecast period of 2018 to 2023. Recovery of the global economy and increasing disposable income are the major drivers of the power sports market.

Insights by vehicle type:- Power Sports market is segmented on the basis of vehicle types; All-Terrain Vehicles (ATV), Side by Side Vehicles (SSV), Personal Watercrafts (PWC), Snowmobiles, Heavyweight Motorcycles (Above 600CC), and Others. Side by Side vehicles offer many advantages over ATVs, such as better riding experience, rollover protection bars, and ease of mobility. In the last ten years, off-road industry has noticed a continuous shift in demand from ATVs to Side by Side vehicles.

Insights by region:- The market of all the major power sports vehicle types, such as ATVs, SSVs, PWCs, snowmobiles, and heavyweight motorcycles (>600CC) is heavily dependent on the performance of the North American region. This region is expected to remain the largest market for power sports in the next five years. The US is the growth engine of the North American as well as the global power sports market. The US alone accounted for more than 50% of the global power sports market. Asia-Pacific is a very small market but is likely to witness the fastest growth during the forecast period, driven by the high demand for power sports.

The supply chain of this market comprises raw material suppliers, component manufacturers, power sports vehicle manufacturers, and distributors. The key power sports vehicle manufacturers are Polaris Industries, Honda Motors, Yahama Motors, John Deere, Kubota Corporation, Harley Davidson, Arctic Cat Inc., BRP Inc., and Kawasaki Motors. New product development, vast product portfolio, in-house key component manufacturing, and presence in the key markets are the key strategies adopted by the key players to gain competitive edge in the market.

Source:– https://www.stratviewresearch.com/120/power-sports-market.html

Composite Frac Plugs and Frac Balls Market – Forecast, Trend & Industry Analysis

Composite frac plugs and frac balls are designed to provide zonal isolation of a wellbore between multistage stimulation treatments during the hydraulic fracturing. These composite balls and plugs are made from glass fiber and epoxy or phenolic resin and are easier to mill out than metal plugs and balls. They can withstand higher pressure and temperature than traditional plastic and dissolvable salt balls.

Frac plugs are generally in the range from 4.5 to 5.5 inches in diameter and 22 to 30 inches in length, whereas frac balls typically measure from 1.0 to 5.75 inches in diameter. A single wellbore requires 10 to 40 multi-part frac plugs to pressurize and perforate multiple oil and gas producing layers, also known as stages. The volatility in crude oil prices adversely impacted the demand for composite frac plugs and frac balls. Many oil & gas explorations have been shut down due to the decreased oil prices.

Despite the short-term fluctuations in composite frac plugs and frac balls demand in North America caused by dropping new shale oil & gas rig activities that is a result of the decreasing crude oil prices, the long-term business outlook seems promising with good growth potential in the foreseen future.

The global composite frac plugs and frac balls market offers healthy growth opportunity during the forecast period of 2018 to 2023. Recovery of oil & gas exploration activities, mammoth shale gas reserve in different parts of the world, especially in the USA, and superior performance of composite frac plugs and balls over their rival are the major factors burgeoning the growth of the market. Both, composite frac plugs and frac balls, are expected to experience similar growth in the next five years, driven by increasing use of composites frac balls and plugs in the onshore oil & gas application.

The supply chain of this market comprises raw material manufacturers, composite frac plug and frac ball manufacturers, drilling contractors, EPC contractors and operators (oil & gas companies). The key oil & gas service companies are Baker Hughes, Halliburton (Houston), Schlumberger (Houston) and Weatherford International (Zug, Switzerland). The key oil & gas companies are British Petroleum, Shell, Exxon Mobil, Chevron, and ConocoPhillips.

The key composite frac plug and frac ball manufacturers are Baker Hughes, Magnum Oil Tools, The Gund Co, Team Oil Tools, and Downhole Composites. New product development, collaboration with customers, and regional expansion are the key strategies adopted by the major players to gain a competitive edge in the market.

Source:– https://www.stratviewresearch.com/365/Composite-Frac-Plugs-and-Frac-Balls-Market.html

Automotive Composite Liftgate Market to reach of US$ 1,183.3 million in 2024

Liftgate is generally made of steel by auto OEMs themselves; however, with the advent of lightweight components, composites have been in limelight and have already become successful in making a remarkable presence in liftgate of vehicles. Composites play a vital role in contributing to weight reduction without compromising the strength and performance of the overall system. This is attracting tier players as well as raw material suppliers including resin, fiber, and coating suppliers, to tap the growing opportunity of composites in the automotive liftgate market.

Composite liftgate is among the list of few automotive components that are experiencing staggering growth. Composite liftgate account for less than one-fifth of the overall liftgate market at present but forays huge growth potential in the coming years. Stringent regulations imposed by governments of many countries are putting pressure on the automakers to curb the overall vehicle weight to increase fuel efficiency or reduce carbon emissions. Liftgates could not escape itself from such regulations and experienced a significant change in the selection of materials over the period.

The global composite liftgate market is likely to experience excellent growth over the next five years to reach an estimated value of US$ 1,183.3 million in 2024. Increasing automotive production, increasing share of SUVs in the overall vehicle production, and increasing demand for lightweight liftgate over bulky metallic liftgate are some of the key factors proliferating the growth of the automotive composite liftgate market. Ford Motor Company, Nissan Motor Co. Ltd., BMW AG, Groupe Renault, Group PSA, and The Volvo Group are some of the major OEMs that have switched towards composite liftgate in some of their mass-selling vehicle models.

Insights based on vehicle type:- The market is segmented based on the vehicle type as Hatchback, SUV, and Others. Hatchback is likely to remain the most dominant vehicle type segment over the next five years; however, SUV is likely to be the fastest-growing segment during the same period. Renault Clio and Megane; Peugeot 308 and 508; and BMW i3 are some key hatchback models that contain composite liftgate.

Insights based on manufacturing process type:- The market is segmented based on the manufacturing process type as Injection Molding, and Compression Molding. Injection molding is expected to remain the most dominant manufacturing process over the next five years, whereas compression molding is likely to experience higher growth during the same period. Sheet molding compound (SMC) and long-fiber-reinforced thermoplastic (LFRT) compounds are the major types of composites being processed for fabricating composite liftgate.

Insights based on region:- Based on regions, Europe is expected to remain the largest automotive composite liftgate market during the forecast period. European OEMs, such as Group PSA, Groupe Renault, and BMW AG, have been early movers in adopting composite liftgate, which led to the dominance of region in the global market.

Asia-Pacific is likely to be the fastest-growing region in the global automotive composite liftgate market, driven by China. Despite weakening economic growth of China, the country is still able to attract investments from automakers. All the major global automakers are rolling out their assembly plants in the country in order to serve both, growing the local demands as well as target export market. This is also imprinting a huge impact on the overall market dynamics of liftgates as well as composite liftgates as the country is gradually becoming the major market for composite liftgates.

The supply chain of this market comprises raw material suppliers, composite compound suppliers, composite liftgate manufacturers, automotive OEMs, and dealers. Major automotive composite liftgate manufacturers are Plastic Omnium Group, Magna International Inc. and Trinseo S.A. Development of lightweight composite liftgates, targeting untapped vehicle models, execution of mergers & acquisitions, and formation of long-term contracts with OEMs are the key strategies adopted by the major players to gain a competitive edge in the market.

Source:– https://www.stratviewresearch.com/446/Automotive-Composite-Liftgate-Market.html

Aircraft Engine Seals Market to Reach US$ 391.9 million in 2023

The Aircraft Engine Seals Market: Highlights

The Aircraft Engine Seals Market is projected to grow at a healthy growth over the next five years to reach US$ 391.9 million in 2023. Engine is the most dominant application area of seals in an aircraft and accounts for more than 35% of the total aircraft seals market. Increasing production rates of key aircraft programs, such as B737, B787, A320, and A350XWB; increasing demand for lightweight aircraft engine seals; growing need for reducing engine maintenance requirements, an increased demand for improving fuel efficiency; and rising aircraft fleet size are the major factors that are burgeoning the demand for seals in the aircraft engine market.

Aircraft Engine Seals Market – insights by Aircraft Type:

The Aircraft engine seals market is segmented based on the aircraft type as Commercial Aircraft, Regional Aircraft, Helicopter, Military Aircraft, and General Aviation. Commercial aircraft is expected to remain the growth engine of the aircraft engine seals market during the forecast period of 2018 to 2023. Increasing commercial aircraft deliveries to support rising passenger traffic, introduction of fuel-efficient next-generation aircraft, advancement in turboprop engines and propulsion systems, and rising commercial aircraft fleet size across regions are the key factors propelling the demand for seals in the segment.

Aircraft Engine Seals Market – insights by Application Type:

The aircraft engine seals market is segmented as Nacelle, Oil & Fuel System, Fan Blade, Combustion & Exhaust Section, and Others. Seals are used in a wide spectrum of engine applications including fan blade, pylon seals, thrust reverser, fan cowls, heat exchanger, bleed air seals, fire seals, air inlet seals, vane grommets elastomeric gaskets, shaft seals, metering units, valves, and filters. Nacelle is expected to remain the most dominant application segment of the market during the forecast period.

Aircraft Engine Seals Market – insights by Material Type:

The aircraft engine seals market is segmented as Polymer Seals, Composite Seals, and Metal Seals. Polymer seal is likely to remain the largest segment of the aircraft engine seals market during the forecast period, whereas composite seal is expected to witness the highest growth during the same period. Metals seals, another considerable segment, are increasingly being replaced with polymer and composite seals.

Aircraft Engine Seals Market – insights by Region:

North America is expected to remain the largest aircraft engine seals market during the forecast period, whereas Asia-Pacific is expected to experience the highest growth during the same period. Higher growth of aircraft engine seals market in Asia-Pacific is mainly attributable to the increasing aircraft fleet to support rising passenger traffic; opening of assembly plants of Boeing and Airbus for B737, A320, and A330 aircraft programs; increasing procurement of military aircraft, owing to rising defense budget; and upcoming indigenous commercial and regional aircraft (C919 and MRJ).

The supply chain of this market comprises raw material suppliers, aircraft engine seal manufacturers, distributors, part suppliers, aircraft manufacturers, and airline companies. Major aircraft engine seal manufacturers are Hutchinson SA, Trelleborg AB, Meggitt Plc, Esterline Technologies Corporation, and Freudenberg Group. Development of optimized aircraft engine seals, regional expansion, and formation of mergers & acquisitions are the key strategies adopted by the major players to gain a competitive edge in the market.

Source:https://www.stratviewresearch.com/338/Aircraft-Engine-Seals-Market.html

Automotive Leaf Spring Aftermarket to reach US$ 1,998.8 million in 2024

Leaf spring is one of the oldest suspension components and is still being preferred in most of the LCVs and MHCVs. Over the eons, the automotive industry has witnessed a remarkable transition in the leaf spring technology, material, style, design, etc. There are countless styles of leaf-spring suspension available worldwide featuring different mounting points, shapes, and sizes. Leaf spring has to be replaced frequently, generally in 9-12 months, due to the damages like sag, break, and crack, caused by several factors including uneven road and excess load on the vehicle.

The global automotive leaf spring aftermarket is likely to witness a healthy growth rate over the next five years to reach an estimated value of US$ 1,998.8 million in 2024. Increasing automotive fleet size is the key driver of the leaf spring aftermarket in the automotive industry. Organic growth in automobile production, owing to increasing disposable income and growing urbanization, is also imprinting a positive impact on the future demand for leaf springs in the aftermarket segment in the automotive industry.

Insights based on vehicle type:- The global leaf spring aftermarket is segmented based on the vehicle type as Passenger Car, LCV, M&HCV, and Other Vehicles. M&HCV is expected to remain the growth engine of the aftermarket during the forecast period, owing to a higher penetration of leaf springs in the MHCV segment. Also, there is a more frequent replacement of leaf springs in the vehicle type due to carrying higher loads.

Insights based on spring type:- Based on the spring type, the aftermarket is segmented as parabolic leaf spring and multi-leaf spring. Multi-leaf spring is expected to remain the dominant spring type in the aftermarket during the forecast period, whereas parabolic leaf spring is expected to experience a higher growth during the same period.

Insights based on location type:- Based on the location type, the aftermarket is segmented as front suspension and rear suspension. The rear suspension is expected to remain the most dominant segment of the aftermarket during the forecast period. High penetration of leaf spring in the rear suspension of LCV, M&HCV, and trailers drives a higher replacement demand for leaf springs. Both front and rear leaf suspension are expected to experience similar growth rates with a marginal difference over the next five years.

Insights based on region:- In terms of regions, Asia-Pacific is expected to remain the largest leaf spring aftermarket during the forecast period, owing to an increased vehicle production and growing fleet size, which, in turn, is driving the demand for leaf springs in the region over the next five years. The region is likely to experience an impressive growth during the same period. China and India are the growth engines of the Asia-Pacific’s aftermarket for leaf springs.

The global automotive leaf spring aftermarket is highly fragmented with the presence of many global as well as regional players. The automotive OE market for leaf spring is relatively consolidated with the presence of fewer regional players. The supply chain of this market comprises raw material suppliers, leaf spring manufacturers, automotive OEMs, distributors, and dealers. The key automotive leaf spring suppliers for the aftermarket are Hendrickson International, NHK Springs Co., Ltd., Jamna Auto Industries, Rassini, and Dongfeng Motor Suspension Spring Co., Ltd. These companies are also present in the OE segment. Development of low-cost leaf springs and formation of strategic alliances with OEMs are the key strategies adopted by the key players to gain a competitive edge in the market.

Source:– https://www.stratviewresearch.com/454/Automotive-Leaf-Spring-Aftermarket.html