Automotive Leaky Oil Seal Market: Introduction
Automotive leaky oil seals are utilized in automotive engines and geared motors, primarily to prevent oil leaks at the ends of rotating shafts and the intrusion of dust particles from outside
Key Drivers of Automotive Leaky Oil Seal Market
- Increasing average age of vehicles owing to growing technological advancements and rise in the average miles driven per vehicle are key factors that are projected to drive the automotive leaky oil seal market during the forecast period. Moreover, growing awareness about road safety among people is likely to boost the average repair & maintenance spending by an individual, which is projected to propel the market. Furthermore, an increase in sales of used cars across several regions is estimated to further augment the global automotive leaky oil seal market during the forecast period.
Restrains in Automotive Leaky Oil Seal Market
- Electric vehicles are replacing vehicles that run on conventional fuels such as diesel and gasoline. This trend is anticipated to act as a major hurdle to the leaky oil seal market. Several government organizations and regulatory authorities around the globe have enacted stringent vehicle regulations and standards pertaining to diesel operated vehicles. This, in turn, has prompted automakers around the globe to announce plans to phase out the production of diesel engine vehicles. This move is likely to restraint the leaky oil seal market.
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- The COVID-19 pandemic has affected national as well as international automotive supply chains, manufacturing and R&D operations and consequently, hampered the automotive industry. Post first wave of COVID-19, global economies have started opening up automotive manufacturing and supply chain operations, thus the COVID impact on the industry have seems to reached a state of normalcy; however, a resurgence in COVID-19 cases in countries across Europe has prompted governments to impose a second round of lockdown restrictions and hence, the uncertainty in the automotive industry continues. A gradual recovery in the demand for automotive and ancillaries is anticipated in the next few months despite concerns around the risk of a second wave of infection in numerous countries.
Opportunities in Automotive Leaky Oil Seal Market
- Growing oil leaks and vehicle recall activity by major automakers is likely to provide significant opportunity for the automotive oil seal market. For instance, in December 2020, Mercedes Benz recalled more than 660,000 vehicles in China for a possible oil leak between high-pressure fuel pump and a low-pressure fuel pipe weakening over time, thus allowing oil to leak when the engine starts in cold weather. Likewise, in November 2020, General Motors issued a recall for about 1.4 million vehicles due to a faulty valve cover gasket that can leak and cause vehicle fires. This is reportedly the third time GM has issued the same recall within seven years, as the remedies carried out during the first two recalls have not worked.
Asia Pacific Region Dominate Automotive Leaky Oil Seal Market
- Asia Pacific to dominate the global automotive leaky oil seal market, owing the high number of automotive oil leak recalls occurring in the region, especially in China, which makes Asia Pacific a dominant region of the global leaky oil seal market. Furthermore, secondhand car sales have been increasing in the region, especially in rapidly developing economies owing to the involvement of leading car domestic and international car companies. The secondhand car industry in China expanded in terms of volume from only 3.34 million units in 2009 to 14.92 million units in 2019, owing to regulation and professionalization. These favorable developments in the region are estimated to make Asia Pacific a major market for automotive leaky oil seal during the forecast period.
Key Players Operating in Automotive Leaky Oil Seal Market
The global automotive leaky oil seal market is fragmented with many players. A few of the key players operating in the global automotive leaky oil seal market are:
- NOK Corporation
- The Timken Company
- Leak Pack
- SKF
- JTEKT Corporation
- NS Bearings
- SSP Manufacturing Inc
- Blue Diamond Technologies Limited
- UK Seals & Polymers Ltd
- NAK Sealing Technologies Corporation
Global Automotive Leaky Oil Seal Market: Research Scope
Global Automotive Leaky Oil Seal Market, by Seal Type
- Engine Seals
- Crankshaft Front Seal
- Crankshaft Rear Seal
- Plug Tube Gasket
- Valve Stem Seal
- Transmission Seals
- Front pump input seal
- Friction Damper
- Bonded Piston Seal
- Differential Gears
- Differential Gear Pinion Seal
- Differential Gear Side Output Seal
- Wheels
- Pack Seal
- Half –rubber seal with side lips
Global Automotive Leaky Oil Seal Market, by Vehicle Type
- Two-Wheelers
- Passenger Cars
- Light Duty Trucks
- Trucks
- Buses and Coaches
Global Automotive Leaky Oil Seal Market, by Sales Channel
- OEMs
- Aftermarket
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