The COVID-19 pandemic has caused supply and manufacturing disruptions in the automotive sector creating uncertainties in every aspect. The change in customer behavior in terms of mobility preferences during this crisis is changing the automotive landscape.
This pandemic situation has shut down many production lines owing to the trade restrictions and closed borders, creating a shortage in required parts and limiting the distribution of supplies. Different enforced measures including the closing of workspaces and dismissal of short-time workers have created a depression in the growth rate of the automotive industry.
The growing fear of recession is estimated to decrease overall sales and revenue. A limited supply of parts coupled with a reduced workforce has forced the leading OEMs to shut down their production. A significant drop in demand has restricted the cash inflow which is highly important in payment of salaries to the workforce. With growing uncertainties around the COVID-19 pandemic, the industry leaders are taking measures to adapt to the situation.
Global Refrigerated Trailer Gaskets Market: Overview
Refrigerated trailer gaskets are used in refrigerated trailers to prevent the leakage of cold air from the trailer. These are installed at the periphery of trailer body doors and vents. A new research report by Persistence Market Research titled ‘Refrigerated Trailer Gaskets Market: Global Industry Analysis 2012-2016 and Forecast 2017-2025’ explores every aspect of the global refrigerated trailer gaskets market and presents a comprehensive report on the market scenario. The report shows that the sale of refrigerated trailer gaskets is highly correlated with the production and demand for refrigerated trailers and dynamics within the cold chain industry. High demand for frozen foods and perishable goods is driving the growth of refrigerated trailers and hence trailer gaskets. The global refrigerated trailer gaskets market is expected to reach a market value of over US$ 30 Mn by the end of 2025. The market is expected to witness a CAGR of 3.9% during the forecast period 2017-2025. This growth has encouraged global trade agencies, associations and organizations focusing on investing in the development of supporting infrastructure for cold chain networks and increased skill level of the workforce, thereby promoting international trade for food and beverages, which in turn would create lucrative growth opportunities for players to leverage upon in the global refrigerated trailer gaskets market.
For in-depth competitive analysis, Check Pre-Book here https://www.persistencemarketresearch.com/checkout/21718
Global Refrigerated Trailer Gaskets Market: Segmental Highlights
- Among the various material types that are used to make refrigerated trailer gaskets, EPDM is expected to dominate the global market with growth at a CAGR of 6.5% during the forecast period and the EPDM market expected to reach a valuation of over US$ 20.8 Mn by the end of 2025.
- On the basis of design, standard design is expected to lead the market with a higher CAGR and market revenue as compared to custom design during the forecast period. The standard design market registered a valuation of over US$ 12 Mn in 2017, which is forecasted to reach over US$ 20 Mn by the end of 2025.
- In terms of configuration, the straight system segment is expected to dominate with a high CAGR and market share during the forecast period. The market analysis indicates that the straight system segment is projected to register a CAGR of 5.4% during the forecast period.
- Among application areas of refrigerated trailer gaskets i.e, doors and vents, the doors segment comes up as a clear winner with a higher CAGR and estimated market valuation as compared to vents. The doors segment is expected to witness a CAGR of 5.1% whereas vents is projected to witness 3.9% CAGR during the forecast period.
- Based on region, North America is anticipated to witness a higher market share as compared to other regional markets, whereas Europe is projected to remain dominant with a higher growth rate during the forecast period.
For detailed insights on enhancing your product footprint, request for a Sample here https://www.persistencemarketresearch.com/samples/21718
Global Refrigerated Trailer Gaskets Market: Competitive Landscape
- Trelleborg AB
- Reddiplex Ltd.
- Conta Flexible Products
- Great Dane
- Mantaline Corporation
- Hebei Shida Seal Group Co., Ltd.
- Stoughton Trailers, LLC
- Advanced Plastic Corp.
- ABCRUBBER INC.
- Lokhen PtyLtd.
- Fermod Ltd.
- Eaget Group Co., Ltd.
Our unmatched research methodologies set us apart from our competitors. Here’s why:
- PMR’s set of research methodologies adhere to the latest industry standards and are based on sound surveys.
- We are committed to preserving the objectivity of our research.
- Our analysts customize the research methodology according to the market in question in order to take into account the unique dynamics that shape the industry.
- Our proprietary research methodologies are designed to accurately predict the trajectory of a particular market based on past and present data.
- PMR’s typical operational model comprises elements such as distribution model, forecast of market trends, contracting and expanding technology applications, pricing and transaction model, market segmentation, and vendor business and revenue model.
Persistence Market Research’s proactive approach identifies early innovation opportunities for clients in the global automotive sector. Our insights on next-generation automotive technologies such as connected cars, automotive emissions control, vehicle-to-vehicle (V2V), autonomous cars, electric and hybrid vehicles, and augmented reality dashboards ensure clients stay at the forefront of innovation.
Our competencies go beyond regular market research to deliver tailored solutions in an industry marked with increasing environment regulations, evolving consumer preferences, and a shifting landscape of emerging markets. We pride ourselves in helping our clients maximize their profits and minimize their risks. Actionable Insights & Transformational Strategies that Help you Make Informed Decisions.
- Shifting Industry dynamics
- In-depth market segmentation
- Historical, current and projected industry size Recent industry trends
- Key Competition landscape
- Strategies of key players and product offerings
- Potential and niche segments/regions exhibiting promising growth
- A neutral perspective towards market performance
There has been a growing trend toward consolidation in the automotive sector, with the output of motor vehicles resting mainly in the hands of a few large companies and smaller independent manufacturers gradually.
Read all Automotive Market Insights here https://www.persistencemarketresearch.com/category/automotive-and-transportation.asp
Our client success stories feature a range of clients from Fortune 500 companies to fast-growing startups. PMR’s collaborative environment is committed to building industry-specific solutions by transforming data from multiple streams into a strategic asset.