Sales Scenario of Global Refrigerated Trailer Gaskets Market to Stay Positive Through 2025

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.

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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.

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Global Refrigerated Trailer Gaskets Market: Competitive Landscape

  • Trelleborg AB
  • Reddiplex Ltd.
  • Conta Flexible Products
  • Great Dane
  • Mantaline Corporation
  • TODCO
  • Hebei Shida Seal Group Co., Ltd.
  • Stoughton Trailers, LLC
  • Advanced Plastic Corp.
  • ABCRUBBER INC.
  • Lokhen PtyLtd.
  • Fermod Ltd.
  • Eaget Group Co., Ltd.

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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.

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