Automotive Rubber Molded Components Market is driven by increased adoption of lightweight materials in automobiles and the increasingly stringent emission, safety, and fuel economy norms. The automotive rubber molded components market, in terms of value, is projected to grow at a CAGR of 5.20% from 2015 to 2020, to reach a market size of USD 40.5 Billion by 2020. The study segments the automotive rubber molded components market on the basis of components, material type, vehicle type, and region.
In order to arrive at the market size, in terms of volume, for automotive rubber molded components, the average number of molded components that go into each vehicle category has been identified and multiplied by vehicle production numbers to get the country-level rubber molded components volume. This country-wise market size, in terms of volume, of rubber molded components for each vehicle type is then multiplied with the country-wise average OE price (AOP) of rubber molded components required for each application. This results in the country-wise market size, in terms of value. The summation of the country-wise market gives the regional market and further summation of the regional market provides the global automotive rubber molded components market.
Some of the key industry players which comprise the ecosystem of Rubber Molded Components market are given below:
- OEM’s (Original Equipment Manufacturers) : General Motors Company, Ford Motor Company, Toyota Motor Corporation, Volkswagen AG, Daimler AG, BMW Group, PSA Peugeot Citroën & Others
- Rubber Molded Components Suppliers: Continental AG (Germany), Federal Mogul Corporation (U.S.), Cooper Standard Holdings Inc. (U.S.), Sumitomo Riko Co., Ltd. (Japan), Freudenberg & Co. KG (Germany) & Others
- Raw material suppliers of the materials
- Original Equipment Manufacturers (OEMs)
- Distributors of automotive rubber molded components
- Industry Associations
- Private Equity Firms
Rising raw material prices pose a serious threat to the growth of this market. For instance, EPDM is one of the most versatile and fastest-growing rubber molding materials, and provides excellent resistance to heat, oxidation, ozone, and weather withstanding capacity. However, owing to its high cost, its use in the automotive market is restricted to high-end vehicles. The global automotive rubber molded components market is dominated by major players such as Continental AG (Germany), Federal-Mogul Corporation (U.S.), and Sumitomo Riko Co., Ltd. (Japan), among others. Continental AG is currently the market leader, and has adopted new product development and expansion as key strategies to gain traction in the market.