Us Automotive Rubber Parts Market Size By Applications, By Type, By End-User, By Deployment & By Technology 2032
Automotive Rubber Parts Market was valued at USD 27.1 Billion in 2022 and is projected to reach USD 39.7 Billion by 2030, growing at a CAGR of 6.5% from 2024 to 2030.
The U.S. automotive rubber parts market is experiencing significant growth, driven by advancements in electric vehicle (EV) technology and the increasing age of vehicles on American roads. As of 2023, the market was valued at approximately USD 30 billion and is projected to reach USD 45 billion by 2032, growing at a compound annual growth rate (CAGR) of 4.5% during the forecast period.
Several factors contribute to this upward trajectory:
Electric Vehicle Adoption: The rising popularity of EVs has led to increased demand for specialized rubber components, essential for the unique requirements of electric drivetrains and battery systems.
Aging Vehicle Fleet: The average age of vehicles in the U.S. has reached 13.6 years, up from 8.4 years three decades ago. This trend results in higher demand for replacement parts, including rubber components, as older vehicles require more frequent maintenance.
Technological Advancements: Innovations in rubber materials have enhanced properties such as heat and abrasion resistance, making them indispensable in modern automotive applications.
However, the market faces challenges. Economic pressures, including inflation and higher interest rates, have led consumers to defer vehicle maintenance or opt for cost-effective repair solutions. Additionally, global competition has intensified, exemplified by the closure of the Dunlop tire manufacturing plant in Tonawanda, New York, in November 2024, resulting in the loss of 1,500 jobs.
Despite these challenges, the market's future appears promising. The ongoing shift towards electric vehicles and continuous technological innovations are expected to sustain demand for automotive rubber parts. Industry stakeholders are focusing on developing high-performance, durable rubber components to meet the evolving needs of the automotive sector.
In summary, the U.S. automotive rubber parts market is poised for growth, fueled by the EV revolution and an aging vehicle population. While economic and competitive challenges exist, the industry's adaptability and commitment to innovation position it well for the future.
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3M
Bosch
ZF Friedrichshafen
Bridgestone
Sumitomo Electric Industries
Valeo Group
Goodyear Tire & Rubber
Parker-Hannifin
TVS Group
Sumitomo Riko
GAC Component
Kasai Kogyo
ElringKlinger
Changchun Faway Automobile Components
Anhui Zhongding Sealing Parts
Weifu High-Technology Group
SL
Ichikoh Industries
Meiwa Industry
Borgers
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Automotive Rubber Parts Market
Tires
Seals
Hoses
Mounts
Bumpers
Grommets
Passenger Cars
Commercial Vehicles
Electric Vehicles
Luxury Vehicles
Two-Wheelers
Natural Rubber
Synthetic Rubber
EPDM (Ethylene Propylene Diene Monomer)
Nitrile Rubber
SBR (Styrene-Butadiene Rubber)
OEM (Original Equipment Manufacturer)
Aftermarket
Vibration Dampening
Sealing
Insulation
Shock Absorption
Fluid Transportation
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Automotive Rubber Parts Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Automotive Rubber Parts Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Automotive Rubber Parts Market, By Type
6. Global Automotive Rubber Parts Market, By Application
7. Global Automotive Rubber Parts Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Automotive Rubber Parts Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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