Automotive Vents Market Increased Demand Expected to Soar Revenue during Forecast Period 2019 2029

From: Fact.MR
Published: Tue Aug 20 2019

Automotive vents are used to protect vehicle components from water, dust and other fluids. Automotive vents bring stability and reliability for the key components of an automobile. These components require proper venting that reduce heat and protect the component from the entry of foreign material and optimize the balance between airflow and water entry pressure. Automotive vents are widely used in ECUs, auto motors, oxygen sensors and lightings. Most of the automobile parts where automotive vents are used have light emitting components which generate heat. There are various type of automotive vents that are used in different application of automobile such as adhesive vents, TPV vents, vent caps, snap in vents, screw in vents, weldable ePTFE membranes and black adhesive vents for auto lighting. In current scenario, automotive manufacturers are focusing on developing more optimize and innovative products that can increase the life of auto parts.

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Automotive vents provide many benefits to different applications such as electronics parts, lighting as well as powertrain components. The growing demand for electronics in the automobiles is one of the key driver for the growth of Automotive Vents Market throughout the assessment period. With the increasing demand for electronics, the automobile manufacturers are replacing the mechanical components with electronic components that are compact in size, provide aesthetic look to automobiles and also more space in the vehicle. Furthermore, increasing demand for electric vehicles across the globe, increases the uses of electronics in vehicles in order to enhance the experience and also for ease of operations. Additionally, electronic components offers more accuracy as compared to mechanical components as well as light in weight. These are some factors that propel the demand for automotive vents in the global automotive industry. For lighting applications, automotive vents offer reliable barrier protection against dust, dirt and water splashes. Automotive vents also reduces the condensation due to more effective moisture vapor transmission and also can be configure with most typical plastic and metal housing lighting material. Automotive vents also reducing the need for heavier housing, seals and gaskets so component design is less complex which reduces the manufacturing cost of the components and simplified the cross-platform integration. These factors are estimated to boost the growth of the global automotive vents market in the near future.

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Automotive vents market is expected to grow with high growth rate over the forecast period in the developing economies across the globe. Among all the regions, East Asia is expected to hold prominent share in the market due to high production and sales of automobile in the region. In East Asia, China is projected to account dominate share in the market and also drive the growth of the East Asia automotive vents market. In China, the production and sales of compact passenger cars has increased due to reduction in tax on compact size cars. This factor is estimated to boost the growth of East Asia as well as global automotive vents market throughout the assessment period. South Asia including India, ASEAN is expected to growth with high growth rate over the slated time period owing to increase in purchasing power of middle class population in ASEAN countries as well as in India. Moreover, developed economies such as North America and Western Europe are expected to grow with moderate CAGR over the forecast period. In Western Europe, EU-5 nations hold significant share and is expected to drive the growth of Western Europe automotive vents market.

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