LONDON--(BUSINESS WIRE)--Technavio projects the global automotive grommet market to post a CAGR of more than 4% during the forecast period, 2018-2022. The rising demand for automotive in APAC is a key driver, which is expected to impact market growth.
Increasing sales of automotive will push the production of automotive grommets during the forecast period. The demand for passenger cars and commercial vehicles has been increasing substantially in emerging countries, such as China, India, Brazil, and Thailand. Economic development has increased the average household income in these countries which will positively impact the sales of passenger cars and commercial vehicle.
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In this report, Technavio highlights the use of 3D manufacturing process as one of the key emerging trends to drive the global automotive grommet market:
Use of 3D manufacturing process
In the 3D manufacturing process, the material is solidified and joined with the help of advanced computer software to form a 3D object. The technology fuses powder grains or liquid molecules to form solid structures. 3D manufacturing is being researched upon to automate the production of various automotive components to expedite the overall manufacturing process. The use of 3D manufacturing decreases the overall manufacturing time per vehicle and quickens the availability of a model when compared to the conventional manufacturing process.
According to a senior analyst at Technavio for automotive components research, “The Ford Motor Company is researching the use of 3D manufacturing to develop elastomer-based automotive grommets for its Ford Focus Electric and Ford Transit models since 2015. Automotive grommets are mainly used to protect the wiring on the inside of the doors on the Ford Focus Electric.”
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Market segmentation and analysis through 2022
This market research report segments the global automotive grommet market based on application (passenger car and commercial vehicles) and key regions (the Americas, APAC, and EMEA).
In 2017, the global automotive grommet market was led by the passenger car segment which accounted for more than 75% of the market share. In terms of key geographies, APAC emerged as the leading region accounting for 55% of the global automotive grommet market followed by the Americas and EMEA. The market in APAC is expected to increase by a further 2% over the forecast period.
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