Valve cover gasket is a mechanical seal that is used to cover the top portion of the engine cylinder head. Valve cover gasket is used to prevent engine oil from leaking as it moves around the rockers, camshafts, and valves. In addition, a valve cover gasket is used to seal the joint between the engine and rocker cover, so as to prevent the failure of the engine in automobiles. This is expected to accelerate the growth of the valve cover gasket market across the globe. Furthermore, a valve cover gasket is an integral part of the complete engine assembly in a vehicle, to prevent leakage in the vehicle assembly.
Market Scope and Structure Analysis
Over the recent years the awareness regarding the maintenance and repairs of the automobile vehicles has significantly enhanced in automobile users across the globe. So, to maintain proper functioning and the efficiency of vehicles, valve cover gasket market is gaining traction in demand from the automobile OEMs and owners. Furthermore the regional transportation authorities are following firm actions to maintain proper and well-functioning on road vehicle fleet which will compel customers to look forward for proper maintenance of their vehicles which will in turn catalyse the valve cover gasket market. Also, the effectiveness and improved performance imparted due to the quality valve cover gasket could promote the market. The valve cover gaskets also prevent the unwanted oil leakage which prevent the automobile parts from severe damage, to ensure and safeguard expensive vehicle parts customers are inclined toward replacement of valve gasket cover. Despite numerous challenges, technological developments in automobile vehicle systems would provide many opportunities for the significant improvements in the automatic valve cover gasket market. The customers are implementing new and more advanced gasket covers in their vehicles to minimize the oil leakage and offer better performance to the automotive vehicle.
COVID-19 Impact analysis
COVID-19 pandemic has negatively impacted the production of various products in the valve cover gasket market attributed to the lockdown in countries worldwide. This has boosted the growth of valve cover gasket market from the last few months and is likely to continue during 2021.
COVID-19 has already affected the sales of valve cover gasket in the first quarter of 2021 and is anticipated to cause a negative impact on the market growth throughout the year.
The major demand for valve cover gasket was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, UK, and China, which are positively affected by the spread of the coronavirus, thereby increasing the demand for valve cover gasket.
Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Valve cover gasket market manufacturers can afford a full lockdown only for a few months, after which the players have to modify their investment plans. For instance, various players in the market halted their production activities for several weeks to reduce the expenses. Whereas few players also adopted employee lay-offs to sustain during the COVID-19 health crisis
Valve cover gasket market are expected to focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19. For instance, provision of sanitizers, maintaining social distancing, as well as ensuring the vaccination of every employee in the company can assist in promoting the health & safety of the workforce.
Top Impacting Factors
In the valve cover gasket market, manufacturers are inclined toward manufacturing efficient and performance – oriented valve gasket covers by using improved materials that have more strength and proper sealing properties. Rise in awareness about the use of valve cover gaskets in automobiles for repair and maintenance of engine leakage across the automotive industry in the developed and developing countries is expected to fuel the demand for valve cover gasket across the world. The increase in demand for light commercial vehicles (LCV) and heavy commercial vehicles (HCV) is expected to boost the growth of the valve cover gasket market. In addition, valve cover gaskets play a major role in reducing oil wastage and in preventing damage to other parts of automobile vehicles. This in turn is expected to be one of the major factors driving the growth of the valve cover gasket market during the forecast period. Certain organic and inorganic strategies are taken up the key players in the market to expand the business.
- Rise in adoption of valve cover gaskets in passenger cars to ensure better performance of cars with respect to proper sealing properties and strength of the engine and vehicle parts is expected to fuel the demand for valve cover gaskets.
- Companies would have to take technology and innovation as a strategic objective of the company to sustain their competitive advantage. Companies have to plan, define, and execute strategy in a way to develop required capabilities to meet customer and stakeholders' desires. Technological developments in automobile vehicle systems would provide many opportunities for the significant improvements in the automatic valve cover gasket market. For instance, Advanced Driver Assist Systems and Automatic Emergency Braking are few of the latest technologies implemented in the automobile sector.
- Similarly, competitors in the valve cover gasket market adopted acquisition as their key developmental strategy to expand their geographical foothold and upgrade their product technologies. For instance, on February 2016, Dana Holding Corporation (NYSE: DAN) announced that it completed the acquisition of Magnum Gaskets®, a U.S.-based supplier of aftermarket gaskets and sealing products for automotive and commercial-vehicle applications. Magnum Gaskets will enhance Dana's sealing product offerings and complement the company's Victor Reinz® and Glaser® global sealing brands.
Key Benefits of the Report
- This study presents the analytical depiction of the valve cover gasket market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the valve cover gasket market share.
- The current market is quantitatively analysed to highlight the valve cover gasket market industry growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed valve cover gasket market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the Valve Cover Gasket Market Report
- Who are the leading global players in the valve cover gasket market?
- What are the current trends and predicted trends?
- What is valve cover gasket?
- What is valve cover gasket market prediction in the future?
- What are the challenges faced in the valve cover gasket market?
- What are the driving factors and opportunities in the market?
- What are the key benefits of the valve cover gasket market report?
Valve Cover Gasket Market Report Highlights
By Distribution Channel
By Engine type
Key Market Players
Nipparts B.V., Jiu Zhou Automobile Parts Co. Ltd., Elring, Edelbrock, LLC., Dana Limited, FIXER GASKETS, CAR-BOCK Automotive Parts GmbH, CRP Industries Inc., LGP Sealing Co., Ltd., Ge Mao Rubber Industrial Co., Ltd., Autobarn, Banco Products (I) Ltd.