Construction Equipment Seals Market Report
Construction Equipment Seals Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2022-2027 See less
Construction Equipment Seals Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2022-2027
Construction Equipment Seals Market is Segmented by Application Type (Excavators, Cranes, Construction Logistic Vehicles, Dozers, Tunnelling & Boring Equipment, and Others), by Product Type (O-rings, Gaskets, Energized Seals, Lip Seals, Mechanical Seals, and Others), by Material Type (Elastomeric Seals, Thermoplastic Seals, and Metallic Seals), by Motion Type (Static Seals, Linear Seals, and Rotary Seals), and by Region (North America [The USA, Canada, and Mexico], Europe [Germany, France, The UK, Russia, and Rest of Europe], Asia-Pacific [Japan, China, India, and Rest of Asia-Pacific], and Rest of the World [Brazil, Saudi Arabia, and Others]).
Construction Equipment Seals Market is Segmented by Application Type (Excavators, Cranes, Construction Logistic Vehicles, Dozers, Tunnelling & Boring Equipment, and Others), by Product Type (O-rings, Gaskets, Energized Seals, Lip Seals, Mechanical Seals, and Others), by Material Type ...
Construction equipment seals are small components used to join two or more surfaces together to prevent leakage of oil or water used by the equipment. One of the important roles of seals is to prevent environmental contamination, as they stop unwanted particles from entering; and also help in maintaining pressure. The effectiveness of a seal is determined by a property known as adherence. High-powered equipment requires specific components to maintain a consistent level of work performance, and seals play an important role in this.
Seals are the major components used in different engine sections where high-temperature resistance and excellent corrosion resistance are critical. Seals also serve to contain pressure, maintain vacuums, and prevent unwanted particles from accumulating in hydraulic applications. The selection of material is dependent on several parameters such as temperature resistance, lightweight, durability, and strength. Thermoplastics are gaining traction in the market, driven by their significant advantages over other materials.
The construction equipment market was hit by the COVID-19 pandemic in 2020, causing consequential disruption and significant losses for the stakeholders. The construction equipment seals market followed suit and logged a massive decline of -14.7% in 2020, creating a lag of four to five years in the market. However, the long-term outlook still seems rewarding, owing to a rebound in the construction industry and increasing government investments in building & infrastructure. The construction equipment seals market is expected to grow at a healthy CAGR of 3.8% during the forecast period to reach a value of US$ 4.5 Billion in 2027.
Based on the application type, the construction equipment seals market is segmented as excavators, cranes, construction logistic vehicles, dozers, tunneling & boring equipment, and others. Excavator is expected to remain the largest, whereas cranes to be the fastest-growing segment of the market during the forecast period. Excavators are heavy earth-moving equipment with a bucket, arm, rotating cab, and tracks. They have a lot of static and dynamic parts, including many different kinds of seals.
Based on the product type, the market is segmented as O-rings, gaskets, energized seals, lip seals, mechanical seals, and others. Energized seals are expected to remain the most dominant seal type, whereas lip seals to be the fastest-growing product type in the market during the forecast period. Energized seals serve the same purpose as traditional O-rings. In addition, they also provide a higher level of leak protection than O-rings. Because of the abundance of hydraulic/linear applications (cylinders, valves, unions, and transmissions), there is a high demand for energized seals in construction equipment.
Based on the material type, the market is segmented into elastomeric seals, thermoplastic seals, and metallic seals. Thermoplastic seals are expected to be the fastest-growing segment of the market during the forecast period. Because of their superior properties such as strength, stiffness, and toughness, they are the most desirable material for high-performance applications.
In terms of regions, North America is expected to remain the biggest market, whereas Asia-Pacific is the fastest-growing market during the forecast period. Most seals suppliers have their presence in the USA to address the emergent needs of OEMs (Caterpillar Inc., Komatsu Ltd., and John Deere). The massive production of construction equipment by global players in the North American region creates a huge demand for seals at the OE level, whereas the Asia-Pacific region's rapid growth is due to the substantial demand for seals at the aftermarket level.
The presence of a large number of players serving the industry, owing to a well-established supply chain and moderate technological requirements. The following are the key players in the construction equipment seals market (arranged alphabetically).
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s construction equipment seals market realities and future market possibilities for the forecast period of 2022 to 2027. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
The construction equipment seals market is segmented into the following categories.
Construction Equipment Seals Market, by Application Type
Construction Equipment Seals Market, by Product Type
Construction Equipment Seals Market, by Material Type
Construction Equipment Seals Market, by Motion Type
Construction Equipment Seals Market, by Region
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