• Blog
  • Seals Market Report

    Seals Market Report

    Seals Market Report
    Report code - SR2052 Published On : Aug,2022 No. of Pages: 150
    Seals Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2 See more...

    Market Highlights

    The Seals market was projected to grow from USD 62.1 billion in 2021 to USD 84.7 billion by 2027 at a CAGR of over 4.9% during the 2022-27. However, the long-term interpretation still seems favorable and rewarding, owing to the strong industry fundamentals.

    Seals Market Size

    Wish to Get a Free Sample? Click here

    In 2020, the Seals market was gravely affected by the pandemic. The wrath of the pandemic caused supply chain disruption, lockdowns, and labor and material shortages all over the world. As a result, the Seals market suffered a hefty -10% decline in 2020.

    What are Seals?

    Seals are devices or substances that are used to join two things together so that they do not separate or allow anything to pass between them. They are also used to prevent any liquid or gas handled by an application from leaking into the environment. Seals not only play an important role in leakage protection, but they also improve the application's operating efficiency, protect moving parts of the equipment, and are used to increase the application's lifespan and productivity.

    Material selection is very important because better material provides better functionality, which leads to energy and capital savings. Seals must be resistant to high pressure and temperature fluctuations, corrosive materials such as alkaline acids, gases, electric and magnetic forces, and chemicals, among others. As a result, selecting the proper seal material is critical. Seals are the essential components of any machine/equipment/application and are used in almost every industry such as automotive, aerospace, chemicals, marine, healthcare, and energy & power, making them a perfect choice for investment.

    Key Players

    The Seals market is highly populated in terms of Seals suppliers. Stratview Research estimates the presence of over 1,000 players active in the Sealsing solutions business. Out of several players, a handful of players hold vast product portfolios covering all the end-use markets. The following are the key players in the Seals market (arranged alphabetically).

    • AB SKF
    • Dana Incorporation
    • EnPro Industries
    • Flowserve Corporation
    • Freudenberg Group
    • Greene Tweed & Co., Inc.
    • Hutchinson SA
    • James Walker & Co.
    • John Crane (Smiths Group)
    • Parker-Hannifin Corporation
    • Saint-Gobain S.A.
    • Tenneco Inc.
    • Trelleborg AB

    Market Drivers

    Seals Market snapshot

    Want to have a closer look at this report, Download a free sample.

     

    • Factors such as increasing automobile and aircraft production; rising construction, mining, and agriculture activities; the growing processing industry; rising demand for oil & gas; and increasing demand for consumer electronics are likely to drive the market for Seals in the foreseen future.
    • One of the driving factors in the Seals market is the increase in the use of Seals to save energy and reduce pollution.
    • Several industries across the globe are adopting Sealsing technology. One of the key factors driving the growth of these Seals market is the rising adoption of customized Seals in various industries.

    For machines with long running hours, customers are opting for thermal resistant Seals which offers high optimization and durability. Temperature plays a vital role in operations of Seals in every industrial equipment, owing to many reasons, the demand for thermal resistant Seals is growing across the world.

    Temperature plays a crucial role in the operation of Seals in all the industrial equipment. Hence, the demand of thermal resistant Seals is increasing owing to the producing sector across the globe. Additionally, the demand for large capability manufacturing units has increased in the numerous industries for the past few years.

    Segments Analysis

    Seals Market Segmentation

     

    To get the scope of competitive landscapes, Click here.

     

    End-use industry type

    The market is segmented as transportation, processing, electrical & electronics, mobile machinery, manufacturing tools, energy & power, and others. Transportation is expected to remain the biggest demand generator for Seals with a market share of around 34% during 2021 is projected to grow at a robust CAGR during the forecast period.

    • Seals are used in aircraft, passenger cars, LCVs, M&HCVs, railways, ships, and boats making transportation the dominant segment.
    • According to IHS, the global light vehicle production will grow at a healthy rate of 3.4% CAGR during 2021-2027.
    • IATA predicts that the number of air travelers will reach 4.0 billion in 2024, creating a huge demand for aircraft.
    • UNIFE estimates that the global rail OEM market is likely to grow at a CAGR of 2.8% from 2021 to 2025, and all other related industries to have growth outlooks for the future.

    Product type

    The market is segmented as O-rings, gaskets, energized Seals, lip Seals, mechanical Seals, and others. Lip Seals are expected to remain the largest as well as the fastest-growing segment with a market share of around 20.5% during 2021 is projected to grow at a robust CAGR during the forecast period Lip Seals are majorly used in rotary applications such as pumps, turbines, aircraft engines, and automobile engines, giving the segment a dominant position. Lips Seals are also widely used in manufacturing industries such as food processing, pharmaceuticals, and chemicals.

    Material type

    The market has been classified into Elastomeric Seals, Thermoplastic Seals, and Metallic Seals. Under these, the Elastomeric Seals segment held a market share of 62% in 2021 and is projected to grow at a robust CAGR in the coming years

    Regional Analysis

    In terms of regions, Asia-Pacific is expected to remain the largest and fastest-growing market for Seals during the forecast period. Because of the region's large population, manufacturing industries have a high demand for transportation and finished goods. Furthermore, governments of many countries in the region are promoting their country's manufacturing sector through various initiatives such as the Indian government's Make in India. These factors are increasing the demand for Seals in the region from various OEMs and aftermarkets.

    Seals Market by region

    Wish to Get a Free Sample? Click here

    The Seals market is segmented into the following categories. 

    Report – Features

    Market Segmentation

    4

    Regions Covered

    4

    Countries/Sub-Regions Covered

    11

    No. of Figures & Tables

    >140

    Company Profiles

    1

    Report Features

    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:

    • Overview, industry life cycle analysis, supply chain analysis.
    • Environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
    • Trend and forecast analysis.
    • Segment trend and forecast.
    • Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.

    Market Size in 2027

    USD 84.7 billion

    Market Size in 2021

    USD 62.1 billion

    Market Growth (2022-2027)

    4.90% CAGR

    Base Year of Study

    2020

    Trend Period

    2016-2019

    Forecast Period

    2022-2027

    Segments Covered

    by End-Use Industry Type (Transportation, Processing, Electrical & Electronics, Mobile Machinery, Manufacturing Tools, Energy & Power, 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 End-User Type (OE and Aftermarket),

    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]).

     

    Top Companies in 2021

    • AB SKF
    • Dana Incorporation
    • EnPro Industries
    • Flowserve Corporation
    • Freudenberg Group
    • Greene Tweed & Co., Inc.
    • Hutchinson SA
    • James Walker & Co.
    • John Crane (Smiths Group)
    • Parker-Hannifin Corporation
    • Saint-Gobain S.A.
    • Tenneco Inc.
    • Trelleborg AB

    Dominant Region

    Asia pacific accounted the largest market share in 2021 and is projected to grow at a significant CAGR during the assessment period.

    By Application Type

    • Transportation 
    • Processing 
    • Electrical & Electronics 
    • Mobile Machinery 
    • Manufacturing Tools 
    • Energy & Power
    • Others

    By Product Type

    By Material Type

    • Elastomeric Seals 
    • Thermoplastic Seals
    • Metallic Seals 

    By End-User Type

    • OE 
    • Aftermarket 

    By Region

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, The UK, Russia, and Rest of Europe)
    • Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
    • Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)

    Critical Questions Answered in the Report

    • What are the key trends in the market?
    • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in next five years?
    • What is the impact of COVID-19 on the market?
    • What are the key strategies adopted by the major vendors to lead in the market?
    • What is the market share of the top vendors?

    Research Methodology

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s Seals market realities and future market possibilities for the forecast period of 2021 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 5,000 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.

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com

    A Bird's Eye View of the Market

    Seals are devices or substances that are used to join two things together so that they do not separate or allow anything to pass between them. They are also used to prevent any liquid or gas handled by an application from leaking into the environment. Seals not only play an important role in leakage protection, but they also improve the application's operating efficiency, protect moving parts of the equipment, and are used to increase the application's lifespan and productivity.

    The seals market was projected to grow at a CAGR of over 4.9% during the forecast period.

    The market size was estimated USD 62.1 billion in 2021.

    The market size is estimated to reach USD 84.7 billion by 2027.

    Asia-Pacific is expected to remain the largest and fastest-growing market for Seals during the forecast period.

    AB SKF, Dana Incorporation, EnPro Industries, Flowserve Corporation, Freudenberg Group, Greene Tweed & Co., Inc., Hutchinson SA, James Walker & Co., John Crane (Smiths Group), Parker-Hannifin Corporation, Saint-Gobain S.A., Tenneco Inc., and Trelleborg AB are some of the key players (arranged alphabetically) in the market. Their vast product portfolio, global reach, and presence of sales offices and manufacturing facilities in the majority of regions are the factors behind their dominance.

    Transportation is likely to maintain its dominance in the market over the next five years, owing to the widespread use of Seals in aircraft, passenger cars, LCVs, M&HCVs, railways, ships, and boats, among other applications.

    Factors such as increasing automobile and aircraft production; rising construction, mining, and agriculture activities; the growing processing industry; rising demand for oil & gas; and increasing demand for consumer electronics are likely to drive the market for Seals in the foreseen future. One of the driving factors in the Seals market is the increase in the use of Seals to save energy and reduce pollution. Several industries across the globe are adopting Sealsing technology. One of the key factors driving the growth of these Seals market is the rising adoption of customized Seals in various industries

    •   

      Why are We Class Apart?

      Advanced Materials Offer Next Growth Wave

      We Specialize in Composites & other Materials Market Research

      >60% of the First Buyers Come Back to Us

      >95% Client Satisfaction Ratio, the Industry's Highest

      Clients Across the Value Chain

      Track the Latest Trends in Advanced Materials

      Know High Growth Opportunities