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    Seals Market Report

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

    Market Highlights

    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. One of the driving factors in the seals market is the increase in the use of seals to save energy and reduce pollution. 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.

    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.

    However, the long-term interpretation still seems favorable and rewarding, owing to the strong industry fundamentals. The market for seals is expected to recover at a healthy CAGR of 4.6%, during the forecast period to reach a value of US$ 81.5 Billion in 2027. 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.

    Market Segments' Analysis

    Based on the end-use industry type, the seals 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 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 2022-2027; 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 2022 to 2025, and all other related industries to have growth outlooks for the future.

    Based on the 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 of the market 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.

    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.

    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 sealing 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

    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 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 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 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:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis.
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
    • Market trend and forecast analysis.
    • Market 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.

    The seals market is segmented into the following categories. 

    Seals Market, by Application Type

    • Transportation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Processing (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Electrical & Electronics (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Mobile Machinery (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Manufacturing Tools (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Energy & Power (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Seals Market, by Product Type

    • O-rings (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Gaskets (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Energized Seals (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Lip Seals (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Mechanical Seals (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Seals Market, by Material Type

    • Elastomeric Seals (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Thermoplastic Seals (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Metallic Seals (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Seals Market, by End-User Type

    • OE (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Aftermarket (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Seals Market, 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)

    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

    The seals market is estimated to grow at a healthy CAGR of 4.6% over the next five years to reach a value of US$ 81.5 Billion in 2027. The market is likely to grow at a healthy pace propelled by the organic growth of various end-use industries.

    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.

    Asia-Pacific is estimated to remain dominant in the seals market in the foreseeable future due to the high demand for transportation and finished products by manufacturing industries.

    Asia-Pacific is estimated to grow at the fastest rate in the coming five years, owing to the increasing demand for seals in the region as a result of various stimulus packages provided by governments of many countries to boost industrial production.

    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.

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