O-Rings Market Growth Analysis | 2023-2028

Market Insights

The O-rings market is estimated to grow at a healthy CAGR of 4.2% over the next five years to reach a value of USD 15.9 billion in 2028.

Want to know more about the market scope? Register Here

Market Dynamics

Introduction

O-rings are the loop of elastomer with a round cross-section.  They are placed into a groove and then compressed between two surfaces to prevent any escape of fluids and ingress of external agents in the application where they are applied. O-rings are used in a wide range of industries, such as automotive engines, air conditioning systems, machine tools, and tap fittings, among others. They must be chemically stable and resistant to high temperatures, pressure, ozone, and swelling. They are widely used in the manufacturing process because they are inexpensive, easy to replace, reliable, and come in a variety of sizes. Elastomers are mainly used to manufacture O-rings. Depending on the application, different types of elastomers such as nitrile (buna), neoprene, and EPDM rubber, are used.

COVID-19 Impact

The emergence of the pandemic posed numerous challenges to the growing O-rings market. A large number of industries that use O-rings were affected by production halts, labor as well as raw material shortages, and low demand for finished products. Furthermore, the aftermarket demand for seals was disrupted as a result of lockdowns in many countries. As a result of these factors, the O-rings market declined by nearly 10.5% in 2020.

Market Drivers

The O-rings market is growing at a rapid pace and is expected to surpass the pre-COVID levels and reach new heights. Various factors, such as faster recoveries of industries, advancements in technologies, and a high focus on hygiene are propelling the demand for O-rings. Furthermore, consumer demand for dependable, efficient, and secure products, as well as environmental regulations, are bolstering the product demand.

Want to have a closer look at this market report? Click Here

Key Players

O-rings are considered one of the most common sealing products in the world. There are more than 1,000 companies that are offering o-rings; however, some companies are efficacious in building an extraordinary image in the world. The following are the key players in the O-rings market.

• Freudenberg Sealing Technologies
• Trelleborg Sealing Solutions
• Greene Tweed
• SKF
• Enpro (Technetics)
• Saint-Gobain
• Parker Hannifin
• Hutchinson
• Dana Seals
• Smith Group plc (John Crane)
• Elring Klinger AG

Note: The above list does not necessarily include all the top players in the market.

Are you the leading player in this market? We would love to include your name. Write to us at sales@stratviewresearch.com

Segment Analysis

By End-Use Industry Type

Based on the end-use industries, the O-rings 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 o-rings during the forecast period. Increasing requirements for mobility with a growing population and demand for reliable, efficient, and safe means of transportation are the major factors boosting the demand for o-rings in the transportation sector. O-rings are widely used to seal many types of fluids such as fuel, lubricating oil, and refrigerants, which are used in systems of buses, cars, and trucks, among others.

Regional Insights

In terms of regions, Asia-Pacific is expected to remain the largest and fastest-growing region in the market for O-rings during the forecast period. The region is the most populated in the world and generates high demand for finished products from manufacturing industries. Furthermore, many of the region's governments are promoting the manufacturing sector through initiatives, such as Make in India and Made in China 2025. These factors will drive both, manufacturing as well as demand for o-rings in the region.

Know the high-growth countries in this report. Register Here

Research Methodology

• This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s O-rings market realities and future market possibilities for the forecast period of 2023 to 2028.
• 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 2,000 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 market dynamics and will enable strategic decision-making for 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, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

The O-rings market is segmented into the following categories.

By End-Use Industry Type

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

By Material Type

• Elastomers
• Thermoplastics
• Metals

By End-User Type

• OE
• Aftermarket

By Motion Type

• Static Seals
• Linear Seals

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.