O Rings Market Report
O-Rings Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2022-2027 See less
O-Rings Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2022-2027
O-Rings Market is Segmented by End-Use Industry Type (Transportation, Processing, Electrical & Electronics, Mobile Machinery, Manufacturing Tools, Energy & Power, and Others), by Material Type (Elastomers, Thermoplastics, and Metal), by End-User Type (OE and Aftermarket), by Motion Type (Static and Linear), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
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 majorly used to manufacture O-rings. Depending on the application, different types of elastomers such as nitrile (buna), neoprene, and EPDM rubber, are used.
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.
However, the O-rings market is again 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. Following these trends, the O-rings market is estimated to grow at a healthy CAGR of 4.6% over the next five years to reach a value of US$ 14.8 Billion in 2027.
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.
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.
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.
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 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 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.
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 O-rings market is segmented into the following categories.
O-Rings Market, by End-Use Industry Type
O-Rings Market, by Material Type
O-Rings Market, by End-User Type
O-Rings Market, by Motion Type
O-Rings Market, by Region
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
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 firstname.lastname@example.org
The O-rings market is estimated to grow at a healthy CAGR of 4.6% over the next five years to reach a value of US$ 14.8 Billion in 2027. The recovery of industries in the post-pandemic developments paired with growing usage of O-rings made of elastomers is driving the market demand.
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, Nichias Corporation, and Northern Engineering (Sheffield) Ltd. are the leading players in the O-rings market.
Asia-Pacific is estimated to remain dominant in the O-rings market in the foreseen future. China, India, Japan, and Korea together represent more than two-thirds of the region's market. The region is also likely to witness the highest growth in the years to come.
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