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  • Power Generation & Transmission Seals Market Growth Analysis | 2022-2027

    Power Generation & Transmission Seals Market Growth Analysis | 2022-2027

    Power Generation & Transmission Seals Market Growth Analysis | 2022-2027
    Report code - SR2089 Published On : Aug,2022 No. of Pages: 125
    Power Generation & Transmission Seals Market Size, Share, Trend, Forecast, Competitive See more...

    Market Highlights

    The Power Generation & Transmission Seals Market is likely to grow at a significant CAGR of 3.6%, in the long run, to reach US$ 8.8 Billion in 2027.  

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    Seals used in power generation and transmission are one of the major components that require high temperatures and excellent corrosion resistance.  The selection of material is dependent on several parameters such as temperature resistance, lightweight, durability, strength, and negligible value of friction. The increasing demand for electricity from the residential, industrial, and commercial sectors will increase the demand for power generation and transmission, which, in turn, will bolster the seals market.

    Additionally, various other factors such as a rise in construction activities, growing use of electric vehicles, and rapid urbanization and industrialization are expected to drive the market growth. Furthermore, in response to growing concerns regarding pollution and global warming, governments are aiming for sustainable development and implementing measures to promote power generation through renewable energy sources, which is further intensifying the demand for seals. Power generation & transmission seals are used in a range of applications, such as wind turbines, solar and hydroelectric plants, fuel cells, and battery systems.

    Covid-19 Impact

    Due to the outbreak of COVID-19 in 2020, the growth rate of the power generation & transmission seals market faced a slight decline of -5.9%. Demand for power and energy from various industries decreased due to lockdowns. In contrast, the power demand from the residential sector increased, which offset the huge decline of the commercial and industrial sectors.

    However, it is expected that the power generation & transmission seals market will recover and thrive in the coming years. As global power consumption rises, the market for power generation & transmission seals is also expected to grow parallelly during the forecast period.

    Segments Analysis

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

    The market is segmented into the following categories-

    By Application Type

    • Power Generation 
    • Energy Transmission 
    • Energy Storage 

    By Product Type

    • O-rings 
    • Gaskets 
    • Energized Seals 
    • Lip Seals 
    • Mechanical Seals 
    • Others 

    By Material Type

    • Elastomeric Seals 
    • Thermoplastic Seals 
    • Metallic Seals 

    By Motion Type

    • Static Seals 
    • Linear Seals 
    • Rotary Seals 

    By Region

    • North America 
    • Europe 
    • Asia-Pacific 
    • Rest of the World 

    By Application Type

    The power generation & transmission seals market is segmented into power generation, energy transmission, and energy storage. Power generation is expected to remain the market's largest segment during the forecast period. There is a high demand for seals in thermal power plants, wind turbines, and hydroelectric turbines, which are some of the significant applications of seals used in power generation.

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    By Product Type

    The market is segmented into O-rings, gaskets, energized seals, lip seals, mechanical seals, and others. Energized seals are expected to remain the largest as well as the fastest-growing segment of the market during the forecast period. Energized seals maintain their properties even in the presence of challenges such as vacuum pressures, high temperatures, corrosive media, and hardware gaps, and are less prone to failure. As a result, they are preferred in the power generation & transmission seals market.

    By Material Type

    The market is segmented into elastomeric seals, thermoplastic seals, and metallic seals. Elastomeric seals are expected to remain the largest, whereas thermoplastic seals will be the market's fastest-growing segment during the forecast period. Elastomers and thermoplastics are the most desirable materials for high-performance applications, owing to their numerous advantages such as high/low-temperature resistance, good abrasion resistance, and high extrusion resistance. Thermoplastic seals are gaining traction in the power generation & transmission seals market.

    Regional Analysis

    In terms of regions, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific is expected to remain the largest power generation & transmission seals market during the forecast period. The region accounts for most of the market owing to the presence of major power-generating countries such as India and China. Rapid urbanization and rising power consumption are two primary factors responsible for Asia-Pacific becoming the largest region.  

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    Key Players

    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 power generation & transmission seals market:

    • AB SKF
    • A.W. Chesterton Co.
    • EnPro Industries
    • Freudenberg Sealing Technologies
    • Greene Tweed & Co., Inc.
    • Hutchinson SA
    • James Walker & Co.
    • John Crane (Smiths Group)
    • Parker-Hannifin Corporation
    • Saint-Gobain S.A.
    • Trelleborg Sealing Solutions 

    Research Methodology

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s power generation & transmission 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 1,000 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.

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth Analysis of the Power Generation & Transmission Seals Market

    How lucrative is the future?

    Market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market Segment Analysis and Forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirements?

    10% free customization

    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 power generation & transmission seals market is estimated to grow at a healthy CAGR of 3.6% over the next five years.

    The power generation & transmission seals market is likely to reach US$ 8.8 Billion in 2027, as a result of increasing power production to meet the global power demand.

    AB SKF, A.W. Chesterton Co., EnPro Industries, Freudenberg Sealing Technologies, Greene Tweed & Co., Inc., Hutchinson SA, James Walker & Co., John Crane (Smiths Group), Parker-Hannifin Corporation, Saint-Gobain S.A., and Trelleborg Sealing Solutions (arranged alphabetically) are some of the key players in the market. The factor behind their dominance is their wide reach all over the world with the presence of sales offices and manufacturing facilities in most of the regions.

    Asia-Pacific is estimated to remain dominant in the power generation & transmission seals market in the foreseeable future. The region's growth is fueled by a large number of thermal power plants and other renewable energy production units.

    Asia-Pacific is estimated to grow at the fastest rate in the coming five years. The increasing demand for power in the region as a result of the region's growing population is creating huge demand for seals in the market.

    Energized seals are likely to maintain their dominance in the market in the next five years, owing to their superior properties.

    The market is studied from 2016 - 2027.