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    Scandinavian Seals Market Growth Analysis

    Scandinavian Seals Market Growth Analysis
    Report code - SR2536 Published On : Apr,2023 No. of Pages: 110
    Scandinavian Seals Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth O See more...

    Market Highlights

    The Scandinavian Seals Market is likely to grow at a healthy CAGR of 3.4%, over the next 5 years, to reach US$ 496 million in 2028.

    Scandinavia is one of the largest and most highly competitive markets for seals in Europe, with several major global players in the market. Trelleborg, SKF, and Huhnseal are the major players with headquarters in Sweden. All the major players in the market provide sealing solutions for a wide range of industries and have vast product portfolios.

    The Scandinavian market is fairly well-represented, with a large number of customers from all the major end-use industries including food & beverage processing & packaging machinery manufacturers, pharmaceutical processing & packaging machinery manufacturers, chemical & petrochemical processing machinery manufacturers, construction equipment manufacturers, agricultural equipment manufacturers, material handling equipment manufacturers, industrial robotics manufacturers, industrial machinery manufacturers, power tools manufacturers, medical equipment and device manufacturers, sanitary equipment manufacturers, and energy & power generation, transmission, and storage equipment manufacturers.

    All the customers procure various types of seals with different types of seals dominating different end-use industries according to the applications. All the major players are putting efforts into developing seals that would cater to the merging demand from these industries, such as lightweight, extrusion-resistant, chemical-resistant, hygienic, high-temperature-resistant, and durable seals.

    Chemical resistance, extrusion resistance, and hygiene are the key areas of concentration for the major players while developing new products. Hygienic seals are developed to fulfill the demand for strict hygiene and cleanliness standards in the food processing industry. Elastomers or perfluorocarbons are used in high-purity hygienic seals where critical clean water, process fluids (both ambient and hot), and SIP environments exist.

    Some of the Recent Product Developments are:

    • Freudenberg worked with Bardiani Valvole and launched a special sealing solution for hygienic high-pressure valves used in the food & beverage and pharmaceutical industries.
    • Freudenberg introduced Hygienic Forseal and Hygienic Pressure Seal for the processing industry.
    • Trelleborg launched the HMF Flatseal Gasket for use in harsh chemical environments in the chemical processing, oil & gas, pharmaceutical, food and beverage, aerospace, and automotive industries.

    Furthermore, the expected rise in industrial productivity, innovations, and growing government initiatives to modernize and digitalize traditional industries as well as focus on sustainable and resource-efficient production, talent creation, and innovation, are likely to create huge growth opportunities over the next five years.

    Overall, the Scandinavian seals market is highly fragmented with the presence of 25+ regional, local, and global seals manufacturers in the market. However, the market has witnessed gradual consolidation over the years with major players acquiring regional/local players in the market to strengthen their portfolio, geographical reach, and market positions.

    Covid-19 Impact

    The Scandinavian seals market, a fair-sized market, saw a decline (>-11%) in 2020, due to the temporary halt in manufacturing in several industries, including construction equipment, agricultural, material handling, chemical, sanitary, etc., led by the pandemic. However, the market has witnessed enormous growth in the year 2021, owing to the commencement of recovery in all six end-use industries and the overall V-shaped recovery in the market.

    Some of the Recent Market Mergers and Acquisitions are:

    • In 2021, Densiq AB, a Swedish company and one of the industry leaders in sealing technology in Scandinavia, acquired DEPAC, a provider of mechanical seals and hydraulic seals.
    • In 2020, Kaman Corporation acquired Bal Seal Engineering, Inc., a leader in the manufacturing of highly engineered products, including precision springs, seals, and contacts.

    Segments Analysis


    List of Sub-Segments

    Dominant and Fastest-Growing Segments

    End-use-Industry-Type Analysis

    Processing Industry, Mobile Machinery Industry, Manufacturing Industry, Energy & Power Industry, Sanitary Industry, and Medical Industry

    The manufacturing industry is likely to remain the dominant industry, whereas the medical industry is likely to grow at the fastest pace in the market until 2028.

    Product-Type Analysis

    O-rings, Gaskets, Profile Seals, Energized Seals, Lip Seals, Mechanical Seals, and Others

    Energized seals are projected to maintain their dominance in the market until 2028, owing to their various benefits, such as high-pressure and high-temperature resistance.

    Material-Type Analysis

    Elastomeric Seals, Thermoplastic Seals, and Metallic Seals

    Elastomeric seals are likely to remain dominant, whereas thermoplastic seals are projected to witness the fastest growth in the market during the forecast period.

    By End-Use Industry Type:

    The Scandinavian seals market is segmented into the processing industry, mobile machinery industry, manufacturing industry, energy & power industry, sanitary industry, and medical industry. Among them, the manufacturing industry is expected to remain the largest industry in the market during the forecast period, owing to the increasing number of smart factories in Sweden.

    For instance, a Swedish Company, Atlas Copco has announced to invest €15 million per year to transform its factory into a smart factory. The market is driven by the increasing investments in digital technologies, such as AI, IoT, 5G, and robotics by the key industry players.

    By Product Type:

    The market is segmented into O-rings, gaskets, profile seals, energized seals, lip seals, mechanical seals, and others. Energized seals are expected to remain the largest product in the market during the forecast period. Energized seals are widely used in mobile machinery, industrial machinery, robotics, and the energy & power sector due to their increasing adoption for high chemical resistance, and high friction resistance.

    By Material Type:

    The market is segmented into elastomeric seals, thermoplastic seals, and metallic seals. Elastomeric seals are expected to remain the largest material type seals in the market during the forecast period, due to the high demand for durable and customized seals. Furthermore, elastomeric seals act as a mechanical barrier, protecting machines from various kinds of leakages and wear & tear caused by friction between moving parts.

    It improves the life span, productivity, and performance of the equipment. Elastomeric seals offer greater flexibility, durability, the ability to withstand high-temperature, and offers excellent fire resistance.

    Key Players

    The market is highly populated with the presence of several local, regional, and global players. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc. The following are the key players in the Scandinavian seals market. Most of the major players are providing seals in all six industries.

    • Trelleborg AB
    • Freudenberg Group
    • Parker-Hannifin Corporation
    • AB SKF
    • Saint-Gobain S.A.
    • IDEX Corporation
    • Huhnseal AB
    • Densiq AB
    • TT Gaskets Oy

    Research Methodology

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s Scandinavian seals market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner 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 Scandinavian 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 requirement?

    10% free customization

    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 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

    Frequently Asked Questions (FAQ)

    The Scandinavian seals market is estimated to grow at a CAGR of 3.4% by 2028, driven by rising industrial productivity along with innovations, and growing government initiatives to modernize and digitalize traditional industries.

    Trelleborg AB, Freudenberg Group, Parker-Hannifin Corporation, AB SKF, Saint-Gobain S.A., IDEX Corporation, Huhnseal AB, Densiq AB, and TT Gaskets Oy are the leading players in the Scandinavian seals market.

    The manufacturing industry is estimated to remain dominant in the Scandinavian seals market in the foreseeable future, owing to the increasing number of smart factories in Sweden.

    Energized Seals are estimated to remain dominant in the Scandinavian seals market during the forecasted period due to the increasing adoption of PTFE-energized seals for high chemical resistance, and high friction resistance.

    Elastomers are likely to remain the most preferred material for seals in the coming years, due to the growing demand for durable and customized seals.


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