18-Jun-2021 | Facts and Factors
The recent publication from Facts & Factors titled “Global Industrial Seals Market” encompasses a comprehensive and analytical overview of the market. The report illustrates that the Global Industrial Seals Market was valued to be around USD 12.98 Billion in the year 2020 and will further grow with a CAGR of 4.9% to an expected value of USD 17.1 Billion by 2026.
Industrial seals are a mechanical device that allows a range of functions ranging from preventing leakages, regulating pressure, and holding fluid between two adjoining surfaces. Seals are the perfect example of static and dynamic interfaces. The primary factors governing the global industrial seals market are rising demand for thermal, durable, and heat resistant seals. Furthermore, the ability to provide an efficient and viable solution between two rotating surfaces will aid in boosting the growth of the global industrial seals market.
Furthermore, factors pertaining to the rising manufacturing sectors and a rising trend of customizable seals will further boost in propelling the growth of the global industrial seals market during the forecast. A higher prevalence of larger manufacturing units that produce seals on a rapid and higher volume of seals will further open new market revenue for the global industrial seals market.
Top Market Players
The key participants in the global industrial seals market are SKF, Flowserve Corporation, John Crane, Trelleborg AG, EnPro Industries, Inc., Dover Corporation, SHV, Freudenberg SE, Tenneco, Inc., Fenner Group, John Crane, and Trelleborg AG, among others.
Here are some developments during the forecast that can change the dynamics of the global industrial seals market:
- Flowserve Corporation recently came with a 5-year collaboration with Shell in order to facilitate general services for their Floating Liquefied Natural Gas (FLNG) facility.
- John Crane recently signed a business collaboration with Al-Ahed Trading and Contracting Co. in order to provide support to service providers in order to procure the first set of dry gas seals.
The global industrial seals market can be divided into axial seals, radial seals, and mechanical seals. The mechanical seals can be further broken down into pusher and non-pusher seals, conventional seals, balanced and unbalanced seals, and cartridges. The radial seal segment is expected to witness the largest market share during the advent of the forecast owing to its particular functionality and rising adoption of contacting seals in the sector.
The global industrial seals market can be divided into mining, food & beverage, oil & gas, energy and power, aerospace, marine, construction, and others. The other segment can be broken into the chemical sector. The sector of food and beverage is expected to witness the largest market share during the advent of the forecast in terms of global revenue contribution.
Asia-Pacific Is Expected To Recoup The Largest Market Share During The Forecast Period
Asia-Pacific is expected to witness the largest market share during the advent of the forecast. Factors contributing to the dominant position of the market in the region can be attributed to a rising number of registered and unregistered vendors in the region. Additional factors include a larger number of vendors providing higher quality seals at a low cost. North America is expected to post the fastest growing CAGR during the forecast due to the presence of key players in the region.
Browse in the full report “Industrial Seals Market By Type (Axial Seals, Radial Seals, & Mechanical Seals), By Applications (Mining, Food & Beverage, Oil & Gas, Energy & Power, Aerospace, Marine, Construction, & Others), And By Regions - Global & Regional Industry Perspective, Comprehensive Analysis, and Forecasts, 2021 – 2026” at https://www.fnfresearch.com/industrial-seals-market
The global industrial seals market can be segmented into:
Global Industrial Seals Market: By Type Segment Analysis
- Axial Seals
- Radial Seals
- Mechanical Seals
- Pusher & Non-Pusher Seals
- Conventional Seals
- Balanced & Unbalanced Seals
Global Industrial Seals Market: By Application Segment Analysis
- Food & Beverage
- Oil & Gas
- Energy & Power
Global Industrial Seals Market: By Regional Segment Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of MEA
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