New York, NY, June 21, 2021 (GLOBE NEWSWIRE) — Facts and Factors have published a new research report titled “Industrial Seals Market By Type (Axial Seals, Radial Seals, & Mechanical Seals), By Application (Mining, Food & Beverage, Oil & Gas, Energy & Power, Aerospace, Marine, Construction, & Others), And By Regions – Global & Regional Industry Perspective, Comprehensive Analysis, and Forecasts, 2021 – 2026”.
“According to the recent research report, the demand of global Industrial Seals Market size & share expected to reach to USD 17.1 Billion by 2026 from USD 12.98 Billion in 2020, at a compound annual growth rate (CAGR) of 4.9% during the forecast period 2021 to 2026”
Global Industrial Seals Market: Overview
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.
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(Note: The sample of this report is updated with COVID-19 impact analysis before delivery)
Industry Major Market Players
- Flowserve Corporation
- John Crane
- Trelleborg AG
- EnPro Industries Inc.
- Dover Corporation
- Freudenberg SE
- Tenneco Inc.
- Fenner Group
- John Crane
- Trelleborg AG
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Key questions answered in this report:
- What is the projected market size & growth rate of the Industrial Seals Market?
- What are the key driving factors for the growth of the Industrial Seals Market?
- What are the top companies operative in Industrial Seals Market?
- What segments are covered in Cannabis in Industrial Seals Market?
- How can I get free sample report/company profiles of the Industrial Seals Market?
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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.
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Global Industrial Seals Market: Growth Factors
The governing factors behind the stable growth of the industrial market are the rising demand for thermal, durable, and heat resistant seals that allow the swift development of forces between two rotating elements. Temperature plays an important role during such operations which will give rise to heat-resistant seals during the forecast. Factors such as providing optimum efficiency and increased productivity coupled with growing demand in the manufacturing sector will further boost the growth of the global industrial market during the forecast period. Furthermore, a rising trend of customizable industrial seals will open new revenue opportunities during the forecast period.
Rising prevalence of larger manufacturing units will give rise to continuous and high production of seals. However, factors such as lack of raw materials, deteriorating supply chains, and unavailability of workers will hamper the growth of the global industrial seal market. Furthermore, the industry disruption bought on by COVID-19, the market is expected to bounce back to pre-COVID-19 levels during the forecast period. Moreover, increasing consumer preference shifting toward seal-less driving shafts will further hamper the growth of the industrials seals during the forecast period.
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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
Key Highlights of this Report:
- Statistically Validated Analysis of Historical, Current, and Projected Industry Trends with Authenticated Market Sizes Information and Data in terms of Value and Volume, wherever applicable
- Detailed List of Key Buyers and End-Users (Consumers) analyzed as per Regions and Applications
- Overview of Key Marketing Strategies and Key Sales Channels Adopted in the Market
- Market Attractiveness Analysis and Key Investment Opportunity Analysis in the Market going forward
- Direct and Indirect Factors that Impacted the Industry as well Projected Rationales expected to affect the industry going forward
- Historical and Projected Company / Vendor / OEM / Supplier Market Shares, Competitive Landscape, and Player Positioning Data
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