Mechanical Seals Market is Forecast to Reach US$ 4.5 Billion in 2026, Says Stratview Research

The Mechanical Seals market is likely to rise at a CAGR of 4.1% during 2021-2026, to reach US$ 4.5 billion in 2026, states Stratview Research.

DETROIT, May 3, 2023 /PRNewswire/ -- Stratview Research, a global market research firm has launched a report on the Mechanical Seals market which provides a comprehensive analysis of the global and regional industry forecast, current & emerging trends, segment analysis, and competitive landscape.

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Report Highlights

Segment Insights on Mechanical Seals Market

The global Mechanical Seals market is segmented based on end-use industry, material type, product type, design type, force distribution type, arrangement type, assembly type, application type, and region.

Based on end-use type - The market is segmented based on the end-use industry type as oil & gas, energy & power, food & beverages, chemical processing, metals & mining, automotive, and others. The Oil & Gas industry is estimated to remain the biggest demand generator for mechanical seals during the forecast period. In the oil & gas industry, seals are used in a multitude of applications including drilling, completion, production, distribution, and refinery. They are primarily used in pumps, compressors, and other rotating applications.

Based on material type - The market is segmented into elastomer seals, thermoplastic seals, and metal seals. Elastomer is expected to remain the most dominant material type in the market during the forecast period, owing to its excellent properties suiting all the major applications, such as pumps, compressors, valves, and other rotary applications.

Based on application type - The market is segmented into pumps, compressors, and others. Pumps hold a lion's share in the mechanical seals market and are expected to maintain their dominance in the market in the foreseen future, owing to the usage of a large number of pumps during the whole process of extraction of oil & gas in both onshore and offshore. Compressors, the other major application, are likely to witness healthy growth in the coming years.

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Which Region Offers the Best Opportunity and Growth?

The report suggests that North America is expected to remain the largest market for Mechanical Seals during the forecast period. This growth is majorly attributed to the following –

• The USA remains the largest market in the region as well as in the world, driven by the country's dominance in key markets of mechanical seals.
• Major seal manufacturers are located across the region to cater to the growing regional demand coming from a multitude of industries.

Likewise, the Asia-Pacific will be the fastest-growing mechanical seals market over the same period, primarily driven by exponential growth in various industries in key economies such as China, Japan, and India.

Mechanical Seals Market Drivers

Some of the key drivers listed in the report are given below.

• Expected increase in oil & gas production.
• Increasing usage of pumps and valves in various industries.
• Increasing energy needs owing to increasing world population.
• Exceptional benefits of mechanical seals, making them a preferable choice in rotary applications across industries.
• Development in designs of mechanical seals.

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Top Companies in Mechanical Seals Market?

The supply chain of this market comprises raw material suppliers, mechanical seals manufacturers, pump and compressor manufacturers, and end-users. The key players in the Mechanical Seals Market are:

• A.W. Chesterton Company
• AB SKF, AESSEAL plc
• Dover Corporation (Waukesha Bearings)
• EagleBurgmann (Freudenberg Group)
• Flowserve Corporation, FLUITEN Italia S.p.A.
• Garlock (EnPro Industries, Inc.)
• John Crane (Smiths Group plc)
• Trelleborg AB.

What Deliverables will You Get in this Report?

 Related reports which might be useful:

• Oil & Gas Seals Market
• Elastomer Seals Market

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