Westford, USA, July 13, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest, there is a growing need for stable and durable Industrial seals with high thermal resistance to withstand extreme temperatures and challenging operating conditions. The ability of seals to withstand these demanding environments and maintain their sealing properties is crucial for ensuring the reliability and longevity of equipment.
Browse in-depth TOC on "Industrial Seals Market"
- Pages - 242
- Tables - 68
- Figures – 75
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The industrial seals market is experiencing significant growth, driven by the increasing demand from key industries such as oil and gas, chemical, and petrochemical. These industries rely heavily on seals to ensure safe and efficient operations. In the oil and gas sector, seals are used in various applications, including pumps, valves, and pipelines, to prevent leakages and maintain the integrity of the equipment.
Report Scope & Segmentation:
| Attributes | Details |
| Market Size in 2022 | USD 13.33 Billion |
| 2030 Value Projection | USD 17.54 Billion |
| CAGR | 4.68% |
| Forecast Period | 2023-2030 |
| Segments Covered |
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| Regions Covered |
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Prominent Players in Industrial Seals Market
- SKF AB
- Freudenberg SE
- Parker Hannifin Corporation
- Trelleborg AB
- Kaman Corporation
- Flowserve Corporation
- Garlock Sealing Technologies
- James Walker Group
- Chesterton Company
- John Crane Inc.
- Timken Company
- EagleBurgmann Germany GmbH & Co. KG
- AESSEAL plc
- Flexitallic Group
- Bal Seal Engineering Inc.
- GEA Group AG
- Hutchinson SA
- Sulzer Ltd.
- Technetics Group
- Saint-Gobain S.A.
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Radial Seals Segment is Expected to Grow the Market Due to the Increasing Preference of Manufacturers
The radial seals segment is poised to dominate the majority share of the industrial seals market. This can be attributed to the increasing preference of manufacturers for contacting seals across various sectors. The radial shaft segment mainly drives this trend, offering numerous benefits and advantages. It provides effective sealing solutions, ensuring reliable performance and preventing leakages in critical applications.
The market in North America is projected to dominate the industrial seals market, driven by its substantial presence in crucial chemical, pharmaceutical, and oil & gas industries. Among the countries in the region, the United States is expected to emerge as the largest market globally.
Oil & Gas Segment is Expected to Dominate the Market Due to Growing Energy Consumption
The oil & gas category is predicted to hold the largest market share in the industrial seals industry. This can be attributed to the increasing energy consumption across various industries, driving the demand for oil and gas exploration, production, and transportation.
Regional markets in the Asia Pacific reached a value of USD 4.43 billion, and it is projected to emerge as a dominant region in the global industrial seals market throughout the forecast period. The market growth in the Asia Pacific region is primarily driven by the substantial increase in registered and unregistered manufacturing companies operating in the region.
A comprehensive analysis of the major players in the industrial seals market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
Key Developments in Industrial Seals Market
- Trelleborg sealing solutions recently introduced a groundbreaking product called Isolast K-Fab™ Seal, designed explicitly for high-temperature semiconductor subfab applications. This innovative seal aims to provide long-term sealing performance and enhanced productivity in demanding environments.
- Trelleborg AB recently successfully acquired MG Silikon GmbH, based in Lindau, Germany. MG Silikon, previously a part of the Saint-Gobain Group, specializes in manufacturing sealing products and systems for aerospace and industrial applications.
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Key Questions Answered in Industrial Seals Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
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