Pune, India, May 23, 2023 (GLOBE NEWSWIRE) -- The global mechanical seals market size is projected to reach USD 4.77 billion by 2026. The advancements in material associated with the product will create several opportunities for market growth. According to a report published by Fortune Business Insights, titled “Mechanical Seals Market Size, Share & Industry Analysis, By Type (Cartridge Seals, Balanced and Unbalanced Seals, Pusher and Non-pusher, Conventional Seals and Others), By Industry (Metals & Mining, Food & Beverage, Oil & Gas, Energy and Power, Aerospace, Marine, Construction & Manufacturing and Others) and Regional Forecast, 2019-2026,” the market was worth USD 3.20 billion and will exhibit a CAGR of 5.2% during the forecast period, 2019-2026.
Mechanical Seals Market Report Key Insights:
Mechanical Seals market research report provides you comprehensive and insightful information about Mechanical Seals industry. This report is a valuable tool for businesses, investors, and decision-makers to understand market dynamics, assess opportunities, and make informed strategic decisions.
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This reports provides you overview of the report's key findings, conclusions, and recommendations, presented in a concise and clear manner. Background information about the market or industry analysis, including its size, growth rate, major players, and key trends. Report also provides analysis of the market's current state, including its historical performance, current market size, and projected growth prospects.
Market Segmentation: Identification and analysis of different market segments based on factors such as demographics, consumer behavior, or product/service types.
Competitive Analysis: Assessment of the competitive landscape, including an analysis of key competitors, their market share, strengths, weaknesses, and strategies.
Market Trends: Identification and analysis of significant market trends, emerging technologies, regulatory changes, and other factors that could impact the market's future.
SWOT Analysis: Evaluation of the market's strengths, weaknesses, opportunities, and threats, highlighting key areas of advantage or vulnerability.
Market Forecasts: Future projections and estimations regarding the market's growth potential, including revenue forecasts, market size, and growth rate.
Recommendations: Actionable insights and recommendations for businesses based on the research findings, aimed at maximizing opportunities and mitigating risks.
Key Takeaway:
- The global mechanical seals market is segmented by type, which is further segmented into pusher and non-pusher, conventional seals, balanced and unbalanced seals, and cartridge seals.
- By industry, the market is bifurcated into metals and mining, food and beverage, oil and gas, energy and power, aerospace, marine, construction and manufacturing, and others
- Asia-Pacific is anticipated to lead the mechanical seals market share and is projected to depict exponential growth over the forecast period
Factors Affecting the Stakeholders of the Mechanical Seals Market (2026):
- Mechanical seal manufacturers: These companies design, produce, and supply a range of mechanical seals used in various industries, such as oil and gas, chemical, and water and wastewater treatment.
- End-users: End-users of mechanical seals include companies in the oil and gas, chemical, water, and wastewater treatment industries, who use mechanical seals to prevent leaks and maintain the integrity of their equipment.
- Oil and gas industry: The oil and gas industry is a major end-user of mechanical seals, using them for applications such as pumps, compressors, and mixers.
- Mechanical seal dealers and distributors: These companies play a role in the mechanical seal market by distributing and selling products to end-users.
- Industry associations: These groups may represent manufacturers, distributors, or end-users and work to promote the interests of their members and the industry as a whole.
- Government agencies: Government agencies may be involved in the mechanical seals market to regulate the use of mechanical seals in certain applications and enforce safety standards.
Mechanical Seals Market COVID-19 Impacts:
The COVID-19 pandemic has had significant impacts on the global mechanical seals market. The outbreak of the virus resulted in widespread economic disruptions, including the closure of manufacturing facilities and supply chain disruptions. These factors had a direct impact on the demand and production of mechanical seals across various industries.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/industry-reports/mechanical-seals-market-101430
Report Coverage:
Mechanical seals are a medium for containing a fluid within a vessel and prevent leakages. The ease of availability of materials associated with the manufacturing of mechanical seals, coupled with the low cost of the product, will have a huge impact on the growth of the companies operating in the market. The importance of mechanical seals and their properties across diverse industry verticals have fuelled the demand for the product across the world. Rapid industrial development has created several opportunities for the companies operating in the market. Accounting to the huge potential held by the product, several companies are making huge investment in the product.
Regional Insights:
Asia Pacific to Emerge Leading; Increasing Industrial Applications to Aid Growth
The market is segmented on the basis of regional demographics into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the market in Asia Pacific currently holds the highest market share, owing to the increasing product use in several countries across this region. As of 2018, the market in Asia Pacific was worth USD 1.13 billion and this value is likely to increase further in the coming years. Besides Asia Pacific, the market in North America will witness considerable growth in the coming years.
Scope of the Report:
| Report Attribute | Details |
| Market Value (2018) | USD 3.20 billion |
| Market Size (2026) | USD 4.77 billion |
| CAGR (from 2018 to 2026) | 5.2% |
| Asia Pacific Market Size (2018) | USD 1.13 billion |
| Historic Period | 2015-2017 |
| Base Year | 2018 |
| Forecast Year | 2019-2026 |
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Drivers & Restraints
Increasing Number of Product Launches Will Aid Growth
The report encompasses several factors that have contributed to the growth of the market in recent years. Among all factors, the increasing number of product launches have made the highest impact on the market. In March 2019, John Crane announced the launch of a new cartridge. The company introduced ‘T4111’, a cartridge seal is a single-use product that is used to seal rotary and centrifugal pumps. This product will not only help the company generate substantial market revenue but will have a direct impact on the growth of the market in the coming years. Moreover, the high investment in product R&D will yield newer products at a rapid pace.
List of Key Players Mentioned in the Report:
- SKF (AB SKF)
- Flowserve Corporation
- John Crane (Smiths Group plc)
- Trelleborg AB
- EnPro Industries, Inc. (Garlock GmbH)
- Dover Corporation (Waukesha Bearings)
- SHV (ERIKS Group)
- Freudenberg SE
- Tenneco Inc. (Federal-Mogul LLC)
- Fenner Group Holdings Limited (Hallite Seals)
Recent Development of the Mechanical Seals Market:
- Dover introduced the latest Air Mizer solutions design for the shaft seal for AM Conveyor Equipment Manufacturers Association.
- John Crane announced its new T4111 cartridge seal. The seal, called the Elastomer Bellows Cartridge Seal, is single-use and is designed to seal rotary and centrifugal pumps, along with similar rotating shaft machines.
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Major Table of Contents:
- Introduction
- Definition, By Segment
- Research Approach
- Sources
- Executive Summary
- Market Dynamics
- Drivers, Restraints and Opportunities
- Emerging Trends
- Key Insights
- Macro and Micro Economic Indicators
- Consolidated SWOT Analysis of Key Players
- Porter’s Five Forces Analysis
- Global Mechanical Seals Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Sizing Estimations and Forecasts – By Type (Value)
- Cartridge Seals
- Pusher and Non-pusher
- Balanced and Unbalanced Seals
- Conventional Seals
- Others (Bellows Seals, etc.)
- Market Sizing Estimations and Forecasts – By Industry (Value)
- Metals & Mining
- Food & Beverage
- Oil & Gas
- Energy and Power
- Aerospace
- Marine
- Construction & Manufacturing
- Others (Chemicals, etc.)
- Market Analysis, Insights and Forecast – By Region (Value)
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
- North America Mechanical Seals Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Sizing Estimations and Forecasts – By Type (Value)
- Cartridge Seals
- Pusher and Non-pusher
- Balanced and Unbalanced Seals
- Conventional Seals
- Others (Bellows Seals, etc.)
- Market Sizing Estimations and Forecasts – By Industry (Value)
- Metals & Mining
- Food & Beverage
- Oil & Gas
- Energy and Power
- Aerospace
- Marine
- Construction & Manufacturing
- Others (Chemicals, etc.)
TOC Continued…!
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