NEWARK, Del, April 06, 2023 (GLOBE NEWSWIRE) -- The global mechanical seals market was worth US$ 3.26 Billion in the year 2022 and is expected to reach US$ 4.88 Billion by the year 2032 at a CAGR of 4.1% between 2022 and 2032.
Mechanical seals, as the name suggests, avert leakage of gases or fluids through a safe passage between container and shaft. Mechanical seals comprise 2 faces. Carbon rings separate them. One of those is stationary whereas the other one stays in touch with rotating equipment. The first face is the one acted upon by mechanical force and generated by the springs, fluids, or bellows in equipment. Of late, mechanical seals are found to facilitate efficient operations and use various flexible materials like PTFE (polytetrafluoroethylene), polyurethane, fluorosilicone, industrial rubber, and likewise.
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Several regions are into adoption of investment policies to boost the manufacturing sector, thereby driving the mechanical seals market.
With advanced sealing material being continuously adopted by several verticals, cartridge seals are poised to keep the cash registers ringing in the forecast period. Cartridge seals are designed in the form of universal shaft seals for seal chamber of containers, pipelines, or pumps. Non-pusher and pusher seals are in good demand due to small and big diameter ring shaft being increasingly used in light end devices for handling high temperatures.
Future Market Insights has etched these findings with future perspectives in its latest market study entitled ‘Mechanical Seals Market’. It has its team of analysts and consultants to look through the micros and macros in its 360-degree view.
“With manufacturing vertical at its peak, the global mechanical seals market is expected to grow well in the forecast period”, says an analyst from Future Market Insights.
Key Takeaways from Mechanical Seals Market
- North America holds more than 25% of the market share due to expansion on the part of end-use verticals like chemicals, oil & gas, and power. There are close to 9K independent oil and gas power plants in the US alone.
- Europe holds more than 20% of the market share due to leading manufacturers like A.W. Chesterton Company placed herein. It has started with a manufacturing facility in Sweden for the compression packing used on valves and pumps. This facility would be servicing Northern Europe to provide ready-to-install packing rings and compression packaging in cut lengths (metric); along with customer-specific kits for OEMs and direct service partners of Chesterton.
- The Asia-Pacific is expected to grow at the fastest rate in mechanical seals market due to growing industrial applications in the developing economies.
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Competitive Seals
- A.W. Chesterton Company, in May 2020, did release patented Chesterton Matrix Rotary Seal. It’s a split seal utilizing two material technologies designed for working effectively on big run-out shafts and worn equipment.
- John Crane, in March 2019, tabled its T4111 cartridge seal called ‘Elastomer Bellows Cartridge Seal’, which is one-time usable and designed for sealing centrifugal and rotary pumps coupled with analogous rotating shaft machines.
- Dover, in April 2019, did announce tabling Air Mizer solutions designed for AM Conveyor Equipment Manufacturers Association shaft seal; which has been developed for CEMA screw conveyors & equipment.
- Hallite Seals, in March 2018, continued with its 3rd-party authentication with MSOE (Milwaukee School of Engineering) to reliably integrate design of sealing materials and seals.
- John Crane, in November 2021, came up with a novel 5610 Liquid Quench (5610L) as one of the extensions of 5600 range seals.
- Gallagher Fluid Seals, Inc., in May 2022, completed acquisition of IEQ Industries for diversifying product mix.
Some of the leading companies operating in the market are:
EagleBurgmann India Private Limited, Flowserve Corporation, Flex-a-seal, Bal Seal Engineering, Cooper-Standard, Federal-Mogul, Flexitallic Group, Garlock Sealing Technology, Henniges Automotive Sealing Systems, Hutchinson Sealing Systems, Timken AB, Freudenberg Sealing Technologies GmBH and Co. KG., Dana Corporation, Telleborg Industries, and others.
What does the Report seal?
- The research study is based on type (O-ring mechanical seals, lip mechanical seals, and rotary mechanical seals), by end-use industry (mechanical seals in oil and gas industry, mechanical seals in general industry, mechanical seals in chemical industry, mechanical seals in water industry, mechanical seals in power industry, and mechanical seals in other industries).
- With manufacturing and industrial sectors flourishing, the global mechanical seals market is bound to grow on a grand note in the near future.
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Key Segments Profiled in the Mechanical Seals Industry Survey
Global Mechanical Seals Market by Type:
- O-ring Mechanical Seals
- Lip Mechanical Seals
- Rotary Mechanical Seals
Global Mechanical Seals Market by End Use Industry:
- Mechanical Seals in Oil and Gas Industry
- Mechanical Seals in General Industry
- Mechanical Seals in Chemical Industry
- Mechanical Seals in Water Industry
- Mechanical Seals in Power Industry
- Mechanical Seals in Other Industries
Global Mechanical Seals Market by Region:
- North America Mechanical Seals Market
- Latin America Mechanical Seals Market
- Europe Mechanical Seals Market
- Asia Pacific Mechanical Seals Market
- Middle East and Africa Mechanical Seals Market
Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - Buy the report! https://www.futuremarketinsights.com/checkout/1596
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage/Taxonomy
2.2. Market Definition/Scope/Limitations
3. Market Background
3.1. Market Dynamics
3.2. Scenario Forecast
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis (TOC Continue...)
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About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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