Mechanical Seals Market, 45% of Growth to Originate from APAC, Technavio

NEW YORK, May 6, 2024 /PRNewswire/ — The global mechanical seals market size is estimated to grow by USD 1.51 billion from 2023 to 2027, according to Technavio. The market is estimated to grow at a CAGR of over 5.66% during the forecast period.

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Region Outlook

1. APAC
2. North America
3. Europe
4. South America
5. Middle East & Africa

1. APAC – The Asia-Pacific (APAC) region is poised to contribute significantly to industry growth, expected to reach 45% by 2027. Analysts at Technavio have outlined regional trends, drivers, and challenges shaping the industry. Main countries such as China, India, Japan, and Australia are key contributors.

• However, China’s oil and gas industry growth has slowed due to taxes on US oil imports. India faces water scarcity, leading to high investments in water treatment, driven by population growth and groundwater depletion. The Indian Government is increasingly adopting public-private partnerships to build more wastewater treatment facilities. These factors are fueling industry growth in APAC.

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Segmentation Overview

1. Type 

• 1.1 Pump seals
• 1.2 Compressor seals
• 1.3 Mixer seals

End-user 

• 2.1 Oil and gas
• 2.2 General industries
• 2.3 Chemicals and pharmaceuticals
• 2.4 Water and wastewater treatment
• 2.5 Construction and others

Geography 

• 3.1 APAC
• 3.2 North America
• 3.3 Europe
• 3.4 Middle East and Africa
• 3.5 South America

1.1 Fastest growing segment: The pump seals market is set to experience substantial growth in the upcoming years. Pump seals play a crucial role in preventing fluid and gas leakage in various types of pumps, ensuring smooth and reliable operations. Valued at USD 1.70 billion in 2017, the pump seals segment is the largest within the market.

• These seals are essential for different pump types, including centrifugal, reciprocating, rotary, and axial flow pumps. The increasing demand for pumps across sectors such as oil & gas and wastewater treatment is driving the need for high-pressure pumps capable of operating in harsh conditions.
• Consequently, there is a rising demand for pump seals to maintain efficiency and prevent product loss. This growing demand for pump seals is expected to fuel market growth significantly in the forecast period.

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Research Analysis

The Mechanical Seals Market encompasses the production, sales, and installation of sealing solutions for rotating equipment in various industries. These devices play a crucial role in controlling leakage of liquids and gases in the environment, ensuring system circuit integrity and preventing external contaminations. Mechanical seals come in various materials such as Carbon rings, Polytetrafluoroethylene (PTFE), Polyurethane, Industrial rubber, and Fluorosilicone.

They are widely used in power generation, including shale gas and nuclear reactors, to seal pumps and mixers. Alternative methods, like Cartridge seals and Conventional seals, are also part of this market. The demand for Mechanical Seals is driven by the electricity demand and the need for efficient and reliable sealing systems in diverse applications. Polymers, as key materials, contribute significantly to the Mechanical Seals Market’s growth.

Market Overview

The Mechanical Seals Market encompasses a wide range of products designed to prevent the leakage of gases and liquids in various industrial applications. These seals are crucial for process control, equipment reliability, and environmental safety. Key components of mechanical seals include faces, springs, and rotating elements. Materials used in their manufacture include carbon, elastomer, and metal.

The market is driven by factors such as increasing industrialization, stringent regulations, and the need for energy efficiency. Carbide faces, for instance, offer high durability and resistance to wear and corrosion. Meanwhile, elastomer faces are known for their flexibility and ability to seal against uneven surfaces.

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Key Topics Covered:

 1 Executive Summary

 2 Market Landscape

 3 Market Sizing

 4 Historic Market Size

 5 Five Forces Analysis

 6 Market Segmentation

 7 Customer Landscape

 8 Geographic Landscape

 9 Drivers, Challenges, and Trends

10 Venodr Landscape

11 Vendor Analysis

12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

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Website: www.technavio.com/

SOURCE Technavio

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