According to Technavio’s latest market research analysis, the global mechanical seals market is expected to grow at a CAGR of more than 9% during the forecast period 2017 to 2021.
This report by Technavio provides an in-depth analysis of the global mechanical seals market in terms of revenue and developing market trends. The report also includes a detailed breakdown and forecasts for various market segments and all geographical regions.
Technavio research analysts categorize the market based on the end-user
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The top three revenue contributing product segments are discussed below
Global mechanical seals market in oil and gas industry: The extensive use of mechanical seals in the manufacturing of agitators and pumps will boost the demand for these products in the oil and gas sector. These tools are designed to withstand pressure and speed for specialized applications such as processing of polymerizing fluids, refinery bottoms, and flammable gases. Moreover, mechanical seals can endure high-temperature variations that range from 0°F to 800°F and help in maintaining zero emission control on services involving hazardous air pollutants.
“The large-scale exploration and production activities both for onshore and offshore oil discovery will boost the demand for mechanical seals in this market segment. These tools are used in water amines, brackish water, and general purpose applications and will help manufacturers increase their refinery capacities during the forecast period,” says Anju Ajaykumar, a lead analyst at Technavio for research on tools and components.
Global mechanical seals market in general industry: Mechanical seals enable day-to-day operation in manufacturing and process industries that include the food and beverage, metal processing, pharmaceutical sectors. The increasing industrialization and upgrading of activities in manufacturing plants in emerging economies will lead to the growth of this market segment over the next four years. Additionally, government initiatives to promote investments in the manufacturing industry will have a positive impact on the global market.
Global mechanical seals market in the chemical industry: The increased application of mechanical seals for moving chemicals efficiently and safely will reduce the production downtime and fuel the growth of this market segment. The establishment of modern chemical plants with a different range of operating conditions will augment the demand for these components in the chemical industry.
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The top vendors operating in the global mechanical seals market are:
- AESSEAL
- Chesterton
- EagleBurgmann
- Flowserve
- Flexaseal
- John Crane
Other prominent vendors in the market include Bal Seal Engineering, Cooper-Standard, Garlock Sealing Technology, Hutchinson Sealing Systems, Timken, Trelleborg, and SKF.
A thorough study is available in the Technavio report titled, ‘Global Mechanical Seals Market 2017-2021’. Technavio also customizes reports by different regions and specific segments upon request.
Other related reports
- Global Gasket and Seals Market 2016-2020
- Global Ceramic Coatings Market 2016-2020
- Global Adhesives and Sealants Market 2016-2020
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