The global cartridge seals market was valued at USD 1,110 million in 2016 and is expected to surpass USD 1,639 by 2021, says Technavio.
Technavio has announced its latest market research report on the global cartridge seals market, under its tools and components portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like AESSEAL, Chesterton, EagleBurgmann, Flowserve, and John Crane.
According to Anju Ajaykumar, a lead analyst for tools and components research at Technavio, “Steady growth in the automotive and oil and gas industries in the US is spurring a rise in the demand for high-quality seals, manufactured using superior quality materials and polymers to achieve improved results. Replacement with modern cartridge seals can also help in improving the operational life of aging plants, as they can withstand high pressure and temperature.”
With continual innovations and advancements in technology, mechanical seals have become safer and more efficient. Advanced high-quality mechanical seals are gaining importance as they have a precision range, and are reliable and durable for centrifugal, high-pressure, dosing, injection, boiler, and effluent pumps; compressors; agitators; mixers; reactors; dyeing machines; and all other equipment having rotating shafts.
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Growth in nuclear power generation
In nuclear power generation, cartridge seals are used in various applications such as cooling water and condensate pump, residual heat removal pump, feed pump, end suction pump, charging pump, etc. Emerging economies in APAC are investing heavily to increase their reliance on nuclear energy and meet the growing demand for electricity. The rise in the number of nuclear reactors, especially in APAC, is expected to foster the growth of the market.
Rise in demand for cartridge seals from pharmaceutical sector
Pumps and agitators are widely used across the pharmaceutical industry to unload, mix, transfer, and process liquids. Since various types of liquids need to be handled within the industry, the demand for efficient, versatile, and high-quality pumps is high. The growing pharmaceutical industry and increasing demand for prescribed drugs are expected to propel demand for the pump market in the coming years.
This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Cartridge Seals Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Industrial Water Purifier Market 2017-2021
- Global Water and Wastewater Management Market for the Mining Sector 2017-2021
- Global Water Quality Sensors Market 2016-2020
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