The global Rotary Seals Market is expected to reach USD 6.48 Billion by 2028, according to a new report by Reports and Data. This can be mainly associated with the increasing demand of high quality, reliable and durable mechanical seals.
Mechanical seals are used for joining mechanisms or systems together to avoid leakages, or excluding contamination by dust and dirt. The efficiency of the seal depends on compression in the case of gaskets and adhesion in the case of sealants.
The use of superior quality raw material will be one of the key trends that will gain traction in the rotary seals market during the next few years. Mechanical seals manufactured in modern times are specifically designed to endure harsh environmental conditions and temperatures, owing to this kind of development in the seals market, there is demand for the use of superior quality raw materials, for example, high-grade steel alloys, which can endure high temperatures. These developments are compelling the manufacturers to produce superior quality raw materials.
The major benefits of using rotary seals is that it prevents the equipment to get contaminated and retains the lubricants used in the bearings. These seals are applicable to electric motors, automotive wheels, pumps, and gearboxes.
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Key participants include Bal Seal Engineering, American High Performance Seals, Gallagher Seals, DingZing Advanced Materials, James Walker, Hubata Seals, M.Barnwell Services, Kofler-Dichtungen, Polymer Concepts Technologies, PERFORMANCE SEALING, Seal & Design, Rhondama, Swan Seals Aberdeen, Spareage Seals (now Max Spare), and Tesnila Bogadi, among others.
Further key findings from the report suggest
- The market is segmented on the basis of type into polyurethanes, thermoplastics, elastomers and others. Polyurethanes is forecasted to have the highest growth rate of 5.4% during the forecast period, due to its outstanding mechanical properties, light weight and rigidness.
- The market is segmented on the basis of product into mechanical seals, oil seals, V ring seals, IM seals, PTFE lip seals and others. Mechanical seals dominated the market in 2020, acquiring a market share of 25.0%, due to its high quality, durability and reliability.
- The market is segmented on the basis of component into rigid outer component and flexible inner lip. The outer rigid component can be metallic, such as steel, stainless steel and aluminum. The flexible inner lip may be spring loaded or spring less.
- The market is segmented on the basis of end users into oil and gas, chemicals and petrochemical, powers, electrical and electronics, industrial, marine and rail, automotive and others. Oil and gas segment is forecasted to have the highest annual growth of 6.1% during the forecast period along with dominating the segment throughout the period, due to the increasing trade of crude oil across countries.
- The market is segmented on the basis of geography by North America, Europe, Asia Pacific, Latin America and MEA. APAC will witness a significant growth in its CAGR, of 5.0% during the forecast period, along with dominating the segment throughout the period, due to its contribution to the demand of oil and gas industry.
- The companies have adopted various strategies including mergers, acquisitions and partnerships to hold on going trails and come up with new developments in the market.
For the purpose of this report, Reports and Data have segmented global Rotary seals Market on the basis of type, product, component, end user, and region:
Type Outlook (Volume, Kilo tons; 2020-2028 and Revenue, USD Billion; 2020-2028)
- Mechanical Seals
- Oil Seals
- IM Seals
- V- ring Seals
- PTFE Lip Seals
- Others
Product Outlook (Volume, Kilo tons; 2020-2028 And Revenue, USD Billion; 2020-2028)
- Polyurethanes
- Thermoplastics
- Elastomers
- Others
Component Outlook (Volume, Kilo tons; 2020-2028 And Revenue, USD Billion; 2020-2028)
- Rigid outer component
- Metallic
- Non-metallic
- Flexible inner lip
- Spring loaded
- Spring less
End users Outlook (Volume, Kilo tons; 2020-2028 And Revenue, USD Billion; 2020-2028)
- Oil and Gas
- Chemicals and petrochemical
- Powers
- Electrical and Electronics
- Industrial
- Marine and rail
- Automotive
- Others
The report further provides key insights into the market share held by each product and application in the Rotary Seals market. Moreover, it also offers radical information about growth prospects and patterns. It also provides extensive coverage of the product consumption of each application and product. The report also provides a pricing analysis and growth trends for the key segments of the market.
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Along with the basic information, the report also offers insights into marketing strategies readily adopted by the key manufacturers for the endorsement of their products. The report offers significant data pertaining to development trends and market position to offer deeper insights into targeted clients, brand promotions, and pricing analysis. The report also sheds light on the supply chains and the changes in the trends of the upstream raw materials and downstream distributors.
The report explains the market share and sales volume of each company, along with the key details of the operations of these companies. The report further offers extensive coverage of their product portfolio, business expansion plans, gross profit margins, revenue contribution, investment plans, and financial standings. The report also covers the strategic alliances observed within these key companies such as mergers and acquisitions, joint ventures, corporate and government deals, partnerships and agreements, and brand promotions and product launches.
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Furthermore, the research study gives additional insights into the companies’ regional presence through extensive regional analysis. The regional analysis covers the key geographical regions such as North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa. The regional analysis segment covers details about the market share held by each region along with the prospective growth opportunities and revenue generation. The report also offers a projection of the growth rate for each region in the entirety of the forecast timeline. It also offers a country-wise analysis to impart a better understanding of the industry.
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