As per Future Market Insights’ forecast, the global gaskets and seals market is estimated to be valued at nearly US$ 63 Bn in the year 2017 and is expected to touch a figure of nearly US$ 102 Bn by the year 2026, representing a CAGR of 5.4% in terms of value during the forecast period. The global gaskets and seals market is projected to create an incremental dollar opportunity of nearly US$ 42 Bn between 2016 and 2026.
Multiple manufacturing processes adopted across diverse industrial verticals are all contingent upon efficiency of engineering equipment & systems. The need to improve operability of such systems can be met with the use of gaskets & seals – devices that help connect multiple surfaces & systems to complete a mechanical workflow.
To remain ‘ahead’ of your competitors, request for a sample @
https://www.futuremarketinsights.com/reports/sample/rep-gb-815
Apropos a latest report published by Future Market Insights, the global demand for gaskets & seals is projected to surge at a steady rate during the forecast period 2016-2026. The report estimates that in 2016, more than US$ 60 Bn worth of gasket & seals were sold across the globe. Key projections compiled in the report predict that global gaskets & seals revenues will surpass US$ 100 Bn by the end of 2026, registering a value CAGR of 5.4%.
The report, titled “Gaskets and Seals Market: Global Industry Analysis and Opportunity Assessment, 2016-2026,” further projects that in 2017 and beyond, the demand for non-metallic gaskets & seals will be considerably higher than metallic materials. By the end of 2026, more than 60% of global revenues will be accounted by sales of non-metallic gaskets & seals. Non-metallic materials will remain in great demand due to their competitive advantage over metallic materials on the grounds on environmental imprint and cost-effective procurement.
The report has also compiled key factors affecting the growth of global gaskets & seals market during the forecast period, which follow:
- Rising instances of leakage in industrial units that cause considerable loss in terms of property damage & health risks can be averted by use of gaskets & seals
- The demand for gaskets & seals is also expected to rise on the account of their compliance with several strict regulations, that prompt minimisation of leakage & fugitive emissions, observed across the globe
- Advent of 3D printing is likely to lower costs of manufacturing gaskets & seals, and will also facilitate the urgency to deliver customised products
- Key challenges inhibiting the market’s growth during the forecast period are complex manufacturing processes, altering designs and limited material applicability for production of gaskets & seals
The report expects that customisations made to existing gasket & seal products will hold lucrative opportunity for manufacturers in the years to come. Companies such as Freudenberg & Co. KG, Henniges Automotive Holdings Inc., SKF AB, Federal-Mogul Holdings Corporation, Smiths Group Inc. (John Crane), ElringKlinger AB, Trelleborg AB, Dana Incorporated, Banco Products (I) Ltd. and Parker Hannifin Corp. are observed as key manufacturers in global market for gaskets & seals.
For critical insights on this market, request to ask an expert here @
https://www.futuremarketinsights.com/ask-question/rep-gb-815
Gaskets and Seals Market Key Segments Covered
By Product Type
- Gaskets
- Jacketed Gaskets
- Solid Gaskets
- Spiral Wound Gaskets
- Kammprofile Gaskets
- Seals
- Static Seals
- Dynamic Seals
By Sales Channel
- OEM
- Aftermarket
By Material Type
- Metallic
- Non-Metallic
- Elastomeric
- Others
By End Use Industry
- Automotive
- Aerospace
- Machinery
- Electronics & Electrical
- Marine & Rail
- Others
By Region
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan
- Middle East & Africa
- Japan
A comparative forecast on the global sales of gaskets and seals during the forecast period projects that global demand for seals will remain fairly higher than that of gaskets. By the end of 2026, solid and spiral wound gaskets will be observed as top-selling products in the market, procuring more than US$ 25 Bn in global revenues. On the other hand, a majority of global sales of seals will dominated by dynamic seals. Static seals are projected to procure just over 42% share on global seals revenues through 2026-end.
The report further reveals that automotive industry will be one of the largest end-user of gaskets & seals in the world. However, the imprint of automotive end-use on the global gaskets & seals market will witness a downtrend, while revenues accounted by machinery and electronics & electrical industries during the forecast period will register 5.5% and 5.6% CAGRs respectively.
Key findings in the report also predict that more by the end of 2026, more than three-fourth of gaskets & seals revenues will be accounted by OEM sales channels. The report also expects Asia-Pacific excluding Japan region to dominate global gaskets & seals revenues by registering a value CAGR of 6.8% and brining in over US$ 43 Bn revenues by 2026-end. Other regions are expected to showcase a sluggish growth in terms of gaskets & seals sales, exhibiting CAGRs below 5%.
For More Information or Query or Customization Before Buying, Visit:
https://www.futuremarketinsights.com/customization-available/rep-gb-815
About Industrial Automation Division at Future Market Insights
The Industrial Automation & Equipment division at FMI adopts a novel approach and innovative perspective in analyzing the global machinery and industrial automation market. A range of FMI’s market research reports offer comprehensive coverage of capital, portable, process, construction, industrial, and special purpose machinery used across manufacturing sector. The team also conducts distinctive analysis about installed base, consumables, replacement, and USP-feature application matrix, making us a prominent voice of authority in the industry. We are associates of choice for established as well as budding industry
Queries regarding these research findings can be addressed to Future Market Insights’ analysts at press@futuremarketinsights.com