Mechanical Seals Market Industry Analysis, Size, Share and Forecast 2016-2026
Increase in production of shale gas in developing and developed countries is a major factor driving the growth of the market. New oil and gas exploration activities, coupled with extensive investments in refineries and pipelines is escalating the growth of the global mechanical seals market. Moreover, introduction of new technologies is also a major element boosting the overall growth of the global mechanical seals market.
Global Mechanical Seals Market: Restraints
Introduction of alternate methods of sealing leakages like mechanical packaging eats into the revenue share of the mechanical seals market. Furthermore, use of electronic seals in automated manufacturing units can also impede growth during the forecast period 2016-2026.
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Global Mechanical Seals Market: Region-wise Outlook
The highest growth is expected to be witnessed in the Americas due to increase in adoption of mechanical seals to ensure precise and prefect sealing of pipelines. Demand for mechanical seals is anticipated to remain stable in Middle East & Africa. Asia Pacific excluding Japan (APEJ) is expected to offer growth opportunities to key players during the forecast period.
Global Mechanical Seals Market: Key Players
The major players involved in the manufacturing of mechanical seals are AW Chesterton Company, EagleBurgmann India Private Limited, Flowserve Corporation, Flex-a-seal, John Crane Group, Bal Seal Engineering, Cooper-Standard, Federal-Mogul, Flexitallic Group, Garlock Sealing Technology, Henniges Automotive Sealing Systems, Hutchinson Sealing Systems, Timken AB, Freudenberg Sealing Technologies GmBH and Co. KG., Dana Corporation, Telleborg Industries and others.
Global Mechanical Seals Market: Segmentation
The global mechanical seals market can be segmented on the basis of types, end use and geography.
On the basis of types, the global mechanical seals market can be segmented into O-ring seals, lip seals, and rotary seals.
On the basis of end use industry, the global mechanical seals market can be segmented into oil and gas industry, general industry, chemical industry, water industry, power industry and others.
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On the basis of geography, the global mechanical seals market can be segmented into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Middle East and Africa and Japan.