Global Machined Seals Market 2017-2021
About Machined Seals
Machined seals are also known as customized seals, as they are specifically manufactured according to the demands of end-users. Machined seals are powerful sealing solutions used for preventing leakage from equipment. The service life and durability of components in industries depend upon the sealing technology used for preventing leakage. Hence, seals have a crucial impact on the performance of the components used in industries and products. To meet the increasing challenges of today's vastly changing industries and processes, end-users are preferring machined seals over standard seals for achieving excellence in specific processes.
Technavio’s analysts forecast the global machined seals market to grow at a CAGR of 3.24% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global machined seals market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Machined Seals Market 2017-2021
Technavio recognizes the following companies as the key players in the global machined seals market: Freudenberg Sealing Technologies, Martin Fluid Power, Parker Hannifin, SKF, and Trelleborg Sealing Solutions.
Other Prominent Vendors in the market are: A.W. Chesterton, AccroSeal, James Walker, Vanguard Products, and Pawling Engineered Products.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is sensors in machined seals. Seals are one of the most essential parts of any equipment, which protects them from getting damaged due to excessive oil. Machined seals are specifically designed to withstand high shock, vibrations, high temperature, and high corrosion that are frequent in several industries.”
According to the report, one driver in the market is increased customer loyalty and better demand estimation. Designing custom seals as per the preferences of end-users presents an opportunity for manufacturers to know the demands of customers. Manufacturing of machined seals acts as market research for manufacturers, as they get to learn about specific functions that are followed by end-users in different processes while manufacturing a product. Manufacturing of specific machined seals provides benefits to end-users as well as manufacturers. Hence, many end-users prefer machined seals to the standard seals available in the market.
Further, the report states that one challenge in the market is rise in cost of component procurement due to specific requirements of end-users. Industries across the world are evolving at a rapid pace, which is increasing the challenges in manufacturing equipment that can withstand the most difficult processes. End-users demand different types of sealing solutions for specific applications carried out in their facilities. Manufacturers of machined seals, by taking the demands of end-users into consideration, design seals by utilizing the most high-quality materials available in the market. For example, the quality of steel that is used to manufacture seals differs from machined seals to standard seals.
Freudenberg Sealing Technologies, Martin Fluid Power, Parker Hannifin, SKF, and Trelleborg Sealing Solutions, A.W. Chesterton, AccroSeal, James Walker, Vanguard Products, and Pawling Engineered Products.