Global Mechanical Seals Market - Industry Analysis 2015-2019
Market outlook of the global mechanical seals market
Mechanical seals are widely used in the oil and gas, chemical, water and wastewater, and power industries as they prevent leakage of industrial contaminants as well as corrosion and fatigue that can reduce the efficiency and cycle life of the equipment. They also play a crucial role in the production and transportation process in the oil and gas industry, making it a significant end-user of this market. The global mechanical seals market is expected to grow at a CAGR of over 9% during the forecast period.
The discovery of shale gas production also plays a significant role in boosting the demand for mechanical seals, as it has triggered oil production and exploration activities, especially in the US. Similarly, even modern hydrocarbon processing plants require highly reliable seals to limit the leakage of fluids. Therefore, these developments will bode well for the market growth during the forecast period.
Segmentation of the mechanical seals market by end-user
Oil and gas
The oil and gas industry is the largest revenue generator of the mechanical seals market due to increase in production of shale gas in developed and developing countries and is expected to remain at the top till the end of the forecasted period. Factors such as new oil and gas exploration activities coupled with extensive investment in pipelines and refineries in the Americas, the Middle East, Africa, and the APAC region will further escalate the market growth.
Geographical segmentation of the mechanical seals market
Due to rise in urbanization and industrialization, the APAC region accounted for the highest share and will continue till the end of the forecasted period. Technavio’s market research analysts also note that China will play an essential role in fueling the demand for mechanical seals as it has increased oil and gas production to fulfill its rising energy demand.
Competitive landscape and key vendors
Vendors are presenting new technologies into the market with a view to boost condition monitoring of mechanical seals, which is a major trend in the market. For instance, the introduction of sensor integration and strain gauges represent methods to execute onboard testing and monitoring systems that are used to assess structural health of mechanical seal assemblies.
The major vendors in this market are -
John CraneOther prominent vendors included in this report are Bal Seal Engineering, Cooper-Standard, Federal-Mogul, Flexitallic Group, Garlock Sealing Technology, Henniges Automotive Sealing Systems, Hutchinson Sealing Systems, Timken, and Trelleborg.
Technavio Announces the Publication of its Research Report – Global Mechanical Seals Market 2015-2019
Technavio recognizes the following companies as the key players in the Global Mechanical Seals Market: Chesterton, EagleBurgmann, Flowserve, Flex-a-Seal and John Crane
Other Prominent Vendors in the market are: Bal Seal Engineering, Cooper-Standard, Federal-Mogul, Flexitallic Group, Garlock Sealing Technology, Henniges Automotive Sealing Systems, Hutchinson Sealing Systems, Timken, and Trelleborg.
Commenting on the report, an analyst from Technavio’s team said: “Vehicle downsizing and light weighing assemblies of seals is an emerging trend in the automotive sector that has helped in improving fuel efficiency and reducing emissions. Lightweight assemblies are attained by replacing mechanical metal seals with high-strength plastics that can endure heat and high pressure in automotive components.”
According to the report, many governments worldwide and international organizations such as the US EPA have set stringent regulations and standards for the mining, refining, oil and gas, power, and chemicals industries. The regulations control toxic emissions, maintain safety of operations, and prevent gas and fluid leakages through pipes, boilers, and other equipment. To meet the standards laid down, superior quality seals have to be manufactured that can prevent contamination of the product.
Further, the report states that leakage in mechanical seals is a serious concern as it causes operational failure.
Chesterton, EagleBurgmann, Flowserve, Flex-a-Seal, John Crane, Bal Seal Engineering, Cooper-Standard, Federal-Mogul, Flexitallic Group, Garlock Sealing Technology, Henniges Automotive Sealing Systems, Hutchinson Sealing Systems, Timken, Trelleborg.