Global Power Transmission Seals Market 2017-2021
About Power Transmission Seals
Power transmission seals are the seals that are used to tighten the openings between a rotating and stationary component in relative motion. Power transmission includes the movement of energy from the place of power generation to a location where it has to be applied for performing different functions. Seals are used for transferring power or mechanical energy from one location to another efficiently and effectively. During the power transmission process, a large amount of power gets wasted due to the lack of components that could prevent the power loss.
Technavio’s analysts forecast the global power transmission seals market to grow at a CAGR of 3.47% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global power transmission 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 Power Transmission Seals Market 2017-2021
Technavio recognizes the following companies as the key players in the global power transmission seals market: SKF, Freudenberg Sealing Technologies, Trelleborg, and Parker Hannifin.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is design improvements in radial shaft seals. Radial shaft seals are being used by end-users for a very long period of time. These seals, apart from being highly rugged, are one of the most suitable seals for various end-user applications. The seals are manufactured by using varied materials in accordance with the applications.”
According to the report, one driver in the market is protection against leakage and wear in hydraulic systems. Hydraulic systems are distinct from other general systems, as they have to deal extensively with an excessive amount of moisture; even the equipment that is specifically designed to handle moisture is prone to rusting after a certain period of time, as not every part used in equipment can withstand the same moisture level. Hence, leakage in such equipment results in damages to the internal components or peripheral equipment.
Further, the report states that one challenge in the market is fluctuations in raw material prices. The major raw materials that are used for manufacturing power transmission seals are cast iron, steel, aluminum, and other alloys. The price of these raw materials changes in accordance with the dynamics of the market. Such price fluctuations can lead to increment or decrement in the prices of power transmission seals. When the prices of power transmission seals go up, end-users tend to switch to vendors that provide low-cost seals.
SKF, Freudenberg Sealing Technologies, Trelleborg, and Parker Hannifin.