The global mechanical seals market is anticipated to be valued at USD 3.3 billion in 2023, forecast a CAGR of 4.1% to be valued at USD 5.0 billion from 2023 to 2033. Growth is attributed to the growing manufacturing as well as industrial sectors. From 2018 to 2022, a CAGR of 3.8% was registered for the global market.
Mechanical seals are those leakage control devices deployed on rotating equipment like mixers and pumps to prevent the leakage of liquid and gases from escaping into the environment. Mechanical seals ensure that the medium stays in the system circuit, protecting it from external contaminations and reducing environmental emissions.
Mechanical seals also help in helping leakage in systems that contain pressure. Before mechanical seals, mechanical packaging was used; however, it wasn’t as effective as seals are.
Mechanical seals often consume energy since the frictional properties of the seal have a huge impact on the amount of power consumed by the machinery on which it is used. The four major classes of mechanical seals are traditional contact seals, cooled and lubricated seals, dry seals, and gas-lubricated seals.
Only a flat and smooth finish on mechanical seals is eligible to prevent leakage to its full efficiency. Mechanical seals are usually made using carbon and silicon carbide, but carbon is mostly used in manufacturing mechanical seals because of its self-lubricating properties. The two principal components of a mechanical seal are the stationary arm and the rotatory arm.
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Increasing Industrialization to Drive the Market Growth
The major reason for the market's growth is the growing manufacturing and industrial sectors worldwide. This trend can be attributed to increased global supportive investment and foreign investment policies.
The increase in shale gas production in developing and developed countries is a major factor driving the market's growth. New oil and gas exploration activities, coupled with extensive investments in refineries and pipelines, are escalating the growth of the global market.
Moreover, introducing new technologies is also a major element boosting the overall growth of the global market. Furthermore, rising applications in the food and beverages industry, such as in food tanks, are also expected to favour the expansion within the global market in coming years.
Although the mechanical seal market has numerous end-uses, numerous obstacles likely challenge market growth. The introduction of alternative methods of sealing leakages, like mechanical packaging, eats into the revenue share of the mechanical seal market.
Furthermore, using electronic seals in automated manufacturing units can impede growth during the forecast period.
| Attributes | Details |
|---|---|
| Market CAGR (2023 to 2033) | 4.1% |
| Market Valuation (2023) | USD 3.3 billion |
| Market Valuation (2033) | USD 5.0 billion |
| Countries | Forecast Period Share Between 2023 to 2033 |
|---|---|
| United States | 23.4% |
| Germany | 14.7% |
| Japan | 12.7% |
| Countries | Forecast Period CAGR Between 2023 to 2033 |
|---|---|
| Australia | 4.7% |
| China | 4.9% |
| India | 5.4% |
| United Kingdom | 4.6% |
Growth of the End-Use Industries in the Region to boost the Sales of Mechanical Seals
As per FMI, demand for mechanical seals in North America accounts for a 26.2% share of the global market during the forecast period, owing to the rapid expansion of end-use industries such as oil and gas, chemical, and power and subsequent use of mechanical seals in these sectors. The United States alone houses about 9,000 independent oil and gas power plants.
The highest growth is expected in North America due to an increase in the adoption of mechanical seals to ensure precise and perfect sealing of pipelines. This leading positioning of the North American Region in the global market can be attributed to increasing manufacturing activities in the Region flourishing, implying that the demand for industrial materials and equipment, such as mechanical seals, is set to rise in the coming year. The market's growth is due to the enormous growth in power, oil & gas, and refinery in the Region.
Rapid Industrialization Boosts the Market in Europe
According to Future Market Insights, Europe is expected to provide immense growth opportunities for the mechanical seal market. The Europe market accounts for a 22.5% global market share. Growth of the market in the Region is attributed to the increasing growth in the base oil movement, rapid industrialization & urbanization, rising population, and high growth in major industries.
Also, the presence of leading mechanical seal manufacturers propels the market's growth in Europe. For instance, A.W. Chesterton Company, a global leader in equipment sealing and reliability, has opened a production facility in Sweden for compression packing used on pumps and valves.
The facility, which is estimated to service all of Northern Europe, to provide compression packing in cut lengths (metric), ready-to-install packing rings, and customer-specific kits for original equipment manufacturers and Chesterton’s direct service partners.
Asia Pacific region is expected to account for the highest share of the global market in the coming years due to rising industrial applications in developing economies in the Region, such as India.
Government programs and schemes such as Make in India is estimated to encourage mechanical seal manufacturers to develop advanced solutions and fuel the market growth during the forecast period. Moreover, the positive growth within the regional manufacturing sector is also expected to fuel the demand in the global market in the Asia Pacific in the coming years.
The new entrants in the global market continually indulge in several collaborations and highly invest in research and development activities to provide more convenient solutions to industry verticals. Some of the major start-ups that are leading the development of the market are- Seal Craft, Penurunan Seal India, ROLON SEALS, Smart Tek Log, Fluid Seal, Sealmatic,
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Some of the key participants present in the global market include 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 among others.
The market is highly competitive due to the presence of such a large number of participants. While global players such as AW Chesterton Company, EagleBurgmann India Private Limited, Flowserve Corporation, Flex-a-seal, and John Crane Group account for a considerable market size, several regional-level players operate across key growth regions, particularly in the Asia Pacific.
To meet the surging demand for high-performance seals from numerous industries, several manufacturers are developing new materials that can perform efficiently under harsh conditions. Meanwhile, a few other reputed key players are focusing on research and development activities to develop a combination of metal, elastomer, and fibres that can offer the required properties and deliver the desired performance under tough conditions.
| Attributes | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD billion for Value |
| Key Countries Covered | United States, United Kingdom, Japan, India, China, Australia, Germany |
| Key Segments Covered | Software Type, Mode of Delivery, End User, Region |
| Key Companies Profiled | 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 |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The mechanical seals market is predicted to expand at a 4.1% CAGR through 2033.
The mechanical seals market is expected to surpass USD 5.0 billion by 2033.
The mechanical seals market is anticipated to be USD 3.3 billion in 2023.
The United States is dominating the global mechanical seals market by 2033.
| Expected Base Year Value (2024) | USD 87012.9 million |
|---|---|
| Anticipated Forecast Value (2034) | USD 152911.56 million |
| Estimated CAGR (2024 to 2034) | 2.10 % |
| Estimated Market Value (2022) | USD 11.3 billion |
|---|---|
| Projected Market Value (2032) | USD 18.7 billion |
| Value-based CAGR (2022 to 2032) | 5.1% |
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