Global Mechanical Seals Market: Market Driver and Restraint
Applications of Mechanical Seals are anticipated to create new business segments in the market. A mechanical seal is a device that helps join systems or mechanisms together by preventing leakage (e.g. in a plumbing system), containing pressure, or excluding contamination. The effectiveness of a seal is dependent on adhesion in the case of sealants and compression in the case of gaskets.
Global Mechanical Seals Market: Key Takeaways
· In process industry, reliability of rotating equipment’s such as pumps, compressors, agitators, mixers etc., is of utmost importance, which depends largely on the ability to avoid leakage through shafts. The industry spent well over a billion dollars annually world over in maintenance of rotating equipment’s and a substantial amount of this expenditure was leakage through shafts related. Mechanical seals play an important role in avoiding leakage.
· In general, today the process industry is demanding in terms of requirements for safety and component reliability that the industry is increasingly conscious of the need for safer improved performance of mechanical seals.
Global Mechanical Seals Market: Forecast by Application
This segment includes Oil & Gas, Power, Chemical Industry and Others. In terms of volume, Oil & Gas segment is expected to remain dominant in the global Mechanical Seals market.
Global Mechanical Seals Market: Forecast by Form
Form segment consists of Compressor Mechanical Seals, Pump Mechanical Seals, Reactor Mechanical Seals and others. Pump Mechanical Seals segment has the largest market share of 40.85% in 2017.
Global Mechanical Seals Market: Forecast by Region
With emerging economies growing faster, a strategy has been adopted by most leading vendors in the mechanical seals market to approach these areas. QYR analysis of the mechanical seals market indicated that the demand of Europe and North America will be stable, and Asia-Pacific has the higher growth rate. Vendors recognize the importance of this region, particularly in China, and are working towards penetrating this market by strengthening their sales and distribution networks.
Global Mechanical Seals Market: Key Players
John Crane, EagleBurgmann, Flowserve, AESSEAL, Meccanotecnica Umbra, VULCAN, Garlock, Sunnyseal, Oerlikon Balzers, KSB, Colossu, Sulzer, Flex-A-Seal and Chesterton, are the key vendors included in this report.
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