As per the report, the global industrial sealing market on the basis of type is segmented into axial seals, radial seals and mechanical seals. The radial seals is expected to account for maximum shares in the global industrial sealing market during the forecast period owing to the rising adoption of contacting seals across several industries. In addition, radial seals followed by mechanical seal will witness significant growth during the forecast period owing to the rising use of small diameter radial shaft (SDS) and large diameter shaft (LDS) in the end-use applications.
The report discusses in detail the segmentations and provides authentic data on account of the same. It also offers insights on the recent trends in the global Industrial sealing market and educates about several aspects such as market drivers, mergers & acquisitions, industrial developments and market players.
Surge in Power Generation Industry Will Boost Growth
The rising investment by the government and other authorities in electricity and power generation will contribute positively to the global industrial sealing market. The increasing demand for renewable source of energy such as solar is expected to contribute significantly to the global Industrial Seals Market. For instance,In 2018, according to the UN Environment Programme (UNEP) and its partners, 98 gigawatts of new solar capacity were installed globally.
Furthermore, shifting focus of countries and increasing R&D investment in low-carbon energy will accelerate growth of the global Industrial sealing market. In addition, rising adoption of renewable energy by industries to curb carbon will boost the global Industrial sealing market revenue during the forecast period.
The Prominent Companies Present in The Global Industrial Sealing Market Are:
- SKF (AB SKF)
- Flowserve Corporation
- John Crane (Smiths Group plc)
- Trelleborg AB
- EnPro Industries, Inc. (Garlock GmbH)
- Dover Corporation (Waukesha Bearings)
- SHV (ERIKS Group)
- Freudenberg SE
- Tenneco Inc. (Federal-Mogul LLC)
- Fenner Group Holdings Limited (Hallite Seals)
Market Segmentation Of Industrial Seals Market-
- Axial Seals
- Radial Seals
- Mechanical Seals
- Pusher and Non-pusher
- Conventional Seals
- Balanced and Unbalanced Seals
- By End-Use-Industry
- By Geography
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