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According to our latest market study, titled ” Hydraulic Seals Market Forecast to 2027 – COVID-19 Impact and Global Analysis By Product (Wiper Seals, Piston Seals, Rod Seals, Buffer Seals, and Others) and End-User Industry (Automotive, Aerospace, Agriculture, Chemical, Marine, and Others)”. The hydraulic seals market was valued at US$ 3,950.09 million in 2019 and is projected to reach US$ 5,770.71 million by 2027; it is expected to grow at a CAGR of 4.9% from 2020 to 2027. Manufacturer Seal
The report has been curated after observing and studying various factors that determine regional growth such as economic, environmental, social, technological, and political status of the particular region. Analysts have studied the data of revenue, production, and manufacturers of each region. This section analyses region-wise revenue and volume for the forecast period of 2022 to 2028. These analyses will help the reader to understand the potential worth of investment in a particular region. The report offers in-depth assessment of the growth and other aspects of the Hydraulic Seals Market in important regions. Key regions covered in the report are North America, Europe, Asia-Pacific and Latin America.
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Hydraulic seals are utilized in hydraulic cylinders to seal openings between several components in a hydraulic cylinder. Seals are either machined or molded, and are carefully designed using sophisticated simulation software. Hydraulic seals are made of a variety of materials such as polyurethane, rubber, or polytetrafluoroethylene (PTFE). It offers high resistance from fluid, heat, and wear & tear. The major tasks of hydraulic seals are to retain hydraulic fluids, maintain rod and pistons alignment (to exclude solid or liquid contaminations), and maintain the hydraulic pressure. Hydraulic seals are used in various end-use industries such as aerospace, automotive, agriculture, construction, oil & gas, marine, and chemical.
Hydraulic Seals Market: Competitive Landscape and Key Developments
AccroSeal, A.W. Chesterton Company, All Seals Inc., Freudenberg Sealing Technologies, James Walker, Kastas Sealing Technologies, Parker Hannifin Corp, SealTeam Australia, SKF, and Trelleborg Group are among the players operating in the global hydraulic seals market.
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Impact of COVID-19 Pandemic on Hydraulic Seals Market
The ongoing COVID-19 pandemic has altered the status of the hydraulic seals industry. The chemical & materials is one of the major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns. As much as the outbreak has distorted operational efficiency and disrupted the value chains due to the sudden shutdown of national and international boundaries, it has also positively impacted the demand for hydraulic seals. However, as the economies are planning to revive their operations, the demand for hydraulic seals is expected to rise globally in the coming months. Although, the focus over just-in-time production is another factor hindering the hydraulic seals market growth. Also, the increasing prevalence of COVID-19 cases is likely to grow the demand for hydraulic seals during the forecast period. Further, significant investments by prominent companies in the development of advanced products is, yet, another factor supporting the market growth
Based on product, the global hydraulic seals market is segmented into wiper seals, piston seals, rod seals, buffer seals, and others. The rod seals segment led the market in 2019. Rod Seals are the sealing devices used to impede fluid leakage from a cylinder and maintain the movement between piston head and the cylinder head. These types of seals are primarily used in fluid power plants and in hydraulic cylinders to seal the system pressure. In most fluid power systems, proper sealing effect or proper functioning of the rod seals is one parameter for decision-making efficiency and effectiveness. Hence, rod seals are one of the most important components of the sealing system, given that any failure to perform them can have a significant effect on the performance of the entire equipment. In addition to all factors applicable to piston seals, nonperformance rod seals can contribute to a loss of fluid that may also affect the environment. These types of seals are used on piston rods, which are attached to the cylinders. Rod seals can be used within hydraulic or pneumatic cylinders. Many kinds of rod seals such as hydraulic rod seals, pneumatic rod seals, U seal backups, and custom designed rod seals are available in the market.
Geographically, the global hydraulic seals market is segmented into North America, Europe, Asia Pacific, South America, and Middle East and Africa. In 2019, Asia Pacific accounted for the largest share of the global hydraulic seals market. Increasing industrialization and urbanization leads to the dominancy of the region in the market. Attributed to the region’s growing economic conditions, there has been a spur in its industrial activities. Exponential growth in the various industrial sectors, such as aerospace, automotive, marine, and agricultural, is influencing the demand for hydraulic seals systems. Currently, the oil & gas industry is expanding in Asia Pacific. According to the IOGP’s Global Production Report 2019, demand for oil and gas is at the peak in Asia Pacific countries. Similarly, the demand for equipment to be used in the sector is high. The equipment must have excellent seals that would prevent oil from leaking. Hydraulic seals are critical in preventing leakage of gas in a cylinder. The linear motion of oil through a hydraulic cylinder also depends on these seals to generate the required pressure.
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