Share
Mechanical Pump Seal Comprehensive Market: Segmented: By Type (Conventional Seals, Pusher Seals&Non-pusher Seals, Balanced andUnbalanced Seals, Cartridge Seals and Others); By Industry vertical (Oil & Gas, Chemical Industry, Water Treatment & Water Supply Industry, Power, Others), By Arrangement (Single seal and Double seal); By Region (North America, Asia-pacific, Europe, Latin America and Middle-East and Africa)- Analysis of market share, size & trends for 2016-19 and forecasts to 2030
Mechanical Pump Seal Comprehensive Market is anticipated to surpass USD 124,545.35 million by 2030 from USD 61648.13 million in 2020 at a CAGR of 5.9% throughout the forecast period, i.e. 2020-2030
Mechanical pump seals are machine components, used to obstruct the leakage of fluid, whether liquid or gaseous, by connecting structures or operations together. In other words, it restrains fluid under pressure from gushing out of the pump. Mechanical pump seals are also known as packaging materials. It is put to use in several industry verticals, such as automobiles, industrial pumps, compressors, etc. Mechanical seals safeguard systems from outer effects and adulterations. They are designed specifically for pumps in such a way that the transit point in the middle of the revolving component of the shaft and the fixed component of the pump. Strict rules and regulations regarding the control of leakage, growing environmental concerns, and rising demand from consumers. Moreover, rapid industrialization in developing countries is expected to further fuel the demand for packaging material.
The Mechanical Pump Seal Comprehensive Market is estimated to grow on the back of the following reasons. The main drivers of the Mechanical Pump Seal Comprehensive Market are supportive government policies to decrease leakages in different industries, increasing demand for packaging material in several pumps & compressors, and technological advancement. Moreover, the growing use of mechanical pump seals by the process manufacturing industry coupled with a reduction in functional and maintenance costs due to the endorsement of mechanical seals are likely to propel the overall market growth. Nonetheless, the presence of substitutes like Gland packaging is the major factor restricting the growth of the mechanical pump seal market. In addition to this, a finite number of producers of mechanical pump seals poses a serious threat to the growth of the market. Yet, drastic growth in demand from various industry verticals and increasing environmental concerns are anticipated to boost the market demand during the forecast period.
Based on type, the mechanical pump seal market is segmented into conventional seals, pusher seals& non-pusher seals, balanced seals & unbalanced seals, cartridge seals, and others. The cartridge seals segment is expected to grow at the highest CAGR during the forecast period, owing to numerous merits like easy installation method and fewer amounts of mistakes than traditional mechanical seals. Thus, several end-users are shifting to cartridge seals thereby, boosting the demand for mechanical seals.
Based on the type of Industry, the mechanical pump seals market is categorized into oil & gas, chemical industry, water treatment & water supply industry, power, and others. The oil& gas segment held a major share in 2019 and is anticipated to grow at the fastest CAGR during 2020-30. Increasing employment of mechanical seals as the leakages from this industry is costly, leads to the mandatory adoption of mechanical seals. Governments of various economies are taking several measures to expand the industrial sector of their countries.
The global mechanical seal market is based on an arrangement that can be divided into a single seal and a double seal. The double seal segment captured a major share of the global mechanical seals comprehensive market in 2019 and is projected to grow at a CAGR of XX% during the. The demand for double seals is greater than for single seals since double seals effectively manage poisonous & dangerous fluids, suspended abrasives, and erosive.
The rise in production of shale gas
The rise in the manufacturing of shale gas in emerging and advanced economies is a key factor propelling the growth of the mechanical pump seal market. The latest oil & gas expedition projects, along with ample expenditure on refineries and pipelines are boosting the growth of the global mechanical seals market. In addition to this, the establishment of the latest & advanced technology is a key factor spurring the overall growth of the global mechanical seals market.
Availability of substitutes to dampen the growth
The availability of substitute techniques of sealing leakages such as Gland packaging, stuffing box, and mechanical packaging consumes the revenue share of the mechanical seals market. Additionally, the utilization of electronic seals in automatic-based manufacturing industries can hamper the growth during the forecast period 2020-2030.
Asia-Pacific to grow at the highest CAGR during the forecast period
Global Mechanical Pump Seal Comprehensive Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia-Pacific, and Middle-East & Africa. Geographically, Asia-Pacific is likely to dominate the market due to speedy globalization and industrialization in emerging countries. The growth of the chemical industry and water treatment & water supply industry is anticipated to fuel the overall demand for the mechanical pump seal market. Moreover, the concentration of a large number of manufacturers in the region due to increased Foreign Direct Investment in the region is projected to accelerate the growth rate during the forecast period. North America and Europe also held a significant market share due to improvements in infrastructure and technological developments in this region.
Company overview, Business Strategy, Key Product Offerings, Financial Performance, Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Select License Type
Select License Type
FATPOS CLIENT Appriciation DURING THE PROJECT
Working with Fatpos Global, allowed us to take advantage of their knowledge and easy approach, allowing us to collect important data utilizing a variety of techniques. The results were clearly presented and explained, and FG responded to our questions with speed and expertise.
|
Swiss-based global building materials manufacturer |
The analyses and presentations Fatpos Global have produced for us have been of a very high caliber and have allowed us to proactively improve our customer relationship management. They have also done so while maintaining complete anonymity. Without any doubt, we suggest Fatpos Global to you.
|
|
Tech-powered construction company |
We appreciate the team’s punctuality, flexibility in terms of report modification, post report purchase support and pleasant reaction all around. Overall, my experience with this company was nothing but positive, and I couldn't be more grateful for their excellent service. Thank you for all that you do!
|
|
American global management consulting firm |
We are able to concentrate on the topics and implications that are most important to our clients thanks to the adaptability and responsiveness of the team at Fatpos Global. We would highly recommend this company to anyone in need of their services, and I will certainly be using them again in the future.
|
|
Headquartered in Zug, Switzerland, leading supplier of medical and surgical instrument |
To better study our client demographics, develop the ideal product-price architecture, and enhance our target marketing initiatives, we hired Fatpos Global. Every component of the project was completed, and we are very happy with the useful insights and actionable results.
|
|
Kosovan company, A leading organic fertilizers producer |
Thank you for your team's generous assistance, The final report was delivered to me, and I find it to be really helpful. Also, you may be sure that I will get in touch with you if I ever require fresh materials for market research. Gratitude once more.
|
|
German specialty chemicals company based in Cologne, Germany |
