Industrial Seals Market Size was valued at USD 11.9 Billion in 2022. The Industrial Seals market industry is projected to grow from USD 12.6 Billion in 2023 to USD 20.5 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.20% during the forecast period (2024 - 2032). Thermal, resilient, and resistant seals are in high demand, and industrialization is expanding, are the key market drivers enhancing the market growth.
Type: Secondary Research, Primary Research, MRFR Database and Analyst Review
Equipment that can run continuously for lengthy periods of time is needed for the huge capacity manufacturing facility. Consumers are adding thermal resistant seals to improve machine optimisation since they enable machines to function properly and for extended periods of time. Furthermore, every industrial machine's seals depend on temperature to function properly. As a result, as the manufacturing industry grows globally, so does the demand for thermal resistant seals. Additionally, during the past few years, a variety of industries have seen a surge in demand for large-capacity production facilities. Additionally, businesses that produce industrial seals are increasingly concentrating more on creating seals that can withstand heat. Elastomeric materials are used in the production of thermally resistant seals. Additionally, consumers are eager to embrace such seals that perform better than conventional seals and can withstand high temperatures.
The need for industrial seals is being driven by the expanding industrialization and infrastructure development across numerous locations. There is a growing demand for dependable sealing solutions to stop leaks and guarantee the efficient operation of machinery and equipment as additional industries are developed and old facilities are expanded. For instance, the quantity of manufactured products produced globally increased by 7.2% in 2021 and reached its pre-pandemic level, according to the United Nations Sustainable Development Goals Report 2022. As a percentage of global GDP, manufacturing value added increased from 16.2% in 2015 to 16.9% in 2021. Therefore, it is anticipated that the market would develop during the forecast period as a result of the increasing industrialization occurring around the world.
The growing demand for heat-resistant, powerful, thermal signals that enable quick power development between the two circular moving elements is the key factor driving the constant growth of the industrial seal market. This procedure, which results in heat-resistant sealing during the weather, depends heavily on temperature. In the off-season, the industrial seal market will develop due to factors like higher productivity and full performance, which are driving up demand in the manufacturing sector. Additionally, the rising popularity of industrial brands manufactured to order will create new options for making money during the monsoon season. Large-scale production facilities will proliferate, resulting in continuous, high-quality production.
The market is fueled by the rising demand for seals from the chemical and petrochemical sector as well as the oil and gas sector. During the projected period, the market is expected to grow significantly due to the rising need for stable, long-lasting seals with high thermal resistance. Long run times are required for manufacturing units in industries, which causes the machinery's internal temperature to rise. To raise the machinery's efficiency and optimisation under the higher temperatures, seals with strong thermal resistance are needed. The need for industrial seals is anticipated to increase as the manufacturing sector expands globally. Thus, driving the Industrial Seals industry revenue.
The Industrial Seals Market segmentation, based on type, includes axial seals, radial seals, and mechanical seals. Radial Seals segment accounted for the largest revenue share in 2022. The vast range of uses for radial seals in numerous industries, including automotive, industrial machinery, aerospace, and power generation, is credited with the segment's rise. In addition, factors including increased investment in infrastructure projects, rising demand for energy-efficient machinery, and the requirement for dependable sealing solutions in many industries all contribute to the segment's growth.
Figure 1: Industrial Seals Market, by Type, 2022 & 2032 (USD Billion)
Type: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Industrial Seals Market segmentation, based on end use industry, includes mining, food & beverage, oil & gas, energy and power, aerospace, marine, construction, and others (chemicals and others). Food & beverage segment dominated the Industrial Seals industry in 2022. Increased food and beverage production, strict hygiene and safety standards, and rising demand for dependable sealing solutions across a range of processing and packaging applications are all contributing factors to the segment's rise.
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The Asia Pacific Industrial Seals market dominated this market in 2022 (45.80%). The existence of significant industries like manufacturing, automotive, chemical processing, oil & gas, and food and beverage, which need a variety of sealing solutions, is what drives the market size. The market for industrial seals is expanding as a result of the area's quick industrialization, economic expansion, and rising investments in infrastructure projects. For instance, China wanted to create a 15-year plan for the development of transport infrastructure in 2021. By 2035, the country wants to expand the scope of its high-speed rail system. Moreover, China’s Industrial Seals market held the largest market share, and the Indian Industrial Seals industry was the fastest growing market in the Asia-Pacific region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: Industrial Seals Market Share By Region 2022 (USD Billion)
Type: Secondary Research, Primary Research, MRFR Database and Analyst Review
The North America Industrial Seals Market is expected to register significant growth from 2023 to 2032. The existence of numerous industries, including manufacturing, oil & gas, chemicals, automotive, and pharmaceuticals, which have a sizable demand for sealing solutions, has an impact on the market size. The market is expanding as a result of the region's emphasis on cutting-edge technology, innovation, and strict safety requirements. Further, the U.S. Industrial Seals market held the largest market share, and the Canada Industrial Seals market was the fastest growing market in the North America region.
Europe Industrial Seals market accounted for the healthy market share in 2022. Italy's market in Europe is anticipated to expand significantly during the projection period as a result of the country's expanding manufacturing base. Overall, it is projected that Europe will continue to slowly expand in the future. Further, the German Industrial Seals market held the largest market share, and the U.K Industrial Seals market was the fastest growing market in the European region
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Industrial Seals market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Industrial Seals industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Industrial Seals industry to benefit clients and increase the market sector. In recent years, the Industrial Seals industry has offered some of the most significant advantages to medicine. Major players in the Industrial Seals market, including 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), and Fenner Group Holdings Limited, are attempting to increase market demand by investing in research and development operations.
Chemicals are produced and manufactured by Hallite Seals International Ltd. The business produces hydraulic and pneumatic seals as well as sealing solutions for the fluid power sector around the world. Hallite makes use of rubber textiles, nitrile rubbers, and thermoplastic elastomers. Hallite Seals International Ltd. just opened its newly constructed product and material test house in September 2021. A cutting-edge, technologically sophisticated facility will support the organization's capacity for novel product research and development.
A producer of silicone goods is Trelleborg Sealing Solutions. The company mainly offers business units moulding services for technical plastics and liquid silicon. Trelleborg Sealing Solutions announced the opening and start of business at its production plant in Ontario, California, in August 2021. The production facility will operate as a west coast warehouse for industrial and aerospace clients in the United States.
April 2023: The company's current USP product line now includes the renowned Type SB2/SB2A from John Crane, enhancing service in the pulp & paper and mining sectors.
October 2022: Trelleborg Sealing Solutions has started the Tran-Secure Fluid Sealing Management Programme. The American chemical transportation industry now has fast access to crucial parts for railcar maintenance and repair thanks to Trelleborg's Tran-Secure Programme. Trelleborg's global resources, local help, and unrivalled material research enable the Tran-Secure programme. It consists of high-performance engineering solutions like valve repair kits, manway and flat gaskets, and O-Rings. Regardless of the substance being transported, customers should choose the right seal for their tank car to maximise seal life and save maintenance and downtime.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 11.9 Billion |
| Market Size 2023 | USD 12.6 Billion |
| Market Size 2032 | USD 20.5 Billion |
| Compound Annual Growth Rate (CAGR) | 6.20% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2023 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, End Use Industry, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, U.K, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | 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), and Fenner Group Holdings Limited |
| Key Market Opportunities | Technological advancements |
| Key Market Dynamics | High demand for thermal, durable, and resistant seals and growing industrialization |
Industrial Seals Market Highlights:
Frequently Asked Questions (FAQ) :
The Industrial Seals Market size was valued at USD 11.9 Billion in 2022.
The global market is projected to grow at a CAGR of 6.20% during the forecast period, 2024-2032.
Asia Pacific had the largest share in the global market.
The key players in the market are 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), and Fenner Group Holdings Limited
The Radial Seals Type dominated the market in 2022.
The Food & Beverage End Use Industry had the largest share in the global market.
Leading companies partner with us for data-driven Insights.
Kindly complete the form below to receive a free sample of this Report
Assistant Manager - Research High acumen in analyzing complex macro & micro markets with more than 6 years of work experience in the field of market research. by implementing her analytical skills in forecasting and estimation into market research reports, she has expertise in packaging, construction, and equipment domains. she handles a team size of 20-25 resources and ensures smooth running of the projects, associated marketing activities, and client servicing.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
