Global Industrial Seals Market

Industrial Seals Market Size, Share, Growth Analysis, By Type(Axial Seals, Radial Seals), By Industry(Mining, Food) - Industry Forecast 2024-2031


Report ID: SQMIG20I2108 | Region: Global | Published Date: July, 2036
Pages: 242 | Tables: 68 | Figures: 75

Industrial Seals Market Insights

Industrial Seals Market size was valued at USD 12.74 billion in 2019 and is poised to grow from USD 13.33 billion in 2023 to USD 17.54 billion by 2031, growing at a CAGR of 4.68% in the forecast period (2024-2031).

Industrial seals are mechanical stoppage devices that are used to contain fluid from spilling between various intersecting points, maintain restricted pressure, and stop the leak. Static and dynamic interfaces are combined to create industrial seals. The entrances for bolts and screws are static types of seals, whereas hydraulically sealed examples are dynamic examples of seals. Where rotational and reciprocating technologies are used, seals are always used. Based on the use and the diameter of the shaft where the seal can be placed, seals come in a wide range of shapes and sizes.

The primary function of an industrial seal is to optimize the performance of a machine with its process reliability. Seals are also used in applications that involve rotary and reciprocating motions. Over the past few decades, industrial seals have played an important role in providing optimum efficiency and productivity. It can retain lubrication and block contamination in bearing systems. The manufacturers develop seals in various sizes, depending on the shaft diameter of machines. Also, such industrial seals are made up of several different materials such as industrial rubber, fluorosilicone (FVMQ), polytetrafluoroethylene (PTFE), polyurethane (AU, EU), and others.

Due to expanding populations, emerging nations, improving end-use industries, and government investments in the manufacturing sector, the global market for industrial seals is anticipated to rise during the projected timeline. Many sectors all over the world are embracing sealing technology. One of the major reasons propelling the expansion of the industrial seals market globally is the increasing use of customized seals in a variety of sectors.

US Industrial Seals Market  is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2024-2031

Global Market Size

USD 12.74 billion

Largest Segment

Radial Seals

Fastest Growth

Radial Seals

Growth Rate

4.68% CAGR

Global Industrials Seals Market 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
Global Industrials Seals Market Size by Grade Type, 2021-2028 ($ Bn)
Global Industrials Seals Market Size by Grade Type, 2021-2028 (%)

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Industrial Seals Market Segmental Analysis

The global industrial seals market segmentation is based on type, industry, and region. Based on type the Industrial Seals Market is segmented into axial seals, radial seals, and mechanical seals. Based on industry the Industrial Seals Market is segmented into mining, food and beverages, oil and gas, energy and power generation, and others. Based on region the global industrial seals market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

Industrial Seals Market Analysis by Type

In terms of revenue, the radial seals segment is expected to control the majority of the market. The growing preference of manufacturers for contacting seals in many sectors is what propels the radial shaft segment. During the forecast period, the mechanical seal segment is anticipated to have higher growth rates than the other segments. The need for mechanical seals is anticipated to increase as small diameter shaft and large diameter shaft usage increases across a range of end-use sectors. It is anticipated that the expanding industrial sector in developing countries will favorably affect the development of the mechanical seals market.

Industrial Seals Market Analysis by Industry

During the projected period, the oil & gas category is anticipated to have the largest market share. The market's expansion is anticipated to benefit from rising energy consumption across a range of industries. The industry segment expected to grow the fastest is oil and gas. The need for seals in the oil and gas sector is growing as a result of the ability of seals to maintain lubrication and improve the dependability of equipment. Long operating hours and brief maintenance intervals are required in this business, which will help this category grow throughout the forecast period.

Global Industrials Seals Market Share By Grade Type, 2021 (%), 2019 (%)

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Industrial Seals Market Regional Insights

The industrial seals market is anticipated to be dominated by North America. Due to its prominence in the chemical, pharmaceutical, and oil & gas industries, the US is predicted to be the largest market in the world. During the forecast period, these segments' expansion will lead to a demand for a variety of seals. Several significant players are anticipated to increase the production of industrial seals in North America. Additionally, the expansion of mid-sized and small seal manufacturing businesses as well as growing government initiatives may promote industry development.

During the projection period, the market in the Asia Pacific is anticipated to expand at the fastest rate. The industrial seals market will have the potential to expand as a result of developments in the Asian industrial sector. A growing number of registered and unregistered manufacturing firms are predicted to make the Asia Pacific the industrial sealing market's dominant region. Additionally, it is anticipated that a growing consumer desire for lower-priced, higher-quality seals will promote market growth.

Industrial seal usage in Europe is anticipated to be aided by growing manufacturing facilities, technical developments, and a lack of raw materials. These elements might encourage industry expansion.

Global Industrials Seals Market By Geography, 2021 - 2028, 2024-2031
  • Largest
  • Fastest

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Industrial Seals Market Dynamics

Industrial Seals Market Driver

  • The demand for thermal, long-lasting, and heat-resistant seals that enable the rapid development of forces between two rotating elements is one of the driving forces behind the industrial market's steady growth. Such operations, which will result in heat-resistant seals during the forecast, depend heavily on temperature. Optimal efficiency, increased productivity, and rising manufacturing demand will all contribute to the global industrial market's expansion over the course of the forecast period. Additionally, during the forecast period, a growing trend of customizable industrial seals will create new revenue opportunities.
  • Customized seals are offered by manufacturers in the market based on customer needs. Industrial seals have gained popularity among many customers because they can be produced in the shortest amount of time, from a few millimeters to several meters, and in single batches or in large quantities. During the projected period, the ability of manufacturers to enable customization is likely to provide new opportunities.
  • The growing demand for seals from the oil and gas industry as well as the chemical and petrochemical industry along with Industrial seal manufacturers are also beginning to focus on developing novel seals with better durability using elastomers, which is also expected to have a positive influence on the demand for these products.Technological advancements in the industry have also had a crucial role to enact in the development of new advanced seals with better performance from novel material compositions.

Industrial Seals Market Restraint

  • The development of the worldwide industrial seal market will be hampered by elements such as a lack of raw materials, worsening supply chains, and a lack of labor. Additionally, despite the COVID-19-induced interruption of the industry, the market is anticipated to return to its pre-COVID-19 levels within the projected period. Additionally, during the projected period, shifting consumer preferences away from seal-containing drive shafts would restrain the development of industrial seals.
  • Consumers are choosing seal-less drive shafts more frequently due to industrial seals' expensive maintenance requirements and difficult installation procedures. Additionally, seals need additional motors and shafts for power transmission. On the other hand, a series of magnets surround the seal-free magnetic drive pump to help transfer the magnetic field to the shaft. Any fluid can therefore be completely confined within this arrangement. These are the main obstacles preventing the market from growing.

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Industrial Seals Market Competitive Landscape

Many businesses are putting an emphasis on organic growth strategies, including product launches, product approvals, and others like patents and events. Acquisitions and partnerships & collaborations were examples of inorganic growth strategies that were observed in the market. These actions have made it possible for market participants to grow their customer bases and business. With the growing demand for the industrial seals market, market players are anticipated to benefit from lucrative growth opportunities in the future. For instance, Trelleborg Sealing Solutions announced the opening and start of operations at its manufacturing facility in Ontario, California, in August 2021. The production facility will serve as a west coast warehouse for industrial and aerospace clients in the United States.

Industrial Seals Market Top Players Company Profiles

  • SKF AB
  • Freudenberg SE
  • Parker Hannifin Corporation
  • Trelleborg AB
  • Kaman Corporation
  • Flowserve Corporation 
  • Garlock Sealing Technologies
  • James Walker Group
  • Chesterton Company
  • John Crane Inc.
  • Timken Company
  • EagleBurgmann Germany GmbH & Co. KG
  • AESSEAL plc
  • Flexitallic Group
  • Bal Seal Engineering Inc.
  • GEA Group AG
  • Hutchinson SA
  • Sulzer Ltd.
  • Technetics Group
  • Saint-Gobain S.A.

Industrial Seals Market Recent Development

  • In 2022, Trelleborg Sealing Solutions launched Isolast® K-Fab™ Seal devised to offer long-term sealing and enhanced productivity in high-temperature semiconductor subfab applications. The solution was expected to help significantly decrease unexpected downtime and cost of ownership. Such solutions are expected to drive the global industrial seals market.
  • In October 2022,Trelleborg AB has finalised the previously announced acquisition of Lindau, Germany-based company MG Silikon GmbH from Saint-Gobain Group, the Swedish manufacturer said 31 Oct.With annual sales of around SEK 120 million (€11.5 million), MG Silikon specialises in sealing products and systems for aerospace and industrial applications.
  • In December 2021, Magnetic Seal Corporation was purchased by Ducommun Incorporated. With this acquisition, the company might be able to improve its position in the market and its ability to produce unique magnetic seals.
  • In September 2021, Hallite Seals International Ltd. opened its brand-new product and material test facility. A cutting-edge, technologically sophisticated facility will support the organization's capabilities for novel product research and development.

Industrial Seals Key Market Trends

  • Due to the sealing technology's ability to prevent leaks under conditions of extreme pressure, temperature, and shaft speed, many industries have adopted it in recent years. Customized seals are increasingly being used in a variety of industries, which is boosting market expansion. Customized elastomeric seals are widely used in the oil and gas industry due to their extensive use in exploration activities. Additionally, manufacturing firms are continuously developing sustainable and scaled offerings for their clients. Many small and medium-sized manufacturing businesses have been successful in implementing the customization process for their customers. This procedure enables manufacturers to offer elastomeric seals that are dependable, customised, adaptable, and long-lasting on the market. Additionally, an elastomeric seal's characteristics are different from those of conventional seals because it offers consumers improved services.

Industrial Seals Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.

According to our analysis, the radial seals segment is anticipated to dominate the market in terms of revenue. The oil & gas category is anticipated to have the largest market share during the projected period. North America is anticipated to rule the industrial seals market.

Report Metric Details
Market size value in 2019 USD 12.74 billion
Market size value in 2031 USD 17.54 billion
Growth Rate 4.68%
Base year 2023
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Type
    • Axial Seals, Radial Seals, Mechanical Seals
  • Industry
    • Mining, Food, Beverages, Oil, Gas, Energy, Power Generation, Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • SKF AB
  • Freudenberg SE
  • Parker Hannifin Corporation
  • Trelleborg AB
  • Kaman Corporation
  • Flowserve Corporation 
  • Garlock Sealing Technologies
  • James Walker Group
  • Chesterton Company
  • John Crane Inc.
  • Timken Company
  • EagleBurgmann Germany GmbH & Co. KG
  • AESSEAL plc
  • Flexitallic Group
  • Bal Seal Engineering Inc.
  • GEA Group AG
  • Hutchinson SA
  • Sulzer Ltd.
  • Technetics Group
  • Saint-Gobain S.A.
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Industrial Seals Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Industrial Seals Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Industrial Seals Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Industrial Seals Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Industrial Seals Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Industrial Seals Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Industrial Seals Market size was valued at USD 12.74 billion in 2019 and is poised to grow from USD 13.33 billion in 2023 to USD 17.54 billion by 2031, growing at a CAGR of 4.68% in the forecast period (2024-2031).

Many businesses are putting an emphasis on organic growth strategies, including product launches, product approvals, and others like patents and events. Acquisitions and partnerships & collaborations were examples of inorganic growth strategies that were observed in the market. These actions have made it possible for market participants to grow their customer bases and business. With the growing demand for the industrial seals market, market players are anticipated to benefit from lucrative growth opportunities in the future. For instance, Trelleborg Sealing Solutions announced the opening and start of operations at its manufacturing facility in Ontario, California, in August 2021. The production facility will serve as a west coast warehouse for industrial and aerospace clients in the United States. 'SKF AB', 'Freudenberg SE', 'Parker Hannifin Corporation', 'Trelleborg AB', 'Kaman Corporation', 'Flowserve Corporation ', 'Garlock Sealing Technologies', 'James Walker Group', 'Chesterton Company', 'John Crane Inc.', 'Timken Company', 'EagleBurgmann Germany GmbH & Co. KG', 'AESSEAL plc', 'Flexitallic Group', 'Bal Seal Engineering Inc.', 'GEA Group AG', 'Hutchinson SA', 'Sulzer Ltd.', 'Technetics Group', 'Saint-Gobain S.A.'

The demand for thermal, long-lasting, and heat-resistant seals that enable the rapid development of forces between two rotating elements is one of the driving forces behind the industrial market's steady growth. Such operations, which will result in heat-resistant seals during the forecast, depend heavily on temperature. Optimal efficiency, increased productivity, and rising manufacturing demand will all contribute to the industrial market's expansion over the course of the forecast period. Additionally, during the forecast period, a growing trend of customizable industrial seals will create new revenue opportunities.

Due to the sealing technology's ability to prevent leaks under conditions of extreme pressure, temperature, and shaft speed, many industries have adopted it in recent years. Customized seals are increasingly being used in a variety of industries, which is boosting market expansion. Customized elastomeric seals are widely used in the oil and gas industry due to their extensive use in exploration activities. Additionally, manufacturing firms are continuously developing sustainable and scaled offerings for their clients. Many small and medium-sized manufacturing businesses have been successful in implementing the customization process for their customers. This procedure enables manufacturers to offer elastomeric seals that are dependable, customised, adaptable, and long-lasting on the market. Additionally, an elastomeric seal's characteristics are different from those of conventional seals because it offers consumers improved services.

The industrial seals market is anticipated to be dominated by North America. Due to its prominence in the chemical, pharmaceutical, and oil & gas industries, the US is predicted to be the largest market in the world. During the forecast period, these segments' expansion will lead to a demand for a variety of seals. Several significant players are anticipated to increase the production of industrial seals in North America. Additionally, the expansion of mid-sized and small seal manufacturing businesses as well as growing government initiatives may promote industry development.

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Global Industrial Seals Market

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