Facts & Factors delivers in-depth insights on the report titled, “Global Mechanical Face Seals Market Size, Trends, Analysis, Growth, and Forecast: 2020 to 2026”. The global Mechanical Face Seals market size was valued at USD 3180 million in 2019 and is estimated to reach USD 3890 million by 2026 to register a CAGR of 6.5% in terms of value during the forecast period 2020–2026. The report offers in-depth insights, revenue details, and other crucial information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2026.
Market Overview:
Mechanical face seals are designed for rotating applications in harsh environments. They are also known as floating seals, heavy-duty seals, lifetime seals, toric seals, and duo cone seals. These are a subset of mechanical seals that provide minimal leakage of the sealed fluid. In mechanical face seals, one of the sealing faces is typically ceramic or metal, while the other is typically plastic or graphite. Two faces make contact in a narrow ring-shaped sealing area.
Market Drivers:
The oil & gas sector and infrastructure activities across developed, developing, and emerging economies are growing at a healthy pace. This is expected to increase demand for mechanical face seals in the oil & gas sector for the years to come. The increasing adoption of tunnel boring machines for infrastructural activity and the oil & gas sector has significantly increased the market. Oil & gas sector development is expected to further support the global mechanical face seals market.
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The agricultural, infrastructure and mining industries significantly contribute to a nation’s economy. For instance, mining companies in Australia paid around USD 204 billion in 2016-2017 in taxes and royalties, hospitals, and funding schools and infrastructures across the region.Government construction and commercial initiatives go a long way in making a country self-sufficient and competitive in terms of export and trade. Population growth in emerging economies has led to mass migration, exerting an enormous strain on the existing urban infrastructure. To deal with this, center and state governments have started providing soft loans to spur investment and FDI in the respective country’s construction and industrial sectors.
Segmental Overview:
The floating sealcategory in product type segmentation dominated the market in 2019and is anticipated to continue its dominance in the upcoming years. The growth of the floating sealcategory can be attributed to its increasing adoption in industrial sectors. The tunnel boring machinescategory in the application segmentation dominated the market in 2019 with a market share of around 27% and is expected to continue its dominance in the forecast period. The growth of the tunnel boring machines category can be attributed to the growing adoption of mechanical face seals in the construction industry and infrastructure projects.
Regional Overview:
With a market share of more than 50% in 2019, the Asia Pacific region dominated the mechanical face seals market in 2019 and is expected to maintain its dominance in the coming years. The dominance of Asia Pacific in the mechanical face seals market can be attributed to the rapidly growing manufacturing sector in developing countries such as China and India. Furthermore, various government initiatives as well as favourable regulations and regulatory frameworks supporting the region’s manufacturing sector are expected to drive the market even further in the coming years.
In 2019, Europe’s market surpassed that of Asia Pacific, with a significant share. The rapidly growing mechanical face seals market in Europe can be attributed to the region’s expanding chemical industry, as well as the increasing use of mechanical face seals in the mining, marine, and aerospace industries. Spain and Italy are expected to grow faster than the rest of the region during the forecast period, owing to increased demand from the food and beverage and oil and gas industries.
Competitive Landscape:
Some of the key players in the mechanical face seals market are SAP Parts, ROC Carbon Company, Caterpillar, Enduro Bearings Industrial, Trelleborg Group, Morcor Limited, Trostel, FTL Technology, SKF, and Goetze among others.
This report segments the mechanical face seals market as follows:
By Product Type Segmentation Analysis
- Lifetime
- Floating
- Duo Cone
- Toric
- Heavy Duty
By Application Segmentation Analysis
- Tracked Vehicles(Excavators and Bulldozers)
- Conveyor Systems
- Heavy Trucks
- Axles
- Tunnel Boring Machines
- Agriculture Machines
- Mining Machines
- Others
By Sales Channel Segmentation Analysis
- Direct
- Indirect
Regional Segmentation Analysis
- North America
- U.S.
- Canada
- Europe
- Germany
- The UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of the Middle East & Africa
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