COVID-19 Impacts: Mechanical Seals Market Will Accelerate at a CAGR of Over 5% Through 2020-2024 | Rising Adoption of Renewable Energy to Boost Growth | Technavio

·6-min read

Technavio has been monitoring the mechanical seals market and it is poised to grow by USD 1.12 billion during 2020-2024, progressing at a CAGR of over 5% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. Download a Free Sample Report on COVID-19

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Technavio has announced its latest market research report titled Global Mechanical Seals Market 2020-2024 (Graphic: Business Wire)

Impact of COVID-19

The COVID-19 pandemic continues to transform the growth of various industries. However, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have At Par impact on the mechanical seals market. The market growth in 2020 is likely to Increase compared to the market growth in 2019.

Frequently Asked Questions-

  • What are the major trends in the market?

  • Emergence of additive manufacturing is one of the major trends in the market.

  • At what rate is the market projected to grow?

  • Growing at a CAGR of over 5%, the incremental growth of the market is anticipated to be USD 1.12 billion.

  • Who are the top players in the market?

  • A.W. Chesterton Co., AESSEAL Plc, EnPro Industries Inc., Flex-A-Seal Inc., Flowserve Corp., Freudenberg Sealing Technologies GmbH & Co. KG, Leak-Pack Engineering (I) Pvt. Ltd., Meccanotecnica Umbra Spa, Smiths Group Plc, and YALAN Seals Ltd. are some of the major market participants.

  • What are the key market drivers?

  • Rising adoption of renewable energy is one of the major factors driving the market.

  • How big is the APAC market?

  • The APAC region will contribute 41% of market growth.

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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. A.W. Chesterton Co., AESSEAL Plc, EnPro Industries Inc., Flex-A-Seal Inc., Flowserve Corp., Freudenberg Sealing Technologies GmbH & Co. KG, Leak-Pack Engineering (I) Pvt. Ltd., Meccanotecnica Umbra Spa, Smiths Group Plc, and YALAN Seals Ltd. are some of the major market participants. The rising adoption of renewable energy will offer immense growth opportunities. In a bid to help players strengthen their market foothold, this mechanical seals market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.

Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

Mechanical Seals Market 2020-2024: Segmentation

Mechanical Seals Market is segmented as below:

  • End-user

    • Oil and Gas

    • General Industries

    • Chemicals and Pharmaceuticals

    • Water and Wastewater Treatment

    • Power

    • Other Industries

  • Geography

    • APAC

    • North America

    • Europe

    • MEA

    • South America

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR41125

Mechanical Seals Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The mechanical seals market report covers the following areas:

  • Mechanical Seals Market Size

  • Mechanical Seals Market Trends

  • Mechanical Seals Market Analysis

This study identifies emergence of additive manufacturing as one of the prime reasons driving the mechanical seals market growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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Mechanical Seals Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024

  • Detailed information on factors that will assist mechanical seals market growth during the next five years

  • Estimation of the mechanical seals market size and its contribution to the parent market

  • Predictions on upcoming trends and changes in consumer behavior

  • The growth of the mechanical seals market

  • Analysis of the market’s competitive landscape and detailed information on vendors

  • Comprehensive details of factors that will challenge the growth of mechanical seals market vendors

Table of Contents:

PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

PART 03: MARKET LANDSCAPE

  • Market ecosystem

  • Market characteristics

  • Market segmentation analysis

  • Value chain analysis

PART 04: MARKET SIZING

  • Market definition

  • Market sizing 2019

  • Market outlook

  • Market size and forecast 2019-2024

PART 05: FIVE FORCES ANALYSIS

  • Bargaining power of buyers

  • Bargaining power of suppliers

  • Threat of new entrants

  • Threat of substitutes

  • Threat of rivalry

  • Market condition

PART 06: MARKET SEGMENTATION BY END-USER

  • Market segmentation by end-user

  • Comparison by end-user

  • Oil and gas - Market size and forecast 2019-2024

  • General industries - Market size and forecast 2019-2024

  • Chemicals and pharmaceuticals - Market size and forecast 2019-2024

  • Water and wastewater treatment - Market size and forecast 2019-2024

  • Power - Market size and forecast 2019-2024

  • Other industries - Market size and forecast 2019-2024

  • Market opportunity by end-user

PART 07: CUSTOMER LANDSCAPE

PART 08: GEOGRAPHIC LANDSCAPE

  • Geographic segmentation

  • Geographic comparison

  • APAC - Market size and forecast 2019-2024

  • North America - Market size and forecast 2019-2024

  • Europe - Market size and forecast 2019-2024

  • MEA - Market size and forecast 2019-2024

  • South America - Market size and forecast 2019-2024

  • Key leading countries

  • Market opportunity

PART 09: DECISION FRAMEWORK

PART 10: DRIVERS AND CHALLENGES

  • Market drivers

  • Market challenges

PART 11: MARKET TRENDS

  • Emergence of additive manufacturing

  • Increasing popularity of IoT for mechanical seals

  • Advances in material science in mechanical seals

PART 12: VENDOR LANDSCAPE

  • Overview

  • Landscape disruption

  • Competitive scenario

PART 13: VENDOR ANALYSIS

  • Vendors covered

  • Vendor classification

  • Market positioning of vendors

  • A.W. Chesterton Co.

  • AESSEAL Plc

  • EnPro Industries Inc.

  • Flex-A-Seal Inc.

  • Flowserve Corp.

  • Freudenberg Sealing Technologies GmbH & Co. KG

  • Leak-Pack Engineering (I) Pvt. Ltd.

  • Meccanotecnica Umbra Spa

  • Smiths Group Plc

  • YALAN Seals Ltd.

PART 14: APPENDIX

  • Research methodology

  • List of abbreviations

  • Definition of market positioning of vendors

PART 15: EXPLORE TECHNAVIO

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View source version on businesswire.com: https://www.businesswire.com/news/home/20201026005457/en/

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