Global Hydraulic Seals Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Hydraulic Seals Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Mechanical seals are devices that provide a seal at the point of entry or exit of a rotating shaft. Typically, it is used to prevent the leakage of one high-pressure fluid into a lower-pressure fluid. The key utility of a mechanical seal is to prevent leakage of fluids or gases through the clearance between the shaft and the container. Mechanical seals consist of a set of 2 faces separated by carbon rings. The first face is in contact with the rotating equipment whereas the second face is stationary. Moreover, the main part of the seal is the seal ring (first face) on which the mechanical force is acting, generated by springs, bellows, or fluids in the equipment.

Market Overview:

The latest research study on the global Hydraulic Seals market finds that the global Hydraulic Seals market reached a value of USD 4245.78 million in 2022. It’s expected that the market will achieve USD 5700.37 million by 2028, exhibiting a CAGR of 5.03% during the forecast period.

The COVID-19 virus has had a severe effect on Mechanical Seals Market. India, the US, China, and Japan have been hit hard by the epidemic, which is playing a key role in the production of the. The COVID-19 virus has closed the manufacturing of mechanical seals due to the lockdown worldwide. This has hampered the growth of the Mechanical Seals market. Industrial Seals companies rely heavily on the supply of raw materials, components, and materials from different countries around the world. With so many governments limiting exports, manufacturers had to stop production due to a shortage of raw materials.

Rising manufacturing industry to boost market growth

The rising adoption of mechanical seals across the industrial spectrum will primarily drive the growth of this market in the given time period. The fundamental function of a mechanical seal is to seal or fill the gap between a stuffing box and a rotary shaft, thereby preventing any leakage of gases or liquids in rotating shaft systems.

Challenges associated with manufacturing, design, and material construction

Challenges associated with manufacturing, design, and material construction are expected to hinder the global gasket and seals market during the forecast period. Improvisation of machine design due to the increasing need for compact, efficient, and high-performance processes has resulted in the requirement of highly customized mechanical seals.

Technology development

Mechanical Seals market growth is likely to be influenced positively by the development of strong sealing technology for enhanced performance in subsea oil finds. Furthermore, the advancement of RFID technology for seals allows for more durable and efficient seal maintenance, boosting the seals' long-term worth.

Region Overview:

In 2021, the share of the Hydraulic Seals market in Asia Pacific stood at 37.59%

Company Overview:

Flowserve
Flowserve was founded more than 200 years ago, and now it has more than 15,000 employees and more than 300 branches all over the world, including more than 180 rapid response centers, providing after-sales parts and services to customers. Flowserve provides more than 100 pump models and a series of valves and sealing products.

SKF

SKF develops, produces, and markets products, solutions, and services in the rolling bearing and seal business. The Company's product line includes ball and roller bearings, specialty bearings, sealing systems, linear motion products, tools for mounting and dismounting bearings, and measuring and monitoring instruments.

Flowserve is one of the major players operating in the Hydraulic Seals market, holding a share of 13.11% in 2022.

Segmentation Overview:

Compressor mechanical seals used on toxic and/or flammable gases, or when the process is contaminated with particles. The seal supply gas is maintained at a pressure higher than the pressure of the gas being sealed, which isolates the process gas from the atmosphere.

Pump mechanical seals are machine element, which are used to join systems or mechanisms together for preventing leakage. Pump mechanical seals are the seals that are specially designed for pump which are used to seal the passage point between the rotating part of the shaft and the stationary part of the pump housing.

Reactor mechanical seals are specifically designed for Mixer, Agitator and Reactor applications, to combat the inevitably radial and / or axial shaft movement that occurs in these applications. Reactor seals are designed to operate in high temperature and high-pressure conditions. They are used to prevent leakages of gas, liquids to environment.

Among different product types, Hydraulic Rod Seals segment is anticipated to contribute the largest market share in 2027.

Application Overview:

Mechanical seals are an essential part of many machines and processes in the oil and gas industry. Without them, it would be difficult to prevent the leakage of fluids or gases. By using different types of mechanical seals, engineers can tailor the seal to the specific needs of the application. Oil and gas have the highest growing segment of the market attributed to the increasing use of mechanical seals in the oil and gas industry to decrease fluid losses, leisure time, seals, and general maintenance as compared to other End User Industries.

Mechanical seals are utilized in a variety of applications such as pumps, mixers, aerators, and other equipment in power plants ranging from coal and natural gas to nuclear, hydroelectric, and geothermal energy. The electricity industry is used because its ability to satisfy performance goals depends on various factors, such as equipment design, operating conditions, and support systems. The power plant industry demands sealing systems with optimum operating reliability, ease of maintenance, low leakage rates, and appropriate environmental protection measures. Mechanical seal solutions and services improve power plant manufacturing performance by increasing operational dependability, improving equipment uptime, reducing seal water usage and energy consumption, and ensuring cost-effective environmental compliance.

In the Chemicals industry, the transportation of hazardous chemicals such as corrosive media and grinding fluid at extreme temperatures is a small part of the extensive difficulties involved in chemical processing applications. Therefore, when it is necessary to contain, transfer or isolate gas or fluid, strict sealing equipment is required, which also requires the use of chemical corrosion-resistant and elastic mechanical seals in the Chemicals industry.

By application, the Electricity segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Hydraulic Seals market covered in Chapter 3:

MAXX Hydraulics
Chesterton
Parker Hannifin
Max Spare
Hallite
Greene Tweed
Dingzing
Hutchinson
SealTeam
SKF
NOK
Kastas Sealing Technologies
Freudenberg Sealing Technologies
James Walker
Trelleborg Group

In Chapter 4 and Chapter 14.2, on the basis of types, the Hydraulic Seals market from 2018 to 2029 is primarily split into:

Hydraulic Wipers
Hydraulic Piston Seals
Hydraulic Rod Seals
Hydraulic Buffer Seals
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Hydraulic Seals market from 2018 to 2029 covers:

Marine Industry
Heavy Industry
Automotive Industry
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)