Asia-Pacific Gaskets and Seals Market, By Type (Gaskets and Seals), Application (Heat Exchangers, Pressure Vessels, Manhole Covers, Handhole, Valve Bonnets, Pipe Flanges and Others), Distribution Channel (OEM’s and Aftermarket), Industry (Paper and Pulp Industry, Oil and Gas, Electrical, Automotive, Aerospace, Industrial Manufacturing, Marine and Rail and Others), Country (Japan, China, South Korea, India, Australia and New Zealand, Taiwan, Hong-Kong, Singapore, Thailand, Malaysia, Indonesia, Philippines and Rest of Asia-Pacific) Industry Trends and Forecast to 2028
Market Analysis and Insights: Asia-Pacific Gaskets and Seals Market
The gaskets and seals market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 6.4% in the forecast period of 2021 to 2028 and is expected to reach USD 39,503.33 million by 2028. The increasing advantages of the seals and gaskets and introduction of more electronic vehicles which will increase the demand of the gaskets and seals product will help to boost the gaskets and seals market.
Gaskets seal a connection between two components and used to fill the empty spaces between two surfaces which help to avoid leakage and wastage of fluids and gas in the application. Gaskets products are mainly used as static seals. Seals products are used between engine parts, pumps and shafts that rotate rather than those that are static. The gaskets and seals are specially designed depending on type of equipment and end-use surface.
The increasing rotating and pumping equipment in the manufacturing industry will increase the demand of the gaskets and seals products which helps to boost the gaskets and seals market. The increasing wastage of the raw material during the production of the different types of gaskets and seals products restrains the growth of gaskets and seals market in the forecast period. The increasing innovation in the technology for the checking of quality of gaskets and sealing products will be the opportunity for the gaskets and seals market. The increasing changes in the automotive engines, manufacturers face much difficulty to forecast the demand of the particular products which is the challenge for the gaskets and seals market in the forecast period.
This gaskets and seals market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the gaskets and seals market scenario contact Data Bridge Market Research for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Asia-Pacific Gaskets and Seals Market Scope and Market Size
The gaskets and seals market is segmented into four notable segments which are based on the type, application, distribution channel and industry. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the gaskets and seals market is segmented into gaskets and seals. In 2021, the seals segment is dominating the market as seals products are cost saving component in the engine which increases its demand.
- On the basis of application, the gaskets and seals market is segmented into heat exchangers, pressure vessels, manhole covers, handhole, valve bonnets, pipe flanges and others. In 2021, the heat exchangers segment is dominating as heat exchangers help to maintain the pressure of the engine which makes heat exchangers dominating in the market.
- On the basis of distribution channel, the gaskets and seals market is segmented into OEM’s and aftermarket. In 2021, the OEM’s segment is dominating the market as OEM’s are engaged in the bulk manufacturing of the gaskets and seals which makes OEM’s segment dominating in the region.
- On the basis of industry, the gaskets and seals market is segmented into paper and pulp industry, oil and gas, electrical, automotive, aerospace, industrial manufacturing, marine and rail and others. In 2021, the automotive segment is dominating the market as several types of fluid and lubricants are used in the engine which increases the demand of the seals in automotive industry.
Gaskets and Seals Market Country Level Analysis
Asia-Pacific gaskets and seals market is analysed and market size information is provided by the country, type, application, distribution channel and industry as referenced above.
The countries covered in Asia-Pacific gaskets and seals market report are Japan, China, South Korea, India, Singapore, Thailand, Indonesia, Malaysia, Philippines, Australia and New Zealand, Hong Kong, Taiwan and Rest of Asia-Pacific.
In Asia-Pacific gaskets and seals market, China is dominating the market due to high demand of automotive accessories in the country.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Growths in the Gaskets and Seals Industry
Asia-Pacific gaskets and seals market also provides you with detailed market analysis for every country growth in installed base of different kind of products for gaskets and seals market, impact of technology using life line curves and changes in gaskets and seals market regulatory scenarios and their impact on the gaskets and seals market. The data is available for historic period 2010 to 2019.
Competitive Landscape and Gaskets and Seals Market Share Analysis
The gaskets and seals market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to gaskets and seals market.
The major players covered in the report is SKF, Flowserve Corporation, John Crane (A Subsidiary of Smiths Group plc), BRUSS Sealing Systems GmbH, Trelleborg AB, ElringKlinger AG , Cooper Standard, GARLOCK FAMILY OF COMPANIES (A Subsidiary of EnPro Industries), Dätwyler Holding Inc., W. L. Gore & Associates, Inc, and IDT other domestic and global players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product developments are also initiated by the companies worldwide which are also accelerating the growth of gaskets and seals market.
For instance,
- In July 2020, John Crane company have decided to introduces new high-pressure seal gas booster designed to which are used in the dry gas seals on turbo compressors. This development helps the company to increase revenue.
Partnership, joint ventures and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for gaskets and seals through expanded range of size.
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