The Gaskets, Packing, And Sealing Devices Global Market Report 2023, provides comprehensive information on the gaskets, packing, and sealing devices market across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032
The global market for gaskets, packing, and sealing devices is poised for significant expansion, with a projected growth from .97 billion in 2022 to .89 billion in 2023, representing a substantial compound annual growth rate (CAGR) of 10.6%. However, the geopolitical turmoil resulting from the Russia-Ukraine war has cast a shadow over the global economic recovery post-COVID-19, leading to economic sanctions, surging commodity prices, and disruptions in the supply chain. These factors have contributed to inflation across various sectors. Nevertheless, the global market for gaskets, packing, and sealing devices is anticipated to achieve a size of .19 billion by 2027, underscoring a CAGR of 9.9%. This growth is indicative of the market's resilience and adaptability in a challenging global landscape.
The gaskets, packing, and sealing devices market are witnessing a significant surge in technological advancements. Leading companies in this sector are dedicated to developing novel technologies aimed at enhancing product functionality, meeting evolving customer demands, and solidifying their market presence. For example, in June 2022, Lummus Technology, a renowned US-based provider of process technologies and energy solutions, introduced the Polaris breech-lock closure, a groundbreaking high-pressure heat exchanger equipment. This innovative offering incorporates two technology upgrades, namely the ProSeal system and the ProLock closure system.
The gaskets, packing, and sealing devices market is segmented:
1) By Product: Gaskets, Seals 2) By Material Type: Metallic, Non-metallic, Elastomeric, Other Material Types 3) By Distribution Channel: Original Equipment Manufacturer (OEM), Aftermarket 4) By Application: Automotive, Electrical And Electronics, Marine And Rail, Industrial And Manufacturing, Aerospace, Oil And Gas, Chemicals and Petrochemicals, Other Application
Asia-Pacific was the largest region in the gaskets, packing, and sealing devices market in 2022
Top 5 Major Key Players Are: SKF Inc Flowserve Corporation Trelleborg AB Freudenberg Sealing Technologies GmbH & Co KG Federal-Mogul Corporation
Table Of Contents 1. Executive Summary 2. Gaskets, Packing, and Sealing Devices Market Characteristics 3. Gaskets, Packing, and Sealing Devices Market Trends And Strategies 4. Gaskets, Packing, and Sealing Devices Market - Macro Economic Scenario 5. Gaskets, Packing, and Sealing Devices Market Size And Growth ....... 26. Africa Gaskets, Packing, and Sealing Devices Market 27. Gaskets, Packing, and Sealing Devices Market Competitive Landscape And Company Profiles 28. Key Mergers And Acquisitions In The Gaskets, Packing, and Sealing Devices Market 29. Gaskets, Packing, and Sealing Devices Market Future Outlook and Potential Analysis 30. Appendix
Learn About Us: The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
Like it? Share it!
About the Author
ramacharitbrc Joined: July 1st, 2020 Articles Posted: 1,880
