Top Trends in Global Mechanical Seals Market to become The Best Performer in 20Posted by Loise Williams on August 14th, 2019 The global mechanical seals market is expected to grow at a CAGR of close to 5% during the period 2018-2022, according to a new market research study by Technavio. The report categorizes the global mechanical seals market based on the end-user segments such as oil and gas, GI, C&P, WWI, power, and others. The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA. Market driver: demand from the oil and gas industry Mechanical seals are extensively used as sealing solutions for rotating equipment in the oil and gas industry. Pumps, agitators, expansion joints, and other rotating equipment are widely used in the oil and gas industry and this equipment requires mechanical seals for protection against external contamination and leakage. For instance, mechanical seals are required for crude oil pumps, lubricant pumps, and process pumps in the oil and gas industry. Download the Free Sample Report @ http://bit.ly/2YTDrVf Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more. Market trend: advances in dry gas seal technology for compressors Centrifugal process gas compressors and rotary compressors need sealing materials between the pressurized gas-containing volume and the bearing assemblies that support the compressor rotor. A wide variety of seal types are available in the market for decades and mechanical seals are one among them. In most of these seals used in compressors, lubricating oil serves as the fluid which separates rotating from stationary sealing elements. Wet seals include an oil reservoir, filters, valves, coolers, two or more oil pumps and control instrumentation, which are required for the seal oil system. According to a senior analyst at Technavio for tools and components research, “The dry gas seal is an emerging substitute for wet seals and it has been gaining prominence in the compressors market over the past few years. Dry gas seals are now becoming an integral part of the modern centrifugal compressors owing to their advantages such as low power consumption, no wear and improved operational safety.” Market challenge: fluctuating oil and gas prices The crude oil prices play a critical role in shaping the oil and gas industry. For the drilling and production of crude to be commercially viable, the crude oil prices need to be sufficiently high from a financial standpoint so that the firms can sustain in the market. The recent reduction in the revenues had a major impact on the pure upstream companies while the integrated oil companies that had operations in both upstream and downstream sectors were able to absorb some of the financial pressure as revenue was still being generated from the downstream segment. Technavio helps businesses anticipate changes in their marketplace, make proactive adjustments, and develop effective strategies to optimize their market positions. Some of the major contributors in the global mechanical seals market:
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