The new report by Expert Market Research titled, ‘Global Axial and Radial Seals Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global axial and radial seals market, assessing the market based on its segments such as raw materials , types, styles, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
- Forecast CAGR (2022-2027): 6%
Axial and radial seals are employed in a variety of industries, including transportation, aerospace, defence, petrochemicals, and electrical and electronics. The axial and radial seal market is predicted to grow in popularity among industries due to its numerous benefits and wide application. The axial and radial seal market is primarily driven by rising demand in the industrial process as a result of product and machine damage, wear, and tear during manufacturing, transportation, and use. Many new applications are springing into the market every day, which requires axial and radial seals because of their properties such as shape resistance, heat and cold resistant, moisture resistant, provide high tensile strength and many more.
Industry Definition and Major Segments
The Axial and Radial Seal is a ground-breaking device that improved the safety of equipment and other products. When there is no motion between the malting surfaces, static seals such as axial and radial seals are used. The radial seal is recyclable and reusable, which gives it a competitive advantage over other seal types. Axial seals, on the other hand, are similar to gaskets in that they are squeezed on both the top and bottom of the O-cross ring’s section.
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Based on raw material, the market is segmented into:
- Polyurethane (PU)
- Polytetrafluoroethylene (PTFE)
By type, the market is classified into:
- Axial Seals
- Track Pin Seals
- Axial Clamp Seal
- V ring Seals
- Metal Face Seal
- Radial Seals
By style, the market is divided into:
- Mechanical Seal
The best applications of the market are:
- Aerospace and Defense
On the basis of region, the market is segmented into:
- North America
- Latin America
- Middle East and Africa
The primary factor that fuels the growth of the global axial and radial seal market is the affordable price of axial and radial seal because of cheap production cost and advanced technology. The axial and radial seal market is expected to grow during the forecast period due to its versatile benefits. The continuous increase in the investments by various companies to increase production capacity is driving the market growth. The Asia Pacific region is the hotspot for the majority of key players owing to the increased manufacturing activities in countries, such as India, China, and Korea. Also, the companies are shifting their manufacturing facilities to developing economies to expect less volatility in the coming years, thereby propelling the market growth.
Key Market Players
The major players in the market are Carl Hirschmann, Inc., AB SKF, Morgan Advanced Materials, Freudenberg FST GmbH, Jetseal, Inc., and Fematics Canada, Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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