Global mechanical seals market to grow at a CAGR of 9.5% during the period 2017-2021.
Global Mechanical Seals Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
According to the report, one driver in market is high demand in water and wastewater industry. Wastewater treatment plants are gradually gaining importance as an important end-user industry for mechanical seals, apart from the oil and gas and manufacturing sectors. These sectors require mechanical seals for sealing agitators and pumps. Therefore, an increase in the number of such plants is expected to fuel the demand for mechanical seals globally.
The global water and wastewater equipment market generated revenue of $39.25 billion in 2015, and we expect the market to grow at a CAGR of 9.26% during 2015-2020. The reason for such growth is the growing population, increased manufacturing activities, and increase in oil and gas production.
- Adherence to emission regulations
- Rising demand from oil and gas industry in the Middle East and China
- High demand in water and wastewater industry
- Growing demand for high-quality mechanical seals
- Unpredictable oil and gas prices
- Leaks that require shut down
- Challenges in manufacturing, designing, and installing mechanical seals
- Emergence of renewable and nuclear energy sources
- Rise in demand for mechanical seals from pharmaceutical sector
- Use of superior quality raw materials
- Advances in assemblies, testing systems, monitoring systems, and technology of mechanical seals
- John Crane
Other prominent vendors
- Bal Seal Engineering
- Garlock Sealing Technology
- Hutchinson Sealing Systems
For more information about this report visit http://www.researchandmarkets.com/research/h4rwj6/global_mechanical