DUBLIN--(BUSINESS WIRE)--The "Oil & Gas Processing Seals Market by Type (Single, Double), Material (Metal, Elastomer, Face Material), Application, and Region (Asia Pacific, Europe, North America, South America, Middle East & Africa) - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The global oil & gas processing seals market is estimated to be USD 5.7 billion in 2018 and is projected to reach USD 6.4 billion by 2023, at a CAGR of 2.5% between 2018 and 2023.
This report covers the oil & gas processing seals market on the basis of material, type, application, and region. This study aims at estimating the size and future growth potential of the oil & gas processing seals market across various segmentation types. The report also includes an in-depth competitive analysis of the key market players along with their profiles and key growth strategies.
The report provides insights into the following pointers:
- Market Penetration: Comprehensive information on oil & gas processing seals offered by the top players operating in the market
- Product Development/Innovation: Detailed insight into upcoming technologies, R&D activities, and new applications in the oil & gas processing seals market
- Market Development: Comprehensive information about the lucrative and emerging markets. The report analyzes the markets for oil & gas processing seals across different regions
- Market Diversification: Exhaustive information about untapped geographies, recent developments, and investments in the oil & gas processing seals market
- Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of leading players in the oil & gas processing seals market
Metal is estimated to account for the largest share of 51.6%, in terms of value in overall oil & gas processing seals market and is projected to register a CAGR of 2.5% during the forecast period. Single seal is the fastest-growing type of oil & gas processing seals, estimated to account for a share of 53.1%, in terms of value, of the overall market in 2018. The market in this segment is projected to register a CAGR of 2.1% during the forecast period. Downstream is projected to be the fastest growing application of oil & gas processing seals registering a CAGR of 2.5%, in terms of value, during the forecast period.
Growing demand from oil & gas and chemicals & petrochemicals industry in the Asia-Pacific and in emerging economies is likely to boost the oil & gas processing seals market. The major driver of the oil & gas processing seals market is increased efficiency in oil production offshore, furthermore increase in oil production is also expected to drive the consumption of oil & gas processing seals. The major restraining factor in the oil & gas processing seals market is gland packaging and seal-less pumps. Industry players followed strategies such as expansions, new product developments, and contracts to address the demand generated by end-use industries and to increase their global footprint.
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Oil & Gas Processing Seals Market
4.2 Oil & Gas Processing Seals Market, By Region
4.3 Oil & Gas Processing Seals Market, By Type & Region
4.4 Oil & Gas Processing Seals Market, By Application
4.5 Oil & Gas Processing Seals Market, By Type
4.6 Oil & Gas Processing Seals Market: Major Countries
5 Market Overview
5.2 Market Dynamics
184.108.40.206 Increased Efficiency in Offshore Oil Recovery
220.127.116.11 Increasing Crude Oil Production
18.104.22.168 Gland Packaging and Seal-Less Pumps
22.214.171.124 Growth in the Renewable Energy Sector
126.96.36.199 Low Oil & Gas Prices
188.8.131.52 Discovery of New Oilfields
184.108.40.206 Specific Requirements From End-Use Industries
5.3 Porter's Five Forces Analysis
5.4 Macroeconomic Overview
5.4.1 Manufacturing Industry Trends and Forecast, By Country
5.5 Oil & Gas Wells, By Region (2016)
5.6 Crude Oil Throughput By Region, 2016 (In 1000 BPD)
5.6.1 Oil & Gas Industry Trends, By Region and Country
6 Oil & Gas Processing Seals Market, By Material
6.4 Seal Face Material
7 Oil & Gas Processing Seals Market, By Type
7.2 Single Seal
7.3 Double Seal
8 Oil & Gas Processing Seals Market, By Application
9 Oil & Gas Processing Seals Market, By Region
9.2 North America
9.3 Middle East & Africa
9.6 South America
10 Competitive Landscape
10.2 Market Ranking of Key Players
10.3 Competitive Scenario
11 Company Profiles
11.1 Freudenberg Group
11.2 John Crane
11.3 Flowserve Corporation
11.4 Parker Hannifin Corp.
11.6 Trelleborg AB
11.8 Precision Polymer Engineering
11.9 Techno Ad Ltd.
11.10 M.Barnwell Services Limited
11.11 Precision Associates Inc.
11.12 FTL Technology
11.13 Aesseal PLC
11.14 Technetics Group
11.15 Performance Sealing Inc.
11.16 Ceetak Ltd.
11.17 American High-Performance Seals
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