LONDON--(BUSINESS WIRE)--Technavio has been monitoring the gasket and seals market in the US and the market is poised to grow by USD 882.45 million during 2019-2023 at a CAGR of almost 4% during the forecast period. Request Free Sample Pages
Read the 122-page research report with TOC on "Gasket and Seals Market in the US Analysis Report by Product (Metallic gaskets and seals, and Non-metallic gasket and seals), by End-User Segments (Automotive, Industrial machinery, and Electronics), and Segment Forecasts, 2019 - 2023".
The market is driven by the increasing investments in the US shale industry. In addition, the growing renewable energy sector in the US is anticipated to further boost the growth of the gasket and seals market in the US.
Shale gas producers, especially in the US, are being encouraged to boost production due to the increase in investments by financiers. In addition, oil companies are trying to minimize risk and provide quick returns on investments by spending on short-scale shale projects. This will boost the need for oil extraction machinery to create an efficient pipeline network for transportation of the gas downstream. This in turn will lead to an increase in demand for gasket and seals in pumps, engine parts, and rotating shafts. Thus, the increasing investments in the US shale industry are expected to drive market growth during the forecast period.
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Major Five US Gasket and Seals Market Companies:
Dana is headquartered in the US and operates business under various business segments such as Light vehicle driveline, Commercial vehicle driveline, Off-highway drive and motion, and Power technologies. The company offers Gaskets such as REINZOFLON E and RGC 210.
ElringKlinger is headquartered in Germany and offers products through the following business units: Original equipment, Aftermarket, Engineered plastics, Services, and Industrial parks. The company offers specialty gaskets and cylinder head gaskets.
Flowserve is headquartered in the US and has business operation under various business segments, namely Engineered product division, Industrial product division, and Flow control division. The company offers mixer seals, pusher seals, slurry seals, and gas barrier and containment seals.
SKF is headquartered in Sweden and offers products through the following business segments: Industrial and Automotive. The company offers two-wheeler sealing solutions, industrial seals, and automotive seals.
Tenneco (Federal-Mogul) is headquartered in the US and offers products through the following business segments: Clean air and Ride performance. The company offers mechanical face seals, gasket-cold, wellhead service products, dynamic seals, and gasket-hot products.
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US Gasket and Seals Market Product Outlook (Revenue, USD Million, 2019 - 2023)
- Metallic gaskets and seals
- Non-metallic gaskets and seals
US Gasket and Seals Market End-User Outlook (Revenue, USD Million, 2019 - 2023)
- Industrial machinery
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