This report analyses the global gasket and seal market in terms of product type, end-use application, and geography. Based on product type, the global gasket and seal market is segmented into gasket (metallic gasket and non-metallic gasket) and seal (body seal, shaft seal, and molded seal). Similarly, on the basis of end-use application, the market for gaskets and seals is further classified into industrial manufacturing, automotive, electrical and electronics, aerospace, marine and rail equipment, and energy, among others. The geographical distribution of the global gasket and seals market considered in this study encompasses regional markets such as North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.
Gaskets and seals are mechanical components primarily used to fill the empty spaces between two or more mating surfaces in order to prevent leakage of gases and fluids. They are also employed to help manufacturers maintain the desired pressure in components and avoid the entry of foreign particles into the assembly. The global market for gaskets and seals is relatively mature and is expected to witness steady gains during the forecast period of 2016–2023. The growth is expected to be spurred by steady growth in motor vehicle production, compliance with stringent standards and regulations, and a resurgence in the industrial manufacturing sector after the bleak market conditions prevalent during the economic crisis. These factors are expected to contribute to a CAGR of 5.1% during the forecast period of 2016–2023.
1.1 Report Description
Purpose of the Report
The purpose of this strategic research study titled "Gasket and Seals Market: Growth, Share, Opportunities, and Competitive Analysis, 2016–2023" is to offer industry investors, company executives, and industry participants in-depth insights to enable them to make informed strategic decisions related to the opportunities in the gasket and seals market.
1.1.1 Target Audience
Industry Investors
Gasket and Seal Manufacturers
Original Equipment Manufacturers
Other component manufacturers
Distributors, Retailers, and End-Users
On the basis of end-use application, the global gasket and seals market is classified into the following segments:
Industrial Manufacturing
Automotive
Electrical and Electronics
Construction
Aerospace
Others (Energy, Marine & Rail Equipment, etc.)
As of 2015, the automotive end-use segment led the global gaskets and seals market in terms of revenue share. The segment accounted for over one-third of the global market revenue share in the same year. The trend will prolong, and the segment is poised to retain its dominant position throughout the forecast period. Strong growth in motor vehicle production, especially in economies including India, China, and Mexico, is driving demand for gaskets and seals in the automotive segment. In addition, compliance with strict emission standards such as the NEDC (New European Driving Cycle) and CAFÉ (Corporate Average Fuel Economy) is expected to support demand for gaskets and seals in automotive systems. On the other hand, the use of gaskets and seals in the electrical and electronics segment is expected to exhibit maximum growth. Most of this segment's growth can be attributed to more electronic and electrical equipment being made.
On the basis of geography, the global gasket and seals market is segmented into the following regions and countries:
North America
U.S.
Canada
Europe
UK
Germany
France
Rest of Europe
Asia Pacific
Japan
China
India
Rest of Asia Pacific
Rest of the World
Latin America
Middle East
Africa
As of 2015, Asia Pacific dominated the global gasket and seals market in terms of both revenue and volume. The resurgence in the industrial sector, coupled with a steady rise in automotive production, especially in economies like China and India, bodes well for overall market growth in the region. China is the leading producer and exporter of gaskets and seals worldwide and is presumed to register strong gains in the coming years. In addition, growth in the construction and infrastructure sectors is also expected to fuel demand for gaskets and seals in the region. On the other hand, the gasket and seals market in North America and Europe is slowly recovering from the bleak market conditions prevalent during the economic recession.
Frequently Asked Question:
The market for Gasket and Seals Market is expected to reach USD$ XX in 2023.
The Gasket and Seals Market is expected to see significant CAGR growth over the coming years, at 5.1%.
The report is forecasted from 2016 -2023.
The base year of this report is 2015.
Dana Holding Corporation, ElringKlinger AG, Federal-Mogul Corporation, SKF Group, Boyd Corporation, Parker Hannifin Corporation, James Walker. are some of the major players in the global market.
