Gaskets Market is Forecast to Reach USD 10.8 billion in 2027, Says Stratview Research

The Gaskets market is likely to grow at a CAGR of 3.9% during 2022-2027, to reach US$ 10.8 billion in 2027, states Stratview Research.

DETROIT, March 28, 2023 /PRNewswire/ -- Stratview Research, a global market research firm has launched a report on the Global Gaskets Market which provides a comprehensive analysis of the global and regional industry forecast, current & emerging trends, segment analysis, and competitive landscape.

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Report Highlights

Segment Insights on Gaskets Market

The global Gaskets market is segmented based on end-use industry type, and region.

Based on end-use industry type - Transportation is expected to remain the largest segment, whereas electrical & electronics is expected to be the fastest-growing segment of the market during the forecast period. 

• There is a considerable demand for seals in the transportation sector due to the increasing production of automobiles, growing aircraft fleet, and rising demand for mobility.
• Because of the significant rise in the demand for advanced gadgets and consumer electronics, electrical & electronics is expected to be the fastest-growing segment over the forecast period.

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Which Region Offers the Best Opportunity and Growth?

The report suggests that Asia Pacific is expected to remain the largest market for Gaskets during the forecast period. This growth is majorly attributed to the following –

• Various factors such as the fast recovery of the economy, growing population, and increasing business investments are some of the factors driving the market in Asia-Pacific.
• Most gasket suppliers have their presence in the region to address the emergent needs of various end-use sectors.
• The region's dominance is also led by massive construction, mining, food & beverage, and pharmaceutical industries.

Gaskets Market Drivers

Some of the key drivers listed in the report are given below.

• Increasing demand from various end-use industries. As these industries continue to expand, the demand for gaskets also grows, driving the market forward.
• Gaskets play an important role in sealing systems and preventing energy loss. As a result, there is a growing demand for energy-efficient applications.
• Advancements in technology have led to the development of new materials, that offer superior performance and durability. These new materials are expanding the range of applications where it can be used.

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Top 10 Companies in Gaskets Market?

The market is fairly consolidated with the presence of some global and regional players. Stratview Research has identified the following companies as the top market players.

• ElringKlinger AG
• Dana Incorporation
• EnPro Industries
• Flowserve Corporation
• Freudenberg Group
• James Walker & Co.
• Parker-Hannifin Corporation
• Tenneco (Federal-Mogul)
• Trelleborg AB
• Uchiyama Group

What Deliverables will You Get in this Report?

Related reports which might be useful:

• Aircraft Gaskets Market
• Automotive Gaskets Market

About us –

Stratview Research is a global market research firm that highly specialises in chemicals & materials, transportation, aerospace & defense,  and few other industries.

It launches limited number of reports annually on the above-mentioned specialisations. The reliability and insightfulness of the reports enable the readers take convincing business decisions.

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SOURCE Stratview Research