Global $71 Billion Gaskets & Seals Market Forecast, 2023 - Increase in Fixed Investment Spending, Expanding Durable Goods Output in Developing Countries

DUBLIN, Jan. 27, 2020 /PRNewswire/ -- The "Global Gaskets & Seals Market Forecasts to 2023" report has been added to ResearchAndMarkets.com's offering.

Global demand for gaskets and seals is projected to climb 3.3% per year through 2023 to $71 billion, primarily supported by an increase in fixed investment spending and expanding durable goods output in developing countries.

This study analyzes the global market for gaskets and seals.

The specific products covered are:

• Gaskets:
• Metallic, including those made from aluminum, brass, bronze, copper, nickel, stainless steel, steel, and titanium
• Nonmetallic types, including elastomeric, fiber-based, plastic-based, expanded graphite, cork (which includes cork/rubber composite materials for the purposes of this study), leather, mica, and ceramics
• Molded seals and packings, including O-rings, flexible seals, and diaphragm seals
• Body seals, including those used in motor vehicles, machinery, and aerospace and other transportation equipment
• Shaft seals, including rotary oil seals and mechanical seals
• Compression packings
• Non-motor vehicle body seals

Gaskets and seals are primarily used as components of durable equipment.

The market segments broken out in this study are:

• Motor vehicles, including light, medium, and heavy vehicles (e.g., passenger cars, trucks, and busses)
• Machinery, including construction and related equipment; general-purpose machinery; engines, turbines, and power transmission equipment; heating, ventilation, air conditioning (HVAC), refrigeration, and service equipment; metalworking and industrial machinery
• Electrical and electronic products, including:
• Measuring and controlling equipment such as educational, medical, and scientific instruments; industrial controls; and navigation instruments for transportation equipment; air and noise monitoring equipment; leak detection and control instruments; process monitoring; and temperature and pressure gauges (including separately sold aerospace types)
• Electrical equipment, which is classified as electrical transmission and distribution equipment, electrical industrial apparatus, lighting and wiring equipment, and miscellaneous electrical goods such as batteries and fuel cells. Gaskets and seals used in turbines and power generating equipment are included with engines, turbines, and power transmission equipment.
• Computers and electronic equipment such as copy and facsimile machines, audio and visual equipment, and other consumer and communications electronic products as well as electronic components such as semiconductors, electronic capacitors and resistors, electronic coils, transformers, electronic connectors, bare printed circuit boards, and printed circuit assemblies (electronic assemblies)
• Appliances, which includes both major (e.g., dishwashers, ovens, refrigerators, washing machines) and small types and. gaskets and shaft seals utilized in appliance motors
• Other markets, including aerospace equipment (military and commercial aircraft, as well as space vehicles); marine and rail equipment; domestic hot water boilers; heat exchangers; plumbing fixtures and fittings; sprinkler systems; steam condensers; transportation equipment such as ATVs, golf carts, motorcycles, tanks, and travel trailers; and windows and doors

Historical data (2008, 2013, and 2018) and forecasts (2023) are provided in current dollars for the market as a whole and for all products and markets listed above.

Key geographic trends through 2023:

• China alone is expected to account for 42% of additional demand through 2023. Multinationals will continue to invest heavily in China's manufacturing industries, greatly increasing the nation's gasket and seal demand, especially for high-end products.
• Gasket and seal demand in Western Europe and North America will be supported by the increasing use of high-quality sealing products. In order to develop the next generation of durable goods, manufacturers in the region will invest in equipment that offers increased control and precision.
  

Key market trends through 2023:

• Over two-thirds of all gaskets and seals are utilized in motor vehicles and machinery. Thus, the performance of these two industries is of vital importance to gasket and seal manufacturers.
• Global motor vehicle gasket demand is forecast to increase only modestly due to a deceleration in motor vehicle production.
• Global machinery manufacturing will continue to experience strong output increases that will support gasket and seal demand in this market.
• The electrical and electronic equipment market will be the fastest growing. Strong production gains, and the need for high-quality sealing products because of the difficulty of repairing many products included in this market, will boost value gains.

Key Topics Covered

1. Market Brief
2. Global Market Overview
3. North America
4. Central & South America
5. Western Europe
6. Eastern Europe
7. Asia/Pacific
8. Africa/Mideast
9. Industry Structure
10. Appendix

Companies Mentioned

• Cooper-Standard
• ElringKlinger
• Freudenberg
• Gosei
• Henniges
• Hutchinson
• John Crane
• Parker-Hannifin
• SKF
• Tenneco
• Toyoda
• Trelleborg

For more information about this report visit https://www.researchandmarkets.com/r/8t24jp

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