The global mechanical seals market is anticipated to grow at a steady rate and will post a CAGR of more than 9% during the forecast period. The increasing demand for mechanical seals from water and wastewater industry will drive the growth prospects for the global mechanical seals market in the forthcoming years. One of the major applications of mechanical seals in wastewater treatment plants is the sealing of agitators and pumps. In addition, it has been noted that the demand for water is increasing with the growing manufacturing sectors such as food and beverages, pharmaceutical, and pulp and paper. As a result, governments of most developed and developing countries are increasingly focusing on establishing new water treatment plants, replacement of old water treatment plants, and initiating stringent environmental regulations and water conservation norms.
The rising demand for mechanical seals from the pharmaceutical sector will drive the growth prospects for the global mechanical seals market for the next four years. Some of the major applications of mechanical seals in the pharmaceutical sector include sealing of pumps, compressors, and industrial agitators, which are used to unload, mix, transfer, and process liquids. These pumps handle liquid substances ranging from light viscous, clean, and corrosive fluids to abrasive medium viscous fluids. Also, with the growing world population and health problems such as heart disease, diabetes, and cancer, the demand for pharma products will also increase.
Competitive landscape and key vendors
The global mechanical seals market is highly competitive and diversified due to the presence of a large number of regional, local vendors and international vendors across the globe. Many of these local vendors manufacture and provide customized mechanical seals to their customers at lower prices in comparison to their international counterparts. However, they find it tough to compete against their competitors in terms of quality, features, functionalities, and services.
Key vendors in this market are:
* John Crane
Other prominent vendors in the market include Bal Seal Engineering, Cooper-Standard, Garlock Sealing Technology, Hutchinson Sealing Systems, Timken, Trelleborg, and SKF.
Segmentation by end-users and analysis of the mechanical seals market
* Oil and gas
* General industry
* Chemical industry
* Water and wastewater industry
* Power industry
The oil and gas industry accounted for the maximum market share during 2016 and will continue to dominate the market for the next few years. Some of the major factors responsible for the growing demand for mechanical seals include maintenance of zero emission control on services involving hazardous air pollutants and withstanding specialized applications such as polymerizing fluids, refinery bottoms, and flammable gases.
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