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The machined seals market size is estimated to grow at a CAGR of 3.63% between 2023 and 2028. The market size is forecast to increase by USD 609.64 million. The growth of the market depends on several factors such as the increasing demand for machined seals in manufacturing industries, the competitive advantage gained by manufacturers of machined seals, and the stringent environmental regulations regarding emissions
The report includes a comprehensive outlook on the Machined Seals Market, offering forecasts for the industry segmented by End-user, which comprises automotive industry, heavy industry, machine tools industry, and others. Additionally, it categorizes Type into fluid power seals, power transmission seals, and large diameter seals, and covers Regions, including APAC, North America, Europe, South America, and Middle East and Africa. The report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD million for each of the mentioned segments.
Machined Seals Market Forecast 2024-2028
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Machined seals are highly adopted in industrial premises to ensure leakage protection in critical industrial equipment. Most industrial equipment, such as valves, hoists, chain drives, and pneumatic tools, have to continuously perform under harsh industrial environments. Thus, the adverse industrial conditions in process industries directly impact the performance of molded seals and lead to early wear of the material. Therefore, to resolve this issue, market players are designing machined seals with high-quality materials so that they can handle heavy-duty operations in harsh environmental conditions.
Furthermore, fluoroprene is a fluorinated thermoplastic elastomer that fills the gap between polytetrafluoroethylene (PTFE) and fluorocarbon rubber. Machined seals made of such materials offer superior fluid resistance and lower permeability to the fuels. The advantages of machined seals, such as high durability, heat resistance, and wear resistance, make them suitable for industrial applications. Thus, such factors have supported the replacement of molded seals with machined seals in industrial applications, thereby driving the growth of the market during the forecast period.
End-users remain focused on meeting the demands of customers and use innovative ways of production to achieve a competitive edge in the market. They are increasingly adopting mass customization to meet the diverse demands of end-users. Advances in technology have given rise to manufacturing equipment that is unique and works faster than the existing equipment. Manufacturers produce unique equipment as per the demand of end-users.
Moreover, market players also try to manufacture customized equipment in a standard way that does not require special training. The rapidly shifting trend from standardized to customized industrial products and equipment will positively impact the market of machined seals during the forecast period. Thus, such factors will significantly contribute to the growth of the global machined seals market during the forecast period.
End-users demand different types of sealing solutions for specific applications carried out in their facilities. Manufacturers of machined seals, by considering the demands of end-users, design seals by utilizing the most high-quality materials available in the market. For example, the quality of steel that is used to manufacture seals differs from machined seals to standard seals. This is due to manufacturers' commitment to delivering superior-quality seals to end-users.
Consequently, due to this, the price of machined seals remains higher than that of standard seals. The higher product delivery requirements raise the manufacturing cost in terms of raw material procurement and quality considerations. Therefore, such a factor will impede the growth of the global machined seals market during the forecast period.
The automotive industry segment will account for a major share of the market's growth during the forecast period.?In automotive facilities, different equipment uses machined seals for manufacturing automobiles, especially vehicles that carry heavy loads at high speed, to ensure leakage protection. In-wheel hubs and engine control units, seals are one of the most important parts. In the air admission process, fuel and exhaust gas recirculation (EGR) management of a vehicle is done by specialized seals chosen by market players according to the type of vehicle design and the sizes of different components inside the vehicle.
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The automotive industry segment was valued at USD 1,079.86 million in 2018. Automotive companies prefer machined seals, as they are focused on innovative designs and advanced machines that require special sealing technologies. In vehicles, strong, repeatable, and reliable control of braking function is paramount. To ensure a strong braking system in automobiles, the automotive industry prefers specialized seals manufactured to control the friction and proper functioning of brakes. Therefore, the automotive industry segment is expected to grow in the global machined seals market during the forecast period.
Based on type, the market has been segmented into fluid power seals, power transmission seals, and large-diameter seals. The fluid power seals?segment will account for the largest share of this segment.?Fluid power seals are the seals that transmit power by using fluid pressure. Fluid power seals mainly consist of piston seals, rod seals, wiper seals, guides, and static seals. All these seals are known for delivering high-quality performance in harsh industrial environments. Fluid power seals require minimal maintenance and no frequent servicing. Fluid power seals are the most preferred by end-users, as they can be easily installed and used in different processes in industries. Furthermore, fluid power seals cater to most industries; hence, the demand for customized fluid power seals is also increasing. Therefore, the fluid power seals segment will grow in the global machined seals market during the forecast period.
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APAC is estimated to contribute 44% to the growth by 2028. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. China, India, Japan, and Australia are the major revenue-generating countries in the machined seals market in APAC. The increasing demand for machined seals from the aerospace and automotive industries was the major factor driving the growth of the machined seals market.
In addition, the growth of the aerospace industry in APAC is primarily attributed to the increase in air passenger traffic in the region. The automotive industry has also witnessed an increase in demand for machined seals. Increasing government initiatives aimed at easing trade policy, rising standards of living, a strong industrial base, and increasing demand for automobiles manufactured in the region are some of the key factors leading to the growth of the machined seals market in the APAC during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Datwyler Holding Inc.: The company offers machined seals such as O-Rings, V-Rings, T-Seals, and others.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
A.W. Chesterton Co., AB SKF, AccroSeal, Apple Rubber Products Inc., CARCO PRECISION RUBBER PRODUCTS S.P.A, CTG Inc, EnPro Industries Inc., FedTech Inc., Flexaseal Engineered Seals and Systems LLC, Freudenberg and Co. KG, IDEX Corp., James Walker Group Ltd., MFPSeals, Michelin Group, Parker Hannifin Corp., Pawling Engineered Products Inc., SHV Holdings N.V., Trelleborg AB, and Vanguard Products Corp.
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The machined seals market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Machined Seals Market Scope |
|
Report Coverage |
Details |
Page number |
173 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.63% |
Market Growth 2024-2028 |
USD 609.64 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
2.88 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 44% |
Key countries |
US, China, India, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
A.W. Chesterton Co., AB SKF, AccroSeal, Apple Rubber Products Inc., CARCO PRECISION RUBBER PRODUCTS S.P.A, CTG Inc., Datwyler Holding Inc., EnPro Industries Inc., FedTech Inc., Flexaseal Engineered Seals and Systems LLC, Freudenberg and Co. KG, IDEX Corp., James Walker Group Ltd., MFPSeals, Michelin Group, Parker Hannifin Corp., Pawling Engineered Products Inc., SHV Holdings N.V., Trelleborg AB, and Vanguard Products Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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