Mechanical Pump Seals Market
Mechanical pump seals are used on large number in oil and gas refinery and industry to avoid leakage of gases and oil. Mechanical pump seals witnessed significant adoption in the oil and gas exploration activities during the forecast period, owing to increasing demand for petroleum products such as petrol and diesel across the world. For instance, according to U.S. Energy Information Administration, four new refineries were setup from 2014 to 2017. High demand for mechanical pump seals to avoid leakage of high priced gases and fluids are another factor boosting the growth of the mechanical pump seals market.
Market Dynamics:
The global mechanical pump seals market growth is attributed to stringent norms and guidelines put forward by various government agencies to reduce leakage and emission in rotating equipment from various end-use industries such as oil and gas, chemical, food and beverage, water treatment plants, and pharmaceutical industries. Some of these include policy such as environment protection rule for sewage water treatment plants put forward by the government bodies, across the world towards development of sustainable water systems, is another major factor expected to positively impact growth of the mechanical pump seals market. Increasing awareness among consumers, governments, and end-use industries to protect the environment from hazardous gases generated from oil & gas industry is expected to increase demand for installation of mechanical seals rather than packaging material. Such events will aid in growth of the pump mechanical seals market over the forecast period. Mechanical seals are used to stop leakage of oil and gases from pipelines, these seals are in direct contact with oil and gases so it gradually wears out and needs to be changed after some interval of time. Therefore, the demand for mechanical pump seals will keep on rising, which will boost growth of the market.
However, use of gaskets as an alternative to mechanical seals in water and wastewater management plants to stop the leakage of water is a major restraining factor for mechanical pump seal market.
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