The APAC pump mechanical seals market was valued at US$ 2.24 Bn in 2020, up from US$ 2.09 Bn in 2019. By 2028, the market is projected to reach US$ 4.09 Bn, exhibiting a CAGR of 6.78% over the forecast period (2021–2028).
The APAC pump mechanical seals market is segmented on the basis of design type, which includes pusher seals, non-pusher seals, and cartridge seals. On the basis of industry, it is segmented into oil & gas, power, water treatment & water supply industry, chemical industry, pharmaceutical industry, mining & mineral extraction industry, pulp & paper processing, and others.
In India, the demand for pump mechanical seals from pharmaceutical industry and oil & gas industry is expected to increase, due to high economic growth and favorable government policies such as ‘Pharma 2020’. This is expected to aid in growth of the APAC pump mechanical seals market over the forecast period.
APAC Pump Mechanical Seals Market - Impact of Coronavirus (Covid-19) Pandemic
COVID-19 has significantly disrupted almost all the industries including automotive, manufacturing others. To combat COVID-19 pandemic, most of the countries had implemented lockdown and are now easing it phase-wise and industry wise. This has significantly impacted pump mechanical seal market as the facilities across the globe were temporarily shut down.
The COVID-19 has turned into a global crisis and it has a significant impact on the supply-side as well as the demand side of the pusher seals market. The companies need to evaluate impacts on three fronts: supply chain, market demand, and workforce.
The companies offering pusher seals are experiencing disruption in production and low demand due to lack of availability of workers. The COVID-19 crisis has disrupted entire tier structure of the supply chain in the seals industry.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2020 | Market Size in 2020: | US$ 2.24 Bn |
| Historical Data for: | 2017 to 2019 | Forecast Period: | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR: | 6.78% | 2028 Value Projection: | US$ 4.09 Bn |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
John Crane, Eagleburgmann, Flowserve Corporation, AESSEAL Plc., Shutterstock, Inc., Meccanotecnica Umbra Spa, Vulcan Engineering Limited, Garlock, Sichuan Sunny Seal Co. Ltd., Sulzer Ltd., James Walker. |
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| Growth Drivers: |
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| Restraints & Challenges: |
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Figure 1. APAC Pump Mechanical Seals Market Share, By Industry, 2020
Oil & Gas segment is expected to drive the market growth during the forecast period.
Among industry, Oil & Gas segment is expected to hold dominant position in the APAC pump mechanical seals market during the forecast period. This is attributed to the increasing demand for petroleum products which is expected to drive the segment growth during the forecast period.
Figure 2: APAC Pump Mechanical Seals Market Value (US$ Bn) Analysis and Forecast and Y-o-Y Growth (%), 2017 - 2028
Major players operating in the APAC pump mechanical seals market include John Crane, Eagleburgmann, Flowserve Corporation, AESSEAL Plc., Shutterstock, Inc., Meccanotecnica Umbra Spa, Vulcan Engineering Limited, Garlock, Sichuan Sunny Seal Co.Ltd., Sulzer Ltd., and James Walker.
The APAC pump mechanical seals market was valued at US$ 2.24 Bn in 2020, up from US$ 1.87 Bn in 2017. By 2028, the market is projected to reach US$ 4.09 Bn, exhibiting a CAGR of 6.78% over the forecast period (2021–2028).
The APAC pump mechanical seals market is segmented on the basis of design type, which includes pusher seals, non-pusher seals, and cartridge seals. Based on industry, it is segmented into oil & gas, power, water treatment & water supply industry, chemical industry, pharmaceutical industry, mining & mineral extraction industry, pulp & paper processing, and others.
Market Dynamics
According to Future Directional Internationals, demand for pumps in water treatment & water supply industry is increasing significantly due to depleting reserves of groundwater. Therefore, these industries are setting up their own water treatment plant to reuse the water. Furthermore, strict regulatory 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 a major factor expected to positively impact growth of the pump mechanical seals market.
In oil & gas industry, safety and reliability are important. Therefore, players in the oil & gas industry are adopting innovative mechanical seal solutions such as elastomer seals, O-ring seals, and bellow seal. Furthermore, leakages from the oil & gas industry are explosive, therefore the use of mechanical seals are mandatory in these industries, which drives the growth of APAC pump mechanical seals market.
Key features of the study:
Detailed Segmentation
“*” marked represents similar segmentation in other categories in the respective section.
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