The global mechanical pump seals market was valued at US$ 4.06 billion in 2017, and is projected to reach US$ 7.34 billion by 2026, exhibiting a CAGR of 6.8% over the forecast period, according to Global Mechanical Pump Seals Market Report, by Design Type (Pusher Seals, Non-pusher Seals, and Cartridge Seals), by Industry (Oil & Gas, Power, Water Treatment & Water Supply Industry, Chemical Industry, Pharmaceutical Industry, Mining & Mineral Extraction Industry, Pulp & Paper Processing, and Others), and by Region (North America, Europe, Asia Pacific, and LAMEA).
Mechanical pump seals are designed to provide better sealing ability to avoid leakage between rotating part, which is a shaft of pump and stationary part of the pump housing. Mechanical pump seals are used on large scale in oil & gas, power, chemical, pharmaceutical, and other industries. Mechanical seals help to increase the productivity of the machine by preventing unnecessary losses of fluid and gases, owing to which industries are focusing on using mechanical seals to improve overall equipment performance with minimized operational costs and productivity losses. Earlier, the companies were using gland packaging material in pumps which used to reduce the productivity and performance of the pump, owing to these disadvantages of gland packaging nowadays mechanical seals are preferred by various end-use industries such as Oil and Gas, Chemical, Food and Beverage, and Pharmaceutical Industries in order to reduce the equipment downtime, and which in-turn boosts the overall equipment performance, this in turn will help the mechanical pump seals market to grow during the forecast period.
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Browse 60 market data tables* and 40 figures* on "Global Mechanical Pump Seals Market” - Global forecast to 2026.
Key Trends and Analysis of the Global Mechanical Pump Seals Market:
- Among design type, cartridge seals segment is expected to exhibit the highest growth rate during the forecast period. This is owing to various advantages of cartridge seals such as ease in installation process and reduction in the number of errors over conventional mechanical seals. Therefore, various end-use industries are preferring cartridge mechanical seals over other mechanical seals type.
- Among industry segment, power segment is expected to be the fastest growing segment during the forecast period, owing to various power generation plants being set up in the recent periods, for instance according to U.S. Energy Information Administration four new refineries were setup in the years 2014 to 2017 which includes hydroelectric, nuclear, and geothermal energy power plants. These power generation plants are effectively utilizing mechanical pump seals, in order to improve and enhance the productivity and meet critical operations in power plants.
Key Takeaways of the Market:
- According to ’ analysis, Asia Pacific is the leading region in the global mechanical pump seals market and is expected to witness high growth over the forecast period, owing to increase in adoption of mechanical seals to ensure precise and prefect sealing of pipelines
- According to ’ research, China and India are the leading countries in terms of market share in the Asia Pacific mechanical pump seals market. Asia Pacific is expected to grow at the highest CAGR during the forecast period, owing to various government initiatives supporting growth of the market in the region. For instance, Indian government launched a policy known as ‘Pharma Vision 2020’, which aims to attract pharmaceutical industry in India and become a global leader in end-to-end drug manufacturing.
- Some of the major players operating in the global mechanical pump seals market include John Crane, Eagleburgmann, Flowserve Corporation, AESSEAL Plc, Meccanotecnica Umbra Spa, Vulcan Engineering Limited, Garlock, Sichuan Sunny Seal Co. Ltd, Sulzer Ltd, James Walker, and others