Report Scope
This report analyzes the global gasket and seals market in terms of product type, end-use application, and geography. Based on product type, the global gasket and seals market is segregated into gasket (metallic gasket and non metallic gasket) and seal (body seal, shaft seal, and molded seal). Similarly, on the basis of end-use application, the market for gasket and seals is further classified into industrial manufacturing, automotive, electrical and electronics, aerospace, marine & rail equipment, and energy among others. The geographical distribution of the global gasket and seals market considered in this study encompasses regional markets such as North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Overview:
Gasket and Seals are mechanical components primarily used to pack the empty spaces between two or more mating surfaces in order to prevent leakage of gas and fluids. They are also employed to help manufacturers maintain desired pressure in components and avoid entry of foreign particles in the assembly. The global market for gasket and seals is relatively matured and is expected to witness steady gains during the forecast period 2021 – 2029. The growth is expected to be spurred by steady growth in motor vehicle production, compliance with stringent standards and regulations, and resurgence in the industrial manufacturing sector post bleak market conditions prevalent during economic crisis. These factors are expected to contribute towards a CAGR of 5.1% during the forecast period 2021 – 2029.
1.1 Report Description
Purpose of the Report
The purpose of this strategic research study titled “Gasket and Seals Market - Growth, Share, Opportunities, and Competitive Analysis, 2021 – 2029” is to offer industry investors, company executives, and industry participants with in-depth insights to enable them make informed strategic decisions related to the opportunities in the gasket and seals market.
1.1.1 Target Audience
1.1.2 USP and Key Offerings
The report titled “Global Gasket and Seals Market - Growth, Share, Opportunities, and Competitive Analysis, 2021 – 2029” offers strategic insights into the global gasket and seal market along with the market size and estimates for the duration 2019 to 2029. The said research study covers in-depth analysis of multiple market segments based on product type, end-use application, and cross-sectional study across different geographies. In order to help strategic decision makers, the report also includes competitive profiling of the leading industrial fastener manufacturers, their SCOT (Strength, Challenges, Opportunities, and Weaknesses) analysis, market positioning, and recent developments. Other in-depth analysis provided in the report includes:
Overall, the research study provides a holistic view of the global gasket and seals market, offering market size and estimates for the period from 2019 to 2029, keeping in mind the above mentioned factors.
As of 2020, the automotive end-use segment led the global gaskets and seals market revenue share. The segment accounted for over one-third of the global market revenue share in the same year. The trend shall prolong and the segment is poised to retain its dominating position throughout the forecast period. Strong growth in motor vehicle production, especially in economies including India, China, and Mexico are driving demand for gaskets and seals in automotive segment. In addition, compliance with strict emission standards such as NEDC (New European Driving Cycle) and CAFÉ (Corporate Average Fuel Economy) is expected to support demand for gaskets and seals in automotives. On the other hand, the use of gaskets and seals in electrical and electronics segment is expected to exhibit maximum growth. The growth in this segment can be majorly credited to growing electronic and electrical equipment production.
As of 2020, Asia Pacific dominated the global gasket and seals market in terms of both revenue and volume. The resurgence in the industrial sector coupled with steady rise in automotive production, especially in economies like China and India bodes well for the overall market growth in the region. China is the leading producer and exporter of gaskets and seals in worldwide and is presumed to register strong gains in the coming years. In addition, growth in the construction and infrastructure sectors is also expected to fuel demand for gaskets and seals in the region. On the other hand, the gasket and seals market in North America and Europe is slowly recovering post bleak market conditions prevailing during economic recession.
As of 2020, the automotive end-use segment led the global gaskets and seals market revenue share. The segment accounted for over one-third of the global market revenue share in the same year. The trend shall prolong and the segment is poised to retain its dominating position throughout the forecast period. Strong growth in motor vehicle production, especially in economies including India, China, and Mexico are driving demand for gaskets and seals in automotive segment. In addition, compliance with strict emission standards such as NEDC (New European Driving Cycle) and CAFÉ (Corporate Average Fuel Economy) is expected to support demand for gaskets and seals in automotives. On the other hand, the use of gaskets and seals in electrical and electronics segment is expected to exhibit maximum growth. The growth in this segment can be majorly credited to growing electronic and electrical equipment production.
As of 2020, Asia Pacific dominated the global gasket and seals market in terms of both revenue and volume. The resurgence in the industrial sector coupled with steady rise in automotive production, especially in economies like China and India bodes well for the overall market growth in the region. China is the leading producer and exporter of gaskets and seals in worldwide and is presumed to register strong gains in the coming years. In addition, growth in the construction and infrastructure sectors is also expected to fuel demand for gaskets and seals in the region. On the other hand, the gasket and seals market in North America and Europe is slowly recovering post bleak market conditions prevailing during economic recession.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Gasket and Seals market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Product
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End-use Application
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
