Market Introduction
Hydraulic seals refer to relatively soft and non-metallic rings that are captured in the groove or can be fixed in a combination of rings that leads to the formation of a seal assembly. This assembly separates the fluid in the reciprocating motion applications. The hydraulic seals forma a vital part in machinery. They offer a way by which the fluid power gets converted into linear motion. The hydraulic seals can be made using various materials like polyurethane, rubber or PTFE. The type of material to be used is determined by limits due to the fluid type, by specific operating conditions, chemical compatibility of fluids or with the help of temperature.
Market Overview and Dynamics
The Asia Pacific hydraulic seals market is expected to reach US$ 2,273.66 Million in 2027 from US$ 1,576.70 Million in 2019. The market is anticipated to grow at a CAGR of 4.7 % from 2020 to 2027. Factors driving the market growth include rising adoption of hydraulic cylinders across various end-user industries and advantages offered by hydraulic seals. However, adoption of adhesives and sealants instead of hydraulic seals is likely to have a negative impact on the market growth.
Effect of covid-19 on Asia Pacific hydraulic seals market
The ongoing COVID-19 outbreak began in Wuhan (China) in December 2019, but later it spread to all the parts of the world. It has adversely affected the chemicals and materials industry as the industry is suffering from supply chain disruptions, lockdowns, travel bans, and business shutdowns called in various countries. India has the highest number of confirmed cases of the COVID-19 morbidity among all Asia Pacific countries. This is likely to impact the chemicals and materials industry in the region due to the disruption of supply and distribution chain in Asia Pacific. In addition, the lockdown scenarios are also impacting the overall manufacturing processes, research, and development activities pertaining to different industries.
Key Market Segments
The rod seals segment accounted for a larger share of the Asia Pacific hydraulic seals market, by product type, in 2019. The chemical segment accounted for a larger share of the Asia Pacific hydraulic seals market, by end user industry, in 2019.
Major Sources and Companies Listed
A few of the major primary and secondary sources referred to while preparing this report on the Asia Pacific hydraulic seals market include A.W. Chesterton Company, Freudenberg Sealing Technologies, James Walker, Kastas Sealing Technologies, Parker Hannifin Corp, SealTeam Australia, SKF, and Trelleborg Group.
Reasons to buy the report
Asia Pacific Hydraulic Seals Market Segmentation
By Product Type
By End-User Industry
Company Profiles
By Country
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 1,576.70 Million |
| Market Size by 2027 | US$ 2,273.66 Million |
| CAGR (2020 - 2027) | 4.7 % |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Product
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
The Asia Pacific Hydraulic Seals Market is valued at US$ 1,576.70 Million in 2019, it is projected to reach US$ 2,273.66 Million by 2027.
As per our report Asia Pacific Hydraulic Seals Market, the market size is valued at US$ 1,576.70 Million in 2019, projecting it to reach US$ 2,273.66 Million by 2027. This translates to a CAGR of approximately 4.7 % during the forecast period.
The Asia Pacific Hydraulic Seals Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Hydraulic Seals Market report:
The Asia Pacific Hydraulic Seals Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Hydraulic Seals Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Hydraulic Seals Market value chain can benefit from the information contained in a comprehensive market report.
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