Europe Hydraulic Seals Market Forecast to 2027 – COVID-19 Impact and Analysis – by Product (Wiper Seals, Piston Seals, Rod Seals, Buffer Seals, and Others), and End-Use Industry (Automotive, Aerospace, Agriculture, Chemical, Marine, and Others)
Number of Pages: 80
Market Introduction
Hydraulic seals are utilized in hydraulic cylinders to seal the openings between several components in the hydraulic cylinder. Seals are either machined or molded and are carefully designed using sophisticated simulation software. Hydraulic seals are made of a variety of materials, such as polyurethane, rubber, or polytetrafluoroethylene (PTFE). Hydraulic seals offer high resistance from fluid, heat, and wear & tear. The major task of hydraulic seals are to retain hydraulic fluids, maintain rod and pistons alignment, to exclude solid or liquid contaminations, and to maintain the hydraulic pressure. Hydraulic seals are used in various end user industries such as aerospace, automotive, agriculture, construction, oil and gas, marine, chemical, and others. Thus, the tremendous increase in the construction and infrastructural activities is expected to create a significant demand for hydraulic seals in the coming years, which is further anticipated to drive the hydraulic seals market.
Market Overview and Dynamics
The hydraulic seals market in Europe is expected to grow from US$ 754.43 million in 2019 to US$ 1125.29 million by 2027; it is estimated to grow at a CAGR of 5.2% from 2020 to 2027. Emerging economies are now investing heavily in infrastructure development in order to solve problems such as population explosion, traffic congestion, and aging transportation infrastructure. Developed countries focus on enhancing their current infrastructure by investing in technologies such as earthquake-proof buildings, hyperloop, and others. These factors are propelling the sales of construction machinery, which subsequently boosts the hydraulic seals market growth. The lack of basic infrastructure facilities such as roads for transportation, information and communication, and electric power is forcing the governments of developing economies to invest in infrastructure activities. This expanding scope of development in the infrastructure industry promotes several businesses to introduce advanced solutions and equipment. This is anticipated to stimulate the demand for hydraulic cylinders and hydraulic seals. This is bolstering the growth of the hydraulic seals market.
In Europe, currently Russia is the hardest-hit country due to the COVID-19 outbreak. It is witnessing an economic hit due to a lack of revenue from various industries, as the country recorded the highest number of COVID-19 positives cases followed by France. The global demand for aircraft is declined amid the COVID-19 pandemic, which is substantially lowering the order volumes among airframe manufacturers and reducing airframe production, resulting in less demand for hydraulic seals. Further, decreased production rates have adversely affected the businesses of various component manufacturers. Other member states have implemented drastic measures and travel restrictions, including partially closing their borders. This scenario is restraining the growth of the hydraulic seals market in Europe.
Key Market Segments
In terms of product, the rod seals segment accounted for the largest share of the Europe hydraulic seals market in 2019. Based on end-use industry, the hydraulic seals market is divided into automotive, aerospace, agriculture, chemical, marine, and others. Chemical is expected to be the fastest growing segment over the forecast period.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the hydraulic seals market in Europe are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are A.W. Chesterton Company, Freudenberg Sealing Technologies, James Walker, Kastas Sealing Technologies A.S., SealTeam Australia, SKF, Trelleborg AB, and Parker Hannifin Corporation among others.
Reasons to buy report
North America Hydraulic Seals Market Segmentation
Europe Hydraulic Seals Market- by Product
Europe Hydraulic Seals Market- by End- use Industry
Europe Hydraulic Seals Market- by Country
Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 754.43 Million |
| Market Size by 2027 | US$ 1125.29 Million |
| CAGR (2020 - 2027) | 5.2% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Product
|
| Regions and Countries Covered |
Europe
|
| Market leaders and key company profiles |
|
The Europe Hydraulic Seals Market is valued at US$ 754.43 Million in 2019, it is projected to reach US$ 1125.29 Million by 2027.
As per our report Europe Hydraulic Seals Market, the market size is valued at US$ 754.43 Million in 2019, projecting it to reach US$ 1125.29 Million by 2027. This translates to a CAGR of approximately 5.2% during the forecast period.
The Europe 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 Europe Hydraulic Seals Market report:
The Europe Hydraulic Seals Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Hydraulic Seals Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Hydraulic Seals Market value chain can benefit from the information contained in a comprehensive market report.
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