Gasket and Seals Market 2016 Analysis and Forecasts to 2020 - Analysis of Boyd Corp, Dana Holding, ElringKlinger, Federal-Mogul and SKF
Resource from: PRNewswire Likes:253
Apr 11,2016
PUNE, India, April 8, 2016 /PRNewswire-iReach/ -- This market research study presents a detailed segmentation of the global gaskets and seals market by end-user (automotive, industrial machinery, electrical and electronics, and others) and by geography (Americas, APAC, and EMEA). The key vendors identified in the market are Boyd Corp, Dana Holding, ElringKlinger,
Outlook of the gaskets and seals market
The market research analysts have predicted the global gaskets and seals market to grow steadily at a CAGR of more than 5% over the forecast period. The imposition of stringent environmental regulations is one of the most important factors driving the growth of this market. Growing fuel efficiency norms are driving the demand for gaskets and seals as essential components in the automobile, pharmaceutical, chemical, oil and gas, mining, and water and wastewater management industries. Moreover, several international organizations and government agencies in various countries like US EPA have implemented strict rules and standards for the mining, refining, oil and gas, power, and chemical industries to control toxic emissions, ensure safety in operations, and prevent gas and fluid leakage through pipes, boilers, and other equipment. These developments are expected to lead to an augmented demand for superior quality gaskets and seals in the coming years.
In this industry research report, the analysts have estimated factors such as the increasing adoption of renewable sources of energy will drive this market over the predicted period. Gaskets and seals are employed in systems that harness renewable energy sources such as solar, wind, geothermal, and solar thermal for power generation. Therefore, the increasing focus toward sustainable development and the use of renewable sources of energy will propel this market's growth prospects over the predicted period.
Segmentation by end-user and analysis of gasket and seals market
* Automotive
* Industrial machinery
* Electrical and electronics
During 2015, the automotive segment dominated the gasket and seals market and accounted for more than 36% of the market share. Gaskets and seals are used extensively in automobile engines. They play a pivotal role in not only increasing in the lifespan of automotive components but also helps in reducing maintenance costs. With the increase in stringent emission standards, such as CAFE and NEDC, vehicle manufacturers are required to ensure that their vehicles cause the least GHG emissions possible, thereby propelling this segment's growth prospects during the predicted period.
Geographical segmentation and analysis of the gasket and seals market
* Americas
* APAC
* EMEA
The APAC region dominated the global gasket and seals market and will generate revenues of over USD 16 billion by the end of 2020. Factors such as a rise in demand from the automotive industry from emerging economies like India and China will drive the market in the region during the predicted period. Moreover, the growth of the construction and infrastructure market in APAC will also fuel the demand for gaskets and seals in the coming years.
Competitive landscape and key vendors
The global gasket and seals market is very competitive and is characterized by the presence of several well-established global, regional, and local suppliers. The vendors are focused on developing and modifying their marketing and distribution channels to enhance their product placement in the market. Vendors compete on the basis of innovation, price, quality and performance, and customer-centrism.
Key vendors in the market are -
* Boyd Corp
* Dana Holding
* ElringKlinger
* Federal-Mogul
* SKF
Other prominent vendors in the market include James Walker, Flowserve, Timken, Henniges Automotive Sealing Systems, Elring Klinger, Hutchinson, Parker Hannifin, SIEM Supranite, John Crane, and Lamons.
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1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.
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