Overview:

Gasket and seals are flat machined products used between two coupling or assembling surfaces to fill gaps to avoid leakage. Seals are majorly available in O-ring size, whereas gaskets are cut and manufactured as per the requirement.

Market Dynamics:

Rising automotive production globally is a key factor driving demand for gaskets and seals to be used in engines and other application, which is a key factor fueling growth of the target market. In addition, rising government norms and regulation related to emission owing to rising environmental concerns has led to increased demand for gaskets and seals especially from oil & gas, and petrochemical industries, which is another factor further propelling growth of the market globally. However, rising demand for electric vehicles is expected to hamper the growth of the target market to a certain extent during the forecast period.

Key Trends:

Rising strategic mergers and acquisitions among key manufacturers of gasket and seals is a key trend observed in the global market. For instance, in March 2018, CapsStreet Group acquired   American Packing & Gasket, LLC, a key manufacturer of gasket and hose.

Regional Analysis:

For detailed understanding of market dynamics, the global market is analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America accounted for significant share in terms of revenue in the global gasket and seals market. The market in Asia Pacific is expected to witness highest growth rate during the forecast period. Growing automotive and electronics sectors and rapid industrialization are key factors driving growth of the market in Asia Pacific Region.

Scope of the Report:

Detailed Segmentation:

Global Gasket and Seals Market, By Type:

• Gasket
• Seals

Global Gasket and Seals Market, By Application:

• Automotive
• Electrical & Electronics
• Industrial & Manufacturing
• Aerospace
• Oil & gas
• Chemicals & Petrochemicals
• Others

Global Gasket and Seals Market, By Distribution Channel:

• OEM
• Aftermarket

Key Players Covered:

Key players operating in the market includes, AB SKF, Dana Holding Corporation, Federal Mogul Motorparts, Freudenberg Sealing Technologies GmbH & Co. KG, Flowserve Corporation, Smiths Group Plc, Trelleborg Sealing Solutions AB, ElringKlinger, Cooper Standard Holding Inc., and Bruss Sealing System GmbH.

Key features of the study:

Foresight Market Research provides detailed analysis on global market in our report- Global Gasket and Seals Market by type, application, distribution channel, and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2018 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global gasket and seals market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, ongoing trends, market expansion, and marketing tactics used overall the globe.