by Mechanical pump seals play a crucial role in mechanical and industrial equipment to prevent leakage and contamination in pipelines by creating a barrier between the sealed fluid and its surroundings. They offer benefits such as improved efficiency, reduced downtime and maintenance costs. Mechanical seals find wide applications in the petrochemical, oil & gas, food & beverage, wastewater management, and power generation industries.
The global Mechanical Pump Seals Market is estimated to be valued at US$ 3537.54 Mn in 2023 and is expected to exhibit a CAGR of 5.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Mechanical seals act as crucial components in pumps and other equipment used across various industries. Their widespread adoption in the petrochemical, oil & gas, food & beverage, and power generation sectors is expected to drive significant demand over the forecast period. Further, growing infrastructure development activities along with rising investments in process industries worldwide are creating significant opportunities for mechanical pump seals manufacturers. Innovation oriented towards developing energy efficient and reliable seals customized for specific industrial applications will also augment the market expansion.
Segment Analysis
Mechanical pump seals prevent leakage of liquids at the point where rotating shafts penetrate pump casings. There are two dominant segments in the mechanical pump seals market – spring-loaded seals and hydrodynamic seals. Hydrodynamic seals have emerged as the leading segment as they have lower leakage and friction compared to spring-loaded seals, which leads to greater energy efficiency. Their ability to function well with varying pressures and temperatures has further increased their adoption across various end-use industries like oil and gas, pharmaceuticals, food processing, etc.
Key Takeaways
The Global Mechanical Pump Seals Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The global Mechanical Pump Seals Market is estimated to be valued at US$ 3537.54 Mn in 2023 and is expected to exhibit a CAGR of 5.6% over the forecast period 2023 to 2030.
The Asia Pacific region currently dominates the global mechanical pump seals market and is expected to continue its dominance during the forecast period as well. Rapid industrialization and growth in process industries like oil and gas, power generation, pharmaceuticals are driving the demand for mechanical pumps and their seals in the region.
Key players operating in the mechanical pump seals market are John Crane, EagleBurgmann, Flowserve Corporation, AESSEAL, Meccanotecnica Umbra, VULCAN, Garlock, SunnySeal, Oerlikon Balzers, and Ekato.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
