Hydraulic Seals Market Size to Cross US$ 5,770.71 Mn by 2027

Hydraulic Seals Market to Grow at a CAGR of 4.9% to reach US$ 5,770.71 Million from 2020 to 2027

NEW YORK, UNITED STATES, December 9, 2021 /EINPresswire.com/ -- According to The Insight Partners latest market study on “Hydraulic Seals Market Forecast to 2027 – COVID-19 Impact and Global Analysis - by Product and End-Use Industry,” the market was valued at US$ 3,950.09 million in 2019 and is projected to reach US$ 5,770.71 million by 2027; it is expected to grow at a CAGR of 4.9% from 2020 to 2027. The report highlights key factors driving the market growth and prominent players with their developments in the market.

Strategic Insights

Market Size Value - in US$ 3,950.09 Million in 2019
Market Size Value - by US$ 5,770.71 Million by 2027
Growth rate - CAGR of 4.9% from 2020-2027
Forecast Period - 2020-2027
Base Year - 2020
No. of Pages - 146
No. Tables - 56
No. of Charts & Figures - 70
Historical data available - Yes
Segments covered - Product and End-User Industry
Regional scope - North America; Europe; Asia Pacific; Latin America; MEA
Country scope - US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage - Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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Hydraulic seals are utilized in hydraulic cylinders to seal openings between several components in a 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). It offers high resistance from fluid, heat, and wear & tear. The major tasks of hydraulic seals are to retain hydraulic fluids, maintain rod and pistons alignment (to exclude solid or liquid contaminations), and maintain the hydraulic pressure. Hydraulic seals are used in various end-use industries such as aerospace, automotive, agriculture, construction, oil & gas, marine, and chemical.

Rising adoption of hydraulic cylinders across various end-user industries – influence the hydraulic seals market globally

Hydraulic cylinders are highly utilized by various end-user industries such as automotive, agriculture, construction, aerospace, oil & gas, and many others. Hydraulic seals play a pivotal role in hydraulic cylinders. In order to contain the pressurized fluids in a hydraulic cylinder system and keep it in motion, high-performance seals are required. Thus, the hydraulic seals market grows in accordance with the increasing demand for hydraulic cylinders. Uninterrupted demand in industries where hydraulic systems play a crucial role is a significant factor in boosting hydraulic cylinder adoption. Irreplaceability of hydraulic systems in aviation, manufacturing, construction equipment, and infrastructure helps the growth of the hydraulic seals market.

Impact of COVID-19 on Hydraulic Seals Market:

The COVID-19 outbreak was first reported in Wuhan (China) during December 2019. As of December 2020, the US, India, Brazil, Russia, France, the UK, Italy, Spain, Germany, Colombia, Argentina, and Mexico are among the most affected countries in terms of COVID-19 confirmed cases and reported deaths. According to the latest WHO figures, there are ~81,159,096 confirmed cases and 1,791,246 total deaths across the world. The pandemic is adversely affecting various industries across the world due to lockdowns, travel bans, and business shutdowns. The global manufacturing industry is one of the major industries that are suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns. The lockdown of various plants and factories in leading regions such as North America, Europe, Asia Pacific, South America, and the Middle East and Africa is restricting the global supply chains and hindering the manufacturing activities, delivery schedules, and various goods sales. In addition, global travel bans imposed by countries in Europe, Asia, and North America are hampering the business collaborations and partnerships opportunities. All these factors are disrupting the manufacturing industry, which is eventually restraining the growth of hydraulic seals market.

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Hydraulic Seals Market: By Product

Based on product, the global hydraulic seals market is segmented into wiper seals, piston seals, rod seals, buffer seals, and others. The rod seals segment led the market in 2019. Rod Seals are the sealing devices used to impede fluid leakage from a cylinder and maintain the movement between piston head and the cylinder head. These types of seals are primarily used in fluid power plants and in hydraulic cylinders to seal the system pressure. In most fluid power systems, proper sealing effect or proper functioning of the rod seals is one parameter for decision-making efficiency and effectiveness. Hence, rod seals are one of the most important components of the sealing system, given that any failure to perform them can have a significant effect on the performance of the entire equipment. In addition to all factors applicable to piston seals, nonperformance rod seals can contribute to a loss of fluid that may also affect the environment.

Hydraulic Seals Market: Competitive Landscape and Key Developments

AccroSeal, A.W. Chesterton Company, All Seals Inc., Freudenberg Sealing Technologies, James Walker, Kastas Sealing Technologies, Parker Hannifin Corp, SealTeam Australia, SKF, and Trelleborg Group are among the players operating in the global hydraulic seals market.

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