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Global O-ring Seals Market to Grow at a CAGR of about 6.10% in the Forecast Period of 2022-2027, Aided by the Growth of its End-Use Industries

According to a new report by EMR titled, ‘Global O-ring Seals Market Report and Forecast 2022-2027’, the global O-ring seals market is expected to grow at a CAGR of about 6.10% in the forecast period of 2022-2027, driven by the rising end-use industries and a significant rise in motor vehicle production.

A significant increase in motor vehicle production, machinery output, and electrical and electronic equipment production is anticipated to boost the demand for O-ring seals in the market. There is a significant rise in motor vehicle production, which fuels the demand for O-ring. Leakage from various industrial equipment can result in significant loss of material and indirect loss in terms of labour and material cost of repair, environmental losses, wasted energy, sales due to downtime, etc. In the case of industrial accidents and personal injury claims, both direct and indirect losses can have a negative influence on a company's functioning in terms of revenue creation and brand image. As a result, these factors are projected to propel the O-ring and seals market forward over the forecast period. The market is also expected to be driven by strict restrictions integrated by automobile organisations and bureaus regarding the maximum limit of emission of dangerous gases such as carbon monoxide and nitrogen oxide. Moreover, manufacturers are focusing on improving fuel economy by providing lightweight, simple-to-assemble, and higher-quality automobile O-ring seals components.

The global manufacturers of gasket and seals, to better serve their customers, are introducing new products and are involved in the expansion of their product portfolio. For instance, in November 2019, Trelleborg signed an agreement through its Trelleborg Sealing Solutions (STO: TREL-B) business area to acquire a United States-based Tritec Seal. Engineered polytetrafluoroethylene (PTFE) sealing solutions are available from the company. Trelleborg's product portfolio, particularly in rotary seals, was strengthened as a result of the acquisition, and the business area gained access to much-needed manufacturing capacity.

Market Analysis by Type, Application, and Regions:

  • Based on type, the market is categorised into synthetic rubber and thermoplastic elastomer.
  • The leading application of the market includes electrical and electronic products, aerospace equipment, energy, automobile, and machinery manufacturing, among others.
  • The regional markets for O-ring Seals include North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The market in emerging nations is likely to be driven by factors such as stable economic growth, increased company investment spending, and robust advances in manufacturing production.
  • The market growth is likely to be aided by rising government investments in strengthening indigenous manufacturing capabilities.
  • Various technological progressions are likely to aid in the market expansion of O-ring seals.
  • Several companies are developing unique materials to improve the characteristics of sealing components, which is fueling the demand for O-ring seals.
  • The manufacturer’s ability to respond to demand for such products with reduced lead time and at competitive prices is expected to create significant growth opportunities in the global market for O-ring.

Key Offerings of the Report:

  • The EMR report gives an overview of the global O-ring seals market for the periods (2017-2021) and (2022-2027).  
  • The report also offers the historical (2017-2021) and forecasted (2022-2027) markets for type, applications, and major regions of O-ring seals. 
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global O-ring seals industry are NOK Corporation, Freudenberg SE, Parker Hannifin Corp, Trelleborg Sealing Solutions Germany GmbH, and AB SKF, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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