Europe Hydraulic Seals Market
No. of Pages: 80 | Report Code: TIPRE00019191 | Category: Chemicals and Materials
No. of Pages: 80 | Report Code: TIPRE00019191 | Category: Chemicals and Materials
Hydraulic seals are utilized in hydraulic cylinders to seal the openings between several components in the 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). Hydraulic seals offer high resistance from fluid, heat, and wear & tear. The major task of hydraulic seals are to retain hydraulic fluids, maintain rod and pistons alignment, to exclude solid or liquid contaminations, and to maintain the hydraulic pressure. Hydraulic seals are used in various end user industries such as aerospace, automotive, agriculture, construction, oil and gas, marine, chemical, and others. Thus, the tremendous increase in the construction and infrastructural activities is expected to create a significant demand for hydraulic seals in the coming years, which is further anticipated to drive the hydraulic seals market.
The hydraulic seals market in Europe is expected to grow from US$ 754.43 million in 2019 to US$ 1125.29 million by 2027; it is estimated to grow at a CAGR of 5.2% from 2020 to 2027. Emerging economies are now investing heavily in infrastructure development in order to solve problems such as population explosion, traffic congestion, and aging transportation infrastructure. Developed countries focus on enhancing their current infrastructure by investing in technologies such as earthquake-proof buildings, hyperloop, and others. These factors are propelling the sales of construction machinery, which subsequently boosts the hydraulic seals market growth. The lack of basic infrastructure facilities such as roads for transportation, information and communication, and electric power is forcing the governments of developing economies to invest in infrastructure activities. This expanding scope of development in the infrastructure industry promotes several businesses to introduce advanced solutions and equipment. This is anticipated to stimulate the demand for hydraulic cylinders and hydraulic seals. This is bolstering the growth of the hydraulic seals market.
In Europe, currently Russia is the hardest-hit country due to the COVID-19 outbreak. It is witnessing an economic hit due to a lack of revenue from various industries, as the country recorded the highest number of COVID-19 positives cases followed by France. The global demand for aircraft is declined amid the COVID-19 pandemic, which is substantially lowering the order volumes among airframe manufacturers and reducing airframe production, resulting in less demand for hydraulic seals. Further, decreased production rates have adversely affected the businesses of various component manufacturers. Other member states have implemented drastic measures and travel restrictions, including partially closing their borders. This scenario is restraining the growth of the hydraulic seals market in Europe.
In terms of product, the rod seals segment accounted for the largest share of the Europe hydraulic seals market in 2019. Based on end-use industry, the hydraulic seals market is divided into automotive, aerospace, agriculture, chemical, marine, and others. Chemical is expected to be the fastest growing segment over the forecast period.
A few major primary and secondary sources referred to for preparing this report on the hydraulic seals market in Europe are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are A.W. Chesterton Company, Freudenberg Sealing Technologies, James Walker, Kastas Sealing Technologies A.S., SealTeam Australia, SKF, Trelleborg AB, and Parker Hannifin Corporation among others.
Strategic insights for the Europe Hydraulic Seals provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 754.43 Million |
| Market Size by 2027 | US$ 1125.29 Million |
| Global CAGR (2020 - 2027) | 5.2% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Product
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |
The geographic scope of the Europe Hydraulic Seals refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The Europe Hydraulic Seals Market is valued at US$ 754.43 Million in 2019, it is projected to reach US$ 1125.29 Million by 2027.
As per our report Europe Hydraulic Seals Market, the market size is valued at US$ 754.43 Million in 2019, projecting it to reach US$ 1125.29 Million by 2027. This translates to a CAGR of approximately 5.2% during the forecast period.
The Europe Hydraulic Seals Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Hydraulic Seals Market report:
The Europe Hydraulic Seals Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Hydraulic Seals Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Hydraulic Seals Market value chain can benefit from the information contained in a comprehensive market report.
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