Hydraulic Seals Market Revenue to Surpass US$ 5,770.71 Million by 2027 at 4.9% CAGR: Impact of COVID-19 Pandemic and Global Analysis by The Insight Partners

Rising Adoption of Hydraulic Cylinders across Various End-Use Industries Escalates Market Growth at 4.9% CAGR during 2020-2027

According to our latest market study on "Hydraulic Seals Market Forecast to 2027 - COVID-19 Impact and Global Analysis - by Product (Wiper Seals, Piston Seals, Rod Seals, Buffer Seals, and Others) and End-Use Industry (Automotive, Aerospace, Agriculture, Chemical, Marine, and Others)," 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.

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.

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Major key players covered in this report:
A few well-established players operating in the global hydraulic seals market are A.W. Chesterton Company, All Seals Inc., Freudenberg Sealing Technologies, James Walker, Kastas Sealing Technologies, Parker Hannifin Corp, SealTeam Australia, SKF, and Trelleborg Group.

Hydraulic cylinders are highly utilized by various end-use industries such as automotive, agriculture, construction, aerospace, and oil & gas. Hydraulic seals play a pivotal role in hydraulic cylinders. High-performance seals are required to contain the pressurized fluids in a hydraulic cylinder system and keep it in motion. Continuous demand in industries where hydraulic systems play a crucial role is boosting the adoption of hydraulic cylinders, which, in turn, drives the growth of the hydraulic seals market. Irreplaceability of hydraulic systems in aviation, manufacturing, construction equipment, and infrastructure also bolsters the growth of the hydraulic seals market. The incorporation of machinery with hydraulic cylinders encourages growth in functionality, accuracy, and offers enhancements in controlled performance and ease-of-use.

Increasing demand for material handling equipment and rising construction activities for contributing to economic development is amplifying the utilization of hydraulic cylinders. Growing demand for sophisticated agriculture machinery combined with escalating population size and rising the oil & gas industry are further augmenting the demand for hydraulic cylinders. Hydraulic cylinders are the highly preferred actuators for oil and gas applications owing to key characteristics of high power-to-size ratio, durability in harsh environments, and constantly held force and torque. For instance, the small and compact form of hydraulic cylinders helps effectively utilize powerful, lightweight, and heavy-duty equipment to conduct narrow hole drilling and efficient pipe handling. Besides, the double-acting function-based hydraulic cylinders are widely used for heavy trucks, forklifts, and earth moving equipment. Thus, the extensive utilization of hydraulic cylinders across various end-use industries coupled with the technological advancements in the hydraulic industry is driving the growth of the hydraulic seals market.

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Impact of COVID-19 Pandemic on Hydraulic Seals Market
The COVID-19 pandemic was first reported in Wuhan (China) in December 2019. As of January 2021, the US, Brazil, India, Russia, South Africa, Mexico, and the UK are among the worst-affected countries in terms of the COVID-19 confirmed cases and reported deaths. The outbreak is adversely affecting economies and industries in various countries owing to lockdowns, travel bans, and business shutdowns. Overall market breakdown, due to shutdown of factories and disruptions in supply chain, and downturn in world economy are hindering the growth of the hydraulic seals market.

The report includes the segmentation of the global hydraulic seals market as follows:

By Product

• Wiper Seals
• Piston Seals
• Rod Seals
• Buffer Seals
• Others
By End-Use Industry

• Automotive
• Aerospace
• Agriculture
• Chemical
• Marine
• Others

The report includes the segmentation of the global Hydraulic Seals market as follows:

Based on type, the global Hydraulic Seals market is segmented into HCFC, HFC, HFO, isobutane, propane, ammonia, carbon dioxide, and others. Based on application, the global market is segmented into refrigeration systems, chillers, air-conditioning systems, MACs, and others.

The purposes of this analysis are:
1. To characterize, portray, and check the Hydraulic Seals market based on product type, application, and region.
2. To estimate and inspect the size of the Hydraulic Seals market (in terms of value) in six key regions, specifically, North and South America, Western Europe, Central & Eastern Europe, the Middle East, Africa, and the Asia-Pacific.
3. To estimate and inspect the Hydraulic Seals markets at country-level in every region.
4. To strategically investigate every sub-market about personal development trends and its contribution to the Hydraulic Seals market.
5. To look at possibilities in the Hydraulic Seals market for shareholder by recognizing excessive-growth segments of the market.

Contact Us:
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876

About Us:
The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Healthcare, Manufacturing and Construction, Media and Technology, Chemicals, and Materials.

This release was published on openPR.