Press release
Gaskets & Seals Market is Projected to Reach $100.72 Billion by 2029 - Arizton
To Know More, Click: https://www.arizton.com/market-reports/gaskets-and-seals-market-size-analysis
Report Summary
Market Size (2029): USD 100.72 Billion
Market Size (2023): USD 72.03 Billion
CAGR (2023-2029): 5.75%
Historic Year: 2020-2022
Base Year: 2023
Forecast Year: 2024-2029
Market Segmentation: Product Type, Seals, Gaskets, Material Type, End Use, Application and Geography
Geographical Analysis: North America, Europe, APAC, Latin America, Middle East & Africa
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Growing Demand for Gaskets and Seals in EVs Driven Boosting Growth
The increasing demand for gaskets and seals in electric vehicles (EVs) is fueled by their essential role in ensuring the performance, efficiency, and longevity of these vehicles. In EV batteries, gaskets and seals are crucial for protecting against dust, moisture, and heat, preserving the battery pack's integrity by preventing external contaminants from entering and internal fluids from leaking out. This containment is vital for both safety and environmental protection, particularly in preventing electrolyte and other fluids from escaping in the event of a rupture. Additionally, effective thermal management is critical for the optimal performance of EV batteries, electric motors, and power electronics. Gaskets and seals play a key role in managing and dissipating heat, ensuring proper thermal insulation, and safeguarding against extreme temperatures.
With electric car sales nearing 14 million in 2023-95% of which occurred in China, Europe, and the US-there are now nearly 40 million electric cars on the roads globally, according to data from the International Energy Agency. The rising popularity of EVs is significantly boosting the market for gaskets and seals used in these vehicles. Innovation and optimization of these components are essential for advancing EV technology.
Key Development
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In 2023, Freudenberg revealed a breakthrough from its Sealing Technologies division with the development of 3D thermal barriers. These barriers act as protective layers aimed at mitigating thermal runaway by enhancing resistance to propagation, thereby improving safety standards for EVs.
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In 2023, John Crane, a division of Smiths Group and a global leader in rotating equipment solutions, introduced the Type SB2/SB2A USP seal. This new product combines the heavy-duty dual cartridge Type SB2/SB2A seal with its innovative upstream pumping (USP) technology.
OEMs Lead Global Gaskets and Seals Market with Largest Share
The Original Equipment Manufacturers (OEMs) market segment holds the largest share in the global gaskets and seals market. OEMs are vital across various industries, producing essential products and components that are branded and sold by other companies. Gaskets and seals, though small, are crucial components for OEMs in sectors such as automotive, industrial machinery, electrical appliances, aerospace, and shipbuilding. The growth in production facilities and establishments within these industries is driving the expansion of this market segment.
In OEM applications, gaskets and seals are indispensable for creating reliable, leak-free seals between mating surfaces. For instance, in automotive manufacturing, they are essential in preventing fluids like oil and coolant from leaking out of engines and transmissions, thus protecting against costly damage and ensuring operational efficiency.
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Key Vendors
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Dana
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Business Overview
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Product Offerings
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Datwyler
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Dechengwang
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ElringKlinger
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Flowserve Corporation
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Freudenberg Sealing Technology
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SKF
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Smiths Group
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Tenneco
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Trelleborg
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Cooper Standard
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Business Overview
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Product Offerings
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Bruss
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Enpro
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Saint-Gobain
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Dimer
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KLINGER
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SSP Manufacturing
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W.L. Gore & Associates
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Armacell
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Parker Hannifin
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Flexitallic
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Advanced Seals & Gaskets
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Erith
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Lamons
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A.J. Rubber & Sponge
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The Rubber Company
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N. K. Rubber Industries
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AMG Sealing
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IGP Engineers
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Phelps
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AccroSeal
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Vicone
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Seal & Design
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Mechanicals Seals Germany
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Polymax
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DuPont
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Kaman
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Teadit
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Frenzelit
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Sanwa Packing Industry
Segmentation & Forecast
Product Type
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Seals
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Gaskets
Seals
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Shaft Seals
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Molded Seals
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Motor Vehicle Seals
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Other Seals
Gaskets
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Jacketed Gaskets
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Solid Gaskets
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Spiral Wound Gaskets
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Kammprofile Gaskets
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Other Gaskets
Material Type
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Metallic
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Non-metallic
End Use
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OEMs
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After Market
Application
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Industrial Machinery
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Automotive
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Electricals & Electronics
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Aerospace Industry
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Marine & Rail
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Others
Geography
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North America
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The U.S.
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Canada
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Europe
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Germany
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The U.K.
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France
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Italy
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Spain
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APAC
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Japan
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China
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India
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Australia
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South Korea
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Latin America
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Brazil
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Mexico
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Argentina
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Middle East & Africa
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Turkey
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South Africa
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Saudi Arabia
Key Questions Answered in the Report:
How big is the global gaskets and seals market?
Who are the major players in the global gaskets and seals market?
What is the growth rate of the global gaskets and seals market?
Which region dominates the global gaskets and seals market share?
What are the key drivers of the global gaskets and seals market?
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About Us:
Arizton Advisory and Intelligence is an innovative and quality-driven firm that offers cutting-edge research solutions to clients worldwide. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
We offer comprehensive market research reports on consumer goods & retail technology, automotive and mobility, smart tech, healthcare, life sciences, industrial machinery, chemicals, materials, I.T. and media, logistics, and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
Arizton comprises a team of exuberant and well-experienced analysts who have mastered generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.
Media Contact
Company Name: Arizton Advisory & Intelligence
Contact Person: Jessica
Email:Send Email [https://www.abnewswire.com/email_contact_us.php?pr=gaskets-seals-market-is-projected-to-reach-10072-billion-by-2029-arizton]
Phone: +1-312-235-2040/ +1 302 469 0707
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